AKRON COMMUNITY FOUNDATION
We are our community’s champion and generator of enduring philanthropy.
Learn how to support this organization
AKRON COMMUNITY FOUNDATION
EIN: 34-1087615
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
We identify, activate and support informed and passionate philanthropists who strive to improve the quality of life in our community. We do this by building a permanent source of charitable funding; cultivating strategic relationships with diverse charitable individuals, professional advisors and community organizations; inspiring new donors by capturing and sharing compelling examples of the positive impact of philanthropy in our community; and educating and connecting donors to nonprofit organizations whose needs match the donor's interests.
Our programs
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.
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.
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.
Where we work
External reviews
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Total dollar amount of grants awarded
This metric is no longer tracked.Totals By Year
Population(s) Served
Children and youth, Health, Older adults, Families, Economically disadvantaged people
Related Program
Grantmaking
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
Charitable funds
This metric is no longer tracked.Totals By Year
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
Charitable assets
This metric is no longer tracked.Totals By Year
Related Program
Charitable Funds
Type of Metric
Input - describing resources we use
Direction of Success
Increasing
Context Notes
As of March 31, the end of our fiscal year
Percentage of 10-year annualized net return
This metric is no longer tracked.Totals By Year
Type of Metric
Other - describing something else
Direction of Success
Holding steady
Context Notes
As of March 31, the end of our fiscal year
Total dollars received in contributions
This metric is no longer tracked.Totals By Year
Type of Metric
Input - describing resources we use
Direction of Success
Increasing
Context Notes
As of March 31, the end of our fiscal year
Goals & Strategy
Reports and documents
Download strategic planLearn 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 identify, activate and support informed and passionate philanthropists who strive to improve the quality of life in our 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 permanent source of charitable funding.
- Cultivating strategic relationships with diverse charitable individuals, professional advisors and community organizations.
- Inspiring new donors by capturing and sharing compelling examples of the positive impact of philanthropy in our community.
- Educating and connecting donors to nonprofit organizations whose needs match the donor's interests.
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 approximately $230 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 triple its assets and double its annual grantmaking.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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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
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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
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What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
5.68
Months of cash in 2023 info
7.3
Fringe rate in 2023 info
25%
Funding sources info
Assets & liabilities info
Financial data
AKRON COMMUNITY FOUNDATION
Balance sheetFiscal Year: Apr 01 - Mar 31
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: Apr 01 - Mar 31
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.
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Business model indicators
Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | $10,864,889 | -$10,798,454 | $25,208,407 | $2,235,612 | -$25,650,733 |
As % of expenses | 75.7% | -71.6% | 103.1% | 12.9% | -142.5% |
Unrestricted surplus (deficit) after depreciation | $10,777,989 | -$10,889,885 | $25,043,093 | $2,080,067 | -$25,816,419 |
As % of expenses | 74.7% | -71.8% | 101.8% | 11.9% | -142.1% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $17,836,804 | $15,338,811 | $39,277,326 | $29,242,242 | $11,908,040 |
Total revenue, % change over prior year | -32.0% | -14.0% | 156.1% | -25.5% | -59.3% |
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 | 37.9% | 34.6% | 20.3% | 34.3% | 56.3% |
Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
All other grants and contributions | 59.4% | 74.5% | 56.8% | 67.4% | 74.3% |
Other revenue | 2.7% | -9.1% | 23.0% | -1.7% | -30.6% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $14,345,106 | $15,084,311 | $24,445,042 | $17,303,335 | $18,004,145 |
Total expenses, % change over prior year | -11.4% | 5.2% | 62.1% | -29.2% | 4.1% |
Personnel | 15.5% | 15.2% | 10.1% | 14.9% | 14.8% |
Professional fees | 6.8% | 5.4% | 3.6% | 4.9% | 4.3% |
Occupancy | 0.4% | 0.4% | 0.3% | 0.4% | 0.3% |
Interest | 0.1% | 0.2% | 0.1% | 0.0% | 0.0% |
Pass-through | 72.8% | 73.9% | 83.5% | 75.7% | 77.5% |
All other expenses | 4.3% | 4.8% | 2.5% | 4.1% | 3.2% |
Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Total expenses (after depreciation) | $14,432,006 | $15,175,742 | $24,610,356 | $17,458,880 | $18,169,831 |
One month of savings | $1,195,426 | $1,257,026 | $2,037,087 | $1,441,945 | $1,500,345 |
Debt principal payment | $0 | $0 | $0 | $0 | $0 |
Fixed asset additions | $171,414 | $1,625,462 | $329,292 | $282,193 | $0 |
Total full costs (estimated) | $15,798,846 | $18,058,230 | $26,976,735 | $19,183,018 | $19,670,176 |
Capital structure indicators
Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Months of cash | 5.2 | 9.4 | 4.5 | 7.4 | 7.3 |
Months of cash and investments | 172.6 | 147.2 | 110.1 | 158.6 | 148.4 |
Months of estimated liquid unrestricted net assets | 91.6 | 77.2 | 59.9 | 85.9 | 65.5 |
Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
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Cash | $6,268,713 | $11,838,763 | $9,250,210 | $10,702,081 | $10,931,818 |
Investments | $200,111,135 | $173,148,022 | $215,015,661 | $218,015,964 | $211,659,789 |
Receivables | $789,684 | $782,770 | $597,485 | $583,894 | $373,182 |
Gross land, buildings, equipment (LBE) | $2,481,892 | $3,982,016 | $4,215,967 | $4,498,160 | $4,539,682 |
Accumulated depreciation (as a % of LBE) | 21.0% | 12.2% | 13.2% | 15.8% | 18.9% |
Liabilities (as a % of assets) | 12.1% | 12.0% | 12.4% | 12.2% | 13.0% |
Unrestricted net assets | $111,473,048 | $100,583,163 | $125,626,256 | $127,706,323 | $101,889,904 |
Temporarily restricted net assets | $0 | N/A | N/A | N/A | N/A |
Permanently restricted net assets | $82,489,258 | N/A | N/A | N/A | N/A |
Total restricted net assets | $82,489,258 | $74,853,885 | $114,536,500 | $117,778,987 | $123,962,799 |
Total net assets | $193,962,306 | $175,437,048 | $240,162,756 | $245,485,310 | $225,852,703 |
Key data checks
Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
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 20-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 employeesSOURCE: IRS Form 990
Compensation data
AKRON COMMUNITY FOUNDATION
Highest paid employeesSOURCE: IRS Form 990
Compensation data
AKRON COMMUNITY FOUNDATION
Board of directorsas of 01/18/2024
Board of directors data
Mr. 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
Theresa Carter
Synthomer Foundation
Tracy Carter
Summa Health
Carla Chapman
Akron Public Schools
Kimberly Haws Falasco
Baird Private Wealth Management
Jody Konstand
JMK Media
Shefali Mahesh
Akron Children’s Hospital
Ernest Pouttu
Harwick Standard Distribution Corporation
Steven Schmidt
Retired Healthcare Executive
F. William Steere
Steere Enterprises Inc.
Rachel Talton
Synergy Marketing Strategy & Research Inc.
Keeven White
WhiteSpace Creative
Angelina Milo
Meaden & Moore
Brian Moore
Roetzel & Andress
Tracy Dowe
Fifth Third Bank
Laura Culp
Sikich
Mark Bachmann
Marcus Thomas
Sylvia Trundle
Retired police captain
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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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
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
Gender identity
Transgender Identity
Sexual orientation
Disability
Equity strategies
Last updated: 07/12/2022GuideStar 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
- 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.
- 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.