Lorain Growth Corporation
- Assets
- $55.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- 04/1998
- Data as of
- 12/2021
- 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 12/2021, Lorain Growth Corporation generated $100.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $106.5k during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 7 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
2021
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 |
|---|---|---|---|
Tony Gallo Board Member | 1 | $0 | |
James Long President | 3 | $0 | |
Lee Rivera Treasurer | 2 | $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 | $100,770 |
| 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 | $100,770 |
| 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 | $106,472 |
| Total expenses | $106,472 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $55,386 |
| Other assets | $0 |
| Total assets | $55,386 |
| Total liabilities | $0 |
| Net assets or fund balances | $55,386 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lorain Growth Corporation has recieved totaling $114.
| Awarding Organization | Amount |
|---|---|
Hageman Family Foundation Lorain, OH PURPOSE: GENERAL | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |