Toledo Classic Inc
- Assets
- $1.9m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Toledo, OH
- Founding
- 02/1987
- Data as of
- 09/2021
- EIN
- 34-1499072
Organization Overview
Toledo Classic Inc, operating under the name Marathon Classic, is located in Toledo, OH. The organization was established in 1987. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 09/2021, Marathon Classic employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marathon Classic 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 09/2021, Marathon Classic generated $6.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $6.5m during the year ending 09/2021. While expenses have increased by 3.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Marathon Classic has awarded 130 individual grants totaling $3,445,974. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TOLEDO CLASSIC, INC. CONDUCTS THE MARATHON CLASSIC. THE NET PROCEEDS OF THIS EVENT ARE DISTRIBUTED TO TOLEDO AREA CHILDREN'S CHARITIES TO BE USED FOR CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NET REVENUES IN EXCESS OF UNDISTRIBUTED TOURNAMENT EQUITY FROM THE 2021 MARATHON CLASSIC LADIES PROFESSIONAL GOLF ASSOCIATION GOLF TOURNAMENT WERE DISTRIBUTED TO VARIOUS CHARITABLE ORGANIZATIONS IN THE TOLEDO AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judd Silverman President | OfficerTrustee | 40 | $369,615 |
Marc Stockwell Treasurer | OfficerTrustee | 1 | $0 |
Steve Poturalski Secretary | OfficerTrustee | 1 | $0 |
Alex Gerken Chairman Of The Board | OfficerTrustee | 1 | $0 |
Sydney Spraw Director | Trustee | 1 | $0 |
Kurt Manz Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sports America Inc Bleacher & Tent Vendor | 9/29/19 | $217,931 |
Pinnacle Catering Llc Catering & Concession Vendor | 9/29/19 | $192,804 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,400 |
| Total Program Service Revenue | $6,323,915 |
| Investment income | $15,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $6,431,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $815,810 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $421,686 |
| Compensation of current officers, directors, key employees. | $421,686 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $306,206 |
| Pension plan accruals and contributions | $8,498 |
| Other employee benefits | $33,575 |
| Payroll taxes | $39,582 |
| Fees for services: Management | $7,743 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $309,918 |
| Office expenses | $218,816 |
| Information technology | $25,400 |
| Royalties | $0 |
| Occupancy | $49,604 |
| Travel | $71,292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $40,138 |
| All other expenses | $617,326 |
| Total functional expenses | $6,478,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,014 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,335,427 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $168 |
| Total assets | $1,903,609 |
| Accounts payable and accrued expenses | $27,148 |
| Grants payable | $755,750 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,953 |
| Total liabilities | $802,851 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,100,758 |
| Total liabilities and net assets/fund balances | $1,903,609 |
Grants Awarded
Over the last fiscal year, Toledo Classic Inc has awarded $815,810 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
Norwalk, OH PURPOSE: FIRST TEE OF LAKE ERIE CAPITAL FUND | $106,250 |
Ottawa, OH PURPOSE: ENHANCING THE SERVICES THAT CHALLENGED CHAMPIONS CAN PROVIDE TO INDIVIDUALS | $54,000 |
Toledo, OH PURPOSE: CAPITAL FUNDS PROJECT | $50,000 |
Maumee, OH PURPOSE: KIDS PLAYHOUSE BUILD & WOMEN'S INITIATIVE BUILD | $50,000 |
Toledo, OH PURPOSE: FAMILIES IN RECOVERY STICKING TOGETHER PROGRAM | $40,000 |
Ottawa, OH PURPOSE: PUTNAM COUNTY YOUTH ENRICHMENT PROGRAM | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Toledo Classic Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Kroger Co Zero Hunger Zero Waste Foundation Cincinnati, OH PURPOSE: ORGANIZATION'S CHARITABLE PURPOSE | $25,000 |
Premier Bank Foundation Canfield, OH PURPOSE: CHARITABLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ball Brothers Foundation Muncie, IN | $163,131,007 | $28,120,087 |
Crim Fitness Foundation Inc Flint, MI | $5,078,981 | $6,543,368 |
Toledo Classic Inc Toledo, OH | $1,903,609 | $6,431,231 |
George And Frances Ball Foundation Muncie, IN | $76,278,352 | $7,203,214 |
The Kroger Helping Hands Fund Benefits Trust Cincinnati, OH | $21,338,883 | $10,000,000 |
Park National Bank Foundation Park National Bank Newark, OH | $15,877,753 | $5,232,147 |
Edmund F And Virginia B Ball Foundation Inc Muncie, IN | $23,329,269 | $2,218,558 |
The Ball Family Foundation King of Prussia, PA | $4,322 | $1,729,500 |
Philly Races Inc Philadelphia, PA | $1,385,166 | $1,813,595 |
Percival P Baxter Trust Uw 14-0068 00-8 Pittsburgh, PA | $55,111,049 | $4,471,251 |
Endowment Fund Of Maccabi Usa Sports For Israel Inc Philadelphia, PA | $20,966,655 | $4,538,606 |
Pennsylvania State Alliance Of Ymcas Harrisburg, PA | $1,701,535 | $887,296 |