Lorain County Office on Aging Inc

Analysis

Lorain County Office on Aging Inc is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in July 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lorain County Office on Aging Inc reported income of $1.4m and spending of $1.3m, spending 92% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.4m (+39%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lorain County Office on Aging Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Randolph School Inc ($1.4m), Catholic Charities Health Care Center Inc ($1.4m) and The Arts Guild of Old Forge Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.3% of the total. Compensation of current officers, directors and key employees was $62k (4.7% of expenses). Other salaries and wages came to $525k. At year end it held assets of $1.2m against liabilities of $355k, net assets of $811k. It reported 37 employees.