Maritime Academy Of Toledo Inc
Maritime Academy Of Toledo Inc. maintains consistent operations but faces growing liabilities.
EIN: 201778861 · Toledo, OH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.7M |
| Total Expenses | $4.3M |
| Program Spending | 80% |
| Net Assets | $-1,711,665 |
| Transparency Score | 70/100 |
Is Maritime Academy Of Toledo Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maritime Academy Of Toledo Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maritime Academy Of Toledo Inc
Maritime Academy Of Toledo Inc (EIN: 201778861) is a nonprofit organization based in Toledo, OH. The organization reported total revenue of $3.7M and total assets of $4.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maritime Academy Of Toledo Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maritime Academy Of Toledo Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.4M |
| Total Expenses | $4.3M |
| Surplus / Deficit | +$80K |
| Total Assets | $4.4M |
| Total Liabilities | $6.1M |
| Net Assets | $-1,711,665 |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 138.6% |
| Months of Reserves | 12.4 months |
Financial Health Grade: A
In 2023, Maritime Academy Of Toledo Inc reported a surplus of $80K with revenue exceeding expenses, holds 12.4 months of operating reserves (strong position), has a debt-to-asset ratio of 138.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maritime Academy Of Toledo Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.3% | +0.9% | +10.8% |
| 2022 | +7.7% | +21.1% | -2.8% |
| 2021 | +17.9% | -7.6% | +0.7% |
| 2020 | -3.7% | +15.3% | -2.8% |
| 2019 | +7.7% | +36.4% | +1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Maritime Academy Of Toledo Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Maritime Academy Of Toledo Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $80K, with revenue exceeding expenses.
- Debt-to-asset ratio: 138.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that either executive leadership is entirely volunteer-based or compensation is categorized differently within the financial statements, which could impact transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Maritime Academy Of Toledo Inc's IRS 990 filings:
- Liabilities consistently exceed assets, reaching $6,140,481 in 202306 against assets of $4,428,816, indicating a high debt burden.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to fully assess spending efficiency.
- Consistent 0% officer compensation reported, which could indicate a lack of transparency if executives are compensated through other means.
Strengths
The following positive indicators were identified for Maritime Academy Of Toledo Inc:
- Consistent revenue generation, with revenue reaching $4,356,919 in 202306.
- Long history of operations with 13 IRS 990 filings, demonstrating commitment to regulatory compliance.
- Expenses generally align with or are slightly below revenue, indicating a balanced operational budget in most periods (e.g., $4,277,014 expenses vs. $4,356,919 revenue in 202306).
Frequently Asked Questions about Maritime Academy Of Toledo Inc
Is Maritime Academy Of Toledo Inc a legitimate charity?
Maritime Academy Of Toledo Inc (EIN: 201778861) is a registered tax-exempt nonprofit based in Ohio. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.7M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Maritime Academy Of Toledo Inc spend its money?
Maritime Academy Of Toledo Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maritime Academy Of Toledo Inc tax-deductible?
Maritime Academy Of Toledo Inc is registered as a tax-exempt nonprofit (EIN: 201778861). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maritime Academy Of Toledo Inc's spending goes to programs?
Maritime Academy Of Toledo Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Maritime Academy Of Toledo Inc located?
Maritime Academy Of Toledo Inc is headquartered in Toledo, Ohio and files with the IRS under EIN 201778861.
How many years of IRS 990 filings does Maritime Academy Of Toledo Inc have?
Maritime Academy Of Toledo Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.7M in total revenue.
Is Maritime Academy Of Toledo Inc. financially stable given its liabilities?
While the organization has consistent revenue generation, its liabilities have grown significantly, reaching $6,140,481 in 202306, exceeding its assets of $4,428,816. This indicates a reliance on debt, which could pose long-term financial risks if not managed effectively.
What is the breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of program, administrative, and fundraising expenses. A more granular view of these categories would be necessary to fully assess spending efficiency.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings suggests either a volunteer leadership model or that executive compensation is not reported under this specific line item. Further investigation into the organization's compensation policies would be needed for clarity.
Filing History
IRS 990 filing history for Maritime Academy Of Toledo Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maritime Academy Of Toledo Inc's revenue has grown by 69.3%, moving from $2.6M to $4.4M. Total assets increased by 61.4% over the same period, from $2.7M to $4.4M. Total functional expenses rose by 82.9%, from $2.3M to $4.3M. In its most recent filing year (2023), Maritime Academy Of Toledo Inc reported a surplus of $80K, with revenue exceeding expenses. The organization holds $6.1M in liabilities against $4.4M in assets (debt-to-asset ratio: 138.6%), resulting in net assets of $-1,711,665.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.4M | $4.3M | $4.4M | $6.1M | — | View 990 |
| 2022 | $4.1M | $4.2M | $4.0M | $5.8M | — | View 990 |
| 2021 | $3.8M | $3.5M | $4.1M | $5.8M | — | View 990 |
| 2020 | $3.2M | $3.8M | $4.1M | $6.0M | — | View 990 |
| 2019 | $3.4M | $3.3M | $4.2M | $5.6M | — | View 990 |
| 2018 | $3.1M | $2.4M | $4.2M | $5.6M | — | View 990 |
| 2017 | $3.2M | $3.4M | $4.0M | $5.4M | — | View 990 |
| 2016 | $2.8M | $2.8M | $3.5M | $4.8M | — | View 990 |
| 2015 | $3.0M | $2.6M | $3.2M | $4.4M | — | View 990 |
| 2014 | $2.7M | $2.4M | $3.0M | $2.1M | — | View 990 |
| 2013 | $2.4M | $2.1M | $2.8M | $2.2M | — | View 990 |
| 2012 | $2.1M | $2.1M | $2.7M | $2.3M | — | View 990 |
| 2011 | $2.6M | $2.3M | $2.7M | $2.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.4M, expenses of $4.3M, and assets of $4.4M (revenue +6.3% year-over-year).
- 2022: Revenue of $4.1M, expenses of $4.2M, and assets of $4.0M (revenue +7.7% year-over-year).
- 2021: Revenue of $3.8M, expenses of $3.5M, and assets of $4.1M (revenue +17.9% year-over-year).
- 2020: Revenue of $3.2M, expenses of $3.8M, and assets of $4.1M (revenue -3.7% year-over-year).
- 2019: Revenue of $3.4M, expenses of $3.3M, and assets of $4.2M (revenue +7.7% year-over-year).
- 2018: Revenue of $3.1M, expenses of $2.4M, and assets of $4.2M (revenue -3.5% year-over-year).
- 2017: Revenue of $3.2M, expenses of $3.4M, and assets of $4.0M (revenue +16.5% year-over-year).
- 2016: Revenue of $2.8M, expenses of $2.8M, and assets of $3.5M (revenue -9.0% year-over-year).
- 2015: Revenue of $3.0M, expenses of $2.6M, and assets of $3.2M (revenue +14.6% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.4M, and assets of $3.0M (revenue +11.5% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.1M, and assets of $2.8M (revenue +15.9% year-over-year).
- 2012: Revenue of $2.1M, expenses of $2.1M, and assets of $2.7M (revenue -20.1% year-over-year).
- 2011: Revenue of $2.6M, expenses of $2.3M, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maritime Academy Of Toledo Inc:
Data Sources and Methodology
This transparency report for Maritime Academy Of Toledo Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.