Lake County Visitors Bureau Inc

Nonprofit profile at a glance

EIN
341607639
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Painesville, OH, USA
Phone
4409751234
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,250,611
Expenses
$1,278,171
Assets
$936,736
Liabilities
$13,656

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ROBERT FIALA (PRESIDENT)

Highest reported compensation

  • NEIL STEIN (EXECUTIVE DI): $116,858 total reported compensation

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

Overview

Mission

Promote tourism in lake county Ohio.

What it reported doing in 2024

Increase overnight stays in lake county, Ohio by promoting travel and tourism to the area in partnership without members and stakeholders.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 80
  • Accountability: 79
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.9%; rating input score 63
  • Program expense ratio: 60.6%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 61.4%; rating input score 61; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 62.9% of revenue deployed · 60.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $774K in reported program spending
  • Leadership: top reported pay $117K · 9 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 12 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: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.