Elyria Charities Inc

Nonprofit profile at a glance

EIN
300277860
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Elyria, OH, USA
Phone
4403650205
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Children's, Youth Services

Official website

Reported finances

Revenue
$1,096,459
Expenses
$769,880
Assets
$2,582,306
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • RACHAEL SPEIDEL (PRESIDENT/DIRECTOR)

Highest reported compensation

  • WILLIAM SPEIDEL (EXECUTIVE DIR,/TREASURE): $101,600 total reported compensation
  • TERI SPEIDEL (ASST EXEC DIR,/TRUSTEE): $95,840 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Elyria charities provides financial support to educational and health organizations throughout northeast Ohio.

What it reported doing in 2024

Grants provided to sporting and other organizations for athletics activities to increase capabilites of students by cultivating clean, wholesome sportsmanship and developing high ideals of character. Approximately 10,000 individuals benefited in 2024.

Operating model

Revenue model
Other-operating. 80% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 86
  • Accountability: 67
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.1%; rating input score 72
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.9%; rating input score 97; 44th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 71.4%; rating input score 71; 15th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.8%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 3.35; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 25.9% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 19.7% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 24.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 72.1% of revenue deployed · 92.7% of spending went to programs
  • Governance: 5 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $714K in reported program spending
  • Leadership: top reported pay $102K · 7 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 32 filed money-flow records
  • Related organizations: 30 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.