Akron Community Foundation

Nonprofit profile at a glance

EIN
341087615
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Akron, OH, USA
Phone
3303768522
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$20,297,406
Expenses
$20,048,920
Assets
$305,457,507
Liabilities
$38,941,302

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • JOHN T PETURES JR (PRESIDENT & CEO)
  • STEVEN H SCHLOENBACH (VICE PRESIDENT, CFO)

Highest reported compensation

  • JOHN T PETURES JR (PRESIDENT & CEO): $414,532 total reported compensation
  • STEVEN H SCHLOENBACH (VICE PRESIDENT, CFO): $211,339 total reported compensation
  • JOHN GAROFALO (VP OF COMMUNITY INVESTMENT): $175,792 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To identify, activate, and support informed and passionate philanthropists who strive to improve the quality of life in our community. We accomplish this by:- building a permanent source of charitable funding- cultivating strategic relationships with diverse charitable individuals, professional advisors, and community organizations- inspiring new donors by capturing and sharing compelling examples of the positive impact of philanthropy in our community- educating and connecting donors to nonprofit organizations whose needs match the donor's interests

What it reported doing in 2024

During the fiscal year 2025, akron community foundation continued its focus on four defined grant-making priorities. Those include supporting programs in the community that are focused on arts & culture, education, health & human services, and civic affairs. Total grant making back to the community through unrestricted and advised fund totaled over $16,701,202 via 1,692 grants and other distributions, endowment fund tottaled over $4,793,115 via 395 grants and other distributions. Akron community foundation awarded 230 scholarships totaling $669,063.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 92% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.9%; rating input score 79
  • Program expense ratio: 83.9%; rating input score 84
  • Fundraising efficiency: $10.9 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99%; rating input score 99; 32nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 15.24; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 78.9% of revenue deployed · 83.9% of spending went to programs
  • Governance: 24 of 24 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $16.8M in reported program spending
  • Leadership: top reported pay $415K · 30 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $673K reported
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 341 filed money-flow records
  • Related organizations: 336 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.