Akron Childrens Hospital Foundation
- Assets
- $166.0m
- Revenue
- $44.5m
- Investments
- $5.9m
- Employees
- 37
- Location
- Akron, OH
- Founding
- 08/1971
- Data as of
- 12/2023
- EIN
- 23-7114013
Organization Overview
Akron Childrens Hospital Foundation is located in Akron, OH. The organization was established in 1971. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Akron Childrens Hospital Foundation employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akron Childrens Hospital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Akron Childrens Hospital Foundation generated $44.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $18.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Akron Childrens Hospital Foundation has awarded 20 individual grants totaling $122,082,766. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
AKRON CHILDREN'S HOSPITAL FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON. ITS PURPOSE IS TO SOLICIT GIFT FROM DONORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AKRON CHILDREN'S HOSPITAL FOUNDATION WORKS TO ENSURE THAT THE HOSPITAL (CHMCA) CAN CONTINUE TO UPHOLD ITS THREE PROMISES: 1) TO TREAT EVERY CHILD AS WE WOULD OUR OWN 2) TO TREAT OTHERS AS THEY WOULD LIKE TO BE TREATED 3) TURN NO CHILD AWAY. DURING 2023, $12,729,806 FOUNDATION FUNDS WERE USED BY CHMCA TO SUPPORT ITS MISSION. THESE FOUNDATION FUNDS SUPPORTED NUMEROUS PROGRAMS WITHIN THE HOSPITAL SUCH AS HEMATOLOGY/ONCOLOGY, BEHAVIORAL HEALTH, PALLIATIVE CARE, RESEARCH AND EDUCATION, THE REGIONAL BURN CENTER, SAFETY AND INJURY PREVENTION, CHILD ADVOCACY, NEONATAL, PEDIATRICS, TELE-HEALTH, AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Gessner President | OfficerTrustee | 1.5 | $0 |
Alicia Lamancusa Director - Asst Treasurer | OfficerTrustee | 2 | $0 |
Michele Brown Vice President Of Development | OfficerTrustee | 50 | $403,570 |
Bruce Cohen MD Director/chair Neurodevelopment | Trustee | 1 | $0 |
Shefali Mahesh MD Director/chair Of Pediatrics | Trustee | 1 | $0 |
Gordon Edwards Officer/treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $143,361 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,651,689 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,795,050 |
| Total Program Service Revenue | $0 |
| Investment income | $3,407,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,324,874 |
| Net Income from Fundraising Events | -$20,138 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,507,657 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,729,806 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $490,781 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,015,762 |
| Pension plan accruals and contributions | $178,713 |
| Other employee benefits | $324,465 |
| Payroll taxes | $236,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $214,145 |
| Fees for services: Other | $556,169 |
| Advertising and promotion | $2,065 |
| Office expenses | $85,656 |
| Information technology | $180,258 |
| Royalties | $0 |
| Occupancy | $104,313 |
| Travel | $162,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,721 |
| Insurance | $0 |
| All other expenses | $114,825 |
| Total functional expenses | $18,767,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $18,189,562 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,880 |
| Net Land, buildings, and equipment | $3,443,776 |
| Investments—publicly traded securities | $130,517,235 |
| Investments—other securities | $5,948,274 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,827,829 |
| Total assets | $165,955,556 |
| Accounts payable and accrued expenses | $47,376 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,051,420 |
| Total liabilities | $18,098,796 |
| Net assets without donor restrictions | $12,001,041 |
| Net assets with donor restrictions | $135,855,719 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $165,955,556 |
Grants Awarded
Over the last fiscal year, Akron Childrens Hospital Foundation has awarded $12,729,806 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON PURPOSE: PATIENT CARE NEEDS | $8,563,711 |
CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON PURPOSE: CAPITAL SUPPORT | $4,166,095 |