Toledo Classic Inc
- Assets
- $796.6k
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Toledo, OH
- Founding
- 02/1987
- Data as of
- 09/2023
- EIN
- 34-1499072
Organization Overview
Toledo Classic Inc, operating under the name Dana Open, 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 09/2023, Dana Open employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dana Open 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 09/2023, Dana Open generated $4.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $5.1m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Dana Open has awarded 181 individual grants totaling $4,534,703. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TOLEDO CLASSIC, INC. CONDUCTS THE DANA OPEN. 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 2023 DANA OPEN 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 |
|---|---|---|---|
Kurt Manz Director | Trustee | 1 | $0 |
Judd Silverman President | OfficerTrustee | 40 | $301,154 |
Marc Stockwell Treasurer | OfficerTrustee | 1 | $0 |
Steve Poturalski Secretary | OfficerTrustee | 1 | $0 |
Tony Clark Director | Trustee | 1 | $0 |
Mike Collins 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 | $0 |
| 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 | $0 |
| Total Program Service Revenue | $4,911,323 |
| Investment income | $14,707 |
| 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 | $4,926,030 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $215,500 |
| 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. | $288,391 |
| Compensation of current officers, directors, key employees. | $288,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $255,558 |
| Pension plan accruals and contributions | $2,923 |
| Other employee benefits | $20,589 |
| Payroll taxes | $30,276 |
| Fees for services: Management | $4,870 |
| 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 | $288,382 |
| Office expenses | $218,824 |
| Information technology | $29,086 |
| Royalties | $0 |
| Occupancy | $50,601 |
| Travel | $92,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,471 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $43,904 |
| All other expenses | $664,433 |
| Total functional expenses | $5,099,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,062 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,500 |
| 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 | $697,475 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $520 |
| Total assets | $796,557 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $215,500 |
| 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 | $0 |
| Total liabilities | $215,500 |
| 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 | $581,057 |
| Total liabilities and net assets/fund balances | $796,557 |
Grants Awarded
Over the last fiscal year, Toledo Classic Inc has awarded $185,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
MAUMEE VALLEY HABITAT FOR HUMANITY PURPOSE: SUPPORTS & ASSISTS MAUMEE VALLEY HABITAT FOR HUMANITY WOMEN'S BUILD | $10,000 |
JAMIE FARR SCHOLARSHIP FUND PURPOSE: COLLEGE SCHOLARSHIPS | $15,500 |
RONALD MCDONALD HOUSE CHARITIES PURPOSE: CAPITAL FUNDS PROJECT | $50,000 |
CHRIST CHILD SOCIETY PURPOSE: PROVIDE CLOTHING FOR CHILDREN IN NEED | $10,000 |
FAMILY HOUSE PURPOSE: PROVIDE EMERGENCY FAMILY SHELTER & SUPPORT WITH NEEDS DURING TRANSITION TO PERMANENT HOUSING | $20,000 |
NATIONWIDE CHILDREN'S HOSPITAL - TOLEDO PURPOSE: SUPPORTS NATIONWIDE CHILDREN'S HOSPITAL - TOLEDO | $10,000 |