Downtown Toledo Development Corporation

Organization Overview

Downtown Toledo Development Corporation is located in Toledo, OH. The organization was established in 2005. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Downtown Toledo Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Toledo Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Downtown Toledo Development Corporation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

DOWNTOWN TOLEDO DEVELOPMENT CORPORATION (DTDC) IS A NON-PROFIT ORGANIZATION FORMED FOR THE PURPOSE OF FURTHERING DEVELOPMENT AND COMMERCIAL ACTIVITY IN DOWNTOWN TOLEDO. ACTIVITIES PERFORMED BY DTDC INCLUDE DEVELOPMENT THROUGH BEAUTIFICATION AND DESIGN WORK.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION WORKED TO FURTHER DEVELOPMENT AND COMMERCIAL ACTIVITY IN DOWNTOWN TOLEDO THROUGH BEAUTIFICATION AND DESIGN WORK.


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Board, Officers & Key Employees

Name (title)Compensation
Paul Toth
President
$121,333
Sharon Speyer
Chair
$0
Tom Manahan
Vice Chair
$0
Jason Kucsma
Treasurer
$0
Gene Abercrombie
Secretary
$0
Randy Oostra
Past-Chairman
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$400,222
Fundraising events$0
Related organizations$0
Government grants $65,922
All other contributions, gifts, grants, and similar amounts not included above$143,780
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$609,924
Total Program Service Revenue$891,167
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$173,993
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,327,098

Grants Awarded

Over the last fiscal year, Downtown Toledo Development Corporation has awarded $2,227,548 in support to 2 organizations.

Grant RecipientAmount

TOLEDO-LUCAS COUNTY PORT AUTHORITY

PURPOSE: MANAGEMENT FEES RELATED TO PART AUTHORITY DEBT SERVICE PAYMENTS

$1,217,914

TOLEDO-LUCAS COUNTY PORT AUTHORITY

PURPOSE: AS STATED IN SECTION 7.03 OF THE PARKING MANAGEMENT AGREEMENT "PARKING SYSTEM REVENUES IN EXCESS OF PARKING SYSTEM EXPENSES, AMOUNTS DEPOSITED IN THE FINANCING ACCOUNT ESTABLISHED BY ARTICLE 8 OF THIS AGREEMENT, AND AMOUNTS DEPOSITED IN THE CAPITAL IMPROVEMENTS RESERVE FUND AS THE END OF EACH CALENDAR YEAR SHALL BE REMITTED TO THE AUTHORITY FOR APPLICATION IN ACCORDANCE WITH THE FRANCHISE AGREEMENT."

$1,009,634
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Downtown Toledo Development Corporation has recieved totaling $65,222.

Awarding OrganizationAmount
The O-I Charities Foundation

Perrysburg, OH

PURPOSE: CHARITABLE SUPPORT

$25,000
Toledo Community Foundation

Toledo, OH

PURPOSE: GENERAL SUPPORT FOR CONNECTOLEDO, 2021 CONNEC TOLEDO DUES

$15,222
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$15,000
Premier Bank Foundation

Canfield, OH

PURPOSE: CHARITABLE

$10,000
View Grant Recipient Profile

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