Lorain Revitalization Association
- Assets
- $50.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- Data as of
- 12/2021
- EIN
- 85-0793147
Organization Overview
Lorain Revitalization Association is located in Lorain, OH. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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 Revitalization Association 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 Revitalization Association generated $88.5k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 47.1% each year . All expenses for the organization totaled $64.1k during the year ending 12/2021. 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
TO PROMOTE COLLABORATION AND CELEBRATION AS A MEANS OF MAKING DOWNTOWN LORAIN VIBRANT AND ACCESSIBLE TO RESIDENTS AND VISITORS OF ALL AGES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Hernon President | 5 | $0 | |
Jimmy Pentilla Member | 1 | $0 | |
Pat Morrisson Secretary | 1 | $0 | |
Christopher Cocco Vice President | 3 | $0 | |
Jennifer Black Member | 1 | $0 | |
Joel Arredondo Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,015 |
| Total Program Service Revenue | $0 |
| Membership dues | $14,902 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $10,546 |
| Other Revenue | $50 |
| Total Revenue | $88,513 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $44,970 |
| Professional fees and other payments to independent contractors | $5,366 |
| Occupancy, rent, utilities, and maintenance | $5,030 |
| Printing, publications, postage, and shipping | $559 |
| Other expenses | $8,187 |
| Total expenses | $64,112 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $49,696 |
| Other assets | $0 |
| Total assets | $50,355 |
| Total liabilities | $3,745 |
| Net assets or fund balances | $46,610 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lorain Revitalization Association has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $1,500 |
Peer Organizations
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|---|---|---|
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Detroit Regional Chamber Detroit, MI | $15,593,687 | $11,203,489 |
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National Truck Equipment Association Farmington Hills, MI | $27,097,486 | $13,173,388 |
National Precast Concrete Association Inc Carmel, IN | $13,896,863 | $10,585,314 |
Indiana Underground Plant Protection Service Inc Greenwood, IN | $23,524,907 | $10,120,104 |
Valley Forge Convention & Visitors Bureau Ltd King Of Prussia, PA | $5,553,675 | $9,336,877 |
Indy Championships Fund Inc Indianapolis, IN | $6,870,300 | $5,470,881 |
Cincinnati Usa Regional Chamber Foundation Cincinnati, OH | $5,241,564 | $8,994,630 |
United States Auto Club Inc Speeway, IN | $9,462,749 | $8,803,696 |
Kentucky Chamber Of Commerce Inc Frankfort, KY | $9,516,426 | $9,027,627 |
Materials Research Society Warrendale, PA | $13,527,707 | $7,097,114 |