Lorain County Medical Society Foundation Inc
- Assets
- $302.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Elyria, OH
- Founding
- 06/1991
- Data as of
- 12/2022
- EIN
- 34-1671409
Organization Overview
Lorain County Medical Society Foundation Inc is located in Elyria, OH. The organization was established in 1991. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lorain County Medical Society Foundation Inc 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, Lorain County Medical Society Foundation Inc generated $70.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $93.2k during the year ending 12/2022. While expenses have increased by 12.1% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE LORAIN COUNTY MEDICAL SOCIETY FOUNDATION IS RAISING FUNDS AND STUDYING COMMUNITY NEEDS TO SUPPORT LOCAL CHARITABLE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Martin Member | 5 | $0 | |
Mario Sertich President | 5 | $0 | |
Dr Kodsey Member | 5 | $0 | |
Kay Carbone Member | 5 | $0 | |
Dr Chuang Member | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $70,260 |
| Total Revenue | $70,260 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $83,723 |
| Total expenses | $93,223 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $45,338 |
| Other assets | $0 |
| Total assets | $302,918 |
| Total liabilities | $2,845 |
| Net assets or fund balances | $300,073 |