THE UNIVERSITY OF AKRON FOUNDATION

EIN: 346575496 501(c)(3) Education

AKRON, OH

Total Revenue
$34,589,377
Total Expenses
$23,480,054
Total Assets
$313,781,272
Net Assets
$304,931,855
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Financial Trends

Organization Details

Formation Year
1966
Legal Domicile
OH
Principal Officer
KIMBERLY COLE
Phone
3309725088
Tax Period
2024-07-01 to 2025-06-30

THE UNIVERSITY OF AKRON FOUNDATION, founded in 1966, is a mid-sized nonprofit in the Education sector that reported $34.6M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.1M, a strong 32% operating margin.

Mission

THE UNIVERSITY OF AKRON FOUNDATION EXISTS TO STRENGTHEN THE UNIVERSITY'S FUTURE BY SECURING AND MANAGING PHILANTHROPIC GIFTS THAT FUND SCHOLARSHIPS, ACADEMIC PROGRAMS, AND CAMPUS IMPROVEMENTS.

Program Service Accomplishments

Program 1
Expenses: $4,656,723

A CORNERSTONE OF THE UNIVERSITY OF AKRON FOUNDATION'S MISSION IS THE DEDICATED STEWARDSHIP OF DONOR-ESTABLISHED ENDOWMENTS. BY CAREFULLY HONORING THE PHILANTHROPIC INTENT OF OUR DONORS, THE...

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A CORNERSTONE OF THE UNIVERSITY OF AKRON FOUNDATION'S MISSION IS THE DEDICATED STEWARDSHIP OF DONOR-ESTABLISHED ENDOWMENTS. BY CAREFULLY HONORING THE PHILANTHROPIC INTENT OF OUR DONORS, THE FOUNDATION PLAYS A PIVOTAL ROLE IN EXPANDING STUDENT ACCESS THROUGH VITAL FINANCIAL AID. IN THE FISCAL YEAR ENDING JUNE 30, 2025, THIS COMMITMENT TRANSLATED INTO SUPPORT FOR APPROXIMATELY 1,000 SCHOLARSHIP ACCOUNTS ACROSS THE UNIVERSITY, ENSURING THAT DONOR LEGACIES CONTINUE TO EMPOWER THE NEXT GENERATION OF STUDENTS.

Program 2
Expenses: $4,407,178

ACADEMIC/ADMINISTRATIVE 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...

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ACADEMIC/ADMINISTRATIVE 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, 2025, THE FOUNDATION HELPED FUND APPROXIMATELY 100 COLLEGE AND DEPARTMENT ACCOUNTS, 14 ACADEMIC CHAIR ACCOUNTS, 19 LECTURESHIP ACCOUNTS, 30 FELLOWSHIP ACCOUNTS, 12 INTERNSHIP ACCOUNTS, 10 PROFESSORSHIP ACCOUNTS, 8 CENTER ACCOUNTS, AND 4 INSTITUTE ACCOUNTS.

Program 3
Expenses: $4,342,589

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...

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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. IN 2024-25, THE SPENDING FOR THE THREE LARGEST FACILITY IMPROVEMENTS WERE THE FOLLOWING:1) $1,555,361 POLSKY BUILDING RENOVATION2) $392,0527 HOWER HOUSE OPERATIONS3) $147,500 ATHLETICS TRACK RENOVATION

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $18,572,532
Program Service Revenue $0
Investment Income $16,016,845
Other Revenue $0
TOTAL REVENUE $34,589,377

Expense Breakdown

Grants Paid $15,850,177
Salaries & Benefits $0
Fundraising Expenses $928,852
Program Expenses $15,850,177
Other Expenses $7,629,877
TOTAL EXPENSES $23,480,054

Year-over-Year Comparison

2024 2023 Change
Revenue $34,589,377 $26,360,400 +0.3%
Expenses $23,480,054 $24,843,394 -0.1%
Net Income $11,109,323 $1,517,006 +6.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
37
Independent Members
37
Employees
N/A
Volunteers
785

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
10
$1,477,129
Total Directors
37
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PHILIP A LLOYD DIRECTOR AND CHAIR 1.40
Officer Director
$0 $0 $0
PAMELA S WILLIAMS DIRECTOR AND VICE CHAIR 0.90
Officer Director
$0 $0 $0
KATHRYN W DINDO DIRECTOR AND VICE CHAIR 0.90
Officer Director
$0 $0 $0
IRVIN J MUSSON SECRETARY 1.00
Officer Director
$0 $0 $0
JOHN R ADAMS DIRECTOR 0.30
Director
$0 $0 $0
LEWIS W ADKINS DIRECTOR 0.10
Director
$0 $0 $0
ANTHONY J ALEXANDER DIRECTOR 0.30
Director
$0 $0 $0
LARRY W ALLEN DIRECTOR 0.10
Director
$0 $0 $0
ROLAND H BAUER DIRECTOR 0.10
Director
$0 $0 $0
FRANK P BEVILACQUA DIRECTOR 0.20
Director
$0 $0 $0
CHRISTOPHER J BURNHAM DIRECTOR 0.10
Director
$0 $0 $0
KEITH A CLINE DIRECTOR 0.20
Director
$0 $0 $0
STEVEN S COX DIRECTOR 0.20
Director
$0 $0 $0
MICHAEL D CROME DIRECTOR 0.20
Director
$0 $0 $0
SAMUEL D DESHAZIOR DIRECTOR 0.20
Director
$0 $0 $0
DURIYA A DHINOJWALA DIRECTOR 0.10
Director
$0 $0 $0
CARINA S DIAMOND DIRECTOR 0.30
Director
$0 $0 $0
LAURA DUDA DIRECTOR 0.20
Director
$0 $0 $0
NAOMI D GANOE DIRECTOR 0.10
Director
$0 $0 $0
JOSEPH M GINGO DIRECTOR 0.50
Director
$0 $0 $0
CHRISTOPHER V GOFF DIRECTOR 0.10
Director
$0 $0 $0
DAVID M GRUBB DIRECTOR 0.20
Director
$0 $0 $0
HALLE G JONES CAPERS DIRECTOR 0.10
Director
$0 $0 $0
BRIAN C LAYMAN DIRECTOR 0.40
Director
$0 $0 $0
RAYMOND K LEE DIRECTOR 0.20
Director
$0 $0 $0
RAJKUMAR MAKAM DIRECTOR 0.20
Director
$0 $0 $0
JAMES D MCCOOL DIRECTOR 0.30
Director
$0 $0 $0
JENIFER MEADE DIRECTOR 0.20
Director
$0 $0 $0
THEODORA MUSSON DIRECTOR 0.20
Director
$0 $0 $0
SANDRA PIANALTO DIRECTOR 0.20
Director
$0 $0 $0
JOSEPH E REECE DIRECTOR 0.30
Director
$0 $0 $0
WILLIAM H SKEELES DIRECTOR 0.20
Director
$0 $0 $0
REBECCA SLAYMAN-GALLAGHER DIRECTOR 0.20
Director
$0 $0 $0
GLEN L STEPHENS DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER T TEODOSIO DIRECTOR 0.20
Director
$0 $0 $0
MARLENE K TOOT DIRECTOR 0.30
Director
$0 $0 $0
ERNEST VARGO II DIRECTOR 0.10
Director
$0 $0 $0
MISTY VILLERS EX-OFFICIO DIRECTOR 0.40
Officer
$0 $57,159 $224,966
JOHN WIENCEK EX-OFFICIO DIRECTOR - LEFT MAY 2025 0.40
Officer
$0 $77,886 $429,100
RJ NEMER EX-OFFICIO DIRECTOR 0.40
Officer
$0 $61,177 $472,806
GWYNETH PRICE EX-OFFICIO DIRECTOR 0.40
Officer
$0 $0 $0
KIMBERLY M COLE EXECUTIVE DIRECTOR 39.00
Officer
$0 $48,489 $229,999
BARRY JUST ASSISTANT TREASURER 39.00
Officer
$0 $15,000 $120,258
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $34,589,377 $23,480,054 $313,781,272 $11,109,323
2024 $26,360,400 $24,843,394 $277,324,523 $1,517,006
2023 $16,632,940 $18,797,090 $251,625,335 $-2,164,150
2022 $26,694,571 $17,424,752 $239,703,778 $9,269,819
2021 $29,706,215 $16,434,477 $253,522,998 $13,271,738
2020 $14,662,521 $16,001,825 $205,506,114 $-1,339,304
2019 $19,069,169 $24,105,670 $211,749,572 $-5,036,501
2018 $34,558,263 $19,676,287 $221,103,070 $14,881,976
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