The University Of Toledo Foundation
- Assets
- $690.2m
- Revenue
- $41.5m
- Investments
- $159.5m
- Employees
- 106
- Location
- Toledo, OH
- Founding
- 07/1964
- Data as of
- 06/2021
- EIN
- 34-6555110
Organization Overview
The University Of Toledo Foundation is located in Toledo, OH. The organization was established in 1964. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Toledo Foundation employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Toledo Foundation 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 06/2021, University Of Toledo Foundation generated $41.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $21.4m during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IN SUPPORT OF THE UNIVERSITY OF TOLEDO AND THE STUDENTS OF THE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS ARE PROVIDED FOR BOOKS, TUITION, AND HOUSING FOR STUDENTS ATTENDING THE UNIVERSITY OF TOLEDO.
SUPPORT TO THE UNIVERSITY OF TOLEDO FOR ITEMS FOR EDUCATIONAL, ATHLETIC, AND CAPITAL IMPROVEMENT PURPOSES.
SUPPORT OF THE UNIVERSITY OF TOLEDO IN THEIR CHARITABLE PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Huber Chair | OfficerTrustee | 1 | $0 |
Susan Payden Vice-Chair | OfficerTrustee | 1 | $0 |
Jim Beckman Treasurer | OfficerTrustee | 1 | $0 |
Susan Palmer Secretary | OfficerTrustee | 1 | $0 |
Michael Bell Trustee | Trustee | 1 | $0 |
Sheri Bokros Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northern Trust Company Investment Management | 6/29/22 | $354,654 |
Fund Evaluation Group Investment Management | 6/29/22 | $257,650 |
Aramark Services Inc Cafeteria Services | 6/29/22 | $250,636 |
Westfield Capital Mgmt Investment Management | 6/29/22 | $217,876 |
Holland Inc Building Services Cade Building Maint/cleaning | 6/29/22 | $205,961 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,636,690 |
| Investment income | $4,729,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,085,323 |
| Net Gain/Loss on Asset Sales | $14,229,860 |
| Net Income from Fundraising Events | $61,525 |
| Net Income from Gaming Activities | $39,848 |
| Net Income from Sales of Inventory | $324,845 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,543,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $8,172 |
| Grants and other assistance to Foreign Orgs/Individuals | $500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $443,267 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,131,892 |
| Pension plan accruals and contributions | $303,665 |
| Other employee benefits | $646,472 |
| Payroll taxes | $328,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,129 |
| Fees for services: Accounting | $51,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $167,603 |
| Fees for services: Investment Management | $849,239 |
| Fees for services: Other | $140,479 |
| Advertising and promotion | $0 |
| Office expenses | $138,927 |
| Information technology | $138,008 |
| Royalties | $0 |
| Occupancy | $40,066 |
| Travel | $37,799 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $119,598 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,294 |
| Insurance | $33,636 |
| All other expenses | $0 |
| Total functional expenses | $21,399,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,852,372 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,631,170 |
| Accounts receivable, net | $856,547 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,303,504 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,789 |
| Investments—publicly traded securities | $462,293,176 |
| Investments—other securities | $159,457,047 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,606,728 |
| Total assets | $690,162,176 |
| Accounts payable and accrued expenses | $1,810,739 |
| Grants payable | $0 |
| Deferred revenue | $38,034 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $255,528,062 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,346,740 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,716,746 |
| Total liabilities | $272,440,321 |
| 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 |
| Total liabilities and net assets/fund balances | $417,721,855 |
Grants Awarded
Over the last fiscal year, The University Of Toledo Foundation has awarded $13,004,304 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF TOLEDO PURPOSE: TO SUPPORT THE UNIVERSITY OF TOLEDO IN ITS EXEMPT PURPOSE | $8,193,533 |
UNIVERSITY OF TOLEDO PURPOSE: SCHOLARSHIPS FOR STUDENTS AT THE UNIVERSITY OF TOLEDO | $4,810,771 |