Akron Regional Development Board Educational Fund

Analysis

Akron Regional Development Board Educational Fund is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in September 1976, 50 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Akron Regional Development Board Educational Fund reported income of $700k and spending of $298k, leaving 57% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $547k to $700k (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2023, when income rose by 176%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Akron Regional Development Board Educational Fund sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within OH. Charities of a similar size with the same main cause include Hancock County Homes Foundation ($700k), New Morning Nursery Inc ($701k) and Training Institute of Natl Psycho Logical Assoc for Psychoanalysis ($700k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $1.5m against liabilities of $25k, net assets of $1.5m.