Community Foundation Of Lorain County
- Assets
- $140.1m
- Revenue
- $4.3m
- Investments
- $67.0m
- Employees
- 15
- Location
- Elyria, OH
- Founding
- 03/1981
- Data as of
- 12/2022
- EIN
- 34-1322781
Organization Overview
Community Foundation Of Lorain County is located in Elyria, OH. The organization was established in 1981. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Community Foundation Of Lorain County employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Lorain County is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Community Foundation Of Lorain County generated $4.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $8.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Community Foundation Of Lorain County has awarded 1,023 individual grants totaling $36,250,321. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COMMUNITY FOUNDATION CONNECTS PEOPLE WHO CARE WITH CAUSES THAT MATTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY FOUNDATION IS A GRANTMAKING ORGANIZATION. APPROXIMATELY ONE-THIRD OF THE GRANTS AUTHORIZED IN 2023 WERE DIRECTED BY THE BOARD TOWARD STRATEGIC INITIATIVES AND COMMUNITY RESPONSIVE REQUESTS THAT ADDRESS VITAL COMMUNITY NEEDS IN LORAIN COUNTY AND TO RESPOND TO EMERGING OPPORTUNITIES IN A WIDE RANGE OF CHARITABLE ORGANIZATIONS IN LORAIN COUNTY. GRANTS AWARDED THROUGH A COMPETITIVE PROCESS IN 2023 SUPPORTED PROGRAMS ACROSS A DIVERSE IMPACT AREA, SUCH AS ANIMALS AND ENVIRONMENT, ARTS AND CULTURE, EDUCATION, HEALTH, HUMAN SERVICES, AND PUBLIC BENEFIT. THE REMAINING GRANTS AUTHORIZED IN 2023 WERE AS DESIGNATED TO THE COMMUNITY FOUNDATION FROM DESIGNATED, DONOR ADVISED OR AGENCY FUNDS.
OVER 220 SCHOLARSHIPS FOR EDUCATION BEYOND HIGH SCHOOL WERE AWARDED TO STUDENTS AS DIVERSE AS THE DONORS WHO CREATED THE SCHOLARSHIP FUNDS. IN 2023, SCHOLARSHIPS WERE AWARDED FOR TECH PROGRAMS, CREATIVE WRITING, JOURNALISM, MEDICAL PROGRAMS, AND MANY OTHER ADVANCED LEARNING PURSUITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlita Anderson-White Chairperson | OfficerTrustee | 2 | $0 |
Michelle Barb Director | Trustee | 1 | $0 |
Lee Belardo Director | Trustee | 1 | $0 |
Evan Bellamy Director | Trustee | 1 | $0 |
Keith Brown Director | Trustee | 1 | $0 |
Brian Burke Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marquette Associates Investment Advisor | 12/30/23 | $119,000 |
Morgan Stanley Investment Advisor | 12/30/23 | $113,878 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,034,837 |
| Noncash contributions included in lines 1a–1f | $13,069 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,034,837 |
| Total Program Service Revenue | $0 |
| Investment income | $2,036,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,167 |
| Net Gain/Loss on Asset Sales | $59,976 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,276,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,641,293 |
| Grants and other assistance to domestic individuals. | $555,857 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $307,316 |
| Compensation of current officers, directors, key employees. | $158,782 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $587,213 |
| Pension plan accruals and contributions | $34,104 |
| Other employee benefits | $181,391 |
| Payroll taxes | $63,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,244 |
| Fees for services: Accounting | $18,400 |
| Fees for services: Lobbying | $4,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $387,076 |
| Fees for services: Other | $106,640 |
| Advertising and promotion | $127,641 |
| Office expenses | $29,291 |
| Information technology | $7,038 |
| Royalties | $0 |
| Occupancy | $151,877 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,961 |
| Insurance | $16,708 |
| All other expenses | $0 |
| Total functional expenses | $8,387,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,087 |
| Savings and temporary cash investments | $2,752,946 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,743 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $88,443 |
| Net Land, buildings, and equipment | $2,243,078 |
| Investments—publicly traded securities | $67,725,890 |
| Investments—other securities | $67,032,289 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,269 |
| Total assets | $140,093,745 |
| Accounts payable and accrued expenses | $164,893 |
| Grants payable | $1,411,813 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,869,231 |
| Total liabilities | $19,445,937 |
| Net assets without donor restrictions | $120,514,065 |
| Net assets with donor restrictions | $133,743 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $140,093,745 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Lorain County has awarded $5,046,978 in support to 148 organizations.
| Grant Recipient | Amount |
|---|---|
ABILITY WORKS PURPOSE: PROGRAM SUPPORT | $9,500 |
ACES PROGRAM ACHIEVEMENT THRU COMMUNITY EDUCATION AND SUPPORT PURPOSE: PROGRAM SUPPORT | $50,000 |
AMHERST BOARD OF EDUCATION PURPOSE: EDUCATIONAL | $25,118 |
AMHERST HISTORICAL SOCIETY PURPOSE: PROGRAM SUPPORT | $29,673 |
ATMOSPHERE ADVENTURES PURPOSE: PROGRAM SUPPORT | $10,000 |
A DEMENTIA FRIENDLY LIFE FOUNDATION PURPOSE: PROGRAM SUPPORT | $55,543 |