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Marine Toys for Tots Foundation

CharityWatch report issued
December 2021

Top-Rated Charity
A-
CharityWatch Grade
Our independent grade based
on a number of factors.
 
79%
Program Percentage
Amount spent on programs
relative to overhead.
 
$13
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Marine Toys for Tots Foundation
18251 Quantico Gateway Dr.
Triangle, VA 22172

Other Names

Toys for Tots Foundation

Tax Status

501(c)3

Stated Mission

To collect new, unwrapped toys during Christmas time each year and distribute those toys as Christmas gifts to needy children in the community. To provide needy children with hope and motivation to grow into responsible, productive patriotic citizens and community leaders.

View similar charities
Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 79%

The percentage of Marine Toys for Tots Foundation's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$61,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $13

How many dollars Marine Toys for Tots Foundation spends on fundraising to raise each $100 of contributions.

$92,000,000

Calculated Total Contributions

(rounded)

Joint Costs

Marine Toys for Tots Foundation's rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.

Program % Cost to Raise $100
86% $8
Accounting rules allow charities to report some telemarketing, direct mail, and other solicitation costs as Program expenses. CharityWatch believes that most donors do not consider a charity's solicitation activities to be the Programs they are intending to support with their donations. We therefore adjust such expenses out of a charity's reported Program expense and add it to Fundraising expense prior to calculating its rating.

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Marine Toys for Tots Foundation Audited Financial Statements 20-3021444
Marine Toys for Tots Foundation IRS Form 990 20-3021444
Entity: Marine Toys for Tots Foundation
Document Type: Audited Financial Statements
Tax ID: 20-3021444
Entity: Marine Toys for Tots Foundation
Document Type: IRS Form 990
Tax ID: 20-3021444

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Marine Toys for Tots Foundation
meets governance benchmarks.
 
Marine Toys for Tots Foundation
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy Opt-Out Policy  

  Name Title Compensation
1 James B. Laster President/CEO $214,274
2 Theodore Silvester VP, Marketing & Development $200,673
3 Matthew D. Cooper VP, Operations $200,673
1
Name: James B. Laster
Title: President/CEO
Compensation: $214,274
2
Name: Theodore Silvester
Title: VP, Marketing & Development
Compensation: $200,673
3
Name: Matthew D. Cooper
Title: VP, Operations
Compensation: $200,673

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

According to the Marine Toys for Tots Foundation audited Statement of Activities for the year ended December 31, 2020, the Foundation received in-kind donated toys and donated services on which it placed a value of $201,122,076 and $7,615,807, respectively, for a total value of $208,737,883. 

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Marine Toys for Tots Foundation audit of December 31, 2020 (Note 7, Commitment and Contingency):

"The Foundation has entered into a contract for hotel rooms and a convention center relating to its September 2021 coordinator conference. In the event of cancellation, the Foundation is required to pay various costs as stipulated in the contract, the amounts of which are dependent upon the date of cancellation.

"Subsequent to the coronavirus (COVID-19) outbreak in 2020 in the United States, there has been substantial volatility in financial markets and the economy. COVID-19 and actions to mitigate it have had and are expected to continue to have an adverse impact on the economies and financial markets, including the geographical areas in which the Foundation operates. While it is unknown how long these conditions will last and what the complete financial effect will be to the Foundation, to date, the Foundation has not experienced any significant disruptions to its financial or operational activities during the year ended December 31, 2020. Management is continually monitoring the impact of COVID-19, and will adjust activities should there be a significant impact on its activities."

According to the Marine Toys for Tots Foundation audit of December 31, 2020 (Note 1 re: Financial risk):

"The Foundation invests in a professionally managed portfolio that contains various securities, which are exposed to risks such as interest rate, market and credit risk. Due to the level of risk associated with such investments, and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances and the amounts reported in the [audited] financial statements."

According to the Marine Toys for Tots Foundation 2020 tax filing, Toys for Tots reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7):

"The board of directors reviews and votes on the compensation of each of the officers and employees annually based on recommendations from the finance and compensation committee. The bonuses are based on performance and awarded at Christmas. The Pres/CEO bonus is decided by the same process, but is awarded in March."


Toys for Tots reports "Bonus & incentive compensation" payments to two individuals in 2020. The reported bonus amounts are each $32,000, paid to Theodore Silvester, Vice President, M&D, and Matthew D. Cooper, Secretary/Vice President, Operations. The reported total compensation in 2020 for each of them is $200,673 (IRS Form 990, Schedule J, Part II).


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