The University of Toledo Foundation
The mission of the University of Toledo Foundation is to secure the future for the university of toledo, through prudent asset management and philanthropy. We build strong linkages between alumni and the university, fostering a spirit of loyalty and opportunity for engagement.
The University of Toledo Foundation at a glance
In short: The University of Toledo Foundation gave $17.2M across 4 grants in 2025 (avg $4.3M), mostly in Ohio. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $17,238,510
- -3.6% vs 2024
- Grants made (2025)
- 4
- +100.0% vs 2024
- Average grant
- $4,309,628
- -51.8% vs 2024
- Median grant
- $82,709
- Total assets
- $845,033,402
- +7.7% vs 2024
- Primary geography
- Ohio (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who The University of Toledo Foundation funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was University of Toledo ($17.0M). Together the top 4 received $17.2M.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was $5M or more: 5 grants of 10 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
States
Cities
How The University of Toledo Foundation gives
- Giving grew 44% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $9.9M (2020) to $18.1M (2023). In 2025 it made 4 grants totaling $17.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Toledo Toledo, OH | To support the university of toledo in its exempt purpose | $16,997,088 |
| University of Toledo Alumni Association Toledo, OH | To support the alumni association in its exempt purpose | $85,000 |
| University of Toledo Physicians Clinical Faculty Inc Toledo, OH | To support the physicians clinical faculty in its exempt purpose | $80,417 |
| The University of Toledo Medical Center Toledo, OH | To support the medical center in its exempt purpose | $76,005 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $845,033,402 | $40,509,886 | $29,530,063 | $17,238,510 | 4 | $21,126,217 |
| 2024 | $784,710,766 | $35,443,468 | $29,230,416 | $17,880,996 | 2 | $12,415,015 |
| 2023 | $719,025,431 | $29,920,252 | $28,195,347 | $18,106,836 | 1 | $12,799,589 |
| 2022 | $672,998,290 | $29,398,271 | $25,808,043 | $12,010,297 | 1 | $10,968,985 |
| 2021 | $690,162,176 | $41,543,760 | $21,399,976 | $13,004,304 | 2 | $18,959,488 |
| 2020 | $551,844,230 | $37,806,830 | $22,804,329 | $9,906,024 | 1 | $20,113,976 |
| 2019 | $570,785,063 | $31,636,221 | $23,761,725 | $11,084,438 | 1 | $11,186,299 |
About The University of Toledo Foundation
Based on IRS filings
The University of Toledo Foundation is a public charity focused on Education, based in Toledo, OH. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $845.0M in total assets. In 2025, it awarded 4 grants totaling $17.2M. Net investment income was $21.1M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
The University of Toledo Foundation is led by Brenda S. Lee, President on every filing since 2019; 8 of 35 officers listed in 2025 are compensated.
Officers on the 2025 filing
Brenda S. Lee
President
On filings since 2019
38 hrs/week
$225K (2019) → $284K (2025)
Susan Payden
Chair
Trustee → Vice Chair, 2022
Vice Chair → Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
Jennifer Schaefer
Director of Development
On filings since 2021
40 hrs/week
$101K (2021) → $150K (2025)
Mui-Ling Y. Dong
Trustee
On filings since 2019
1 hr/week
No compensation reported
Steven Reinbolt
Trustee
On filings since 2019
1 hr/week
No compensation reported
Thomas Wakefield
Trustee
On filings since 2019
1 hr/week
No compensation reported
James Caldwell
Trustee
On filings since 2020
1 hr/week
No compensation reported
Robin Whitney
Trustee
Ex-Officio Alumni President → Trustee, 2021
On filings since 2020
1 hr/week
No compensation reported
Sheri Bokros
Trustee
On filings since 2020
1 hr/week
No compensation reported
Martin Sutter
Trustee
On filings since 2021
1 hr/week
No compensation reported
Rasesh Shah
Trustee
On filings since 2021
1 hr/week
No compensation reported
Robert Schoonmaker
Trustee
On filings since 2021
1 hr/week
No compensation reported
James Jaros
Trustee
On filings since 2022
1 hr/week
No compensation reported
Shawn Nelson
Trustee
On filings since 2022
1 hr/week
No compensation reported
Tiffany Cavanaugh
Trustee
On filings since 2022
1 hr/week
No compensation reported
George Lathrop
Trustee
On filings since 2023
1 hr/week
No compensation reported
Matthew Rubin
Trustee
On filings since 2023
1 hr/week
No compensation reported
Bradley J. Rieger
Trustee
On filings since 2024
1 hr/week
No compensation reported
David Nottke
Trustee
On filings since 2024
1 hr/week
No compensation reported
Eva McQuillen
Trustee
On filings since 2024
1 hr/week
No compensation reported
Jean Lovejoy
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Jeffrey Cole
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Myron Duhart
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Robert Bleile
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
William Pierce
Associate Vice President of Alumni Eng
Associate Vice President of Alumni Engagement → Associate Vice President of Alumni Eng, 2021
On filings since 2020
10 hrs/week
$122K (2020) → $204K (2025)
Maren Kurtz
Associate Vice President of Hr & Advisor
Director of Human Resources → Associate Vice President of Hr & Adv. Operations, 2024
Associate Vice President of Hr & Adv. Operations → Associate Vice President of Hr & Advisor, 2025
On filings since 2021
40 hrs/week
$106K (2021) → $161K (2025)
Barb Fischer
Associate Vice President of Advancemen
Associate Vice President of Advancement Services → Associate Vice President of Advancemen, 2025
On filings since 2023
40 hrs/week
$166K (2023) → $185K (2025)
Floyd Akins
Vice President of Advancement
Vice President for Advancement → Vice President of Advancement, 2025
On filings since 2023
40 hrs/week
$257K (2023) → $274K (2025)
Randy Rothenbuhler
CFO
On filings since 2023
35 hrs/week
$106K (2023) → $185K (2025)
David Zelenka
Associate Vice President of Health Finance
On filings since 2024
40 hrs/week
$150K (2024) → $190K (2025)
Nadeem Salem
Secretary
Trustee → Secretary, 2024
On filings since 2020
1 hr/week
No compensation reported
Nancy Miller
Vice Chair
Ex-Officio Chief Magistrate → Vice Chair, 2024
On filings since 2021
1 hr/week
No compensation reported
Yvonne McNulty
Treasurer
Trustee → Treasurer, 2024
On filings since 2022
1 hr/week
No compensation reported
Andrew Swinerton
Ex-Officio
New on the 2025 filing
1 hr/week
No compensation reported
Matthew Schroeder
Ex-Officio
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (38)
- Former: Dana Fitzsimmons (2019–2024) — Trustee
- Former: John Huber (2019–2024) — Trustee
- Former: Michael Bell (2019–2024) — Trustee
- Former: Gregory Postel (2021–2024) — Ex-Officio
- Former: Matthew Fortunak (2022–2024) — Trustee
- Former: Jeffrey Williams (2024) — Ex-Officio
- Former: Christi Contardi Stone (2019–2023) — Trustee
- Former: Gerald Miller (2019–2023) — Trustee
- Former: Susan Farrell Palmer (2019–2023) — Secretary
- Former: Donna Welch - Vp Of Finance (2023) — CFO
- Former: Jennifer Brooket (2023) — Assistant Vice President of Development
- Former: Robin Hopson (2023) — Assistant Controller
- Former: The Honorable Nancy Miller (2023) — Trustee
- Former: Barbara Tartagalia-Poure (2019–2022) — Executive Director of Development
- Former: Cheryl Zwyer (2019–2022) — Senior Associate Vice President of Development
- Former: Donna Welch (2019–2022) — Vice President of Finance & CFO
- Former: Mark Luetke (2019–2022) — Trustee
- Former: Paul Toth Jr. (2019–2022) — Trustee
- Former: Terrence Perris (2019–2022) — Trustee
- Former: Ethan Kirk Ross (2021–2022) — Vice President for Advancement
- Former: David Dmytryka (2022) — Ex-Officio President
- Former: Jim Beckman (2022) — Treasurer
- Former: Gary Leidich (2019–2021) — Trustee
- Former: James Beckman (2019–2021) — Trustee
- Former: Jennifer Scroggs (2019–2021) — Treasurer
- Former: Jonathan Lyons (2019–2021) — Trustee
- Former: Lavelle Edmondson (2019–2021) — Trustee
- Former: Russell Mitchell (2019–2021) — Trustee
- Former: Barbara Fischer (2021) — Associate Vice President of Adv. Services
- Former: Keith Maly (2021) — Director of Information Systems
- Former: Brett Loney (2019–2020) — Associate Vice President of Development
- Former: Constance Zouhary (2019–2020) — Trustee
- Former: James Appold (2019–2020) — Trustee
- Former: Neema Bell (2019–2020) — Trustee
- Former: Kirk Ross (2020) — Director of Planned Giving
- Former: Alan Barry (2019) — Trustee
- Former: Kevin Lent (2019) — Trustee
- Former: Rob Bleile (2019) — Ex-Officio Alumni President Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $284K, to Brenda S Lee (President). 8 officers or directors reported compensation on that filing.
Frequently asked questions about The University of Toledo Foundation
How much does The University of Toledo Foundation give each year?
The University of Toledo Foundation gave $17.2M across 4 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $17.9M across 2 grants.
What is The University of Toledo Foundation's typical grant size?
The University of Toledo Foundation's median grant in 2025 was $82,709, and its average grant was $4,309,628, across 4 grants on its 2025 IRS Form 990.
Where does The University of Toledo Foundation give grants?
The University of Toledo Foundation gives mostly in Ohio: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Toledo, OH (4 grants).
Does The University of Toledo Foundation give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on The University of Toledo Foundation's 2025 IRS Form 990 were described as general or operating support.
How large is The University of Toledo Foundation?
The University of Toledo Foundation reported $845.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $40.5M.
What is The University of Toledo Foundation?
The University of Toledo Foundation is a public charity focused on Education, based in Toledo, OH. It holds $845.0M in total assets as of 2025.
What is The University of Toledo Foundation's EIN?
The University of Toledo Foundation's EIN (Employer Identification Number) is 34-6555110. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS July 8, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 5, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 2, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 7, 2026)
- IRS filings on file for fiscal years 2019–2024
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