Akron Childrens Hospital Foundation
- Assets
- $226.4m
- Revenue
- $32.7m
- Investments
- $0.0
- Employees
- 32
- Location
- Akron, OH
- Founding
- 08/1971
- Data as of
- 12/2021
- 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 12/2021, Akron Childrens Hospital Foundation employed 32 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 12/2021, Akron Childrens Hospital Foundation generated $32.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $16.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Akron Childrens Hospital Foundation has awarded 16 individual grants totaling $94,984,052. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
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:
THE AKRON CHILDREN'S HOSPITAL FOUNDATION WORKS TO ENSURE THAT THE HOSPITAL (CHMCA) CAN CONTINUE TO UPHOLD ITS THREE PROMISES: 1) TREAT EACH OTHER THE WAY WE WOULD WANT TO BE TREATED 2) TREAT EACH CHILD AS IF IT WERE OUR OWN 3) TURN NO CHILD AWAY FOR ANY REASON. DURING 2021, $11,307,050 FOUNDATION FUNDS WERE USED BY CHMCA TO SUPPORT ITS MISSION. THESE FOUNDATION FUNDS SUPPORTED NUMEROUS PROGRAMS WITHIN THE HOSPITAL SUCH AS HEMATOLOGY/ONCOLOGY, GLOBAL HEALTH, PALLIATIVE CARE, RESEARCH AND EDUCATION, THE REGIONAL BURN CENTER, SAFETY AND INJURY PREVENTION, CHILD ADVOCACY, NEONATAL, PEDIATRICS, TELE-HEALTH MENTAL, AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Brown Exec Director/vp Development | OfficerTrustee | 50 | $350,250 |
Timothy Dufore Sr. Director Of Foundation | 50 | $232,827 | |
Maureen Katanik Sr. Director Of Development Planned Giving | 50 | $150,692 | |
Megan Hopper Sr. Director Of Principal Giving | 50 | $135,053 | |
Luann Maynard Director Development | 50 | $115,487 | |
Nicole Montesano Director Development | 50 | $114,432 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $445,586 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,586,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,032,204 |
| Total Program Service Revenue | $0 |
| Investment income | $3,920,251 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,002,156 |
| Net Income from Fundraising Events | -$303,396 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,651,405 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,307,050 |
| 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. | $404,799 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,382,229 |
| Pension plan accruals and contributions | $149,942 |
| Other employee benefits | $429,490 |
| Payroll taxes | $185,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $285,951 |
| Fees for services: Other | $155,875 |
| Advertising and promotion | $27,767 |
| Office expenses | $207,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $103,901 |
| Travel | $65,897 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,997 |
| Insurance | $0 |
| All other expenses | $69,903 |
| Total functional expenses | $16,184,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,066,488 |
| 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 | $149,090 |
| Net Land, buildings, and equipment | $3,456,354 |
| Investments—publicly traded securities | $202,203,979 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,571,396 |
| Total assets | $226,447,307 |
| Accounts payable and accrued expenses | $401,232 |
| 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 | $2,976,736 |
| Total liabilities | $3,377,968 |
| Net assets without donor restrictions | $108,029,354 |
| Net assets with donor restrictions | $115,039,985 |
| 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 | $226,447,307 |
Grants Awarded
Over the last fiscal year, Akron Childrens Hospital Foundation has awarded $11,307,050 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Akron, OH PURPOSE: CAPITAL SUPPORT | $6,241,146 |
Akron, OH PURPOSE: PATIENT CARE NEEDS | $5,065,904 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Akron Childrens Hospital Foundation has recieved totaling $125.
| Awarding Organization | Amount |
|---|---|
Dale W & Bonita J Van Voorhis Fam Foundation Hiram, OH PURPOSE: GENERAL PURPOSE | $125 |
Endowment Analysis
| Beg. Balance | $30,205,732 |
| Earnings | $1,918,829 |
| Admin Expense | -$1,490,812 |
| Net Contributions | $4,390,474 |
| Ending Balance | $38,005,847 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ufcw Local 1776 & Participating Employers Health & Welfare Fund Plymouth Meeting, PA | $60,321,476 | $63,078,058 |
Associates Health Trust Solon, OH | $8,159,190 | $46,591,493 |
Childrens Hospital Pittsburgh Foundation Pittsburgh, PA | $343,464,938 | $65,119,589 |
International Brotherhood Of Elec Workers 683 Health & Welfare Fund Lansing, MI | $27,261,838 | $34,571,326 |
Steamfitters Local 449 Medical & Benefit Fund Harmony, PA | $89,351,885 | $44,512,937 |
The Erm Group Health & Welfare Trust Malvern, PA | $0 | $29,217,705 |
Indiana Jefferson Radiation Oncology Inc Indiana, PA | $76,804 | $26,313,559 |
Indiana University Health Foundation Inc Indianapolis, IN | $328,480,588 | $51,478,300 |
Geisinger Health Danville, PA | $3,255,726,286 | $301,727,565 |
Promedica Foundation Toledo, OH | $412,976,640 | $33,946,131 |
Alyeska Pipeline Service Company Health And Welfare Benefits Trust Pittsburgh, PA | $2,121,654 | $18,868,152 |
Michiana Area Electrical Workers Health & Welfare Fund Lansing, MI | $25,252,279 | $21,753,324 |