Form 990 for tax year 2022
Filed by AKRON REGIONAL DEVELOPMENT BOARD EDUCATIONAL FUND.
Totals
- Total revenue
- $253,916
- Total expenses
- $321,862
- Contributions and grants received
- $250,000
- Grants paid
- $316,102
- Program service revenue
- $0
- Investment income
- $3,916
- Other revenue
- $0
- Total assets, end of year
- $1,142,700
- Total liabilities, end of year
- $122,185
- Net assets or fund balances, end of year
- $1,020,515
- Program services expenses (Part IX)
- $316,102
- Management and general expenses
- $5,760
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $316,102
Program services were 98.2% 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.
-
1f · All other contributions, gifts and grants
$250,000
-
3 · Investment income
total $6,269 · excluded $6,269
-
7b · Less cost or other basis and sales expenses
securities $2,353
-
7c · Gain or loss
securities -$2,353
-
7d · Net gain or loss
total -$2,353 · excluded -$2,353
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $316,102 · program services $316,102
-
11f · Fees: investment management
total $3,489 · management and general $3,489
-
13 · Office expenses
total $142 · management and general $142
-
23 · Insurance
total $1,129 · management and general $1,129
-
24a · Other expenses: MISCELLANEOUS
total $1,000 · management and general $1,000
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $716,903 · end of year $693,002
-
4 · Accounts receivable
beginning of year $222,000 · end of year $180,000
-
11 · Investments: publicly traded securities
beginning of year $315,315 · end of year $269,698
-
17 · Accounts payable and accrued expenses
beginning of year $119,713 · end of year $122,185
-
27 · Net assets without donor restrictions
beginning of year $514,120 · end of year $114,265
-
28 · Net assets with donor restrictions
beginning of year $620,385 · end of year $906,250
Mission and programs · 2022
Mission
PROMOTE BUSINESS & EDUCATION IN THE AKRON AREA
Activities or mission (Part I)
CARRY OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE GREATER AKRON CHAMBER OF COMMERCE.
-
COSTS ASSOCIATED WITH EDUCATION AND MATERIALS CONCERNING WORKFORCE DEVELOPMENT, ECONOMIC INCLUSION AND OTHER PROJECTS IN THE GREATER AKRON AREA.
Expenses $316,102 · Grants $316,102
As filed on the 2022 return.
Listed in Part VII
-
Steve MillardSTEVE MILLARD
PRESIDENT
- Total calculated
- $410,461
- From this org
- $0
- From related orgs
- $365,533
- Other
- $44,928
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $365,533 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $17,990 related
- Nontaxable benefits
- $0 + $26,938 related
- Filer's total
- $0 + $410,461 related
-
Tia RamlowTIA RAMLOW
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Marc MerklinMARC MERKLIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Donzell TaylorDONZELL TAYLOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 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)
- PART I, LINE 1A
- COUNTRY CLUB DUES ARE PROVIDED
- SCHEDULE J, PART II:
- ALL COMPENSATION REPORTED ON SCHEDULE J, AND THROUGHOUT THE FORM 990, IS FROM RELATED ORGANIZATIONS. THE GREATER AKRON CHAMBER FOUNDATION DOES NOT HAVE ANY COMPENSATION OR EMPLOYEE BENEFIT EXPENSES.
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
-
GREATER AKRON CHAMBER OF COMMERCE
$316,102
GENERAL SUPPORT
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.
-
GREATER AKRON CHAMBER OF COMMERCE
501(C)(6) · SUPPORT · OH
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343189349316414
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