Kent State University Foundation

Nonprofit profile at a glance

EIN
346576307
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Kent, OH, USA
Phone
3306722222
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$22,389,795
Expenses
$21,243,566
Assets
$365,185,422
Liabilities
$25,837,046

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

Leadership & pay

38 people listed

Executive titles in this filing

  • VALOREE VARGO (CHIEF EXECUTIVE OFFICER)

People named in this filing

  • JESSICA VARGO (ASSISTANT TREASURER)
  • RAJ AGGARWAL - DECEASED (DIRECTOR)
  • LAWRENCE ARMSTRONG (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The kent state university foundation provides leadership, private sector funding and stewardship of gifts to support kent state university, meet its needs and achieve its priorites.

What it reported doing in 2024

The kent state university foundation provided grants to kent state university to further the universitys academic, research, and public service programs.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.7%; rating input score 85
  • Program expense ratio: 82%; rating input score 82
  • Fundraising efficiency: $50.46 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 17.19; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 84.7% of revenue deployed · 82% of spending went to programs
  • Governance: 33 of 33 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $17.4M in reported program spending
  • Leadership: top reported pay $0 · 38 people listed
  • Highest-paid contractors: 1 contractor listed · $121K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.