Overview
What is Akron Community Foundation?
The Akron Community Foundation, located at 345 West Cedar Street in Akron, Ohio, is a thriving nonprofit organization dedicated to improving life in the greater Akron area. During fiscal year 2023, they granted over $13 million to various community programs, focusing on arts & culture, education, health & human services, and civic affairs. Their mission involves building permanent endowments and providing philanthropic leadership, enabling donors to make lasting investments in the community. With a team of 21 employees, the Akron Community Foundation has awarded over 1,735 grants and other distributions, along with 468 grants and other distributions through endowment funds. Additionally, they have granted over 187 scholarships worth $443,570.
Official website here: www.akroncf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99% (Four-Star out of Four Star Rating)
The Akron Community Foundation has achieved a remarkable 99% score, reflecting strong performance across several critical aspects of its operations. The organization excels in Accountability & Finance with a perfect score of 100, demonstrating rigorous oversight of its financial practices and a commitment to transparency. Additionally, it boasts a high Culture & Community score of 93, indicating effective engagement and responsiveness to community needs.
Strengths highlighted include the foundation's majority independent board members, which fosters impartial governance. The foundation's financial health is also notably robust, with a program expense ratio of 85.5% and an impressive fundraising efficiency. Furthermore, the organization actively collects and utilizes feedback, ensuring that it remains adaptable and aligned with community expectations.
However, the Leadership & Adaptability score is lower at 16%, which may suggest room for improvement in these areas. While the foundation is operationally sound, this aspect could benefit from enhanced leadership strategies or adaptability measures to further strengthen its impact. Overall, the Akron Community Foundation demonstrates a strong commitment to its mission, with significant strengths that contribute to its effective service delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Akron Community Foundation legitimate?
Akron Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Akron Community Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $951,345
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,165,626
For more financial information, click here
Official website here: www.akroncf.org
What is the mission statement of Akron Community Foundation?
The Akron Community Foundation strives to enhance the quality of life in various communities by establishing permanent endowments and exercising philanthropic leadership. Donors are enabled to make lasting investments in their community through this mission. In the previous fiscal year, the foundation concentrated on four primary grant-making priorities: arts and culture, education, health and human services, and civic affairs. Over $9.5 million was granted from unrestricted and advised funds, and nearly $3.5 million was distributed through endowment funds. Moreover, over 187 scholarships amounting to $443,570 were awarded by the foundation.
Official website here: www.akroncf.org
Who is the CEO of Akron Community Foundation?
John T Petures Jr is the Chair of Akron Community Foundation. The CEO's salary of Akron Community Foundation is $295,641 and their total compensation is $388,251.
Official website here: www.akroncf.org
What is the revenue of Akron Community Foundation?
Akron Community Foundation's revenue in 2023 was $11,908,040.
Official website here: www.akroncf.org
Who are the executives of Akron Community Foundation and what are their salaries?
The average compensation at Akron Community Foundation during 2023 was $100,808. There are 21 employees and 24 volunteers at Akron Community Foundation.
Here are 30 key members and their salaries (Akron Community Foundation's CEO's salary is $295,641 and their total compensation is $388,251):
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- Compensation: $295,641
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- Compensation: $101,440
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- Other: $35,443
Official website here: www.akroncf.org
Where can I find the form 990 for Akron Community Foundation?
Akron Community Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.akroncf.org
Learn more at the official website: www.akroncf.org
Mission Statement of Akron Community Foundation
Akron Community Foundation is a philanthropic organization committed to improving the quality of life in the greater Akron area. By building permanent endowments and providing leadership, this foundation enables donors to make lasting investments in their community. In the fiscal year 2023, Akron Community Foundation focused on four grant-making priorities: arts & culture, education, health & human services, and civic affairs.
Through unadvised and advised funds, the organization distributed over $9,501,158 in grants and other distributions. This significant investment in the community supported various programs that aimed to enrich the lives of local residents. Furthermore, via endowment funds, Akron Community Foundation granted over $3,482,850. This funding contributed to the long-term sustainability of initiatives that address the needs of the community.
Scholarships were also a vital aspect of Akron Community Foundation's work during this period. Over 187 scholarships worth $443,570 were awarded. These scholarships provided opportunities for individuals to further their education and contribute to the community in the future. In summary, Akron Community Foundation's mission is to foster lasting change in the greater Akron area by harnessing the power of philanthropy. Through strategic grant-making and community partnerships, the foundation is making a positive impact on the lives of many.
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Impact
October, 2024
Akron Community Foundation significantly enhances the quality of life in the Greater Akron area by focusing on four key grant-making priorities: arts and culture, education, health and human services, and civic affairs. In fiscal year 2023, the foundation awarded over $9.5 million through 1,735 grants, as well as more than $3.4 million via endowment funds. Additionally, it facilitated 187 scholarships totaling $443,570, empowering students in their educational pursuits. Through these efforts, the foundation not only supports vital community programs but also fosters a culture of philanthropy and investment in the region's future.
This information is meant to be a general summary of Akron Community Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $3,056,260
- Gross Receipts: $78,079,969
Assets and Liabilities:
- Total Assets: $259,622,677
- Total Liabilities: $33,769,974
- Net Assets: $225,852,703
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Organization Details
Founding Year
1955
Phone
(330) 376-8522Principal Officer
John T Petures Jr
Main Address
345 WEST CEDAR ST, AKRON, OH, 443072407
Website
www.akroncf.orgNTEE Category
Code: T310 - Philanthropy
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