Akron Marathon Charitable Corporation
- Assets
- $765.3k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Akron, OH
- Founding
- 10/2002
- Data as of
- 12/2022
- EIN
- 42-1531773
Organization Overview
Akron Marathon Charitable Corporation is located in Akron, OH. The organization was established in 2002. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Akron Marathon Charitable Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akron Marathon Charitable Corporation 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 12/2022, Akron Marathon Charitable Corporation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A WORLD-CLASS MARATHON THAT PROMOTES HEALTH AND FITNESS AND OTHER CHARITABLE CAUSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRST ENERGY AKRON MARATHON, HALF MARATHON & TEAM RELAY AND KIDS FUN RUN - THIRD AND FINAL EVENT IN THE AKRON MARATHON RACE SERIES WHICH IS THE MARQUEE RACE WITH 7300 PARTICIPANTS AND 2,000 VOLUNTEERS.
GOODYEAR HALF MARATHON & 10K - THE SECOND EVENT OF THE AKRON MARATHON RACE SERIES WHICH HAD 2,500 PARTICIPANTS, 350 VOLUNTEERS.
NATIONAL INTERSTATE 8K & 1 MILE - THE FIRST EVENT OF THE AKRON MARATHON RACE SERIES WHICH HAD 2000 PARTICIPANTS, 200 VOLUNTEERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Johnson Board Vice Chair | OfficerTrustee | 1 | $0 |
Jeannine Marks Board Member | Trustee | 1 | $0 |
Rick Merolla Board Chair | OfficerTrustee | 1 | $0 |
Steven L Marks Board Member | Trustee | 1 | $0 |
Amy Freeman Board Member | Trustee | 1 | $0 |
Doug Grassian Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $305,489 |
| Related organizations | $0 |
| Government grants | $57,255 |
| All other contributions, gifts, grants, and similar amounts not included above | $491,793 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $854,537 |
| Total Program Service Revenue | $637,467 |
| Investment income | $169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$451 |
| Net Income from Fundraising Events | -$204,690 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,294 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,300,326 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $217,783 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,849 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,876 |
| Payroll taxes | $30,473 |
| 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 | $0 |
| Fees for services: Other | $39,138 |
| Advertising and promotion | $108,302 |
| Office expenses | $72,678 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,185 |
| Travel | $28,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,796 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,456 |
| Insurance | $38,423 |
| All other expenses | $541 |
| Total functional expenses | $1,396,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,138 |
| Savings and temporary cash investments | $35,742 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,053 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,275 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $635,042 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $765,250 |
| Accounts payable and accrued expenses | $20,467 |
| Grants payable | $0 |
| Deferred revenue | $101,920 |
| 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 | $0 |
| Total liabilities | $122,387 |
| Net assets without donor restrictions | $642,863 |
| Net assets with donor restrictions | $0 |
| 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 | $765,250 |
Grants Awarded
Over the last fiscal year, Akron Marathon Charitable Corporation has awarded $53,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON CHILDREN'S HOSPITAL PURPOSE: Kids #1 Run and Gala | $13,000 |
STEWART'S CARING PLACE PURPOSE: To support the organizations exempt purpose. | $10,000 |
RONALD MCDONALD HOUSE PURPOSE: To support the organizations exempt purpose. | $10,000 |
THE MUSICAL INSTRUMENT MUSEUM PURPOSE: to support organization | $10,000 |
THE HARP FOUNDATION PURPOSE: to support organizatoin | $10,000 |