Nonprofit · EIN 34-6555110
THE UNIVERSITY OF TOLEDO FOUNDATION
Tax-exempt · TOLEDO, OH 43615
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $40,509,886 | $29,530,063 | $10,979,823 | $845,033,402 | $384,311,643 | $460,721,759 |
| June 30, 2024 | 990 | $35,443,468 | $29,230,416 | $6,213,052 | $784,710,766 | $356,885,472 | $427,825,294 |
| June 30, 2023 | 990 | $29,920,252 | $28,195,347 | $1,724,905 | $719,025,431 | $324,589,479 | $394,435,952 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $14,882,419
- of which government grants
- $382,102
- Membership dues
- $68,910
- Program service revenue
- $4,622,824
- Investment income
- $21,126,217
- Net rental income
- -$1,494,448
- Net gain from sales of assets
- $13,214,489
- Net income from fundraising events
- -$32,171
- Net income from gaming
- $61,214
- Net income from sales of inventory
- $250,027
- Other revenue
- -$121,574
Expenses
- Grants and similar amounts paid
- $17,238,510
- Compensation of officers, directors and key employees
- $752,776
- Other salaries and wages
- $5,725,268
- Salaries, compensation and benefits (total)
- $7,905,316
- Professional fundraising fees
- $61,408
- Legal fees
- $14,497
- Accounting fees
- $86,266
- Occupancy
- $296,515
- Travel
- $164,865
- Depreciation
- $109,357
- Program services (functional)
- $17,284,672
- Management and general (functional)
- $6,575,747
- Fundraising (functional)
- $5,669,644
Balance sheet and other
- Total assets, start of year
- $784,710,766
- Total assets, end of year
- $845,033,402
- Total liabilities, end of year
- $384,311,643
- Net assets, end of year
- $460,721,759
- Land, buildings and equipment
- $39,385,306
- Publicly traded securities
- $478,893,067
- Net assets without donor restrictions
- $76,904,167
- Net assets with donor restrictions
- $383,817,592
- Gross unrelated business income
- $178,181
- Gross receipts
- $158,015,531
- Employees
- 66
- Volunteers
- 27
- Year formed
- 1964
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FLOYD AKINS | VP OF ADVANCEMENT (THROUGH 01/2025) Key employee | 40 | $273,648 | $97,947 |
| BRENDA S LEE | PRESIDENT Officer | 38 | $283,851 | $32,522 |
| WILLIAM PIERCE | ASSOCIATE VP OF ALUMNI ENG Highest-paid employee | 10 | $203,522 | $36,104 |
| BARB FISCHER | ASSOCIATE VP OF ADVANCEMEN Highest-paid employee | 40 | $185,385 | $35,027 |
| RANDY ROTHENBUHLER | CFO Officer | 35 | $185,499 | $33,437 |
| DAVID ZELENKA | ASSOCIATE VP OF HEALTH FIN Highest-paid employee | 40 | $190,337 | $24,454 |
| JENNIFER SCHAEFER | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $149,721 | $44,941 |
| MAREN KURTZ | ASSOCIATE VP OF HR & ADV. Highest-paid employee | 40 | $161,151 | $31,540 |
| SUSAN PAYDEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| NANCY MILLER | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| YVONNE MCNULTY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| NADEEM SALEM | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT BLEILE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHERI BOKROS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES CALDWELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
20 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIFFANY CAVANAUGH | TRUSTEE Trustee or director | 1 | $0 |
| JEFFREY COLE | TRUSTEE Trustee or director | 1 | $0 |
| MUI-LING Y DONG | TRUSTEE Trustee or director | 1 | $0 |
| MYRON DUHART | TRUSTEE Trustee or director | 1 | $0 |
| JAMES JAROS | TRUSTEE Trustee or director | 1 | $0 |
| GEORGE LATHROP | TRUSTEE Trustee or director | 1 | $0 |
| JEAN LOVEJOY | TRUSTEE Trustee or director | 1 | $0 |
| EVA MCQUILLEN | TRUSTEE Trustee or director | 1 | $0 |
| SHAWN NELSON | TRUSTEE Trustee or director | 1 | $0 |
| DAVID NOTTKE | TRUSTEE Trustee or director | 1 | $0 |
| STEVEN REINBOLT | TRUSTEE Trustee or director | 1 | $0 |
| BRADLEY J RIEGER | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW RUBIN | TRUSTEE Trustee or director | 1 | $0 |
| ROBERT SCHOONMAKER | TRUSTEE Trustee or director | 1 | $0 |
| RASESH SHAH | TRUSTEE Trustee or director | 1 | $0 |
| MARTIN SUTTER | TRUSTEE Trustee or director | 1 | $0 |
| THOMAS WAKEFIELD | TRUSTEE Trustee or director | 1 | $0 |
| ROBIN WHITNEY | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW SCHROEDER | EX-OFFICIO Trustee or director | 1 | $0 |
| ANDREW SWINERTON | EX-OFFICIO Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 35 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FLOYD AKINS | VICE-PRESIDENT FOR ADVANCEMENT Key employee | 40 | $262,200 | $110,275 |
| BRENDA S LEE | PRESIDENT Officer | 38 | $255,208 | $28,168 |
| WILLIAM PIERCE | ASSOCIATE VP OF ALUMNI ENG Highest-paid employee | 10 | $199,007 | $38,534 |
| BARB FISCHER | ASSOCIATE VP OF ADVANCEMENT SERVICES Highest-paid employee | 40 | $180,300 | $31,742 |
| RANDY ROTHENBUHLER | CFO Officer | 35 | $179,462 | $29,768 |
| JENNIFER SCHAEFER | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $138,880 | $34,746 |
| DAVID ZELENKA | ASSOCIATE VP OF HEALTH FINANCE Highest-paid employee | 40 | $149,805 | $18,934 |
| MAREN KURTZ | ASSOCIATE VP OF HR & ADV. OPERATIONS Highest-paid employee | 40 | $133,084 | $26,188 |
| SUSAN PAYDEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| NANCY MILLER | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| YVONNE MCNULTY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| NADEEM SALEM | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL BELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHERI BOKROS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES CALDWELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIFFANY CAVANAUGH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MUI-LING Y DONG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DANA FITZSIMMONS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW FORTUNAK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOHN HUBER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES JAROS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEORGE LATHROP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EVA MCQUILLEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHAWN NELSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID NOTTKE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| STEVEN REINBOLT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BRADLEY J RIEGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW RUBIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBERT SCHOONMAKER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RASESH SHAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARTIN SUTTER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| THOMAS WAKEFIELD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBIN WHITNEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GREGORY POSTEL | EX-OFFICIO Trustee or director | 1 | $0 | $0 |
| JEFFREY WILLIAMS | EX-OFFICIO Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 34 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FLOYD AKINS | VICE-PRESIDENT FOR ADVANCEMENT Key employee | 40 | $257,116 | $72,154 |
| BRENDA S LEE | PRESIDENT Officer | 38 | $244,096 | $28,119 |
| WILLIAM PIERCE | ASSOCIATE VP OF ALUMNI ENG Highest-paid employee | 10 | $179,436 | $37,644 |
| BARB FISCHER | ASSOCIATE VP OF ADVANCEMENT SERVICES Highest-paid employee | 40 | $166,290 | $30,601 |
| JENNIFER SCHAEFER | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $138,164 | $34,385 |
| DONNA WELCH - VP OF FINANCE | AND CFO (THROUGH 10/10/22) Officer | 35 | $147,729 | $23,890 |
| JENNIFER BROOKET | ASST. VICE-PRESIDENT OF DEVELOPMENT Highest-paid employee | 40 | $120,243 | $13,986 |
| ROBIN HOPSON | ASSISTANT CONTROLLER Highest-paid employee | 35 | $119,416 | $12,194 |
| RANDY ROTHENBUHLER | CFO Officer | 35 | $106,292 | $17,263 |
| JOHN HUBER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN PAYDEN | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN PALMER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL BELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHERI BOKROS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES CALDWELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIFFANY CAVANAUGH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHRISTI CONTARDI STONE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MUI-LING Y DONG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DANA FITZSIMMONS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW FORTUNAK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES JAROS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEORGE LATHROP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| YVONNE MCNULTY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GERALD MILLER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| THE HONORABLE NANCY MILLER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHAWN NELSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW RUBIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| STEVEN REINBOLT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NADEEM SALEM | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBERT SCHOONMAKER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RASESH SHAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARTIN SUTTER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| THOMAS WAKEFIELD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBIN WHITNEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4510 DORR ST, TOLEDO, OH 43615-4040
- In care of
- % BRENDA S LEE
- Principal officer (990 for 2024)
- DEREK GROVES, 4510 DORR ST MS 820, TOLEDO, OH 43615
- Signed the 990
- DEREK GROVES, INTERIM PRESIDENT
- Phone
- (419) 530-7730
- Website
- WWW.UTFOUNDATION.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE MISSION OF THE UNIVERSITY OF TOLEDO FOUNDATION IS TO SECURE THE FUTURE FOR THE UNIVERSITY OF TOLEDO, THROUGH PRUDENT ASSET MANAGEMENT AND PHILANTHROPY. WE BUILD STRONG LINKAGES BETWEEN ALUMNI AND THE UNIVERSITY, FOSTERING A SPIRIT OF LOYALTY AND OPPORTUNITY FOR ENGAGEMENT.
Program accomplishments
- SUPPORT TO THE UNIVERSITY OF TOLEDO FOR ITEMS FOR EDUCATIONAL, ATHLETIC, AND CAPITAL IMPROVEMENT PURPOSES.Expenses $10,366,438 · grants $10,366,438 · revenue -$176,112
- SCHOLARSHIPS ARE PROVIDED FOR BOOKS, TUITION, AND HOUSING FOR STUDENTS ATTENDING THE UNIVERSITY OF TOLEDO.Expenses $6,292,900 · grants $6,292,900 · revenue $246,559
- SUPPORT OF THE UNIVERSITY OF TOLEDO IN THEIR RESEARCH ENDEAVORS.Expenses $579,172 · grants $579,172
- AT THE HEART OF EVERY SUCCESSFUL FOUNDATION IS A STRONG OPERATIONAL BACKBONEONE THAT ENSURES DONATED FUNDS ARE MANAGED RESPONSIBLY, PROGRAMS ARE EXECUTED EFFECTIVELY, AND THE FOUNDATION CAN STEWARD ITS MISSION FOR YEARS TO COME. THE ADMINISTRATION FEES PROGRAM EXISTS TO PROVIDE THIS ESSENTIAL INFRASTRUCTURE. THEY ARE A STRATEGIC COMPONENT OF OUR MISSION DELIVERY MODEL.Expenses $46,162 · revenue $4,622,824
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 34-6555110
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1964
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B110)
- Assets (IRS master file)
- $845,033,402
- Income (IRS master file)
- $158,015,531
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $40,509,886 | $29,530,063 | $845,033,402 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $35,443,468 | $29,230,416 | $784,710,766 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $29,920,252 | $28,195,347 | $719,025,431 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $29,398,271 | $25,808,043 | $672,998,290 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 34-6555110).
Questions about THE UNIVERSITY OF TOLEDO FOUNDATION
- What is the EIN of THE UNIVERSITY OF TOLEDO FOUNDATION?
- The employer identification number (EIN) of THE UNIVERSITY OF TOLEDO FOUNDATION is 34-6555110.
- Is THE UNIVERSITY OF TOLEDO FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1964.
- Are donations to THE UNIVERSITY OF TOLEDO FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE UNIVERSITY OF TOLEDO FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE UNIVERSITY OF TOLEDO FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE UNIVERSITY OF TOLEDO FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of THE UNIVERSITY OF TOLEDO FOUNDATION?
- The 990 for the year ended June 30, 2025 names DEREK GROVES.
- Who are the officers and directors of THE UNIVERSITY OF TOLEDO FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 35 people; 8 received compensation from the organization, the highest $273,648 (FLOYD AKINS, VP OF ADVANCEMENT (THROUGH 01/2025)).
- How much revenue does THE UNIVERSITY OF TOLEDO FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $40,509,886, expenses of $29,530,063 and total assets of $845,033,402 at year end.
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- HORIZON SCIENCE ACADAMEY TOLEDO EIN 20-0524037 · last filed 990 for 2025
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- OHIO COUNCIL OF COMMUNITY SCHOOLS EIN 03-0477422 · last filed 990 for 2025
- EMMANUEL CHRISTIAN SCHOOL EIN 37-1833365 · last filed 990 for 2025
- MADISON AVENUE SCHOOL OF ARTS EIN 36-4628343 · last filed 990 for 2025
- DISCOVERY ACADEMY EIN 46-2659970 · last filed 990 for 2025