AKRON COMMUNITY FOUNDATION

We embrace and enhance the work of charitable people who make a permanent commitment to the good of the community.

Akron, OH | https://www.akroncf.org

GuideStar Charity Check

EIN: 34-1087615

Contributions tax deductible
as of March 2023

IRS BMF 509(a)(1)
as of March 13, 2023

View summary

Charity Check report

Mission

To improve the quality of life in the Greater Akron area by building permanent endowments and providing philanthropic leadership that enables donors to make lasting investments in the community.

Notes from the nonprofit

We're proud to bring our values of Passion, Excellence, Accountability, Quality of Life, and Collaboration to our work in serving the charitable people and organizations of Summit and Medina counties.

Ruling year info

1960

President and CEO

Mr. John T. Petures Jr.

Main address

345 West Cedar Street

Akron, OH 44307 USA

Show more contact info

EIN

34-1087615

Subject area info

Arts and culture

Education

Nonprofits

Community and economic development

Foundations

Population served info

Children and youth

Adults

NTEE code info

Community Foundations (T31)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Programs and results

Reports and documents

What we aim to solve

SOURCE: Self-reported by organization

We embrace and enhance the work of charitable people who make a permanent commitment to the good of the community. We do this by: -- Building a civic endowment, a permanent source of funding to benefit all of Summit County -- Helping fundholders plan, carry out and celebrate their charitable giving in Greater Akron, the region and across the country -- Partnering with fundholders and agencies, including nonprofits, funders, government groups and businesses, to gain and share knowledge that improves the community -- Encouraging philanthropy among Summit County residents of all means and backgrounds

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Grantmaking

Awards grants to nonprofit organizations that enrich the community in the areas of education, arts and culture, civic affairs, and health and human services.

Population(s) Served

Adults

Children and youth

Health

Social and economic status

Charitable Funds

Charitable funds at Akron Community Foundation allow donors to streamline and simplify their giving in one location, while preserving charitable dollars for their favorite causes now and long after they're gone.

Population(s) Served

Adults

Community Issues Evaluations

From conducting research through a community needs assessment to hearing directly from the people who live and work here every day through On the Table Greater Akron surveys, Akron Community Foundation is committed to discovering the issues that are most concerning to our community.

Population(s) Served

Adults

Where we work

External reviews

Videos

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollar amount of grants awarded

Totals By Year

Population(s) Served

Adults, Children and youth, Health, Social and economic status

Related Program

Grantmaking

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

These amounts are for fiscal years (i.e. April 1, 2020-March 31, 2021 is Fiscal Year 2021)

Number of charitable funds

Totals By Year

Population(s) Served

Adults, Children and youth

Related Program

Charitable Funds

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

As of March 31, the end of our fiscal year

Number of charitable assets

Totals By Year

Population(s) Served

Adults, Children and youth, Ethnic and racial groups, Social and economic status, Health

Related Program

Charitable Funds

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

This total asset number is by fiscal year (i.e. April 1, 2020-March 31, 2021 is Fiscal Year 2021)

Percentage of 10-year annualized net return

Totals By Year

Population(s) Served

Related Program

Charitable Funds

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

As of March 31, the end of our fiscal year

Goals & Strategy

SOURCE: Self-reported by organization

Reports and documents

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

What is the organization aiming to accomplish?

To improve the quality of life in Greater Akron by building permanent endowments and providing philanthropic leadership that enables our board and donors to make a lasting investment in the community.

What are the organization's key strategies for making this happen?

Akron Community Foundation improves the quality of life throughout Summit and Medina counties by:

- Building a civic endowment, a permanent source of funding to benefit all of Summit County
- Helping fundholders plan, carry out and celebrate their charitable giving in Greater Akron, the region and across the country
- Partnering with fundholders and agencies, including nonprofits, funders, government groups and businesses, to gain and share knowledge that improves the community
- Encouraging philanthropy among Summit County residents of all means and backgrounds

What are the organization's capabilities for doing this?

Akron Community Foundation has nearly 70 years of expertise in working with charitable individuals, families, nonprofit organizations, businesses and their professional advisors throughout Summit and Medina counties to create charitable endowments, such as donor-advised funds and agency endowment funds, that grant dollars to vital nonprofits throughout our region and beyond. Since our inception in 1955, we've distributed more than $200 million in grants back into the community. We are also a convener, connecting like-minded charitable people and organizations to tackle quality of life issues affecting our community

What have they accomplished so far and what's next?

Over the past decade, the community foundation has adopted a donor-centric fundraising model that has helped the organization more than double its assets and increase annual giving, which in turn has lead to annual grantmaking back into the community nearly doubling.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

We shared information about our current feedback practices.

Who are the people you serve with your mission?

Charitable people, companies, nonprofits and organizations who wish to make a lasting investment in the Summit and Medina county communities.
How is your organization using feedback from the people you serve?

To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
What significant change resulted from feedback?

In response to feedback from our fundholders, we began offering opportunities for like-minded fundholders to coinvest in impactful initiatives in our community. By pooling their charitable dollars, they can make a larger impact together than individually.
Which of the following feedback practices does your organization routinely carry out?

We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback
What challenges does the organization face when collecting feedback?

We don't have any major challenges to collecting feedback

Financials

AKRON COMMUNITY FOUNDATION

Fiscal year: Apr 01 - Mar 31

Financial documents

Yes, financials were audited by an independent accountant.

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021

SOURCE: IRS Form 990

6.61

Average of 9.67 over 10 years

Months of cash in 2021

SOURCE: IRS Form 990

4.5

Average of 7.3 over 10 years

Fringe rate in 2021

SOURCE: IRS Form 990

30%

Average of 27% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

Source: IRS Form 990

Digitizing IRS form 990 data

AKRON COMMUNITY FOUNDATION

Revenue & expenses

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990

Fiscal year ending: Download Data

Revenue
Contributions	$7,075,172
Government Grants	$0
Program Services	$0
Investments	$16,617,474
Special Events	($19,017)
Sales	$0
Other	$0
Total Revenue	$23,673,629

Expenses
Program Services	$8,564,811
Administration	$1,199,443
Fundraising	$739,836
Total Expenses	$10,504,090
Net Gain/Loss	$13,169,539

Functional expenses
Accounting Fees	$26,711
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$11,634
Interest Expenses	$10,362
Investment Management Fees	$692,273
Legal Fees	$12,861
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$5,001,487
Government Grants	$0
Program Services	$0
Investments	($11,076,280)
Special Events	($35,390)
Sales	$0
Other	$0
Total Revenue	($6,110,183)

Expenses
Program Services	$7,394,368
Administration	$1,078,160
Fundraising	$551,441
Total Expenses	$9,023,969
Net Gain/Loss	($15,134,152)

Functional expenses
Accounting Fees	$28,620
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$13,905
Interest Expenses	$17,444
Investment Management Fees	$613,177
Legal Fees	$6,515
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$9,921,568
Government Grants	$0
Program Services	$0
Investments	$3,100,770
Special Events	($34,236)
Sales	$0
Other	$0
Total Revenue	$12,988,102

Expenses
Program Services	$6,742,009
Administration	$1,045,221
Fundraising	$638,667
Total Expenses	$8,425,897
Net Gain/Loss	$4,562,205

Functional expenses
Accounting Fees	$26,805
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$20,843
Interest Expenses	$15,181
Investment Management Fees	$533,022
Legal Fees	$2,400
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$7,302,656
Government Grants	$0
Program Services	$0
Investments	$7,274,445
Special Events	($26,807)
Sales	$0
Other	$0
Total Revenue	$14,550,294

Expenses
Program Services	$8,152,592
Administration	$1,034,773
Fundraising	$579,092
Total Expenses	$9,766,457
Net Gain/Loss	$4,783,837

Functional expenses
Accounting Fees	$26,618
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$21,001
Interest Expenses	$14,138
Investment Management Fees	$544,192
Legal Fees	$349
Pension Plan Contributions	$208,862
Professional Fundraising Expenses	$0

Revenue
Contributions	$20,159,760
Government Grants	$0
Program Services	$0
Investments	$8,806,354
Special Events	($23,287)
Sales	$0
Other	$0
Total Revenue	$28,942,827

Expenses
Program Services	$8,207,875
Administration	$1,171,139
Fundraising	$641,048
Total Expenses	$10,020,062
Net Gain/Loss	$18,922,765

Functional expenses
Accounting Fees	$25,981
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$21,492
Interest Expenses	$13,031
Investment Management Fees	$641,610
Legal Fees	$3,456
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$13,520,915
Government Grants	$0
Program Services	$0
Investments	$6,639,158
Special Events	($27,807)
Sales	$0
Other	$0
Total Revenue	$20,132,266

Expenses
Program Services	$9,837,200
Administration	$1,404,750
Fundraising	$812,305
Total Expenses	$12,054,255
Net Gain/Loss	$8,078,011

Functional expenses
Accounting Fees	$28,260
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$18,535
Interest Expenses	$44,705
Investment Management Fees	$704,070
Legal Fees	$8,165
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$10,337,049
Government Grants	$0
Program Services	$0
Investments	$8,542,611
Special Events	($1,813)
Sales	$0
Other	$0
Total Revenue	$18,877,847

Expenses
Program Services	$10,436,855
Administration	$1,431,563
Fundraising	$779,514
Total Expenses	$12,647,932
Net Gain/Loss	$6,229,915

Functional expenses
Accounting Fees	$29,118
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$14,016
Interest Expenses	$10,608
Investment Management Fees	$704,361
Legal Fees	$15,744
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$14,998,620
Government Grants	$0
Program Services	$0
Investments	$8,322,278
Special Events	($51,150)
Sales	$0
Other	$0
Total Revenue	$23,269,748

Expenses
Program Services	$12,163,913
Administration	$1,503,408
Fundraising	$723,930
Total Expenses	$14,391,251
Net Gain/Loss	$8,878,497

Functional expenses
Accounting Fees	$27,479
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$14,402
Interest Expenses	$7,157
Investment Management Fees	$763,494
Legal Fees	$11,557
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$13,807,658
Government Grants	$0
Program Services	$0
Investments	$12,553,552
Special Events	($133,615)
Sales	$0
Other	$0
Total Revenue	$26,227,595

Expenses
Program Services	$13,899,287
Administration	$1,532,199
Fundraising	$836,673
Total Expenses	$16,268,159
Net Gain/Loss	$9,959,436

Functional expenses
Accounting Fees	$27,977
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$18,240
Interest Expenses	$13,888
Investment Management Fees	$769,127
Legal Fees	$8,481
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$10,763,025
Government Grants	$0
Program Services	$0
Investments	$7,237,125
Special Events	($163,346)
Sales	$0
Other	$0
Total Revenue	$17,836,804

Expenses
Program Services	$11,566,872
Administration	$1,944,936
Fundraising	$920,198
Total Expenses	$14,432,006
Net Gain/Loss	$3,404,798

Functional expenses
Accounting Fees	$34,551
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$18,865
Interest Expenses	$15,003
Investment Management Fees	$923,919
Legal Fees	$17,783
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$11,553,844
Government Grants	$0
Program Services	$0
Investments	$3,904,342
Special Events	($119,375)
Sales	$0
Other	$0
Total Revenue	$15,338,811

Expenses
Program Services	$12,318,498
Administration	$1,542,030
Fundraising	$1,315,214
Total Expenses	$15,175,742
Net Gain/Loss	$163,069

Functional expenses
Accounting Fees	$29,187
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$25,241
Interest Expenses	$33,257
Investment Management Fees	$777,023
Legal Fees	$7,627
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$22,353,578
Government Grants	$0
Program Services	$0
Investments	$16,980,567
Special Events	($56,819)
Sales	$0
Other	$0
Total Revenue	$39,277,326

Expenses
Program Services	$21,780,031
Administration	$1,608,522
Fundraising	$1,221,803
Total Expenses	$24,610,356
Net Gain/Loss	$14,666,970

Functional expenses
Accounting Fees	$31,298
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$42,667
Interest Expenses	$21,196
Investment Management Fees	$831,024
Legal Fees	$5,792
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

AKRON COMMUNITY FOUNDATION

Balance sheet

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Apr 01, 2008	Mar 31, 2009	Change
Contributions	$7,075,172
Cash & Equivalents	$7,416,370	$9,556,082	$2,139,712
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$82,528	$51,917	($30,611)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$118,796,903	$80,509,033	($38,287,870)
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$1,465,310	$1,436,471	($28,839)
Other	$10,849,294	$8,464,871	($2,384,423)
Total Assets	$138,610,405	$100,018,374	($38,592,031)

Liabilities	Apr 01, 2008	Mar 31, 2009	Change
Accounts Payable	$541,855	$522,890	($18,965)
Grants Payable	$561,209	$549,105	($12,104)
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$5,596,595	$4,960,701	($635,894)
Total Liabilities	$6,699,659	$6,032,696	($666,963)

Fund balance	Apr 01, 2008	Mar 31, 2009	Change
Temporarily Restricted Net Assets	$52,674,000	$26,627,000	($26,047,000)
Permanently Restricted Net Assets	$34,413,000	$37,494,000	$3,081,000
Total Restricted Net Assets	$87,087,000	$64,121,000	($22,966,000)
Unrestricted Net Assets	$44,823,746	$29,864,678	($14,959,068)
Net Assets	$131,910,746	$93,985,678	($37,925,068)

Assets	Apr 01, 2009	Mar 31, 2010	Change
Contributions	$5,001,487
Cash & Equivalents	$9,556,082	$5,448,147	($4,107,935)
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$51,917	$190,710	$138,793
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$80,509,033	$109,420,194	$28,911,161
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$1,436,471	$1,381,116	($55,355)
Other	$8,464,871	$9,769,101	$1,304,230
Total Assets	$100,018,374	$126,209,268	$26,190,894

Liabilities	Apr 01, 2009	Mar 31, 2010	Change
Accounts Payable	$522,890	$650,003	$127,113
Grants Payable	$549,105	$491,630	($57,475)
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$4,960,701	$4,856,417	($104,284)
Total Liabilities	$6,032,696	$5,998,050	($34,646)

Fund balance	Apr 01, 2009	Mar 31, 2010	Change
Temporarily Restricted Net Assets	$26,627,000	$44,994,000	$18,367,000
Permanently Restricted Net Assets	$37,494,000	$39,503,000	$2,009,000
Total Restricted Net Assets	$64,121,000	$84,497,000	$20,376,000
Unrestricted Net Assets	$29,864,678	$35,714,218	$5,849,540
Net Assets	$93,985,678	$120,211,218	$26,225,540

Assets	Apr 01, 2011	Mar 31, 2012	Change
Contributions	$9,921,568
Cash & Equivalents	$3,793,697	$4,771,080	$977,383
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$736,388	$899,753	$163,365
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$117,794,338	$122,508,638	$4,714,300
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$2,694,440	$2,029,939	($664,501)
Other	$10,387,515	$10,510,529	$123,014
Total Assets	$135,406,378	$140,719,939	$5,313,561

Liabilities	Apr 01, 2011	Mar 31, 2012	Change
Accounts Payable	$475,064	$498,555	$23,491
Grants Payable	$469,810	$870,282	$400,472
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$5,293,099	$5,438,835	$145,736
Total Liabilities	$6,237,973	$6,807,672	$569,699

Fund balance	Apr 01, 2011	Mar 31, 2012	Change
Temporarily Restricted Net Assets	$49,580,000	$56,490,000	$6,910,000
Permanently Restricted Net Assets	$39,712,000	$39,953,000	$241,000
Total Restricted Net Assets	$89,292,000	$96,443,000	$7,151,000
Unrestricted Net Assets	$39,876,405	$37,469,267	($2,407,138)
Net Assets	$129,168,405	$133,912,267	$4,743,862

Assets	Apr 01, 2012	Mar 31, 2013	Change
Contributions	$7,302,656
Cash & Equivalents	$4,771,080	$7,096,870	$2,325,790
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$899,753	$1,203,437	$303,684
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$122,508,638	$129,010,178	$6,501,540
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$2,029,939	$2,028,591	($1,348)
Other	$10,510,529	$10,890,605	$380,076
Total Assets	$140,719,939	$150,229,681	$9,509,742

Liabilities	Apr 01, 2012	Mar 31, 2013	Change
Accounts Payable	$498,555	$500,717	$2,162
Grants Payable	$870,282	$539,966	($330,316)
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$5,438,835	$6,337,028	$898,193
Total Liabilities	$6,807,672	$7,377,711	$570,039

Fund balance	Apr 01, 2012	Mar 31, 2013	Change
Temporarily Restricted Net Assets	$56,490,000	$61,911,000	$5,421,000
Permanently Restricted Net Assets	$39,953,000	$40,343,000	$390,000
Total Restricted Net Assets	$96,443,000	$102,254,000	$5,811,000
Unrestricted Net Assets	$37,469,267	$40,597,970	$3,128,703
Net Assets	$133,912,267	$142,851,970	$8,939,703

Assets	Apr 01, 2013	Mar 31, 2014	Change
Contributions	$20,159,760
Cash & Equivalents	$7,096,870	$7,736,739	$639,869
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$1,203,437	$861,051	($342,386)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$129,010,178	$159,706,553	$30,696,375
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$2,028,591	$1,317,273	($711,318)
Other	$10,890,605	$11,364,501	$473,896
Total Assets	$150,229,681	$180,986,117	$30,756,436

Liabilities	Apr 01, 2013	Mar 31, 2014	Change
Accounts Payable	$500,717	$499,165	($1,552)
Grants Payable	$539,966	$658,032	$118,066
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$6,337,028	$21,149,053	$14,812,025
Total Liabilities	$7,377,711	$22,306,250	$14,928,539

AKRON COMMUNITY FOUNDATION

Financial trends analysis Glossary & formula definitions

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990

This snapshot of AKRON COMMUNITY FOUNDATION’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Apr 01 - Mar 31 View full report Download data

Business model indicators

Profitability	2017	2018	2019	2020	2021
Unrestricted surplus (deficit) before depreciation	$47,137,701	$9,496,552	$10,864,889	-$10,798,454	$25,208,407
As % of expenses	329.4%	58.7%	75.7%	-71.6%	103.1%
Unrestricted surplus (deficit) after depreciation	$47,057,534	$9,417,163	$10,777,989	-$10,889,885	$25,043,093
As % of expenses	327.0%	57.9%	74.7%	-71.8%	101.8%

Revenue composition
Total revenue (unrestricted & restricted)	$23,269,748	$26,227,595	$17,836,804	$15,338,811	$39,277,326
Total revenue, % change over prior year	23.3%	12.7%	-32.0%	-14.0%	156.1%
Program services revenue	0.0%	0.0%	0.0%	0.0%	0.0%
Membership dues	0.0%	0.0%	0.0%	0.0%	0.0%
Investment income	14.9%	20.6%	37.9%	34.6%	20.3%
Government grants	0.0%	0.0%	0.0%	0.0%	0.0%
All other grants and contributions	64.2%	52.1%	59.4%	74.5%	56.8%
Other revenue	20.9%	27.2%	2.7%	-9.1%	23.0%

Expense composition
Total expenses before depreciation	$14,311,084	$16,188,770	$14,345,106	$15,084,311	$24,445,042
Total expenses, % change over prior year	13.9%	13.1%	-11.4%	5.2%	62.1%
Personnel	12.6%	11.8%	15.5%	15.2%	10.1%
Professional fees	5.6%	5.0%	6.8%	5.4%	3.6%
Occupancy	0.3%	0.3%	0.4%	0.4%	0.3%
Interest	0.1%	0.1%	0.1%	0.2%	0.1%
Pass-through	77.7%	79.3%	72.8%	73.9%	83.5%
All other expenses	3.7%	3.6%	4.3%	4.8%	2.5%

Full cost components (estimated)	2017	2018	2019	2020	2021
Total expenses (after depreciation)	$14,391,251	$16,268,159	$14,432,006	$15,175,742	$24,610,356
One month of savings	$1,192,590	$1,349,064	$1,195,426	$1,257,026	$2,037,087
Debt principal payment	$0	$0	$0	$0	$0
Fixed asset additions	$0	$0	$171,414	$1,625,462	$329,292
Total full costs (estimated)	$15,583,841	$17,617,223	$15,798,846	$18,058,230	$26,976,735

Capital structure indicators

Liquidity	2017	2018	2019	2020	2021
Months of cash	8.0	4.9	5.2	9.4	4.5
Months of cash and investments	157.2	151.5	172.6	147.2	110.1
Months of estimated liquid unrestricted net assets	74.9	73.2	91.6	77.2	59.9

Balance sheet composition	2017	2018	2019	2020	2021
Cash	$9,555,957	$6,628,120	$6,268,713	$11,838,763	$9,250,210
Investments	$177,931,031	$197,699,097	$200,111,135	$173,148,022	$215,015,661
Receivables	$1,110,907	$944,707	$789,684	$782,770	$597,485
Gross land, buildings, equipment (LBE)	$2,306,108	$2,329,796	$2,481,892	$3,982,016	$4,215,967
Accumulated depreciation (as a % of LBE)	16.2%	19.4%	21.0%	12.2%	13.2%
Liabilities (as a % of assets)	12.1%	11.9%	12.1%	12.0%	12.4%
Unrestricted net assets	$91,277,896	$100,695,059	$111,473,048	$100,583,163	$125,626,256
Temporarily restricted net assets	$45,130,000	$48,872,203	$0	N/A	N/A
Permanently restricted net assets	$40,865,000	$43,326,114	$82,489,258	N/A	N/A
Total restricted net assets	$85,995,000	$92,198,317	$82,489,258	$74,853,885	$114,536,500
Total net assets	$177,272,896	$192,893,376	$193,962,306	$175,437,048	$240,162,756

Key data checks

Key data checks	2017	2018	2019	2020	2021
Material data errors	No	No	No	No	No

Operations

The people, governance practices, and partners that make the organization tick.

Documents

Letter of Determination is not available for this organization

Form 1023/1024 is not available for this organization

President and CEO

Mr. John T. Petures Jr.

John, who has led the foundation since May 2008, has championed the transformation of Akron Community Foundation into a more donor-centric organization. John leads a 19-person team to build lasting relationships with donors, fundholders, board members and community leaders while promoting permanent philanthropy for the good of our community. For the past several years, John has been named to Cleveland Magazine’s Power 100 list of the most influential leaders in Northeast Ohio.

Number of employees

Source: IRS Form 990

AKRON COMMUNITY FOUNDATION

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

AKRON COMMUNITY FOUNDATION

Highest paid employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of highest paid employee data for this organization

AKRON COMMUNITY FOUNDATION

Board of directors
as of 02/15/2023

SOURCE: Self-reported by organization

Board of directors data

Download the most recent year of board of directors data for this organization

Board chair

Ms. Sylvia Trundle

Retired Police Captain

Marty Hauser

Retired Healthcare Executive

J. Bret Treier

Vorys, Sater, Seymour and Pease LLP

Jim Pickard

Pickard Commercial Group

Doug Kuczynski

Retired Healthcare Executive

Katie Smucker

Community Volunteer

Richard Fedorovich

Bober Markey Fedorovich

Theresa Carter

Synthomer Foundation

Tracy Carter

Summa Health

Carla Chapman

Akron Public Schools

Claudia Diaz-Singer

The J.M. Smucker Co.

Kimberly Haws Falasco

Baird Private Wealth Management

Bennett Gaines

FirstEnergy

Jody Konstand

JMK Media

Shefali Mahesh

Akron Children’s Hospital

Ernest Pouttu

Harwick Standard Distribution Corporation

Steven Schmidt

Retired Healthcare Executive

Ilene Shapiro

Summit County Executive

F. William Steere

Steere Enterprises Inc.

Rachel Talton

Synergy Marketing Strategy & Research Inc.

Keeven White

WhiteSpace Creative

Mike Zeleznik

Zeleznik & Associates

Angelina Milo

Meaden & Moore

Brian Moore

Roetzel & Andress

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 7/12/2022

Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity

White/Caucasian/European

Gender identity

Male, Not transgender (cisgender)

Sexual orientation

Heterosexual or straight

Disability status

Person without a disability

Race & ethnicity

Gender identity

Sexual orientation

Disability

Equity strategies

Last updated: 07/12/2022

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data

We ask team members to identify racial disparities in their programs and / or portfolios.
We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.

Policies and processes

We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
We have community representation at the board level, either on the board itself or through a community advisory board.
We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.

Contractors

Fiscal year ending

There are no fundraisers recorded for this organization.

AKRON COMMUNITY FOUNDATION

We embrace and enhance the work of charitable people who make a permanent commitment to the good of the community.

Mission

Is this your nonprofit?

Programs and results

Reports and documents

What we aim to solve

Our programs

Grantmaking

Charitable Funds

Community Issues Evaluations

Where we work

Our results

Evaluation documents

Total dollar amount of grants awarded

Totals By Year

Population(s) Served

Related Program

Type of Metric

Direction of Success

Context Notes

Number of charitable funds

Totals By Year

Population(s) Served

Related Program

Type of Metric

Direction of Success

Context Notes

Number of charitable assets

Totals By Year

Population(s) Served

Related Program

Type of Metric

Direction of Success

Context Notes

Percentage of 10-year annualized net return

Totals By Year

Population(s) Served

Related Program

Type of Metric

Direction of Success

Context Notes

Goals & Strategy

Reports and documents

Charting impact

What is the organization aiming to accomplish?

What are the organization's key strategies for making this happen?

What are the organization's capabilities for doing this?

What have they accomplished so far and what's next?

How we listen

Financials

Financial documents

Revenue vs. expenses: breakdown

Liquidity in 2021 info

6.61

Months of cash in 2021 info

4.5

Fringe rate in 2021 info

30%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

AKRON COMMUNITY FOUNDATION

AKRON COMMUNITY FOUNDATION

AKRON COMMUNITY FOUNDATION

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

President and CEO

Mr. John T. Petures Jr.

Number of employees

AKRON COMMUNITY FOUNDATION

Compensation data

AKRON COMMUNITY FOUNDATION

Compensation data

AKRON COMMUNITY FOUNDATION

Board of directors data

Liquidity in 2021

Months of cash in 2021

Fringe rate in 2021

Funding sources

Assets & liabilities