Akron Community Foundation

Organization Overview

Akron Community Foundation is located in Akron, OH. The organization was established in 1960. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2022, Akron Community Foundation employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akron Community 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 03/2021, Akron Community Foundation generated $39.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $24.6m during the year ending 03/2021. While expenses have increased by 11.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2016, Akron Community Foundation has awarded 4,581 individual grants totaling $92,956,266. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE THE QUALITY OF LIFE IN THE GREATER AKRON AREA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING FISCAL YEAR 2022, AKRON COMMUNITY FOUNDATION CONTINUED ITS FOCUS ON FOUR DEFINED GRANT-MAKING PRIORITIES. THOSE INCLUDE SUPPORTING PROGRAMS IN THE COMMUNITY THAT ARE FOCUSED ON ARTS & CULTURE, EDUCATION, HEALTH & HUMAN SERVICES, AND CIVIC AFFAIRS. TOTAL GRANT MAKING BACK TO THE COMMUNITY THROUGH UNRESTRICTED AND ADVISED FUND TOTALED OVER $8,515,436 VIA 1,699 GRANTS AND OTHER DISTRIBUTIONS TOTALED OVER $4,089,880 THROUGH ENDOWMENT FUND VIA 398 GRANTS AND OTHER DISTRIBUTIONS. AKRON COMMUNITY FOUNDATION AWARDED OVER 177 SCHOLARSHIPS TOTALING $491,319.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Huntington Bank Trust Department
Investment Management, Custody And Banki
$264,976
Pnc Capital Advisors Llc
Investment Management Services
$124,520
Diamond Hill Capital Management
Investment Management Services
$133,887
Broadleaf Partner Equity
Investment Management Services
$113,567
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$168,235
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$22,185,343
Noncash contributions included in lines 1a–1f $4,277,308
Total Revenue from Contributions, Gifts, Grants & Similar$22,353,578
Total Program Service Revenue$0
Investment income $7,961,608
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $9,018,959
Net Income from Fundraising Events -$56,819
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $39,277,326

Grants Awarded

Over the last fiscal year, Akron Community Foundation has awarded $12,139,364 in support to 285 organizations.

Grant RecipientAmount

IBH FOUNDATION INC

Org PageRecipient Profile

Akron, OH

PURPOSE: FOR IMPROVEMENTS, MAINTENANCE AND PROGRAM SUPPORT

$1,001,956

CONSERVANCY FOR CUYAHOGA VALLEY NATIONAL PARK

Org PageRecipient Profile

Peninsula, OH

PURPOSE: FOR THE JULY FUNDRAISING MATCHING GRANT APPEAL AT THE "MEADOW" LEVEL

$641,817

UNITED WAY OF SUMMIT AND MEDINA

Org PageRecipient Profile

Akron, OH

PURPOSE: SPENDABLE INCOME FOR THE QUARTER ENDING MARCH 31, 2021

$515,599

COMMUNITY HALL FOUNDATION PROGRAM ENDOWMENT DBA AKRON CIVIC THEATRE

Org PageRecipient Profile

Akron, OH

PURPOSE: TO SUPPORT THE AKRON CIVIC THEATRE BOARD AND STAFF'S ENGAGEMENT IN IDEA TRAINING AND ASSESSMENT

$440,638

SUMMIT EDUCATION INITIATIVE

Org PageRecipient Profile

Akron, OH

PURPOSE: QUARTERLY DISTRIBUTION

$415,595

ART RESOURCES TRANSFORMATIONS

Org PageRecipient Profile

Akron, OH

PURPOSE: TO SUPPORT INITIATIVES OF EXHIBITING PUBLIC ART IN VACANT STOREFRONT WINDOWS AND BUILDINGS IN DOWNTOWN AKRON

$333,247
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Akron Community Foundation has recieved totaling $5,500.

Awarding OrganizationAmount
The@marksewing Family Foundation

Akron, OH

PURPOSE: SUPPORT CHARITABLE PURPOSE OF ORGANIZATION

$5,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$236,577,000
Earnings$5,247,000
Net Contributions$17,966,000
Other Expense$18,139,000
Ending Balance$241,651,000

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