2016-05-12T13:17:51-05:00 2015-06-30 MALONEY NOVOTNY LLC 1111 SUPERIOR AVENUE SUITE 700 CLEVELAND OH 44114 990 2014-07-01 510146485 LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION % GARIS DISTELHORST LORA 4403664039 1005 NORTH ABBE ROAD ELYRIA OH 44035 GARIS DISTELHORST EXECUTIVE DIRECTOR 4403664039 2016-05-12 true CHRISTOPHER B ANDERSON P00226559 2163630100 2014 2016-08-17 19:52:53Z GARIS DISTELHORST 1005 N ABBE ROAD ELYRIA OH 44035 17195665 false X WWW.LORAINCCC.EDU/FOUNDATION X 1973 OH TO ASSEMBLE&UTILIZE RESOURCES IN INNOVA- TIVE WAYS TO ASSIST LORAIN COUNTY COMMUNITY COLLEGE IN PROMOTING ITS 4 CORNERSTONES OF EDUCATION, ECONOMIC, CULTURAL & COMMUNITY DEVELOPMENT. 59 58 0 100 0 2219887 10123517 155333 396000 1743980 1484839 -26949 -23334 4092251 11981022 2347854 3074552 0 0 460802 475713 0 0 457757 873954 801267 3682610 4351532 409641 7629490 38409413 46183798 190644 1122928 38218769 45060870 X FOR THE FISCAL YEAR ENDED JUNE 30, 2015, THE LCCC FOUNDATION PROVIDED SUPPORT TO EACH OF THE CORNERSTONES OF LORAIN COUNTY COMMUNITY COLLEGE THROUGH SCHOLARSHIPS AND FACULTY DEVELOPMENT (EDUCATION), INNOVATION FUND (ECONOMIC), SUPPORT FOR STOCKER ARTS CENTER PROGRAMMING (CULTURAL), AND SUPPORT FOR CAMPUS GRANTS PROJECTS (COMMUNITY). false false 635257 635257 0 SCHOLARSHIP SUPPORT - THE FOUNDATION PROVIDED SCHOLARSHIPS TO OVER 606 STUDENTS OF LORAIN COUNTY COMMUNITY COLLEGE BASED ON ACADEMIC SUCCESS, NEED, AND/OR TALENT. 1287410 1262400 396000 INNOVATION FUND - THE FOUNDATION PROVIDED 24 AWARDS TO START-UP TECHNOLOGY COMPANIES THAT DEMONSTRATED STRONG GROWTH POTENTIAL FOR JOBS TO HELP TRANSFORM THE ECONOMY OF THE COMMUNITY WHILE PROVIDING INTERNSHIPS FOR STUDENTS IN THE AREA OF ENTREPRENEURSHIP. THE AWARDS ARE PAID OVER A TERM OF UP TO SEVERAL YEARS PENDING THE AWARDEE COMPANY'S ABILITY TO REACH SPECIFIED MILESTONES IN ITS DEVELOPMENT. 341800 0 0 CAMPUS BEAUTIFICATION PROJECT - THE FUND PROVIDES FOR THE BEAUTIFYING OF THE LCCC CAMPUS AND SPECIFICALLY TO COMMISSION AND INSTALL TWO MAJOR AND UNIQUE SCULPTURES ON CAMPUS ALONG INNOVATION DRIVE. 1246431 1176895 0 OTHER SUPPORT FOR LORAIN COUNTY COMM.COLLEGE 1246431 1176895 0 3510898 true true false true false false false false false true true false false false true true true false false false false false false false true false false true true true false false false false false false false false true false false false false true false false false true 0 0 0 false false false false false true true false false false false X 59 58 true false true false true true false true true false false true true true true true true true true false OH X GARIS DISTELHORST 4403664039 1005 N ABBE RD ELYRIA OH 44035 Philip Amos Director 0.5 0.0 X 0 0 0 Phillip Baptiste Director 0.5 0.0 X 0 0 0 Michael Bramhall Director 0.5 0.0 X 0 0 0 Joseph Cerny Director 0.5 0.0 X 0 0 0 Roy Church Director 0.5 0.0 X 0 0 0 Ronald Cocco Director 0.5 0.0 X 0 0 0 James Cordes Director 0.5 0.0 X 0 0 0 Maureen Cromling Director 0.5 0.0 X 0 0 0 Jeff Desich Director 0.5 0.0 X 0 0 0 Cathy Dietlin Director 0.5 0.0 X 0 0 0 Susanne Dotson Director 0.5 0.0 X 0 0 0 Kevin Flanigan Director 0.5 0.0 X 0 0 0 John Gaudry Director 0.5 0.0 X 0 0 0 Anthony Giardini Director 0.5 0.0 X 0 0 0 Terry Goode Director 0.5 0.0 X 0 0 0 Lawrence Goodman Director 0.5 0.0 X 0 0 0 Marc Guay Director 0.5 0.0 X 0 0 0 Robert Heinrich Director 0.5 0.0 X 0 0 0 David Herzer Director 0.5 0.0 X 0 0 0 Maria Hoke Director 0.5 0.0 X 0 0 0 John Hruska Director 0.5 0.0 X 0 0 0 John Hunter Director 0.5 0.0 X 0 0 0 Jane Jonesco Director 0.5 0.0 X 0 0 0 Rustom Khouri Director 0.5 0.0 X 0 0 0 Donald Knechtges Director 0.5 0.0 X 0 0 0 Robert Knight Director 0.5 0.0 X 0 0 0 Lee Koury Director 0.5 0.0 X 0 0 0 Clark Lubaski Director 0.5 0.0 X 0 0 0 Jack Matia Director 0.5 0.0 X 0 0 0 Joseph McAleese Director 0.5 0.0 X 0 0 0 Kim Meyers Director 0.5 0.0 X 0 0 0 James Miraldi Director 0.5 0.0 X 0 0 0 Greg Mulach Director 0.5 0.0 X 0 0 0 Steve Myers Director 0.5 0.0 X 0 0 0 Sara Jane Norton Director 0.5 0.0 X 0 0 0 Edwin Oley Director 0.5 0.0 X 0 0 0 Thomas Pillari Director 0.5 0.0 X 0 0 0 Daniel Reaser Sr Director 0.5 0.0 X 0 0 0 Judith Riddle Director 0.5 0.0 X 0 0 0 John Schaeffer Director 0.5 0.0 X 0 0 0 Donald Sheldon Director 0.5 0.0 X 0 0 0 Michael Sherman Director 0.5 0.0 X 0 0 0 Mark Skellenger Director 0.5 0.0 X 0 0 0 Barry Smith Director 0.5 0.0 X 0 0 0 Thomas Smith Director 0.5 0.0 X 0 0 0 Scott Sprenger Director 0.5 0.0 X 0 0 0 Nicole Sprenger Director 0.5 0.0 X 0 0 0 Bruce Stevens Director 0.5 0.0 X 0 0 0 Gail Stumphauzer Director 0.5 0.0 X 0 0 0 Frank Sulen Director 0.5 0.0 X 0 0 0 Albert Tegel Director 0.5 0.0 X 0 0 0 Gregory Thaxton Director 0.5 0.0 X 0 0 0 Thomas Tyrrell Director 0.5 0.0 X 0 0 0 Ted Wallingford Director 0.5 0.0 X 0 0 0 Adrian Williams Director 0.5 0.0 X 0 0 0 Dale Yost Director 0.5 0.0 X 0 0 0 Lily Yuzon Director 0.5 0.0 X 0 0 0 Alan Zang Director 0.5 0.0 X 0 0 0 Maria Zolli Director 0.5 0.0 X 0 0 0 Dr Roy Church President and CEO 0.5 40.0 X X 0 723908 135159 Tracy Green Vice President 0.5 40.0 X 0 129170 40149 Charles Wiersma Director of Finance and Operat 40.0 0.0 X 77569 0 27682 Garis Distelhorst Executive Director 25.0 0.0 X 91753 0 16906 169322 853078 219896 0 false true false 0 64617 859583 9199317 112645 10123517 INNOVATION FUND REPLENISHMENT REVENUE 900099 396000 396000 396000 1238962 1238962 0 0 0 0 0 5395853 5149976 245877 245877 245877 41333 64617 64667 -23334 -23334 0 0 0 11981022 396000 1461505 2429795 2429795 644757 644757 0 0 173045 76137 96908 0 195748 56140 139608 51468 18409 33059 48235 24122 24113 7217 3846 3371 0 43644 25107 18537 19835 19835 170000 170000 0 84142 84142 118063 62613 24250 31200 42184 40679 1505 18344 929 9923 7492 19771 3844 400 15527 0 0 6286 517 5769 0 15181 4382 10276 523 0 0 15347 15347 7550 7550 BUILDING OPERATIONS 53806 53806 ANNUAL PROGRAM EXP. 34575 34575 STRATEGIC PARTNERSHIPS 33333 33333 RECOG.,CULTIV.,SPEC.PROJECTS 27609 906 26703 91597 40230 8194 43173 4351532 3510898 382877 457757 824241 1111572 0 0 4646841 3664520 0 0 0 0 0 0 0 11180 0 0 14807 14974 92213 49182 13677 43031 32096192 40468301 78506 135071 0 0 0 0 735149 735149 38409413 46183798 176234 489083 0 0 14410 113845 0 0 0 0 0 0 0 0 0 0 0 520000 190644 1122928 X 361833 105725 13192928 12519880 24664008 32435265 38218769 45060870 38409413 46183798 7629490 -787389 X false true X true false X X 1 LORAIN COUNTY COMMUNITY COLLEGE 340930187 6 true 1167395 0 1 1167395 0 0.44190 true true false false false false false false false false false false false false false false IRS DETERMINATION OF STATUS OF SUPPORTED ORG. - PART IV, SECTION A,LINE 2: THE FOUNDATION SUPPORTS LORAIN COUNTY COMMUNITY COLLEGE, A PUBLIC EDUCATIONAL INSTITUTION. AS A GOVERNMENTAL ENTITY, THE COLLEGE IS NOT GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE CANNOT OBTAIN A LETTER FROM THE INTERNAL REVENUE SERVICE ABOUT ITS PUBLIC CHARITY STATUS UNDER CODE SECTIONS 509(a)(1) OR 509(a)(2). HOWEVER, SECTION 509(a)(1) CONSIDERS AN ORGANIZATION DESCRIBED IN SECTION 170(b)(1)(A) AS A PUBLICLY SUPPORTED ORGANIZATION, AND THE COLLEGE QUALIFIES AS A GOVERNMENTAL UNIT UNDER SECTION 170(b)(1)(A)(v). CONTROL OF SUPPORTING ORGANIZATION - PART IV, SECTION C, LINE 1: A MAJORITY OF THE FOUNDATION'S DIRECTORS ARE NOT ALSO A MAJORITY OF THE DIRECTORS OF LORAIN COUNTY COMMUNITY COLLEGE, THE SUPPORTED ORGANIZATION. HOWEVER, THE COLLEGE CONTROLS THE FOUNDATION THROUGH THE COLLEGE'S PRESIDENT AND VICE PRESIDENT FOR STRATEGIC AND INSTITUTIONAL DEVELOPMENT. THESE 2 INDIVIDUALS HOLD THE HIGHEST-RANKING MANAGERIAL POSITIONS OF THE FOUNDATION WHILE ALSO HOLDING TWO OF THE HIGHEST-RANKING MANAGERIAL POSITIONS AT THE COLLEGE. THUS, THE SAME PERSONS ARE VESTED WITH CONTROL OR MANAGEMENT OF BOTH THE SUPPORTING AND SUPPORTED ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170000 170000 3340898 3510898 325545 81386 268502 289398 297416 325545 1180861 1771292 167850 170000 170000 170000 677850 67126 72350 74354 81386 295216 442824 26597410 8205492 502717 557307 342058 272298 34133956 23571106 419185 3831906 467648 484290 272849 26597410 21725424 455999 2617918 485758 484540 257937 23571106 22479230 678818 -99936 480281 586599 265808 21725424 19215810 670305 3522752 708240 0 221397 22479230 0.94798 0.05202 false false 92913 49182 43031 43031 0 FUNDS HELD AS FISCAL AGENT 520000 520000 X 11267467 -787389 157976 -629413 11896880 84142 84142 11981022 4425366 157976 157976 4267390 84142 84142 4351532 INTENDED USES OF ENDOWMENT FUNDS - PART V, LINE 4: THE FOUNDATION'S ENDOWMENT INCLUDES 158 SCHOLARSHIP FUNDS AND 14 PROGRAM FUNDS. THE FOUNDATION'S OBJECTIVE FOR ITS ENDOWMENT IS TO PRESERVE THE FAIR VALUE OF THE ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. ALL WITHDRAWALS OR TRANSFERS TO OTHER FUNDS ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. FIN 48 (ASC 740) FOOTNOTE - PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(c)(3) AS A NON-GOVERNMENTAL, NON-PROFIT ENTITY UNDER PROVISIONS OF THE INTERNAL REVENUE CODE. THE FOUNDATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(a) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170 OF THE INTERNAL REVENUE CODE. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2015, THE FOUNDATION'S INCOME TAX YEARS FROM 2011 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. GOLF EVENT 67050 51624 15426 11210 9821 10139 3000 6326 LADIES LUNCH 18310 3627 14683 631 980 4916 6750 1 20590 9366 11224 59 8698 900 1237 105950 64617 41333 11900 10801 23753 3900 14313 64667 -23334 true Lorain County Community College 1005 N Abbe Road Elyria OH 44035 340930187 115 1167395 See Part IV Adjuvant Polymers Inc 411 Wolf Ledges Pway 105 Akron OH 44311 464935763 50000 See Part IV Amplified Wind Solutions 30615 Shaker Boulevard Pepper Pike OH 44124 461234958 10000 See Part IV Apollo Medical Devices LLC 2549 Kenilworth Road 5 Cleveland OH 44106 471970909 20000 See Part IV Beegit LLC 21762 Parkdale Avenue Fairview Park OH 44126 464794324 48000 See Part IV Biomendics LLc 3250 West Market Street Fairlawn OH 44333 472566104 20000 See Part IV Blackwolf Tactical 1768 East 25th Street Cleveland OH 44114 461150088 11350 See Part IV Boxcast LLC 14538 Grapeland Avenue Cleveland OH 44111 271498394 44000 See Part IV Brilliency LLC 1301 East 9th St 2320 Cleveland OH 44114 465382230 25000 See Part IV Clean Water Net Ltd DBA Splash Link 24700 Chagrin Blvd Suite 165 Beachwood OH 44122 454862629 25000 See Part IV Cue Social LLC dba Sellhack 1449 Cohasset Avenue Lakewood OH 44107 455296011 11700 See Part IV Environmental Fracturing Solutions Inc 5853 North Crossview Road Seven Hills OH 44131 352487559 100000 See Part IV Complion Inc aka RegBinder Inc 1621 Euclid Avenue Suite 1251 Cleveland OH 44115 461532874 100000 See Part IV Event38 Unmanned Systems Inc 540 S Main Street Suite 457 Akron OH 44311 461969429 25000 See Part IV EveryKey LLC 11471 Euclid Avenue Apt 305 Cleveland OH 44106 463121812 35000 See Part IV ExpenseBot Inc 4934 Stradford Court North Ridgeville OH 44039 463715791 15000 See Part IV Flexible ITO Solutions 11668 Byers Avenue NE Hartville OH 44632 464945959 80000 See Part IV Folio Photonics LLC 29450 Edgedale Road Pepper Pike OH 44124 461152907 30000 See Part IV Full Circle Technologies LLC 33199 Fairmount Blvd Pepper Pike OH 44124 471539423 80000 See Part IV InfoGPSNetworks Inc 5990 Lauby Road Suite 10 North Canton OH 44720 464681073 25000 See Part IV Inlaw Network LLC 250 West Huron Road Suite 250 Cleveland OH 44115 453774069 15000 See Part IV Intwine Connect LLC 8401 Chagrin Road Suite 10B Chagrin Falls OH 44023 800954170 100000 See Part IV IRx Reminder LLC 680 North Portage Path Akron OH 44303 274405694 22000 See Part IV Larad Inc 132 East Liberty Street Wooster OH 44691 462311684 20000 See Part IV Lendulink LLC 5053 Bristol Ct Lyndhurst OH 44124 465483037 20000 See Part IV MegaJoule Storage Inc 1768 East 28th street Cleveland OH 44114 272632737 28000 See Part IV Ocufreeze LLC 10025 Bellhaven Avenue NW Uniontown OH 44685 471915650 6000 See Part IV Paragon Robotics LLC 27331 Tungsten Road Euclid OH 44132 260439762 50000 See Part IV Plxar Imagin 3120 Belvoir Blvd Shaker Hts OH 44122 275562705 21000 See Part IV Prezto Inc 1163 East 40th Street Suite 202 Cleveland OH 44114 463184418 7500 See Part IV Projitech LLC 2268 Stony Hill Road Hinckley OH 44233 464188161 17850 See Part IV Red5 Pharmaceuticals LLC 10000 Cedar Avenue Cleveland OH 44106 464611297 12500 See Part IV Remesh LLC 5215 Cline Road Unit H Kent OH 44240 462952293 110000 See Part IV Sequentia 1163 East 40th Street Suite 206 Cleveland OH 44114 273425530 50500 See Part IV Skysun LLC 24126 Bruce Road Bay Village OH 44140 461780244 7000 See Part IV Terves Inc 24112 Rockwell Drive Euclid OH 44117 462984331 10000 See Part IV 1 34 SCHOLARSHIPS 606 635257 FACULTY AWARDS 11 9500 MONITORING USE OF GRANT FUNDS - PART I, LINE 2: THE FOUNDATION ENSURES THAT ITS FUNDS ARE USED FOR THE INTENDED PURPOSES BY REQUIRING APPLICANTS TO SUBMIT AN APPLICATION WHICH FULLY DESCRIBES THE PROJECT THAT WILL BE FUNDED. THE FOUNDATION PERIODICALLY CHECKS WITH THE RECIPIENTS TO ASSESS THEIR PROGRESS AND TO OBTAIN ASSURANCES THAT THE FUNDS HAVE BEEN USED IN THE MANNERS DESCRIBED IN THE APPLICATIONS. PURPOSE OF GRANTS - PART II, LINE 1, COLUMN H: THE PURPOSE OF THE GRANT PROVIDED TO LORAIN COUNTY COMMUNITY COLLEGE IS TO PROVIDE STUDENT SCHOLARSHIPS, FACULTY INCENTIVES, BUSINESS AND ECONOMIC DEVELOPMENT INITIATIVES, CULTURAL PROGRAMMING, AND COMMUNITY OUTREACH EFFORTS. FOR ALL OTHER RECIPIENTS LISTED IN PART II, THE PURPOSE OF EACH GRANT IS TO NURTURE A TECHNOLOGY-BASED ENTREPRENEURIAL ENVIRONMENT FOR WEALTH CREATION AND JOB GROWTH IN NORTHEAST OHIO. THE FACULTY AWARDS WERE PROVIDED TO FACULTY AT LORAIN COUNTY COMMUNITY COLLEGE AS INCENTIVE-BASED COMPENSATION. X X X false false false false false false false false false Dr Roy Church President and CEO 0 297615 0 370717 0 55576 0 102070 0 33089 0 859067 0 0 Tracy Green Vice President 0 129170 0 0 0 0 0 18084 0 22065 0 169319 0 0 X 3 112645 FMV false true true USE OF THIRD PARTIES - PART I, LINE 32A: THE FOUNDATION UTILIZES THE SERVICES OF A SECURITIES BROKER TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. MEMBERS OF THE ORGANIZATION - FORM 990, PART VI, LINE 6: LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION HAS MEMBERS ACCORDING TO OUR REGULATIONS. THE MEMBERS ARE THE DIRECTORS OF THE FOUNDATION. ELECTION OF MEMBERS OF THE GOVERNING BODY - FORM 990, PART VI, LINE 7A: THE MEMBERS OF THE FOUNDATION, WHICH ARE ALSO THE DIRECTORS, ELECT NEW MEMBERS TO THE GOVERNING BODY ON A PERIODIC BASIS. FORM 990 REVIEW - FORM 990, PART VI, LINE 11B: FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS WITH THE ASSISTANCE OF THE OUTSIDE PUBLIC ACCOUNTING FIRM BEFORE IT IS FILED. MONITORING AND ENFORCEMENT OF CONFLICT POLICY-FORM 990,PART VI,LINE 12C: ANNUALLY, THE BOARD OF DIRECTORS IS REQUIRED TO REVIEW AND SIGN THE OATH OF OFFICE CONTRACT THAT ADDRESSES THE CONFLICT OF INTEREST POLICY. WHEN A CONFLICT ARISES, THE PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE PROPOSED TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. COMPENSATION REVIEW - FORM 990, PART VI, LINE 15: COMPENSATION FOR ALL POSITIONS WITHIN THE FOUNDATION ARE DETERMINED BASED ON THE PAY SCALES THAT ARE ESTABLISHED BY THE LORAIN COUNTY COMMUNITY COLLEGE. ALL EMPLOYEES HAVE AND MAINTAIN A WRITTEN CONTRACT, AND COMPENSATION INCREASES ARE BASED ON APPROVAL BY THE BOARD. AVAILABILITY OF DOCUMENTS - FORM 990, PART VI, LINE 19: THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT POLICY AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. REPORTABLE RELATIONSHIPS - FORM 990, PART VI, LINE 2: NICOLE SPRENGER AND SCOTT SPRENGER HAVE A FAMILY RELATIONSHIP. TOM TYRELL AND DON KNECHTGES HAVE A BUSINESS RELATIONSHIP. CHANGES TO ORGANIZING DOCUMENTS - FORM 990, PART VI, LINE 4: THE FOUNDATION'S CODE OF REGULATIONS WAS REDRAFTED AND APPROVED BY THE DIRECTORS. LORAIN COUNTY COMMUNITY COLLEGE 1005 NABBE RD ELYRIA OH 44035 340930187 COLLEGE OH 115 NA false LORAIN CTYCOMMUNCOLLEGE INNOVATION FDN 1005 N ABBE RD ELYRIA OH 44035 320419899 GRANT-MAKING OH 501(c)(3) 11A NA false false true false false false false false false false false false false false true true true false false true LORAIN COUNTY COMMUNITY COLLEGE 1B 1167395 FMV LORAIN CTYCOMMUNCOLLEGE INNOVATION FDN 1S 500000 FMV