Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2024 • EIN 34-1557587

Jan 01, 2024 to Dec 31, 2024 • Filed on Jun 27, 2025

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

86th percentile

0.31x

Higher debt load relative to assets than 86% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.13x

Higher debt load relative to revenue than 78% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

22nd percentile

-14%

Higher net margin than 22% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

97th percentile

$112,470

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 29.2% of source-year revenue.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Asset Growth

12th percentile

-32%

Faster asset growth than 12% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

66th percentile

12%

Faster revenue growth than 66% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$163,249

Down $77,409 (-32%) from 2023

Net Assets

Down

$113,093

Down $52,707 (-32%) from 2023

Liabilities

Down

$50,156

Down $24,702 (-33%) from 2023

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin22nd percentile

Revenue

Up

$384,891

Up $42,469 (+12%) from 2023

Expenses

Up

$437,598

Up $43,452 (+11%) from 2023

Net Income

Down

-$52,707

Down $983 (-1.9%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2024

Assets$163,249
Liabilities$50,156
Net Assets$113,093
Open 2024 Filing

Operations Trend

Revenue Growth66th 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

2024

Revenue$384,891
Expenses$437,598
Net Income-$52,707
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 27, 2025
Return Version
2024v5.0
Gross Receipts
$451,892
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$233,386$160,132▼ $73,254
Land, Buildings, and Equipment, Net$7,272$3,117▼ $4,155
Total Assets$240,658$163,249▼ $77,409
Liabilities
Deferred Revenue$67,586$47,039▼ $20,547
Other Liabilities$7,272$3,117▼ $4,155
Total Liabilities$74,858$50,156▼ $24,702
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$165,800$113,093▼ $52,707
Total Net Assets Fund Balance$165,800$113,093▼ $52,707
Total Liabilities and Net Assets / Fund Balance$240,658$163,249▼ $77,409

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,117$98,440$101,557
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anthony GalloPresidentFT$112,470$112,470

Board Members and Trustees

NameTitle
Kevin KnightPast Chairma
John BryanVice Chairma
Brian JankowskiTrustee
Darryl TuckerTrustee
Gilbert PalmerTrustee
Jeremy DamstraTrustee
Jon CromlingTrustee
Katie KrepsTrustee
Lisa HutsonTrustee
Michele WilliamsonTrustee
Mike HerrickTrustee
Ryan FlaniganTrustee
Tom KramigTrustee
Tracy GreenTrustee
Ed SkiminAt Large
Kevin NelsonAt Large
Philip AmosChariman
Sharon PearsonSecretary
Chris MeadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$248,365
Program Service Revenue
$41,425
Investment Income
$0
Other Revenue
$95,101
Change in Net Assets
$-52,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$358,013
Other Expenses$79,585
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$247,911--$247,911
Other Employee Benefits$91,587--$91,587
Fees for Services Other$26,691--$26,691
Office Expenses$20,484--$20,484
Payroll Taxes$18,515--$18,515
Information Technology$13,249--$13,249
Fees for Services Accounting$8,831--$8,831
Occupancy$3,178--$3,178
Insurance$2,292--$2,292
Depreciation Depletion$344--$344
Other Expenses$217--$217
Total Functional Expenses$437,598$0$0$437,598
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$147,571
Fundraising Direct Expenses$67,001
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$44,038$44,038$21,686$22,352
Business Expo$34,850$34,850$11,781$23,069
Total Events$147,571$147,571$67,001$80,570
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$3,117
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
2025-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
23
Independent Board Members
22
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.”

Form 990, Part XI, Line 9

“Rent expense donated -20,000”

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IRS990/NetAssetsOrFundBalancesBOYAmt0165800
IRS990/NetAssetsOrFundBalancesEOYAmt0113093
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt080570
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0165800
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0113093
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt03178
IRS990/OccupancyGrp/TotalAmt03178
IRS990/OfficeExpensesGrp/ProgramServicesAmt020484
IRS990/OfficeExpensesGrp/TotalAmt020484
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-20000
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt091587
IRS990/OtherEmployeeBenefitsGrp/TotalAmt091587
IRS990/OtherExpensesGrp/Desc0SUMMER NETWORKING EVENTS
IRS990/OtherExpensesGrp/Desc1MEMBER ORIENTATION
IRS990/OtherExpensesGrp/Desc2BUSINESS AFTER HOURS
IRS990/OtherExpensesGrp/Desc3MISC. EVENTS
IRS990/OtherExpensesGrp/ProgramServicesAmt02212
IRS990/OtherExpensesGrp/ProgramServicesAmt11187
IRS990/OtherExpensesGrp/ProgramServicesAmt2900
IRS990/OtherExpensesGrp/ProgramServicesAmt3217
IRS990/OtherExpensesGrp/TotalAmt02212
IRS990/OtherExpensesGrp/TotalAmt11187
IRS990/OtherExpensesGrp/TotalAmt2900
IRS990/OtherExpensesGrp/TotalAmt3217
IRS990/OtherLiabilitiesGrp/BOYAmt07272
IRS990/OtherLiabilitiesGrp/EOYAmt03117
IRS990/OtherRevenueMiscGrp/Desc0BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/Desc2CERFIFICATES OF ORIGIN
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt011997
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt11850
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt2628
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt011997
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt11850
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2628
IRS990/OtherRevenueTotalAmt014531
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0247911
IRS990/OtherSalariesAndWagesGrp/TotalAmt0247911
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt018515
IRS990/PayrollTaxesGrp/TotalAmt018515
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BUSINESS DEVELOPMENT, NET
IRS990/ProgramServiceRevenueGrp/Desc1GOVERNMENT AFFAIRS, NET
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt034635
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt16790
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034635
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16790
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/PYContributionsGrantsAmt0233356
IRS990/PYOtherExpensesAmt065565
IRS990/PYOtherRevenueAmt078484
IRS990/PYProgramServiceRevenueAmt030582
IRS990/PYRevenuesLessExpensesAmt0-51724
IRS990/PYSalariesCompEmpBnftPaidAmt0328581
IRS990/PYTotalExpensesAmt0394146
IRS990/PYTotalRevenueAmt0342422
IRS990/ReconcilationRevenueExpnssAmt0-52707
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt03117
IRS990ScheduleD/EquipmentGrp/DepreciationAmt098440
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0101557
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03117
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03117
IRS990ScheduleD/TotalLiabilityAmt03117
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt067001
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt044038
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt034850
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt068683
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0147571
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt044038
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt034850
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt068683
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0147571
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt080570
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt033534
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt067001
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt021686
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt011781
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
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/ExplanationTxt6RENT EXPENSE DONATED -20,000
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0240658
IRS990/TotalAssetsEOYAmt0163249
IRS990/TotalAssetsGrp/BOYAmt0240658
IRS990/TotalAssetsGrp/EOYAmt0163249
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0248365
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0437598
IRS990/TotalFunctionalExpensesGrp/TotalAmt0437598
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt074858
IRS990/TotalLiabilitiesEOYAmt050156
IRS990/TotalLiabilitiesGrp/BOYAmt074858
IRS990/TotalLiabilitiesGrp/EOYAmt050156
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0165800
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0113093
IRS990/TotalProgramServiceExpensesAmt0437598
IRS990/TotalProgramServiceRevenueAmt041425
IRS990/TotalReportableCompFromOrgAmt0112470
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055956
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0384891
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0240658

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$163,249
Liabilities
$50,156
Net assets
$113,093
Revenue
$384,891
Expenses
$437,598
Net income
-$52,707
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