WORKFORCE INSTITUTE OF LORAIN CTY

EIN: 341930134 501(c)(3) Employment

ELYRIA, OH

Total Revenue
$3,071
Total Expenses
$7,019
Total Assets
$53,404
Net Assets
$53,404
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
OH
Principal Officer
MARY MURPHY
Phone
4403246457
Tax Period
2020-07-01 to 2021-06-30

WORKFORCE INSTITUTE OF LORAIN CTY, founded in 1999, is a micro nonprofit in the Employment sector that reported $3K in total revenue in fiscal year 2020. Revenue decreased 5% compared to the prior year. Expenses of $7K exceeded revenue, resulting in a 129% operating deficit.

Mission

TO SERVE AS A COUNTY-WIDE RESOURCE DEDICATED TO ADDRESSING CURRENT AND FUTURE WORKFORCE NEEDS THROUGH DATA COLLECTIONS, INFORMATION ANALYSIS, COLLECTIVE ACTION AND EVALUATION.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,028
Investment Income $43
Other Revenue $0
TOTAL REVENUE $3,071

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $7,019
Other Expenses $7,019
TOTAL EXPENSES $7,019

Year-over-Year Comparison

2020 2019 Change
Revenue $3,071 $3,245 -0.1%
Expenses $7,019 $5,338 +0.3%
Net Income $-3,948 $-2,093 +0.9%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
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
2
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARCIA BALLINGER DIRECTOR N/A
Director
$0 $0 $0
ROY CHURCH CHAIRMAN OF N/A
Officer Director
$0 $0 $0
GLENN FAIRCLOTH DIRECTOR N/A
Director
$0 $0 $0
MARY MURPHY EXECUTIVE DI N/A
Officer
$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
2021 $3,071 $7,019 $53,404 $-3,948
2020 $3,245 $5,338 $58,081 $-2,093
2019 $359 $12,207 $62,617 $-11,848
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