Community Foundation Of Lorain County
- Assets
- $163.0m
- Revenue
- $27.2m
- Investments
- $63.5m
- Employees
- 15
- Location
- Elyria, OH
- Founding
- 03/1981
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Community Foundation Of Lorain County generated $27.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $8.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Community Foundation Of Lorain County has awarded 720 individual grants totaling $25,498,851. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
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:
THE COMMUNITY FOUNDATION IS A GRANTMAKING ORGANIZATION. APPROXIMATELY ONE-THIRD OF THE GRANTS AUTHORIZED IN 2021 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 2021 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 2021 WERE AS DESIGNATED TO THE COMMUNITY FOUNDATION FROM DESIGNATED, DONOR ADVISED OR AGENCY FUNDS.
OVER 199 SCHOLARSHIPS FOR EDUCATION BEYOND HIGH SCHOOL WERE AWARDED TO STUDENTS AS DIVERSE AS THE DONORS WHO CREATED THE SCHOLARSHIP FUNDS. IN 2021, 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 |
|---|---|---|---|
Cynthia H Andrews President And CEO | Officer | 50 | $156,622 |
James A Stobe CFO | Officer | 50 | $115,739 |
Reynaldo Carrion Vice Chairperson | OfficerTrustee | 2 | $0 |
Kevin Wm Donovan ESQ Chairperson | OfficerTrustee | 2 | $0 |
Veronica Gilbert Treasurer | OfficerTrustee | 2 | $0 |
Randy Wagner Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wickens Herzer Panza Legal Services | 12/30/19 | $115,879 |
Morgan Stanley Investment Advisor | 12/30/19 | $106,297 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $148,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,533,503 |
| Noncash contributions included in lines 1a–1f | $564,774 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,681,809 |
| Total Program Service Revenue | $0 |
| Investment income | $2,512,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,990 |
| Net Gain/Loss on Asset Sales | $20,858,236 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,165,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,697,739 |
| Grants and other assistance to domestic individuals. | $531,913 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $292,528 |
| Compensation of current officers, directors, key employees. | $151,527 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $613,439 |
| Pension plan accruals and contributions | $34,238 |
| Other employee benefits | $176,637 |
| Payroll taxes | $65,214 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,244 |
| Fees for services: Accounting | $15,200 |
| Fees for services: Lobbying | $4,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $415,199 |
| Fees for services: Other | $61,809 |
| Advertising and promotion | $100,978 |
| Office expenses | $25,377 |
| Information technology | $5,388 |
| Royalties | $0 |
| Occupancy | $153,521 |
| 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 | $23,011 |
| Insurance | $14,701 |
| All other expenses | $0 |
| Total functional expenses | $8,345,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,829 |
| Savings and temporary cash investments | $12,097,699 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,574 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,796 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $62,231 |
| Net Land, buildings, and equipment | $2,264,035 |
| Investments—publicly traded securities | $84,763,386 |
| Investments—other securities | $63,526,154 |
| Investments—program-related | $3,314 |
| Intangible assets | $0 |
| Other assets | $3,986 |
| Total assets | $163,012,004 |
| Accounts payable and accrued expenses | $36,014 |
| Grants payable | $633,054 |
| 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 | $20,845,444 |
| Total liabilities | $21,514,512 |
| Net assets without donor restrictions | $141,346,918 |
| Net assets with donor restrictions | $150,574 |
| 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 | $163,012,004 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Lorain County has awarded $4,490,661 in support to 112 organizations.
| Grant Recipient | Amount |
|---|---|
Cincinnati, OH PURPOSE: PROGRAM SUPPORT | $732,316 |
Lorain, OH PURPOSE: PROGRAM SUPPORT | $255,225 |
Lorain, OH PURPOSE: PROGRAM SUPPORT | $233,012 |
Oberlin, OH PURPOSE: PROGRAM SUPPORT | $202,510 |
Lorain, OH PURPOSE: PROGRAM SUPPORT | $135,000 |
Wellington, OH PURPOSE: PROGRAM SUPPORT | $119,000 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Community Foundation Of Lorain County has recieved totaling $289,242.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Lorain County Elyria, OH PURPOSE: PROGRAM SUPPORT | $96,779 |
Stocker Foundation Elyria, OH PURPOSE: DOLLY PARTON'S IMAGINATION LIBRARY INITIATIVE | $75,000 |
Greater Cincinnati Foundation Cincinnati, OH PURPOSE: GENERAL PURPOSE | $75,000 |
Nordson Corporation Foundation Westlake, OH PURPOSE: EDUCATION PROGRAM | $10,000 |
The Bettcher Foundation Vermilion, OH PURPOSE: CHARITABLE - GENERAL SUPPORT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $6,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lancaster County Community Foundation Lancaster, PA | $92,463,036 | $19,491,842 |
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Greater Kanawha Valley Foundation Charleston, WV | $329,426,372 | $27,972,481 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
Community Foundation Of Greater Johnstown Johnstown, PA | $89,313,800 | $19,729,908 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
The Community Foundation Of Louisville Corporate Depository In Louisville, KY | $17,663,337 | $10,177,129 |