Akron Community Foundation

Analysis

Akron Community Foundation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in April 1960, 66 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Akron Community Foundation reported income of $11.9m and spending of $18.2m, spending 153% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income fell from $17.8m to $11.9m (-33%), an average of -9.6% a year. The sharpest change came in the year to March 2021, when income rose by 156%. Over the whole period it spent 79% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Akron Community Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include United Way of the Mid-South ($11.9m), United Way of Monterey County ($11.9m) and Northwest Connecticut Community Foundation Inc ($11.9m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 75% of the total. Compensation of current officers, directors and key employees was $951k (5.2% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $259.6m against liabilities of $33.8m, net assets of $225.9m. It reported 21 employees.