Greater Toledo Community Foundation

Legal name: Toledo Community Foundation Inc

Nonprofit profile at a glance

EIN
237284004
IRS 990 coverage
2012–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Toledo, OH, US
Phone
419.241.5049
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$40,802,522
Expenses
$27,018,966
Assets
$246,863,564
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • MR KEITH BURWELL (PRESIDENT THRU AUGUST 2024)
  • MS KATE SOMMERFELD (PRESIDENT)

Highest reported compensation

  • MR KEITH BURWELL (PRESIDENT THRU AUGUST 2024): $382,946 total reported compensation
  • MRS KIMBERLY CRYAN (CHIEF FINANCIAL OFFICER): $260,720 total reported compensation
  • ABBY ALDRIDGE (EVP OPERATIONS & SPECIAL PROJECTS): $161,504 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Community Foundation creates opportunities, connects generosity and inspires collective action, amplifying impact to strengthen our region.

What it reported doing in 2024

This organization is a public charitable corporation serving the people of northwest Ohio and southeast Michigan. Funds are expended for deserving civic, charitable and benevolent purposes for the betterment of the community and residents.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.6%; rating input score 71
  • Program expense ratio: 93.3%; rating input score 93
  • Fundraising efficiency: $2,744.53 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 97.2%; rating input score 97; 27th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.8%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 9.14; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 4.8%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 70.6% of revenue deployed · 93.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $25.2M in reported program spending
  • Leadership: top reported pay $383K · 25 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $197K reported
  • Consistency: 35 of 37 current checks pass · 2 findings to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 413 filed money-flow records
  • Related organizations: 407 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 53/100.