Community Foundation of Lorain County

Analysis

Community Foundation of Lorain County is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Community Foundation of Lorain County reported income of $7.9m and spending of $8.3m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $7.9m (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2021, when income rose by 180%. Over the whole period it spent 72% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation of Lorain County sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Soaring Eagle Academy ($7.9m), North Central Area Agency on Aging Inc ($8.0m) and Boys Town Jerusalem Foundation of America Inc ($7.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Compensation of current officers, directors and key employees was $321k (3.9% of expenses). Other salaries and wages came to $638k. At year end it held assets of $155.5m against liabilities of $19.9m, net assets of $135.6m. It reported 15 employees.