ELYRIA MEDICAL CENTER FOUNDATION

EIN: 611579760 501(c)(3) Human Services

ELYRIA, OH

Total Revenue
$1,137,757
Total Expenses
$683,579
Total Assets
$21,238,407
Net Assets
$20,975,853
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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
2013
Legal Domicile
OH
Principal Officer
KEVIN FLANIGAN
Phone
4143197053
Tax Period
2023-01-01 to 2023-12-31

ELYRIA MEDICAL CENTER FOUNDATION, founded in 2013, is a community nonprofit in the Human Services sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $454K, a strong 40% operating margin.

Mission

SUPPORT AND ASSIST UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER IN ITS EFFORTS TO SERVE THE NEEDS OF LORAIN COUNTY RESIDENTS AND ITS SURROUNDING COMMUNITIES BY PROVIDING FUNDING FOR ENHANCED OR ADDITIONAL PROGRAMS THAT OTHERWISE MIGHT NOT BE AVAILABLE.

Program Service Accomplishments

Program 1
Expenses: $676,760

THE FOUNDATION GRANTS ASSISTANCE TO UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER TO FURTHER ENHANCE THE MEDICAL CENTER'S MISSION AND COMMUNITY BENEFIT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $59,472
Program Service Revenue $0
Investment Income $1,078,285
Other Revenue $0
TOTAL REVENUE $1,137,757

Expense Breakdown

Grants Paid $615,135
Salaries & Benefits $61,625
Fundraising Expenses $0
Program Expenses $676,760
Other Expenses $6,819
TOTAL EXPENSES $683,579

Year-over-Year Comparison

2023 2022 Change
Revenue $1,137,757 $738,144 +0.5%
Expenses $683,579 $1,128,925 -0.4%
Net Income $454,178 $-390,781 -2.2%
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
9
Independent Members
7
Employees
N/A
Volunteers
7

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
$1,160,626
Total Directors
9
$1,160,626
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BOND BRADLEY C DIRECTOR/SECRETARY/TREASURER 2.00
Officer Director
$0 $62,070 $687,037
HARFORD TODD DIRECTOR/PRESIDENT 2.00
Officer Director
$0 $61,001 $473,589
FLANIGAN KEVIN J DIRECTOR/CHAIRPERSON 2.00
Officer Director
$0 $0 $0
YOST ROBERT DIRECTOR 2.00
Director
$0 $0 $0
TWEARDY KIMBERLY DIRECTOR 2.00
Director
$0 $0 $0
RYAN SPENCER DIRECTOR 2.00
Director
$0 $0 $0
PEARL JERRY DIRECTOR 2.00
Director
$0 $0 $0
LENT DANIEL DIRECTOR 2.00
Director
$0 $0 $0
MOLE KAREN L DIRECTOR/VICE PRESIDENT 2.00
Officer 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 No data No data No data No data
2023 $1,137,757 $683,579 $21,238,407 $454,178
2022 $738,144 $1,128,925 $19,191,911 $-390,781
2021 $2,496,441 $310,393 $24,181,927 $2,186,048
2020 $614,778 $700,720 $22,152,208 $-85,942
2019 $725,435 $2,281,109 $21,121,506 $-1,555,674
2018 $942,768 $318,315 $18,519,461 $624,453
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