Toledo Tomorrow FY2022 filing

Tax-deductible

Toledo, OH501(c)(3)EducationEIN 85-4036611

Guide & support students in choosing post-secondary educational opportunities.

501(c)(3) charity; gifts are tax-deductible.
3¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $174K a year · 23% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
3%
of spending
Concern: 3% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 19.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $35K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$544K
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$358K
+190% vs prior year
Spent
$337K
To programs
3%
Net assets
$21K
By yearFY2021–FY2024
Revenue
$358K
FY2022▲ +190%
Revenue by fiscal year
FY2021$124K
FY2022$358K
FY2023$802K
FY2024$1.1M
Expenses
$337K
FY2022
Expenses by fiscal year
FY2021Not on file
FY2022$337K
FY2023$574K
FY2024$854K
Net assets
$21K
FY2022▲ ×22
Net assets by fiscal year
FY2021$962
FY2022$21K
FY2023$250K
FY2024$523K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

3 cents of each dollar spent went to programs.

Program services 3% · $9K Management & general 97% · $328K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Robert J Savage’s $65K as President is at the 12th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps students explore and choose their best post-high school education paths.

Provided by the organization

This section is blank until Toledo Tomorrow claims this page.

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2 program services account for $9K of program spending, described in the organization's own filed words · FY2022.
01

College access work with 9,000 high school students, doing college visits, college nights, helping with applications, scholarship applications, and fafsa completion. Applications to local colleges are up 15% and admittance is up 35%.

$7Kprogram expense
02

Work to increase college degrees or post-secondary certifications by helping make college more affordable by completing the fafsa for need based aid. We work with 2,300 seniors across five mainly high poverty, urban districts. About 38% of the seniors have completed fafsa by the end of the fafsa cycle in 2022.

$2Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$35K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$358K
Ln 12
Gifts and grantsLn 1h$358K
Money outPt IX
$337K
Ln 25
Programscol B$9K
Managementcol C$328K
Owns and owesPt X
$21K
net assets · Ln 32
Cash and savingsLn 1–2$547K
Total assetsLn 16$565K
LiabilitiesLn 26$544K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$358K
Government grantsLn 1e$358K
Total revenueLn 12$358K
Assets in detailPt X, end of year
CashLn 1$547K
Cash and savings togetherLn 1–2$547K
Total assetsLn 16$565K
LiabilitiesLn 26$544K
Net assetsLn 32$21K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$872$547K
Total assetsLn 16$14K$565K
LiabilitiesLn 26$13K$544K
Net assetsLn 32$962$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$306K$306K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$18K$18K
OccupancyLn 16$7K$7K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$337K$9K$328K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$854K$273K$523K 990 PDF
FY2023 $802K$574K$228K$250K 990 PDF
FY2022 Viewing $358K$337K$21K$21K 990 PDF
FY2021 $124K$962 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $358,490 across 3 lines filed
VIII-1e Government grants$358,490
VIII-1h Total contributions, gifts and grants$358,490
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$358,490
Part IX · Statement of functional expenses $337,484 across 6 lines filed
IX-7 Other salaries and wagesManagement $306,030$306,030
IX-11g Other fees for servicesManagement $2,010$2,010
IX-13 Office expensesManagement $17,703$17,703
IX-16 OccupancyPrograms $6,600$6,600
IX-23 InsuranceManagement $2,511$2,511
IX-24 Other expenses (24a–d)Programs $2,630$2,630
IX-25 Total functional expensesPrograms $9,230 · Management $328,254 · Fundraising $0$337,484
Part X · Balance sheet $565,203 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $872$546,721
X-4 Accounts receivableStart of year $12,947$18,482
X-16 Total assetsStart of year $13,819$565,203
X-17 Accounts payable and accrued expensesStart of year $12,857$57,345
X-19 Deferred revenueStart of year $0$486,538
X-26 Total liabilitiesStart of year $12,857$543,883
X-32 Total net assets or fund balancesStart of year $962$21,320
X-33 Total liabilities and net assetsStart of year $13,819$565,203
Part XI · Reconciliation of net assets $21,320 net assets at year end
XI-1 Total revenue$358,490
XI-2 Total expenses$337,484
XI-3 Revenue less expenses$21,006
XI-4 Net assets at start of year$962
XI-8 Prior period adjustments−$648
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$21,320

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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