Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $394,858

• 1f · All other contributions, gifts and grants

  $16,633,037

• 1g · Noncash contributions included above

  $5,206,813

• 3 · Investment income

  total $7,126,595 · unrelated business -$141,936 · excluded $7,268,531

• 7a · Gross sales of assets other than inventory

  securities $117,604,000

• 7b · Less cost or other basis and sales expenses

  securities $121,303,573

• 7c · Gain or loss

  securities -$3,699,573

• 7d · Net gain or loss

  total -$3,699,573 · excluded -$3,699,573

• 8a · Fundraising events: gross income

  $109,972

• 8a · Fundraising events: contributions included on line 1c

  $394,858

• 8b · Fundraising events: direct expenses

  $267,483

• 8c · Net income from fundraising events

  total -$157,511 · excluded -$157,511

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,844,096 · program services $14,844,096

• 2 · Grants to domestic individuals

  total $669,063 · program services $669,063

• 5 · Compensation of officers, directors and key employees

  total $976,867 · program services $361,441 · management and general $263,754 · fundraising $351,672

• 7 · Other salaries and wages

  total $1,291,758 · program services $461,823 · management and general $353,536 · fundraising $476,399

• 9 · Other employee benefits

  total $417,105 · program services $154,329 · management and general $112,618 · fundraising $150,158

• 10 · Payroll taxes

  total $138,496 · program services $51,244 · management and general $37,393 · fundraising $49,859

• 11b · Fees: legal

  total $25,763 · program services $8,759 · management and general $6,441 · fundraising $10,563

• 11c · Fees: accounting

  total $48,952 · program services $16,644 · management and general $12,238 · fundraising $20,070

• 11f · Fees: investment management

  total $700,997 · management and general $700,997

• 11g · Fees: other

  total $33,390 · program services $11,353 · management and general $8,347 · fundraising $13,690

• 12 · Advertising and promotion

  total $195,996 · program services $28,100 · management and general $19,991 · fundraising $147,905

• 13 · Office expenses

  total $54,451 · program services $19,216 · management and general $15,805 · fundraising $19,430

• 16 · Occupancy

  total $66,023 · program services $24,052 · management and general $17,934 · fundraising $24,037

• 17 · Travel

  total $12,725 · program services $4,636 · management and general $3,456 · fundraising $4,633

• 19 · Conferences, conventions and meetings

  total $23,585 · program services $8,592 · management and general $6,406 · fundraising $8,587

• 22 · Depreciation, depletion and amortization

  total $176,704 · program services $60,000 · management and general $44,738 · fundraising $71,966

• 23 · Insurance

  total $53,856 · program services $18,287 · management and general $13,635 · fundraising $21,934

• 24a · Other expenses: EQUIP.RENTAL&MAINT.

  total $168,192 · program services $61,272 · management and general $45,686 · fundraising $61,234

• 24b · Other expenses: RESEARCH&SPECIAL PROJ.

  total $114,650 · program services $0 · management and general $0 · fundraising $114,650

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $36,251 · program services $12,086 · management and general $9,011 · fundraising $15,154

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $207,459 · end of year $136,059

• 2 · Savings and temporary cash investments

  beginning of year $10,773,640 · end of year $15,212,504

• 3 · Pledges and grants receivable

  beginning of year $58,815 · end of year $163,000

• 7 · Other notes and loans receivable

  beginning of year $87,357 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $135,702 · end of year $119,808

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

  $4,686,054

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

  $1,202,454

• 10c · Land, buildings and equipment, net

  beginning of year $3,622,791 · end of year $3,483,600

• 11 · Investments: publicly traded securities

  beginning of year $221,673,242 · end of year $214,088,225

• 12 · Investments: other securities

  beginning of year $27,579,793 · end of year $34,463,461

• 15 · Other assets

  beginning of year $33,003,760 · end of year $37,790,850

• 17 · Accounts payable and accrued expenses

  beginning of year $1,183,528 · end of year $1,199,967

• 18 · Grants payable

  beginning of year $285,250 · end of year $395,255

• 25 · Other liabilities

  beginning of year $35,838,887 · end of year $37,346,080

• 27 · Net assets without donor restrictions

  beginning of year $143,965,894 · end of year $254,375,205

• 28 · Net assets with donor restrictions

  beginning of year $115,869,000 · end of year $12,141,000

The filer's explanations (Part III)

PART I, LINE 1B

AKRON COMMUNITY FOUNDATION MAINTAINS A CORPORATE SOCIAL MEMBERSHIP AT PORTAGE COUNTRY CLUB (CLUB) IN THE PRESIDENT'S NAME FOR MEETINGS WITH CURRENT AND PROSPECTIVE DONORS. IN ADDITION, ACF MAINTAINS A MEMBERSHIP AT TURKEYFOOT ISLAND CLUB. ALL CLUB EXPENSES ARE SUBSTANTIATED PRIOR TO PAYMENT. IN THE RARE INSTANCE WHEN SUCH EXPENSES ARE DEEMED PERSONAL OR NOT RELATED TO FOUNDATION BUSINESS, REIMBURSEMNET BY THE PRESIDENT IS REQUIRED PRIOR TO PAYMENT OF THE CLUB INVOICE.

PART I, LINE 4B

THE ORGANIZATION MADE A DISCRETIONARY EMPLOYER CONTRIBUTION TO THE 457(F) PLAN OF $72,475 FOR PRESIDENT JOHN T. PETURES, JR.

Disregarded entities

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

• ACF PROPERTIES LLC

  OWN AND HOLD REAL ESTATE AS INVESTMENT, OTHER ACTIVIES PERMITTED BY LAW · OH · income $138,021 · assets $250,612

  Directly controlled by AKRON COMMUNITY FOUNDATION

• AKRON DIGITAL MEDIA CENTERAKRONISTCOM LLC

  IMPROVE DELIVERY OF INFORMATION IN THE COMMUNITY · OH · income $1,304 · assets $7,835

  Directly controlled by AKRON COMMUNITY FOUNDATION