University of Akron Foundation

Analysis

University of Akron Foundation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in September 1966, 60 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Akron Foundation reported income of $16.6m and spending of $18.8m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $19.1m to $16.6m (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2021, when income rose by 103%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Akron Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Hampton Roads Academy ($16.6m), Metro Early College High School ($16.7m) and Shawnigan Lake School Foundation ($16.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% of the total. At year end it held assets of $251.6m against liabilities of $9.0m, net assets of $242.6m.