Overview
What is The University Of Akron Foundation?
The University of Akron Foundation is a nonprofit organization based at 302 Buchtel Common, Akron, Ohio, with a ZIP code of 44325. It supports the growth and success of students and faculty at the University of Akron through various academic programs. During the fiscal year ending June 30, 2022, the foundation managed and funded numerous college and department accounts, academic chair accounts, lectureship accounts, fellowships, internships, professorships, institute accounts, pre-college program accounts, center accounts, and the History of Psychology Archive Account. The foundation's primary mission is to manage property, investments, and certain expenditures for the benefit of the University of Akron.
Official website here: www.uakron.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
The University of Akron Foundation has received a strong Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The foundation's score is based entirely on its financial practices, demonstrating effective management of resources, including a low liability-to-assets ratio and a high program expense ratio of nearly 72%. This suggests that a significant portion of their funds is directed towards their programs rather than administrative costs.
One of the foundation's notable strengths is its governance structure, which boasts 86% independent board members. The organization has clear policies in place for conflict of interest and document retention, further enhancing its accountability. However, it is worth noting that the foundation lacks a whistleblower policy, which could be seen as a limitation in terms of promoting transparency and safeguarding against misconduct.
Overall, the University of Akron Foundation exhibits strong financial efficiency with a fundraising cost of just $0.022 per dollar raised, and an impressive working capital ratio that indicates long-term financial stability. Despite the absence of a whistleblower policy, the foundation's commitment to accountability and effective financial management makes it a reputable organization in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is The University Of Akron Foundation legitimate?
The University Of Akron Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The University Of Akron 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.
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For more financial information, click here
Official website here: www.uakron.edu
What is the mission statement of The University Of Akron Foundation?
The University of Akron Foundation (UAF) serves the University of Akron (UA) by managing its property, investments, and specific expenditures. Its primary objective is to operate exclusively for UA's benefit. During the fiscal year 2022, the foundation supported numerous academic initiatives by funding various accounts, including 78 college and department accounts, 15 academic chair accounts, and several fellowship, internship, and professorship accounts. The foundation's contributions enhance students and faculty opportunities for growth and excellence within the academic community.
Official website here: www.uakron.edu
What is the revenue of The University Of Akron Foundation?
The University Of Akron Foundation's revenue in 2024 was $26,360,400.
Official website here: www.uakron.edu
Who are the executives of The University Of Akron Foundation and what are their salaries?
There 605 volunteers at The University Of Akron Foundation.
Here are 39 key members and their salaries:
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- Related: $176,577
- Other: $28,792
Official website here: www.uakron.edu
Where can I find the form 990 for The University Of Akron Foundation?
The University Of Akron Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.uakron.edu
Learn more at the official website: www.uakron.edu
Mission Statement of The University Of Akron Foundation
The University Of Akron Foundation, a non-profit organization, is dedicated to supporting the University of Akron (UA) by managing and investing resources for its benefit. With a mission to exclusively serve UA, the Foundation receives, holds, invests, and administers property to advance the university's interests. In doing so, it enhances the educational experience for students and faculty through various academic support programs.
During the fiscal year ending on June 30, 2022, the Foundation played a crucial role in funding numerous college and department accounts, academic chairs, lectureships, fellowships, internships, professorships, institutes, pre-college programs, and centers at the University of Akron. By providing these resources, the Foundation helped foster growth and excellence within the academic community.
The University Of Akron Foundation's academic support initiatives enable students and faculty to thrive, contributing to the university's overall development. Through its various funding opportunities, the Foundation empowers UA to maintain a strong academic profile.
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Impact
October, 2024
The University of Akron Foundation significantly enhances the educational landscape for students and faculty at the University of Akron. By managing property and investments, the Foundation ensures that financial resources are allocated effectively to support a variety of academic initiatives. During the fiscal year ending June 30, 2022, the Foundation provided vital funding to numerous academic accounts, enabling the advancement of education through scholarships, lectureships, fellowships, internships, and professorships.
This comprehensive support translates into tangible benefits for the academic community, as seen in the funding of 78 college and department accounts, and additional resources for 15 academic chairs and 14 lectureships. These contributions foster an environment where students can excel, providing essential opportunities that enhance their learning and professional experiences. The Foundation's commitment to academic support not only enriches the educational infrastructure but also promotes a culture of excellence and innovation at the University of Akron.
This information is meant to be a general summary of The University Of Akron 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 2024.
- Investment Income: $2,509,581
- Gross Receipts: $46,927,929
Assets and Liabilities:
- Total Assets: $239,703,778
- Total Liabilities: $9,471,028
- Net Assets: $230,232,750
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Organization Details
Founding Year
1966
Phone
(330) 972-5088Principal Officer
Kimberly Cole
Main Address
302 BUCHTEL COMMON, AKRON, OH, 443256220
Website
www.uakron.eduNTEE Category
Code: B110 - Education
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