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University Of Akron Research Foundation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 341972453 ✦ Akron, OH ✦ Designated as a 501(c)(3)

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Overview

What is University Of Akron Research Foundation?

The University of Akron Research Foundation is a nonprofit organization situated at 170 University Circle APT 312, Akron, Ohio. Its primary objective is to support and facilitate research activities at the University of Akron, benefiting its faculty, staff, and students. By managing intellectual property and administering specific research projects, the foundation aims to promote commercialization and stimulate economic development in the Northeast Ohio region. With a team of 12 dedicated individuals, the University of Akron Research Foundation contributes to the university's growth and success, fostering innovation and technological advancements within the community.

Is University Of Akron Research Foundation legitimate?

University Of Akron Research Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Akron Research 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $475,846

For more financial information, click here

What is the mission statement of University Of Akron Research Foundation?

The University of Akron Research Foundation's mission is centered around supporting the University of Akron by managing its intellectual property and overseeing certain research activities. This organization aims to foster commercialization and stimulate economic growth in the Northeast Ohio region. By licensing developed technologies to local start-up companies, the Foundation contributes to the region's economic development. Additionally, the Foundation encourages and provides assistance to research and licensing activities of the University's faculty, staff, and students.

Who is the CEO of University Of Akron Research Foundation?

Kendall Martis is the Chariman of University Of Akron Research Foundation.

What is the revenue of University Of Akron Research Foundation?

University Of Akron Research Foundation's revenue in 2022 was $3,711,424.

Who are the executives of University Of Akron Research Foundation and what are their salaries?

The average compensation at University Of Akron Research Foundation during 2022 was $39,654. There are 12 employees and 9 volunteers at University Of Akron Research Foundation.


Here are 13 key members and their salaries:


Gary Miller (Chariman)
  • Compensation: $0
  • Related: $523,553
  • Other: $60,842
Philip Allen (President)
  • Compensation: $0
  • Related: $186,385
  • Other: $44,598
Marnie Saunders (Director)
  • Compensation: $0
  • Related: $153,263
  • Other: $32,721
Elyse Ball (Secretary)
  • Compensation: $105,000
  • Related: $0
  • Other: $0
Kendall Martis (Treasurer)
  • Compensation: $68,780
  • Related: $0
  • Other: $0
Thomas Waltermire (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Thompson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ilene Shapiro (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Joe Rich (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Cooper (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
William Scala (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Roland Bauer (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dennis Coco (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for University Of Akron Research Foundation?

University Of Akron Research Foundation's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of University Of Akron Research Foundation

The University of Akron Research Foundation's mission is centered around benefiting the University of Akron by managing its intellectual property and overseeing certain research activities. Their primary goal is to foster commercialization and stimulate economic development in the Northeast Ohio region. To achieve this, they provide assistance to the research endeavors of the university's faculty, staff, and students, with an aim to license these technologies to emerging companies. In this way, the University of Akron Research Foundation contributes to the growth and prosperity of the local economy.

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Impact




October, 2024

The University of Akron Research Foundation plays a crucial role in advancing research initiatives and fostering economic development in Northeast Ohio. By managing the intellectual property generated from the University of Akron's faculty, staff, and students, it not only maximizes the impact of academic research but also translates innovations into commercial opportunities.

The foundation facilitates the commercialization of technologies through licensing agreements, thereby stimulating the growth of startup companies in the region. This not only enhances the university's academic landscape but also supports local job creation and economic growth. With a strong focus on promoting and assisting research activities, the foundation helps bridge the gap between scientific discovery and practical application, ensuring that the benefits of research extend beyond the campus and into the community.




This information is meant to be a general summary of University Of Akron Research 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.

Revenue
$3,711,424 (2022)
Expenses
$3,589,647 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $340,641
  • Program Service Revenue: $2,115,476
  • Gross Receipts: $3,711,424

Assets and Liabilities:

  • Total Assets: $12,543,430
  • Total Liabilities: $4,976,267
  • Net Assets: $7,567,163

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

License Revenue

Revenue

$60,060

Sponsored Research

Revenue

$434,180

Research Funding

Revenue

$1,164,628

Rental Income

Revenue

$456,608

Organization Details

Founding Year

2001

Principal Officer

Kendall Martis

Main Address

170 University Circle APT 312, Akron, OH, 443252103

NTEE Category

Code: B02 - Education

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