Lorain County Community College Foundation

Analysis

Lorain County Community College Foundation is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in September 1975, 51 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Lorain County Community College Foundation reported income of $4.0m and spending of $3.3m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $4.0m (-6.2%), an average of -1.6% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lorain County Community College Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Flex High School Inc ($4.0m), Youth Entrepreneurs Inc ($4.0m) and Magic City Acceptance Academy Charter School ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $245k (7.4% of expenses). Other salaries and wages came to $188k. It paid $22k in professional fundraising fees. At year end it held assets of $60.5m against liabilities of $644k, net assets of $59.9m.