Nonprofit · EIN 34-1022034
LORAIN FOUNDATION
Tax-exempt · LORAIN, OH 44052
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $64,646 | $75,366 | -$10,720 | $1,071,363 | $0 | $1,071,363 |
| December 31, 2023 | 990-PF | $54,720 | $80,097 | -$25,377 | $1,082,083 | $0 | $1,082,083 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $30,198
- Interest
- $1,978
- Other income
- $32,470
Expenses
- Grants and similar amounts paid
- $54,064
- Disbursements for charitable purposes
- $54,064
- Excise tax on investment income
- $151
Balance sheet and other
- Total assets, start of year
- $1,082,083
- Total assets, end of year
- $1,071,363
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,071,363
- Qualifying distributions
- $54,064
- Net investment income
- $32,176
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KELLY BOYER-SAGERT 1131 W 5TH STREET, LORAIN, OH 44052 | TRUSTEE | 0 | $0 |
| RICHARD J COLELLA 5780 PRESERVE LANE, SHEFFIELD VILLAGE, OH 44054 | TRUSTEE | 0 | $0 |
| EDWARD BRANHAM 39235 HAWTHORNE DR, AVON, OH 44011 | TRUSTEE | 0 | $0 |
| STEPHEN CHAVEZ 10247 DEWHURST RD, ELYRIA, OH 44035 | TRUSTEE | 0 | $0 |
| LISA ARNOCZKY 457 BROADWAY, LORAIN, OH 44052 | TRUST OFFICE | 0 | $0 |
990-PF for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KELLY BOYER-SAGERT 1131 W 5TH STREET, LORAIN, OH 44052 | TRUSTEE | 0 | $0 |
| RICHARD J COLELLA 5780 PRESERVE LANE, SHEFFIELD VILLAGE, OH 44054 | TRUSTEE | 0 | $0 |
| EDWARD BRANHAM 39235 HAWTHORNE DR, AVON, OH 44011 | TRUSTEE | 0 | $0 |
| STEPHEN CHAVEZ 10247 DEWHURST RD, ELYRIA, OH 44035 | TRUSTEE | 0 | $0 |
| LISA ARNOCZKY 457 BROADWAY, LORAIN, OH 44052 | TRUST OFFICE | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 457 BROADWAY, LORAIN, OH 44052-1739
- Signed the 990-PF
- LISA ARNOCZKY, TRUST OFFICER
- Phone
- (440) 244-6000
- Return prepared by
- MAJKUT CPAS LTD
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 34-1022034
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1973
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $1,071,363
- Income (IRS master file)
- $64,646
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $64,646 | $75,366 | $1,071,363 | XML |
| 990-PF | December 2023 | $54,720 | $80,097 | $1,082,083 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 34-1022034).
Questions about LORAIN FOUNDATION
- What is the EIN of LORAIN FOUNDATION?
- The employer identification number (EIN) of LORAIN FOUNDATION is 34-1022034.
- Is LORAIN FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1973.
- Are donations to LORAIN FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does LORAIN FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of LORAIN FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LORAIN FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of LORAIN FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does LORAIN FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $64,646, expenses of $75,366 and total assets of $1,071,363 at year end.
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