Marine Toys for Tots Foundation

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).