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Nonprofiteer
← TOLEDO AREA CHAMBER FOUNDATION

Form 990 for tax year 2023

Filed by TOLEDO AREA CHAMBER FOUNDATION.

Totals

Total revenue
$76,695
Total expenses
$86,947
Contributions and grants received
$75,000
Grants paid
$20,000
Program service revenue
$0
Investment income
$1,695
Other revenue
$0
Total assets, end of year
$237,890
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$237,890
Program services expenses (Part IX)
$86,907
Management and general expenses
$40
Fundraising expenses
$0
Program service expenses (Part III)
$86,907

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $75,000

  • 3 · Investment income

    total $1,695 · excluded $1,695

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 13 · Office expenses

    total $40 · management and general $40

  • 24a · Other expenses: TALENT ALIGNMENT STRATE

    total $66,907 · program services $66,907

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $248,142 · end of year $217,890

  • 15 · Other assets

    beginning of year $0 · end of year $20,000

  • 27 · Net assets without donor restrictions

    beginning of year $144,403 · end of year $126,038

  • 28 · Net assets with donor restrictions

    beginning of year $103,739 · end of year $111,852

Mission and programs · 2023

Mission

TO ACCELERATE ECONOMIC DEVELOPMENT WITHIN THE TOLEDO REGION

  • SUPPORTING ECONOMIC DEVELOPMENT IN THE TOLEDO AREA

    Expenses $86,907 · Grants $20,000

As filed on the 2023 return.

Listed in Part VII

  • Wendy Gramza

    TREASURER/SECRETARY

    Total calculated
    $243,763
    From this org
    $0
    From related orgs
    $210,968
    Other
    $32,795
    Hours/week
    1 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,968 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,671 related
    Nontaxable benefits
    $0 + $19,124 related
    Filer's total
    $0 + $243,763 related

  • Steve Smigelski

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Matt Yarder

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Bowe

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Randolph Burns

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lynette Reichle

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Alex Gerken

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I:
THE FILING ORGANIZATION RELIED ON A RELATED ORGANIZATION TO ESTABLISH COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND CEO. THE RELATED ORGANIZATION USED THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION: WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349318785

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