University Of Akron Foundation

Organization Overview

University Of Akron Foundation is located in Akron, OH. The organization was established in 1966. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Akron 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 06/2020, University Of Akron Foundation generated $14.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $16.0m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO MANAGE PROPERTY, INVESTMENTS AND CERTAIN EXPENDITURES FOR THE BENEFIT OF THE UNIVERSITY OF AKRON.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACADEMIC SUPPORT: THE UNIVERSITY OF AKRON FOUNDATION PROVIDES MANY OPPORTUNITIES FOR STUDENTS AND FACULTY TO GROW AND EXCEL THROUGH ACADEMIC SUPPORT. DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE FOUNDATION HELPED FUND 73 COLLEGE AND DEPARTMENT ACCOUNTS, 15 FELLOWSHIP ACCOUNTS, 15 LECTURESHIP ACCOUNTS, 15 ACADEMIC CHAIR ACCOUNTS, 13 INTERNSHIP ACCOUNTS, 8 PROFESSORSHIP ACCOUNTS, 4 INSTITUTE ACCOUNTS, 2 PRE-COLLEGE PROGRAM ACCOUNTS, 2 CENTER ACCOUNTS, AND THE HISTORY OF PSYCHOLOGY ARCHIVE ACCOUNT AT THE UNIVERSITY OF AKRON.


PHYSICAL IMPROVEMENTS AND OPERATIONAL SUPPORT: THE UNIVERSITY OF AKRON FOUNDATION CONTINUES TO SUPPORT THE UNIVERSITY OF AKRON CAMPUS ENHANCEMENTS BY FUNDING OR HELPING TO FUND PHYSICAL IMPROVEMENTS. DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE FOUNDATION PROVIDED $180,000 TOWARDS THE UNIVERSITY'S CAMERA INITIATIVE TO IMPROVE SAFETY AND SECURITY.


STUDENT FINANCIAL AID: ONE OF THE FOUNDATION'S OBJECTIVES IS TO ASSIST THE UNIVERSITY OF AKRON WITH FUNDING FOR STUDENT FINANCIAL AID. DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE FOUNDATION PROVIDED FUNDING FOR MORE THAN 790 SCHOLARSHIP ACCOUNTS WITHIN THE UNIVERSITY OF AKRON.


AUXILLIARY PROGRAMS: THE UNIVERSITY OF AKRON FOUNDATION PROVIDED DONOR-DESIGNATED FINANCIAL ASSISTANCE TO THE ATHLETIC PROGRAM, THE PERFORMING ARTS HALL AT THE UNIVERSITY OF AKRON, AND HOWER HOUSE, A HISTORIC BUILDING OWNED BY THE UNIVERSITY OF AKRON.


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Board, Officers & Key Employees

Name (title)Compensation
Philip A Lloyd
Director And Chair
$0
Kathleen A Coleman
Director And Vice Chair
$0
Kathryn W Dindo
Director And Secretary
$0
Pamela S Williams
Director And Vice Chair
$0
Dallas Grundy
Ex-Officio Director
$0
Gary L Miller
Ex-Officio Director
$0

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$10,861,977
Investment income $5,359,105
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,558,561
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $14,662,521

Grants Recieved

Over the last fiscal year, we have identified 5 grants that University Of Akron Foundation has recieved totaling $131,000.

Awarding OrganizationAmount
Jim & Vanita Oelschlager Foundation

Akron, OH

PURPOSE: GENERAL FUND

$75,000
F W Albrecht Family Foundation

Akron, OH

PURPOSE: DEAN NEMER ILLUMINATION WALKWAY PROJECT AT COLLEGE OF BUSINESS

$50,000
Laura B Frick Tr U Item 17 Uwo

Pittsburgh, PA

PURPOSE: WAYNE COLLEGE MAKER SPACE

$5,000
Gannett Foundations Inc

Mclean, VA

PURPOSE: CHARITABLE PURPOSE

$500
Gannett Foundations Inc

Mclean, VA

PURPOSE: CHARITABLE PURPOSE

$500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$151,414,946
Earnings$43,439,991
Admin Expense$2,200,497
Net Contributions$6,011,652
Other Expense$2,884,739
Grants$2,736,582
Ending Balance$193,044,771

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