Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2020 • EIN 34-1557587

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 30, 2021

Organization ProfileWWW.LORAINCOUNTYCHAMBER.COM

View Organization Page

226 Middle Avenue - 5th FloorElyria, OH 44035

(440) 328-2550

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.03x

Higher debt load relative to assets than 60% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.02x

Higher debt load relative to revenue than 57% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

56th percentile

6.8%

Higher net margin than 56% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

67th percentile

14%

Faster asset growth than 67% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

61st percentile

-12%

Faster revenue growth than 61% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$234,614

Up $28,918 (+14%) from 2019

Net Assets

Up

$228,368

Up $24,247 (+12%) from 2019

Liabilities

Up

$6,246

Up $4,671 (+297%) from 2019

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin56th percentile

Revenue

Down

$357,413

Down $47,868 (-12%) from 2019

Expenses

Down

$333,166

Down $49,442 (-13%) from 2019

Net Income

Up

$24,247

Up $1,574 (+6.9%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2016: $138,830Liabilities 2016: $4,238Net Assets 2016: $134,5922016Assets 2017: $165,075Liabilities 2017: $1,550Net Assets 2017: $163,5252017Assets 2018: $186,336Liabilities 2018: $3,094Net Assets 2018: $183,2422018Assets 2019: $205,696Liabilities 2019: $1,575Net Assets 2019: $204,1212019Assets 2020: $234,614Liabilities 2020: $6,246Net Assets 2020: $228,3682020Assets 2021: $306,647Liabilities 2021: $69,699Net Assets 2021: $236,9482021Assets 2022: $238,548Liabilities 2022: $21,024Net Assets 2022: $217,5242022Assets 2023: $240,658Liabilities 2023: $74,858Net Assets 2023: $165,8002023Assets 2024: $163,249Liabilities 2024: $50,156Net Assets 2024: $113,0932024

Highlighted filing

2020

Assets$234,614
Liabilities$6,246
Net Assets$228,368
Open 2020 Filing

Operations Trend

Revenue Growth61st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2016: $381,968Expenses 2016: $316,987Net Income 2016: $64,9812016Revenue 2017: $389,827Expenses 2017: $360,894Net Income 2017: $28,9332017Revenue 2018: $391,555Expenses 2018: $371,876Net Income 2018: $19,6792018Revenue 2019: $405,281Expenses 2019: $382,608Net Income 2019: $22,6732019Revenue 2020: $357,413Expenses 2020: $333,166Net Income 2020: $24,2472020Revenue 2021: $345,590Expenses 2021: $357,010Net Income 2021: -$11,4202021Revenue 2022: $373,474Expenses 2022: $412,898Net Income 2022: -$39,4242022Revenue 2023: $342,422Expenses 2023: $394,146Net Income 2023: -$51,7242023Revenue 2024: $384,891Expenses 2024: $437,598Net Income 2024: -$52,7072024

Highlighted filing

2020

Revenue$357,413
Expenses$333,166
Net Income$24,247
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 30, 2021
Return Version
2020v4.0
Gross Receipts
$378,532
Mission and Program Overview

Mission

To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$199,946$230,664▲ $30,718
Land, Buildings, and Equipment, Net$5,750$3,950▼ $1,800
Total Assets$205,696$234,614▲ $28,918
Liabilities
Accounts Payable and Accrued Expenses$1,575$6,246▲ $4,671
Total Liabilities$1,575$6,246▲ $4,671
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$204,121$228,368▲ $24,247
Total Net Assets Fund Balance$204,121$228,368▲ $24,247
Total Liabilities and Net Assets / Fund Balance$205,696$234,614▲ $28,918

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,950$79,532$83,482
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Kevin KnightChairman
Ed SkiminPast Chairma
Anthony GalloPresident
Brian JankowskiTrustee
Char WrayTrustee
Darryl TuckerTrustee
Gayle De La PorteTrustee
Jason CoeTrustee
John BryanTrustee
Jon CromlingTrustee
Kevin NelsonTrustee
Kristy SinkTrustee
Kurt RaicevichTrustee
Larry SansomTrustee
Marcia BallingerTrustee
Michele WilliamsonTrustee
Mike HerrickTrustee
Richard J ColellaTrustee
Ryan FlaniganTrustee
Tom KramigTrustee
Sharon PearsonAt Large
Timothy KingSecretary
Chris MeadTreasurer
Philip AmosVice Charima
Revenue and Support

Revenue Composition

Contributions and Grants
$236,789
Program Service Revenue
$60,949
Investment Income
$0
Other Revenue
$59,675
All Other Contributions
$20,000
Change in Net Assets
$24,247
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$225,201
Other Expenses$107,965
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$152,317--$152,317
Other Employee Benefits$62,289--$62,289
Occupancy$20,000--$20,000
All Other Expenses$12,611--$12,611
Payroll Taxes$10,595--$10,595
Information Technology$10,477--$10,477
Office Expenses$9,051--$9,051
Other Expenses$7,665--$7,665
Insurance$5,539--$5,539
Fees for Services Accounting$5,500--$5,500
Depreciation Depletion$1,800--$1,800
Fees for Services Legal$760--$760
Total Functional Expenses$333,166$0$0$333,166
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$63,161
Fundraising Direct Expenses$21,119
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$23,139$23,139$10,484$12,655
Economic Develo$21,510$21,510$9,580$11,930
Total Events$44,649$44,649$20,064$24,585
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Will distribute draft copy to board before filing.”

Form 990, Page 6, Part VI, Line 15A

“Per board review and approval.”

Form 990, Page 6, Part VI, Line 15B

“Per board review and approval.”

Form 990, Page 6, Part VI, Line 19

“Upon request with the organization or executive committee.”

Filing and Contact Details

Filer

Filer Name
Lorain County Chamber
EIN
34-1557587
Phone
4403282550
Address
226 MIDDLE AVENUE - 5TH FLOOR, ELYRIA, OH 44035

Signing Officer

Name
Anthony Gallo
Title
President
Phone
4403282550
Signed
2021-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
24
Independent Board Members
23
Employees
3

Preparer

Firm
Elek & Noss LLC
Address
PO BOX 250, GRAFTON, OH 44044-0250
Preparer
Gregory J Elek CPA
Phone
4409269300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.”

Form 990, Page 2, Part III, Line 4D

“To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximized resources, and emphasizes cooperation.”

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IRS990/MissionDesc0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZES RESOURCES, AND EMPHASIZES COOPERATION.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0204121
IRS990/NetAssetsOrFundBalancesEOYAmt0228368
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt042042
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0204121
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0228368
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt020000
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt020000
IRS990/OccupancyGrp/TotalAmt020000
IRS990/OfficeExpensesGrp/ProgramServicesAmt09051
IRS990/OfficeExpensesGrp/TotalAmt09051
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt062289
IRS990/OtherEmployeeBenefitsGrp/TotalAmt062289
IRS990/OtherExpensesGrp/Desc0INTERNAL MANAGEMENT
IRS990/OtherExpensesGrp/Desc1GOVERNMENT AFFAIR
IRS990/OtherExpensesGrp/Desc2AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/Desc3BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/ProgramServicesAmt013778
IRS990/OtherExpensesGrp/ProgramServicesAmt112143
IRS990/OtherExpensesGrp/ProgramServicesAmt28641
IRS990/OtherExpensesGrp/ProgramServicesAmt37665
IRS990/OtherExpensesGrp/TotalAmt013778
IRS990/OtherExpensesGrp/TotalAmt112143
IRS990/OtherExpensesGrp/TotalAmt28641
IRS990/OtherExpensesGrp/TotalAmt37665
IRS990/OtherRevenueMiscGrp/Desc0CERFIFICATES OF ORIGIN
IRS990/OtherRevenueMiscGrp/Desc1BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt07098
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt16530
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt24005
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt07098
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16530
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt24005
IRS990/OtherRevenueTotalAmt017633
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0152317
IRS990/OtherSalariesAndWagesGrp/TotalAmt0152317
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt010595
IRS990/PayrollTaxesGrp/TotalAmt010595
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BUSINESS DEVELOPMEN
IRS990/ProgramServiceRevenueGrp/Desc1GOVERNMENT AFFAIRS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt047410
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt113539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt047410
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113539
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0236853
IRS990/PYOtherExpensesAmt0123585
IRS990/PYOtherRevenueAmt082237
IRS990/PYProgramServiceRevenueAmt086191
IRS990/PYRevenuesLessExpensesAmt022673
IRS990/PYSalariesCompEmpBnftPaidAmt0259023
IRS990/PYTotalExpensesAmt0382608
IRS990/PYTotalRevenueAmt0405281
IRS990/ReconcilationRevenueExpnssAmt024247
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt03950
IRS990ScheduleD/EquipmentGrp/DepreciationAmt079532
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03950
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt020064
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ECONOMIC DEVELO
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt023139
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt021510
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt044649
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt023139
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt021510
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt044649
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt024585
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt020064
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt010484
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt09580
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZES RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WILL DISTRIBUTE DRAFT COPY TO BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST WITH THE ORGANIZATION OR EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0205696
IRS990/TotalAssetsEOYAmt0234614
IRS990/TotalAssetsGrp/BOYAmt0205696
IRS990/TotalAssetsGrp/EOYAmt0234614
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0236789
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0333166
IRS990/TotalFunctionalExpensesGrp/TotalAmt0333166
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01575
IRS990/TotalLiabilitiesEOYAmt06246
IRS990/TotalLiabilitiesGrp/BOYAmt01575
IRS990/TotalLiabilitiesGrp/EOYAmt06246
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204121
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0228368
IRS990/TotalProgramServiceExpensesAmt0333166
IRS990/TotalProgramServiceRevenueAmt060949
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt078582
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0357413
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0205696
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0234614
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0226 MIDDLE AVENUE
IRS990/USAddress/CityNm0ELYRIA
IRS990/USAddress/StateAbbreviationCd0OH

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$234,614
Liabilities
$6,246
Net assets
$228,368
Revenue
$357,413
Expenses
$333,166
Net income
$24,247
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.63$0.50$1.13$3.85$4.38$0.53
2023Detailed filing. Detailed filing data is available for this year.$2.41$0.75$1.66$3.42$3.94$0.52
2022Detailed filing. Detailed filing data is available for this year.$2.39$0.21$2.18$3.73$4.13$0.39
2021Detailed filing. Detailed filing data is available for this year.$3.07$0.70$2.37$3.46$3.57$0.11
2020Detailed filing. Detailed filing data is available for this year.$2.35$0.06$2.28$3.57$3.33$0.24
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.02$2.04$4.05$3.83$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.86$0.03$1.83$3.92$3.72$0.20
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.02$1.64$3.90$3.61$0.29
2016Detailed filing. Detailed filing data is available for this year.$1.39$0.04$1.35$3.82$3.17$0.65