Overview
What is Toledo Classic Inc?
Toledo Classic Inc, doing business as Marathon Classic, is a nonprofit organization situated in Toledo, Ohio. Their primary activity involves hosting the annual Marathon Classic golf tournament. The net revenues surpassing any undistributed tournament equity from this event are then allocated to various charitable organizations within the Toledo area, serving charitable purposes. The organization operates with a team of nine individuals, contributing to the betterment of the local community.
Official website here: www.marathonclassic.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
Toledo Classic Inc, doing business as Marathon Classic, has received a "Needs Improvement" rating from Charity Navigator, with an overall score of 69%. The organization demonstrates strong governance, as evidenced by 96% of its board members being independent and a large board size of 26 members. Additionally, the nonprofit has effectively managed its assets, showing no material diversion and maintaining a favorable liabilities to assets ratio.
However, significant weaknesses are apparent in the areas of accountability and transparency. The organization has not provided financial statements, and several key policies, including conflict of interest and whistleblower policies, are missing. Furthermore, it has failed to post its tax form on its website, which raises concerns about its commitment to transparency and public accountability.
Despite its high program expense ratio of 87.53%, indicating that a substantial portion of its expenditures is directed towards its mission, the lack of essential financial documentation and policies suggests that potential donors and stakeholders may want to approach with caution. Improvement in these areas could enhance the organization's credibility and overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Toledo Classic Inc legitimate?
Toledo Classic Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Toledo Classic Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $316,710
Professional Fundraising Fees: $0
Other Salaries and Wages: $311,302
For more financial information, click here
Official website here: www.marathonclassic.com
What is the mission statement of Toledo Classic Inc?
The Toledo Classic Inc, operating under the name Marathon Classic, is primarily known for conducting the Marathon Classic event. The primary objective of this event is to generate net proceeds, which are then distributed to various charitable organizations in the Toledo area. These charitable funds are intended for use towards charitable purposes. In the case of the 2022 Marathon Classic Ladies Professional Golf Association tournament, the net revenues in excess of undistributed tournament equity were distributed to several charitable organizations in the Toledo area. Essentially, the Toledo Classic Inc plays a significant role in channeling resources towards charitable causes within their local community.
Official website here: www.marathonclassic.com
Who is the CEO of Toledo Classic Inc?
Judd Silverman is the Director of Toledo Classic Inc.
Official website here: www.marathonclassic.com
What is the revenue of Toledo Classic Inc?
Toledo Classic Inc's revenue in 2022 was $5,711,148.
Official website here: www.marathonclassic.com
Who are the executives of Toledo Classic Inc and what are their salaries?
The average compensation at Toledo Classic Inc during 2022 was $69,779. There are 9 employees and 700 volunteers at Toledo Classic Inc.
Here are 27 key members and their salaries:
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Official website here: www.marathonclassic.com
Where can I find the form 990 for Toledo Classic Inc?
Toledo Classic Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.marathonclassic.com
Learn more at the official website: www.marathonclassic.com
Mission Statement of Toledo Classic Inc
Toledo Classic Inc Dba Marathon Classic is an organization with a mission to conduct the Marathon Classic. This event serves as a platform for raising funds, with the net proceeds being distributed to various children's charities in the Toledo area. These charitable funds are intended for use in supporting charitable purposes, thereby contributing to the betterment of the local community's children. In the recent 2022 Marathon Classic Ladies Professional Golf Association tournament, net revenues in excess of undistributed tournament equity were distributed to these charitable organizations, further underscoring Toledo Classic Inc Dba Marathon Classic's commitment to supporting children's charities in the Toledo area.
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Impact
October, 2024
Toledo Classic Inc significantly impacts the Toledo community through the Marathon Classic, a premier ladies professional golf tournament. The organization channels net proceeds from this event directly into local children’s charities, enhancing the resources available for various charitable initiatives aimed at improving the lives of youth in the area.
In 2022, the net revenues from the tournament helped fund numerous charitable organizations in Toledo, thereby expanding their ability to provide essential services and support to children and families in need. By promoting recreational activities and community engagement, Toledo Classic Inc not only elevates the profile of golf in the region but also fosters a spirit of philanthropy that addresses critical local issues. Through these efforts, the organization plays a vital role in strengthening community ties and supporting the development of future generations.
This information is meant to be a general summary of Toledo Classic Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $14,903
- Program Service Revenue: $5,696,245
- Gross Receipts: $5,711,148
Assets and Liabilities:
- Total Assets: $1,236,342
- Total Liabilities: $400,000
- Net Assets: $836,342
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOLF TOURNAMENT
Revenue
$5,696,245
Organization Details
Founding Year
1984
Phone
(419) 531-3277Principal Officer
Judd Silverman
Main Address
3400 EXECUTIVE PKWY STE 1A, TOLEDO, OH, 43606
Website
www.marathonclassic.comNTEE Category
Code: N70 - Recreation
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