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Nonprofiteer
← UNIVERSITY OF AKRON RESEARCH FOUNDATION

Form 990 for tax year 2024

Filed by UNIVERSITY OF AKRON RESEARCH FOUNDATION.

Totals

Total revenue
$2,778,758
Total expenses
$1,802,950
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,380,107
Investment income
$548,315
Other revenue
$850,336
Total assets, end of year
$11,207,703
Total liabilities, end of year
$2,108,615
Net assets or fund balances, end of year
$9,099,088
Program services expenses (Part IX)
$1,742,582
Management and general expenses
$60,368
Fundraising expenses
$0
Program service expenses (Part III)
$1,742,582

Program services were 96.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Research funding

    total $668,370 · related or exempt $668,370 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Rental income

    total $540,049 · related or exempt $540,049 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: License revenue

    total $129,500 · related or exempt $129,500 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Sponsored research

    total $42,188 · related or exempt $42,188 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $548,315 · related or exempt $548,315 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Consulting income

    total $447,647 · related or exempt $447,647 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Patent reimbursement

    total $367,808 · related or exempt $367,808 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $34,881 · related or exempt $34,881 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $850,336

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $134,633 · program services $134,633 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $32,272 · program services $32,272 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $16,039 · program services $16,039 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $29,458 · program services $0 · management and general $29,458 · fundraising $0

  • 11b · Fees: legal

    total $595 · program services $595 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $65,656 · program services $34,746 · management and general $30,910 · fundraising $0

  • 13 · Office expenses

    total $23,155 · program services $23,155 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $85,491 · program services $85,491 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $430,357 · program services $430,357 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $192,288 · program services $192,288 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $36,486 · program services $36,486 · management and general $0 · fundraising $0

  • 24a · Other expenses: Research support and economic development

    total $633,801 · program services $633,801 · management and general $0 · fundraising $0

  • 24b · Other expenses: Credit losses

    total $122,719 · program services $122,719 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $704,952 · end of year $367,740

  • 4 · Accounts receivable

    beginning of year $665,895 · end of year $580,078

  • 9 · Prepaid expenses and deferred charges

    beginning of year $143,097 · end of year $49,140

  • 10a · Land, buildings and equipment: cost or other basis

    $6,142,372

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,288,773

  • 10c · Land, buildings and equipment, net

    beginning of year $2,872,723 · end of year $2,853,599

  • 12 · Investments: other securities

    beginning of year $5,664,121 · end of year $6,231,415

  • 13 · Investments: program-related

    beginning of year $1,295,566 · end of year $1,125,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,151,294 · end of year $1,073,869

  • 19 · Deferred revenue

    beginning of year $188,617 · end of year $238,502

  • 23 · Secured mortgages and notes payable

    beginning of year $1,199,625 · end of year $796,244

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,806,818 · end of year $9,099,088

Mission and programs · 2024

Mission

To benefit The University of Akron through administration of certain research activities and management of intellectual property. Promote economic development in Northeast Ohio by licensing technologies to start up companies.

  • Research Support for faculty and students and facilitate experimental testing for the University of Akron.

    Expenses $185,174 · Revenue $274,320

  • To promote, encourage, and provide assistance to research and licensing activities of The University of Akron's faculty, staff, and students.

    Expenses $448,627 · Revenue $710,558

  • Office space rental for start up corporations and other external agencies.

    Expenses $599,245 · Revenue $601,736

  • Other activities

    Expenses $509,536 · Revenue $1,192,144

As filed on the 2024 return.

Listed in Part VII

  • R J Nemer

    Chairman

    Total calculated
    $465,037
    From this org
    $0
    From related orgs
    $403,860
    Other
    $61,177
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $403,860 related
    Bonus
    $0
    Other
    $0 + $7,769 related
    Deferred
    $0 + $38,501 related
    Nontaxable benefits
    $0 + $22,676 related
    Filer's total
    $0 + $472,806 related

  • Suzanne Bausch

    President

    Total calculated
    $289,666
    From this org
    $0
    From related orgs
    $254,903
    Other
    $34,763
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $254,903 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,326 related
    Nontaxable benefits
    $0 + $437 related
    Filer's total
    $0 + $289,666 related

  • Brett Riebau

    Treasurer

    Total calculated
    $148,204
    From this org
    $0
    From related orgs
    $127,095
    Other
    $21,109
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,837 related
    Bonus
    $0
    Other
    $0 + $258 related
    Deferred
    $0 + $18,130 related
    Nontaxable benefits
    $0 + $2,979 related
    Filer's total
    $0 + $148,204 related

  • Kelly Bialek

    Executive Director

    Total calculated
    $123,008
    From this org
    $0
    From related orgs
    $85,050
    Other
    $37,958
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $0 + $84,912 related
    Bonus
    $0
    Other
    $0 + $138 related
    Deferred
    $0 + $12,810 related
    Nontaxable benefits
    $0 + $25,148 related
    Filer's total
    $0 + $123,008 related

  • Dennis Cocco

    Director

    Total calculated
    $0
    Hours/week
    0

  • Robert Cooper

    Director

    Total calculated
    $0
    Hours/week
    0

  • Samuel DeShazior

    Director

    Total calculated
    $0
    Hours/week
    0

  • Joseph Rich

    Director

    Total calculated
    $0
    Hours/week
    0

  • Ilene Shapiro

    Director

    Total calculated
    $0
    Hours/week
    0

  • Christopher Thompson

    Director

    Total calculated
    $0
    Hours/week
    0

  • Thomas Waltermire

    Director

    Total calculated
    $0
    Hours/week
    0

  • Bryan Williams

    Director

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
The University of Akron Research Foundation's Board of Directors approves the compensation of the executive director.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Akron Innovation Campus

    Rental Property · OH · income $601,736 · assets $2,987,722

    Directly controlled by University of Akron

Provenance

Return type
form_990
Tax year
2024
Filed
20 January 2026
IRS schema version
2024v5.0
Source object
202600219349300130

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