THE MARITIME ACADEMY OF TOLEDO (EIN 201778861) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

ANTHONY SWARTZ

Phone

4192463075

Tax Period

2024-07-01 to 2025-06-30

THE MARITIME ACADEMY OF TOLEDO, founded in 2006, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

THE MISSION OF MARITIME ACADEMY OF TOLEDO, A TUITION FREE COMMUNITY SCHOOL, IS TO ENABLE EACH STUDENT TO PURSUE ACADEMIC EXCELLENCE AND DEVELOP POSITIVE CHARACTER TRAITS IN AN EDUCATIONAL ENVIRONMENT THAT SUPPORTS INDIVIDUAL HANDS ON, LIFE BASED LEARNING, AUTHENTIC ASSESSMENT, AND CHARACTER FORMATION, A SAFE HEALTHY LEARNING ENVIRONMENT THAT SUPPORTS THE MISSION AND IS COMMITTED TO DEVELOPING STRONG PARTNERSHIPS WITH FAMILIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,383,388

Program Service Revenue $69,509

Investment Income $0

Other Revenue $0

TOTAL REVENUE $3,452,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,437,600

Fundraising Expenses $0

Program Expenses $3,490,366

Other Expenses $1,052,766

TOTAL EXPENSES $3,490,366

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,452,897	$3,723,638	-0.1%
Expenses	$3,490,366	$4,231,298	-0.2%
Net Income	$-37,469	$-507,660	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,720

Total Directors

$12,185

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM DAVIS	DIRECTOR	2.00	Director	$2,415	$0	$2,415
TIMOTHY GOLIGOSKI	DIRECTOR	2.00	Director	$2,060	$0	$2,060
JAMES HARTUNG	VICE CHAIRMA	2.00	Officer Director	$1,925	$0	$1,925
PAUL HUBBARD	CHAIRMAN	2.00	Officer Director	$1,795	$0	$1,795
KATE FINESKE	DIRECTOR	2.00	Director	$1,495	$0	$1,495
JOY GOODNER	DIRECTOR	2.00	Director	$1,435	$0	$1,435
KEITH JORDAN	DIRECTOR	2.00	Director	$1,060	$0	$1,060
KATHY SIMPSON	SECRETARY	2.00	Officer	$0	$0	$0
ANTHONY SWARTZ	TREASURER	2.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$3,452,897	$3,490,366	$3,788,688	$-37,469
2024	$3,723,638	$4,231,298	$3,966,588	$-507,660
2023	$4,356,919	$4,277,014	$4,428,816	$79,905
2022	$4,097,597	$4,239,611	$3,996,225	$-142,014
2021	$3,804,917	$3,500,030	$4,113,016	$304,887
2020	$3,227,935	$3,788,608	$4,083,547	$-560,673
2019	$3,351,618	$3,286,936	$4,200,867	$64,682
2018	$3,113,225	$2,410,404	$4,159,854	$702,821

THE MARITIME ACADEMY OF TOLEDO