Lorain County Chamber Of Commerce Inc
EIN: 341557587 · Elyria, OH
Is Lorain County Chamber Of Commerce Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lorain County Chamber Of Commerce Inc
Lorain County Chamber Of Commerce Inc (EIN: 341557587) is a nonprofit organization based in Elyria, OH. The organization reported total revenue of $452K and total assets of $163K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lorain County Chamber Of Commerce Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Lorain County Chamber Of Commerce Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lorain County Chamber Of Commerce Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about Lorain County Chamber Of Commerce Inc
Is Lorain County Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lorain County Chamber Of Commerce Inc (EIN: 341557587) insufficient data. 0 red flags identified, 0 strengths noted.
How does Lorain County Chamber Of Commerce Inc spend its money?
Detailed spending breakdown data is not yet available for Lorain County Chamber Of Commerce Inc. Check back for updated IRS 990 analysis.
Are donations to Lorain County Chamber Of Commerce Inc tax-deductible?
Lorain County Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 341557587). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Lorain County Chamber Of Commerce Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lorain County Chamber Of Commerce Inc's revenue has declined by 28.4%, moving from $478K to $342K. Total assets increased by 169.2% over the same period, from $89K to $241K. Total functional expenses rose by 3.4%, from $381K to $394K. In its most recent filing year (2023), Lorain County Chamber Of Commerce Inc reported a deficit of $52K, with expenses exceeding revenue. The organization holds $75K in liabilities against $241K in assets (debt-to-asset ratio: 31.1%), resulting in net assets of $166K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $342K | $394K | $241K | $75K | — | View 990 |
| 2022 | $373K | $413K | $239K | $21K | — | View 990 |
| 2021 | $346K | $357K | $307K | $70K | — | View 990 |
| 2020 | $357K | $333K | $235K | $6K | — | — |
| 2019 | $405K | $383K | $206K | $2K | — | View 990 |
| 2018 | $392K | $372K | $186K | $3K | — | View 990 |
| 2017 | $390K | $361K | $165K | $2K | — | View 990 |
| 2016 | $382K | $317K | $139K | $4K | — | View 990 |
| 2015 | $378K | $339K | $72K | $3K | — | View 990 |
| 2014 | $374K | $350K | $32K | $1K | — | View 990 |
| 2013 | $384K | $367K | $7K | $1K | — | View 990 |
| 2012 | $476K | $476K | $2K | $13K | — | View 990 |
| 2011 | $478K | $381K | $89K | $100K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $342K, expenses of $394K, and assets of $241K (revenue -8.3% year-over-year).
- 2022: Revenue of $373K, expenses of $413K, and assets of $239K (revenue +8.1% year-over-year).
- 2021: Revenue of $346K, expenses of $357K, and assets of $307K (revenue -3.3% year-over-year).
- 2020: Revenue of $357K, expenses of $333K, and assets of $235K (revenue -11.8% year-over-year).
- 2019: Revenue of $405K, expenses of $383K, and assets of $206K (revenue +3.5% year-over-year).
- 2018: Revenue of $392K, expenses of $372K, and assets of $186K (revenue +0.4% year-over-year).
- 2017: Revenue of $390K, expenses of $361K, and assets of $165K (revenue +2.1% year-over-year).
- 2016: Revenue of $382K, expenses of $317K, and assets of $139K (revenue +1.0% year-over-year).
- 2015: Revenue of $378K, expenses of $339K, and assets of $72K (revenue +1.0% year-over-year).
- 2014: Revenue of $374K, expenses of $350K, and assets of $32K (revenue -2.4% year-over-year).
- 2013: Revenue of $384K, expenses of $367K, and assets of $7K (revenue -19.3% year-over-year).
- 2012: Revenue of $476K, expenses of $476K, and assets of $2K (revenue -0.5% year-over-year).
- 2011: Revenue of $478K, expenses of $381K, and assets of $89K.
Data Sources and Methodology
This transparency report for Lorain County Chamber Of Commerce Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.