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Non-profit

Akron Community Foundation

Website:

www.akroncf.org
Location:

Akron, OH
Tax ID:

34-1087615
Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $15,338,811
Expenses: $15,175,742
Assets: $199,407,624
Type:

Community Foundation
Founded:

1995
President and CEO:

John T. Petures, Jr.

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Akron Community Foundation began in 1955 as a civic community foundation for the greater area of Akron, Ohio. The Foundation oversees 800 donor funds established by individuals, families, and organizations that provide grants to support education, health care, and community programs.

History

The Akron Community Foundation (originally known as Akron Community Trusts) was created in 1955 with a $1 million donation from tire company B.F. Goodrich vice president Edwin Shaw. 1 In 1964, the Foundation received a grant to establish a pre-kindergarten education program that became the basis for the federal Head Start program. 2 By 1990, the Foundation had total assets of $16.8 million. 3

After years of assisting medical, education, and parks programs,  the Foundation established a Gay Community Endowment Fund in 2001 to support LGBT interests in Greater Akron. 4

 

By 2012, the Foundation grant total exceeded $100 million and in December 2021, the lifetime grant total passed $200 million. 5 As of 2022, the Foundation has assets over $274 million and oversees almost 800 charitable funds in the Akron area. 6

Managed Funds

The Akron Community Foundation operates six types of funds: donor-advised funds, designated funds, agency endowment funds, scholarship funds, field-of-interest funds, and board discretionary funds. 7 Donor-advised funds allow donors to make grants while continuing to grow a fund’s balance. 8 Designated funds allow donors to identify a charity or charities while the Foundation will administer distributions in perpetuity. 9 Agency endowment funds provide nonprofits with stable, predictable income that can provide distributions annually or on an as-needed basis. 10 Scholarship funds provide educational scholarships to students under selection guidelines and the Foundation can provide guidance in recipient selection. 11 Field-of-interest funds allow a donor to select issues to fund while entrusting the board at the Foundation with decision-making. 12 Board selection funds allow the Foundation board to identify areas of need in the community and solicit applications with grants being awarded at the discretion of the board. 13

Foundation funds are broken down into the categories of general grants, Community Response Fund for Nonprofits, Arts and Culture, Civic Affairs, Health and Human Services, Education, Capital Grants, and Proactive Grants. 14 Affiliated funds include the Medina County Community Fund, Gay Community Endowment Fund, Medina County Women’s Endowment Fund, Millennium Fund for Children, Bath Community Fund, Vernon L. Odom Fund, and the Women’s Endowment Fund. 15 These programs provide funds to various areas such as homelessness, Girl and Boy Scouts, Habitat for Humanity, park restoration, health care in low income areas, and community initiatives. 16

After the 9/11 terrorist attacks, the Akron Community Foundation established a fund to replace ambulance and police cars in New York City with a goal of raising $375,000. 17 The fund raised over $1.4 million and donated a fire truck, two ambulances, and three police cruisers to New York City making it the largest single donation to replace vehicles lost in the attacks. 18

Funding

In 2020, the Akron Community Foundation had total assets of $274,088,705. 19 According to the organization’s tax filings, in 2020 the Foundation recorded $39,277,326 in revenue and $24,610,356 in expenses. 20 In 2019, the Akron Community Foundation had $15,338,811 in revenue and $15,175,742 in expenses. 21 The Foundation has given almost $209 million in grants since inception. 22 In fiscal year 2022, the Foundation awarded 2,276 grants totaling $13.5 million. 23

Leadership

John T. Petures Jr. has been the president and CEO of the Akron Community Foundation since 2008. 24 Previously, Petures spent five years as president of the Northeast Ohio Chapter of the Arthritis Foundation. 25 He also spent 15 years as the director of development for the United Way of Cleveland; associate executive director of United Way of New Haven, Connecticut; and director of development at United Way of Beaver, Pennsylvania. 26 Petures is a board member of the Fund for Our Economic Future, a group focused on equitable economic growth and advancing an inclusive economy in Northeast Ohio. 27

References

  1. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/our-history/.
  2. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/our-history/.
  3. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/our-history/.
  4. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/our-history/.
  5. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/our-history/.
  6. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/overview/; Akron Community Foundation, Return of a Nonprofit Corporation (Form 990), 2020.
  7. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  8. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  9. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  10. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  11. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  12. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  13.  Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/giving/charitable-funds/#six-types-of-funds.
  14. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/grantmaking-initiatives/education/grants/.
  15. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/grantmaking-initiatives/education/grants/.
  16. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/grantmaking-initiatives/education/grants/.
  17. Price, Mark J. “’Our Gift Will Be a Symbol:’ Akron Residents Donated Firetruck to New York City After 9/11.” Akron Beacon Journal. September 10, 2021. Accessed August 8, 2022. https://www.beaconjournal.com/story/news/2021/09/10/greater-akron-fire-truck-fund-raised-money-new-york-after-9-11/5663790001/.
  18.  Price, Mark J. “’Our Gift Will Be a Symbol:’ Akron Residents Donated Firetruck to New York City After 9/11.” Akron Beacon Journal. September 10, 2021. Accessed August 8, 2022. https://www.beaconjournal.com/story/news/2021/09/10/greater-akron-fire-truck-fund-raised-money-new-york-after-9-11/5663790001/.
  19.  Akron Community Foundation, Return of a Nonprofit Corporation (Form 990), 2020.
  20. Akron Community Foundation, Return of a Nonprofit Corporation (Form 990), 2020.
  21. Akron Community Foundation, Return of a Nonprofit Corporation (Form 990), 2019.
  22. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/about-us/overview/.
  23.  Akron Community Foundation website. www.akroncf.org. Accessed August 8, 2022. https://www.akroncf.org/grantmaking-initiatives/overview/.
  24. Akron Community Foundation website. www.akroncf.org. Accessed August 5, 2022. https://www.akroncf.org/personnel/john-t-petures-jr/; John T. Petures, Jr. LinkedIn profile. www.linkedin.com. Accessed August 5, 2022. https://www.linkedin.com/in/john-petures-95649310/.
  25. John T. Petures, Jr. LinkedIn profile. www.linkedin.com. Accessed August 5, 2022. https://www.linkedin.com/in/john-petures-95649310/.
  26. John T. Petures, Jr. LinkedIn profile. www.linkedin.com. Accessed August 5, 2022. https://www.linkedin.com/in/john-petures-95649310/.
  27. Fund for Our Economic Future website. www.thefundneo.org. Accessed August 8, 2022. https://www.thefundneo.org/about/leadership/#.
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Nonprofit Information

  • Accounting Period: March - February
  • Tax Exemption Received: April 1, 1960

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Mar Form 990 $15,338,811 $15,175,742 $199,407,624 $23,970,576 Y $11,553,844 $0 $5,302,920 $508,811 PDF
    2019 Mar Form 990 $17,836,804 $14,432,006 $220,708,500 $26,746,194 Y $10,763,025 $0 $6,759,446 $487,325 PDF
    2018 Mar Form 990 $26,227,595 $16,268,159 $218,987,730 $26,094,354 N $13,807,658 $0 $5,413,867 $492,488 PDF
    2017 Mar Form 990 $23,269,748 $14,391,251 $201,733,296 $24,460,400 N $14,998,620 $0 $3,462,637 $479,747 PDF
    2016 Mar Form 990 $18,877,847 $12,647,932 $182,005,604 $23,215,242 N $10,337,049 $0 $3,592,404 $443,117 PDF
    2015 Mar Form 990 $20,132,266 $12,054,255 $191,592,659 $24,286,572 N $13,520,915 $0 $3,703,047 $430,665 PDF
    2014 Mar Form 990 $28,942,827 $10,020,062 $180,986,117 $22,306,250 N $20,159,760 $0 $3,857,308 $376,193 PDF
    2013 Mar Form 990 $14,550,294 $9,766,457 $150,229,681 $7,377,711 N $7,302,656 $0 $3,264,018 $366,676 PDF
    2012 Mar Form 990 $12,988,102 $8,425,897 $140,719,939 $6,807,672 N $9,921,568 $0 $2,987,186 $347,141 PDF

    Additional Filings (PDFs)

    Akron Community Foundation

    345 West Cedar Street
    Akron, OH 44307-2407