Elyria 778 Charities Inc.

Overview

Elyria 778 Charities Inc. is a nonprofit organization based in Elyria, Ohio, established in 2004. It is designated as a public charity under the IRS for its educational and charitable purposes. The organization primarily provides financial support to educational institutions and initiatives throughout Northeast Ohio, contributing to the betterment of community services and support for youth.

Mission

The mission of Elyria 778 Charities Inc. is to enhance educational opportunities and provide financial assistance to schools and educational programs, thereby fostering academic growth and community development.

Financial Information

Elyria 778 Charities Inc. has demonstrated a commitment to financial transparency and accountability, reflected in its annual tax filings under Form 990. As of the latest reported fiscal year:

• Total Revenue: Approximately $961,000
• Total Expenses: Approximately $559,000
• Total Assets: Approximately $2.26 million

Major sources of revenue include contributions and investment income, while notable expenses involve executive compensation and operational costs associated with its charitable activities[1][2].

Leadership

Key leadership positions within Elyria 778 Charities Inc. include:

• William T. Speidel: Director, Secretary/Treasurer, and Executive Director
• Joseph Buga: President
• Other trustees include Rachael Speidel, Russell Miller, and Chris Kelley, who play significant roles in governance and strategic direction.

Community Impact

In 2023, Elyria 778 Charities Inc. reported granting approximately $311,980 in funding to local educational organizations, underscoring its active role in supporting educational advancements and related services in the region. The organization is rated with 3 out of 4 stars on Charity Navigator, indicating a strong performance in financial health and accountability practices[3][4].

Conclusion

Elyria 778 Charities Inc. continues to play a vital role in the educational landscape of Northeast Ohio, fostering a stronger community through its commitment to supporting educational initiatives and providing necessary resources for local youths.