PLATINUM2024

AKRON COMMUNITY FOUNDATION

We are our community’s champion and generator of enduring philanthropy.

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

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GuideStar Charity Check

AKRON COMMUNITY FOUNDATION

EIN: 34-1087615


Mission

To identify, activate and support informed and passionate philanthropists who strive to improve the quality of life in our community.

Notes from the nonprofit

We're proud to bring our values of Passion, Excellence, Inclusion, 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)

What we aim to solve

SOURCE: Self-reported by organization

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

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
Economically disadvantaged people
Families

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

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

Where we work

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

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

SOURCE: Self-reported by organization

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

Charting impact

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

To identify, activate and support informed and passionate philanthropists who strive to improve the quality of life in our community.

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.

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

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

SOURCE: Self-reported by organization

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

done We shared information about our current feedback practices.
  • 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

  • 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

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

5.68

Average of 7.20 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

7.3

Average of 7.2 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

25%

Average of 28% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

AKRON COMMUNITY FOUNDATION

Revenue & expenses

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

AKRON COMMUNITY FOUNDATION

Balance sheet

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990 info

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: cloud_download Download Data

AKRON COMMUNITY FOUNDATION

Financial trends analysis Glossary & formula definitions

Fiscal Year: Apr 01 - Mar 31

SOURCE: IRS Form 990 info

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

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
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
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 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 employees

SOURCE: IRS Form 990

Compensation
Other
Related
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
Related
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 01/18/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

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

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 11/30/2023

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
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender 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.