THE UNIVERSITY OF TOLEDO FOUNDATION

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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

1964

Legal Domicile

Principal Officer

BRENDA LEE

Phone

4195307730

Tax Period

2022-07-01 to 2023-06-30

THE UNIVERSITY OF TOLEDO FOUNDATION, founded in 1964, is a mid-sized nonprofit in the Education sector that reported $29.9M in total revenue in fiscal year 2022. Expenses of $28.2M left a modest 6% surplus.

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 Service Accomplishments

Program 1

Expenses: $11,957,651 Revenue: $0

SUPPORT TO THE UNIVERSITY OF TOLEDO FOR ITEMS FOR EDUCATIONAL, ATHLETIC, AND CAPITAL IMPROVEMENT PURPOSES.

Program 2

Expenses: $5,839,506 Revenue: $0

SCHOLARSHIPS ARE PROVIDED FOR BOOKS, TUITION, AND HOUSING FOR STUDENTS ATTENDING THE UNIVERSITY OF TOLEDO.

Program 3

Expenses: $510,473 Revenue: $3,755,827

SUPPORT OF THE UNIVERSITY OF TOLEDO IN THEIR CHARITABLE PURPOSE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $13,141,772

Program Service Revenue $3,630,421

Investment Income $12,799,589

Other Revenue $348,470

TOTAL REVENUE $29,920,252

Expense Breakdown

Grants Paid $18,106,836

Salaries & Benefits $7,409,852

Fundraising Expenses $5,482,665

Program Expenses $18,307,630

Other Expenses $2,572,959

TOTAL EXPENSES $28,195,347

Year-over-Year Comparison

	2022	2021	Change
Revenue	$29,920,252	$29,398,271	+0.0%
Expenses	$28,195,347	$25,808,043	+0.1%
Net Income	$1,724,905	$3,590,228	-0.5%

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

106

Volunteers

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

$567,389

Total Directors

Key Employees

$329,270

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN HUBER	CHAIR	1.00	Officer Director	$0	$0	$0
SUSAN PAYDEN	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
SUSAN PALMER	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL BELL	TRUSTEE	1.00	Director	$0	$0	$0
SHERI BOKROS	TRUSTEE	1.00	Director	$0	$0	$0
JAMES CALDWELL	TRUSTEE	1.00	Director	$0	$0	$0
TIFFANY CAVANAUGH	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTI CONTARDI STONE	TRUSTEE	1.00	Director	$0	$0	$0
MUI-LING Y DONG	TRUSTEE	1.00	Director	$0	$0	$0
DANA FITZSIMMONS	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW FORTUNAK	TRUSTEE	1.00	Director	$0	$0	$0
JAMES JAROS	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE LATHROP	TRUSTEE	1.00	Director	$0	$0	$0
YVONNE MCNULTY	TRUSTEE	1.00	Director	$0	$0	$0
GERALD MILLER	TRUSTEE	1.00	Director	$0	$0	$0
THE HONORABLE NANCY MILLER	TRUSTEE	1.00	Director	$0	$0	$0
SHAWN NELSON	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW RUBIN	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN REINBOLT	TRUSTEE	1.00	Director	$0	$0	$0
NADEEM SALEM	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT SCHOONMAKER	TRUSTEE	1.00	Director	$0	$0	$0
RASESH SHAH	TRUSTEE	1.00	Director	$0	$0	$0
MARTIN SUTTER	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS WAKEFIELD	TRUSTEE	1.00	Director	$0	$0	$0
ROBIN WHITNEY	TRUSTEE	1.00	Director	$0	$0	$0
BRENDA S LEE	PRESIDENT	38.00	Officer	$244,096	$28,119	$272,215
DONNA WELCH - VP OF FINANCE	AND CFO (THROUGH 10/10/22)	35.00	Officer	$147,729	$23,890	$171,619
RANDY ROTHENBUHLER	CFO	35.00	Officer	$106,292	$17,263	$123,555
FLOYD AKINS	VICE-PRESIDENT FOR ADVANCEMENT	40.00	Key Emp	$257,116	$72,154	$329,270
WILLIAM PIERCE	ASSOCIATE VP OF ALUMNI ENG	10.00	Highest	$179,436	$37,644	$217,080
BARB FISCHER	ASSOCIATE VP OF ADVANCEMENT SERVICES	40.00	Highest	$166,290	$30,601	$196,891
JENNIFER SCHAEFER	DIRECTOR OF DEVELOPMENT	40.00	Highest	$138,164	$34,385	$172,549
JENNIFER BROOKET	ASST. VICE-PRESIDENT OF DEVELOPMENT	40.00	Highest	$120,243	$13,986	$134,229
ROBIN HOPSON	ASSISTANT CONTROLLER	35.00	Highest	$119,416	$12,194	$131,610

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$29,920,252	$28,195,347	$719,025,431	$1,724,905
2022	$29,398,271	$25,808,043	$672,998,290	$3,590,228
2021	$41,543,760	$21,399,976	$690,162,176	$20,143,784
2020	$37,806,830	$22,804,329	$551,844,230	$15,002,501
2019	$31,636,221	$23,761,725	$570,785,063	$7,874,496
2018	$60,986,434	$21,831,112	$570,059,184	$39,155,322