Lorain Growth Corporation
- Assets
- $67.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- 04/1998
- Data as of
- 12/2023
- EIN
- 34-1836556
Organization Overview
Lorain Growth Corporation is located in Lorain, OH. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lorain Growth Corporation 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 12/2023, Lorain Growth Corporation generated $139.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $159.8k during the year ending 12/2023. While expenses have increased by 9.9% per year over the past 9 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
2023
Describe the Organization's Program Activity:
Part 3
WORK WITH ORGANIZATIONS THROUGHOUT THE CITY OF LORAIN TO REVITALIZE THE DOWNTOWN DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Long President | 3 | $0 | |
Lee Rivera Treasurer | 2 | $0 | |
Tony Gallo Board Member | 1 | $0 | |
Stephanie Wiersma Board Member | 1 | $0 | |
Laurel Bansek Boardmember | 1 | $0 | |
Rebecca Wisniewski Boardmember | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,761 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $139,761 |
| 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 | $159,750 |
| Total expenses | $159,750 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $67,191 |
| Other assets | $0 |
| Total assets | $67,191 |
| Total liabilities | $0 |
| Net assets or fund balances | $67,191 |