LORAIN COUNTY HISTORICAL SOCIETY INC

EIN: 340868574 501(c)(3)

ELYRIA, OH

Total Revenue
$247,535
Total Expenses
$333,909
Total Assets
$2,180,605
Net Assets
$2,180,605
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
OH
Principal Officer
KERRI BROOME
Phone
4403223341
Tax Period
2024-01-01 to 2024-12-31

LORAIN COUNTY HISTORICAL SOCIETY INC, founded in 1958, is a small nonprofit that reported $248K in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $334K exceeded revenue, resulting in a 35% operating deficit.

Mission

THE LORAIN COUNTY HISTORICAL SOCIETY COLLECTS, PRESERVES, AND SHARES THE HISTORY OF LORAIN COUNTY, OHIO.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $64,385
Program Service Revenue $97,133
Investment Income $60,836
Other Revenue $25,181
TOTAL REVENUE $247,535

Expense Breakdown

Grants Paid $0
Salaries & Benefits $148,102
Fundraising Expenses $49,303
Program Expenses $109,474
Other Expenses $185,807
TOTAL EXPENSES $333,909

Year-over-Year Comparison

2024 2023 Change
Revenue $247,535 $564,270 -0.6%
Expenses $333,909 $365,091 -0.1%
Net Income $-86,374 $199,179 -1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
5
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
13
$55,682
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KERRI BROOME EXECUTIVE DIRECTOR 40.00
Director
$55,682 $0 $55,682
KATHRYN DEAN-DIELMAN SECRETARY 2.00
Officer Director
$0 $0 $0
MARILYN WAINIO DIRECTOR 1.00
Director
$0 $0 $0
SAM BATTLE VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
GRANT THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
ROBERT R EBERT DIRECTOR 5.00
Director
$0 $0 $0
MATT NAHORN DIRECTOR 1.00
Director
$0 $0 $0
JEFF SIGSWORTH DIRECTOR 5.00
Director
$0 $0 $0
JOHN R HANDYSIDE DIRECTOR 1.00
Director
$0 $0 $0
BONNIE IVANCIC FINANCIAL OFFICER 1.00
Officer Director
$0 $0 $0
JACQUELINE KOKAI PRESIDENT 3.00
Officer Director
$0 $0 $0
JEFF KINSLEY DIRECTOR 1.00
Director
$0 $0 $0
ROBERT YUN DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $247,535 $333,909 $2,180,605 $-86,374
2024 $247,535 $333,909 $2,180,605 $-86,374
2023 $564,270 $365,091 $2,187,476 $199,179
2022 $152,942 $293,109 $1,865,957 $-140,167
2021 $316,520 $262,817 $2,283,172 $53,703
2020 $220,700 $287,578 $2,213,603 $-66,878
2019 $317,268 $280,586 $2,076,099 $36,682
2018 $251,437 $248,987 $2,039,566 $2,450
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