Downtown Toledo Development Corporation

Analysis

Downtown Toledo Development Corporation is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in May 2005, 21 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Downtown Toledo Development Corporation reported income of $1.5m and spending of $1.3m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.5m (+3.5%), an average of +0.9% a year. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Downtown Toledo Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Hilton Head Island Concours D Elegance Inc ($1.5m), Go Workshop ($1.5m) and The Vincent Price Art Museum Foundation ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $130k (10% of expenses). Other salaries and wages came to $131k. At year end it held assets of $2.4m against liabilities of $977k, net assets of $1.4m. It reported 2 employees.