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Nonprofiteer
← TOLEDO CLASSIC INC

Form 990 for tax year 2024

Filed by TOLEDO CLASSIC INC.

Totals

Total revenue
$3,375,076
Total expenses
$3,495,085
Contributions and grants received
$0
Grants paid
$337,000
Program service revenue
$3,243,769
Investment income
$131,307
Other revenue
$0
Total assets, end of year
$739,162
Total liabilities, end of year
$337,010
Net assets or fund balances, end of year
$402,152
Program services expenses (Part IX)
$2,887,070
Management and general expenses
$608,015
Fundraising expenses
$0
Program service expenses (Part III)
$2,887,070

Program services were 82.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: GOLF TOURNAMENT

    total $3,243,769 · related or exempt $3,243,769

  • 3 · Investment income

    total $14,309 · excluded $14,309

  • 7a · Gross sales of assets other than inventory

    securities $804,225

  • 7b · Less cost or other basis and sales expenses

    securities $687,227

  • 7c · Gain or loss

    securities $116,998

  • 7d · Net gain or loss

    total $116,998 · excluded $116,998

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $337,000 · program services $337,000

  • 5 · Compensation of officers, directors and key employees

    total $294,113 · management and general $294,113

  • 7 · Other salaries and wages

    total $265,074 · program services $172,298 · management and general $92,776

  • 8 · Pension plan contributions

    total $8,147 · management and general $8,147

  • 9 · Other employee benefits

    total $34,965 · management and general $34,965

  • 10 · Payroll taxes

    total $33,898 · program services $10,445 · management and general $23,453

  • 11a · Fees: management

    total $5,020 · management and general $5,020

  • 11f · Fees: investment management

    total $4,660 · program services $4,660

  • 12 · Advertising and promotion

    total $258,179 · program services $258,179

  • 13 · Office expenses

    total $209,080 · program services $177,718 · management and general $31,362

  • 14 · Information technology

    total $31,688 · management and general $31,688

  • 16 · Occupancy

    total $49,618 · management and general $49,618

  • 17 · Travel

    total $99,630 · program services $99,630

  • 23 · Insurance

    total $22,437 · program services $22,437

  • 24a · Other expenses: CASH & NONCASH PRIZES

    total $533,275 · program services $533,275

  • 24b · Other expenses: FOOD & BEVERAGES

    total $395,777 · program services $395,777

  • 24c · Other expenses: LPGA EVENT FEES

    total $338,952 · program services $338,952

  • 24d · Other expenses: ENTERTAINMENT

    total $229,418 · program services $217,947 · management and general $11,471

  • 24e · All other expenses

    total $344,154 · program services $318,752 · management and general $25,402

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $228,798 · end of year $114,242

  • 4 · Accounts receivable

    beginning of year $26,700 · end of year $21,700

  • 10a · Land, buildings and equipment: cost or other basis

    $26,842

  • 10b · Land, buildings and equipment: accumulated depreciation

    $26,842

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $601,153 · end of year $602,700

  • 15 · Other assets

    beginning of year $520 · end of year $520

  • 18 · Grants payable

    beginning of year $335,000 · end of year $337,000

  • 25 · Other liabilities

    beginning of year $10 · end of year $10

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $522,161 · end of year $402,152

Mission and programs · 2024

Mission

TOLEDO CLASSIC, INC. CONDUCTS THE GREATER TOLEDO CLASSIC AS PART OF THE EPSON TOUR. THE NET PROCEEDS OF THIS EVENT ARE DISTRIBUTED TO TOLEDO AREA CHILDREN'S CHARITIES TO BE USED FOR CHARITABLE PURPOSES.

Activities or mission (Part I)

TOLEDO CLASSIC, INC. CONDUCTS THE GREATER TOLEDO CLASSIC. THE NET PROCEEDS OF THIS EVENT ARE DISTRIBUTED TO TOLEDO AREA CHILDREN'S CHARITIES TO BE USED FOR CHARITABLE PURPOSES.

  • NET REVENUES IN EXCESS OF UNDISTRIBUTED TOURNAMENT EQUITY FROM THE 2025 GREATER TOLEDO CLASSIC GOLF TOURNAMENT, AS PART OF THE EPSON TOUR, WERE DISTRIBUTED TO VARIOUS CHARITABLE ORGANIZATIONS IN THE TOLEDO AREA.

    Expenses $2,887,070 · Grants $337,000 · Revenue $3,243,769

As filed on the 2024 return.

Listed in Part VII

  • Judd Silverman

    PRESIDENT

    Total calculated
    $315,990
    From this org
    $291,615
    From related orgs
    $0
    Other
    $24,375
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,615
    Bonus
    $40,000
    Other
    $0
    Deferred
    $11,280
    Nontaxable benefits
    $13,095
    Filer's total
    $315,990

  • Marc Stockwell

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Steve Poturalski

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sydney Williams

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Gary Geiger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Knierim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Kornowa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Don Rettig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alex Gerken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Denman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrea Gurcsik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aaron Bly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Hirsch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nadia Elwardany

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Angela Mingo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rick Mlcek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rod Filcek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tommy Sullinger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jordan Kosik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Holly Bowman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrea Gwyn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Loss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dirk Vanheyst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
EMPLOYEE SHALL RECEIVE A BONUS THAT IS BASED UPON EMPLOYEE'S SERVICE AND PERFORMANCE DURING ANY GIVEN YEAR. THE DETERMINATION OF THE BONUS AWARD SHALL BE MADE AS SOON AS PRACTICABLE AFTER THE FINAL TOURNAMENT ACCOUNTING.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
12 August 2026
IRS schema version
2024v5.5
Source object
202612259349300431

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