University of Akron Foundation
Legal name: The University of Akron Foundation
Nonprofit profile at a glance
- EIN
- 346575496
- IRS 990 coverage
- 2015–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Akron, OH, USA
- Phone
- (330) 972-7608
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $34,589,377
- Expenses
- $23,480,054
- Assets
- $313,781,272
- Liabilities
- $8,849,417
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
43 people listed
Executive titles in this filing
- KIMBERLY M COLE (EXECUTIVE DIRECTOR)
Highest reported compensation
- RJ NEMER (EX-OFFICIO DIRECTOR): $472,806 total reported compensation
- JOHN WIENCEK (EX-OFFICIO DIRECTOR - LEFT MAY 2025): $429,100 total reported compensation
- KIMBERLY M COLE (EXECUTIVE DIRECTOR): $229,999 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The University of Akron Foundation receives, invests and administers private gifts and bequests for the benefit of The University of Akron.
What it reported doing in 2024
A cornerstone of the university of akron foundation's mission is the dedicated stewardship of donor-established endowments. By carefully honoring the philanthropic intent of our donors, the foundation plays a pivotal role in expanding student access through vital financial aid. In the fiscal year ending june 30, 2025, this commitment translated into support for approximately 1,000 scholarship accounts across the university, ensuring that donor legacies continue to empower the next generation of students.
Operating model
- Revenue model
- Donor-supported. 77% 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 71
- Accountability: 82
- Sustainability: 90
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.6%; rating input score 74
- Program expense ratio: 67.5%; rating input score 68
- Fundraising efficiency: $20 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 32.1%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 13.36; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
- Officer compensation ratio: 1.1%; rating input score 85; 85th percentile among comparable filings
Growth
- Program expense growth: 1.5% per year; rating input score 100; 17th percentile among comparable filings
- Revenue growth: 2.5% per year; rating input score 100; 21st percentile among comparable filings
- Asset growth: 4.9% per year; rating input score 100; 35th percentile among comparable filings
Details
- What they do: Mission, programs, and operating context captured from the official website.
- Where the money goes: 73.6% of revenue deployed · 67.5% of spending went to programs
- Governance: 37 of 37 board members independent · 5 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $15.9M in reported program spending
- Leadership: top reported pay $473K · 43 people listed · 0 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 10 filing years from 2015 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 4 of 9 not reported.
- Review — Financial Efficiency: Fundraising efficiency scored 57/100.