LAKE COUNTY LAND REUTILIZATION CORP

EIN: 900889645 501(c)(3) Community Improvement

PAINESVILLE, OH

Total Revenue
$1,507,562
Total Expenses
$1,769,791
Total Assets
$7,315,314
Net Assets
$7,313,519
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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
2012
Principal Officer
JOHN M ROGERS
Phone
4403502133
Tax Period
2023-01-01 to 2023-12-31

LAKE COUNTY LAND REUTILIZATION CORP, founded in 2012, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.8M exceeded revenue, resulting in a 17% operating deficit.

Mission

LAKE COUNTY LAND REUTILIZATION CORPORATION HOLDS AND MANAGES VACANT, ABANDONED OR TAX-FORECLOSED REAL PROPERTY PENDING ITS RECLAMATION, REHABILITATION AND REUTILIZATION. THE COMPANY TAKES THE NECESSARY STEPS TO CLEAR TITLE OF THE PREVIOUSLY DESCRIBED PROPERTIES. THE COMPANY FURTHER ASSISTS OTHER GOVERNMENTAL ENTITIES WITH THE ASSEMBLY OF PROPERTIES FOR FUTURE DEVELOPMENT, WHILE ALSO ASSISTING OTHER NON-PROFIT AND FOR-PROFIT ENTITIES WITH REDEVELOPMENT RENOVATION OR REVITALIZATION EFFORTS.

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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 $1,362,605
Program Service Revenue $43,325
Investment Income $101,632
Other Revenue $0
TOTAL REVENUE $1,507,562

Expense Breakdown

Grants Paid $0
Salaries & Benefits $151,015
Fundraising Expenses $0
Program Expenses $1,769,791
Other Expenses $1,618,776
TOTAL EXPENSES $1,769,791

Year-over-Year Comparison

2023 2022 Change
Revenue $1,507,562 $1,505,845 +0.0%
Expenses $1,769,791 $1,242,736 +0.4%
Net Income $-262,229 $263,109 -2.0%
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
9
Employees
1
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
3
$68,648
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN M ROGERS EXECUTIVE DI 40.00
Officer
$68,648 $0 $68,648
MALCOLM A CHAFER BOARD MEMBER 1.00
Director
$0 $0 $0
GABE CICCONETTI VICE-CHAIRMA 1.00
Officer Director
$0 $0 $0
JACK CORNACHIO BOARD MEMBER 1.00
Director
$0 $0 $0
KENNETH FILIPIAK BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN HAMERCHECK BOARD MEMBER 1.00
Director
$0 $0 $0
HON TIMOTHY S MANROSS CHAIRMAN 1.00
Officer Director
$0 $0 $0
RICHARD J REGOVICH BOARD MEMBER 1.00
Director
$0 $0 $0
JEFF SHIBLEY BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL ZUREN BOARD MEMBER 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 No data No data No data No data
2023 $1,507,562 $1,769,791 $7,315,314 $-262,229
2022 $1,505,845 $1,242,736 $7,577,246 $263,109
2021 $1,535,157 $1,044,240 $7,298,873 $490,917
2020 $2,015,391 $2,059,633 $6,807,898 $-44,242
2019 $1,259,982 $2,939,402 $6,852,182 $-1,679,420
2018 $2,946,642 $1,778,877 $8,475,464 $1,167,765
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