Form 990 for tax year 2023
Filed by KENT STATE UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $21,201,534
- Total expenses
- $30,127,232
- Contributions and grants received
- $17,153,117
- Grants paid
- $26,327,681
- Program service revenue
- $0
- Investment income
- $2,711,824
- Other revenue
- $1,336,593
- Total assets, end of year
- $333,642,018
- Total liabilities, end of year
- $24,551,331
- Net assets or fund balances, end of year
- $309,090,687
- Program services expenses (Part IX)
- $26,327,681
- Management and general expenses
- $3,427,456
- Fundraising expenses
- $372,095
- Program service expenses (Part III)
- $26,327,681
Program services were 87.4% 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
$17,153,117
-
1g · Noncash contributions included above
$894,648
-
3 · Investment income
total $1,726,770 · related or exempt $1,726,770
-
6a · Gross rents
real property $3,432,607
-
6b · Less rental expenses
real property $3,805,474
-
6c · Rental income or loss
real property -$372,867
-
6d · Net rental income or loss
total -$372,867 · related or exempt -$372,867
-
7a · Gross sales of assets other than inventory
securities $44,265,848 · other assets $135,929
-
7b · Less cost or other basis and sales expenses
securities $43,363,710 · other assets $53,013
-
7c · Gain or loss
securities $902,138 · other assets $82,916
-
7d · Net gain or loss
total $985,054 · related or exempt $985,054
-
11a · Other revenue: Miscellaneous
total $1,709,460 · related or exempt $1,709,460
-
11e · Other revenue, total
$1,709,460
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $26,327,681 · program services $26,327,681
-
11b · Fees: legal
total $14,378 · management and general $14,378
-
11c · Fees: accounting
total $44,731 · management and general $44,731
-
11f · Fees: investment management
total $2,058,635 · management and general $2,058,635
-
11g · Fees: other
total $915,664 · management and general $915,664
-
13 · Office expenses
total $4,415 · management and general $4,415
-
16 · Occupancy
total $50 · management and general $50
-
19 · Conferences, conventions and meetings
total $46,433 · management and general $46,433
-
20 · Interest
total $200,666 · management and general $33,912 · fundraising $166,754
-
22 · Depreciation, depletion and amortization
total $247,101 · management and general $41,760 · fundraising $205,341
-
23 · Insurance
total $15,895 · management and general $15,895
-
24a · Other expenses: BANK FEES
total $100,650 · management and general $100,650
-
24b · Other expenses: OTHER PROF FEES
total $119,400 · management and general $119,400
-
24c · Other expenses: PROPERTY TAXES
total $19,944 · management and general $19,944
-
24e · All other expenses
total $11,589 · management and general $11,589
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $12,924,126 · end of year $16,011,337
-
3 · Pledges and grants receivable
beginning of year $36,358,506 · end of year $31,246,610
-
4 · Accounts receivable
beginning of year $81,312 · end of year $135,442
-
9 · Prepaid expenses and deferred charges
beginning of year $164,404 · end of year $319,254
-
10a · Land, buildings and equipment: cost or other basis
$18,621,660
-
10b · Land, buildings and equipment: accumulated depreciation
$2,243,922
-
10c · Land, buildings and equipment, net
beginning of year $16,568,612 · end of year $16,377,738
-
11 · Investments: publicly traded securities
beginning of year $13,555,300 · end of year $15,562,972
-
12 · Investments: other securities
beginning of year $236,150,104 · end of year $253,988,665
-
17 · Accounts payable and accrued expenses
beginning of year $347,534 · end of year $420,748
-
25 · Other liabilities
beginning of year $23,526,763 · end of year $24,130,583
-
27 · Net assets without donor restrictions
beginning of year $22,574,503 · end of year $27,262,004
-
28 · Net assets with donor restrictions
beginning of year $269,353,564 · end of year $281,828,683
Mission and programs · 2023
Mission
THE KENT STATE UNIVERSITY FOUNDATION PROVIDES LEADERSHIP, PRIVATE SECTOR FUNDING AND STEWARDSHIP OF GIFTS TO SUPPORT KENT STATE UNIVERSITY, MEET ITS NEEDS AND ACHIEVE ITS PRIORITES.
-
THE KENT STATE UNIVERSITY FOUNDATION PROVIDED GRANTS TO KENT STATE UNIVERSITY TO FURTHER THE UNIVERSITYS ACADEMIC, RESEARCH, AND PUBLIC SERVICE PROGRAMS.
Expenses $26,327,681 · Grants $26,327,681
As filed on the 2023 return.
Listed in Part VII
-
Robert RossROBERT ROSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rob RismanROB RISMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melody TankersleyMELODY TANKERSLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Diana StrongoskyDIANA STRONGOSKY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott McKinneySCOTT MCKINNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steffany Matticola LarkinsSTEFFANY MATTICOLA LARKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark PolatajkoMARK POLATAJKO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stephen MilkovichSTEPHEN MILKOVICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Daniel WolfeDANIEL WOLFE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Roxia BoykinROXIA BOYKIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Virginia AddicottVIRGINIA ADDICOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pamela BobstPAMELA BOBST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vicki Haywood DoeVICKI HAYWOOD DOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nora JacobsNORA JACOBS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John ElliotJOHN ELLIOT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Valerie Patton GeorgeVALERIE PATTON GEORGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Diane PetrellaDIANE PETRELLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Todd DiaconTODD DIACON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Timothy EippertTIMOTHY EIPPERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Barry FettermanBARRY FETTERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Heather CerboneHEATHER CERBONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Raj AggarwalRAJ AGGARWAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lawrence ArmstrongLAWRENCE ARMSTRONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gary BrahlerGARY BRAHLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard FrenchieRICHARD FRENCHIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dale LeppoDALE LEPPO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Judie Fall LasserJUDIE FALL LASSER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard KrumelRICHARD KRUMEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark LucasMARK LUCAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cathy HemmingCATHY HEMMING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Candice HughesCANDICE HUGHES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jessica VargoJESSICA VARGO
ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
James BaileyJAMES BAILEY
BOARD CHAIR ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Peter HolwayPETER HOLWAY
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Michelle ThomasMICHELLE THOMAS
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Greg InnaGREG INNA
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Valoree VargoVALOREE VARGO
CHIEF EXECUTIVE OFFICER
- Total calculated
- $0
- Hours/week
- 2
-
Gregory LongGREGORY LONG
TREASURER
- Total calculated
- $0
- Hours/week
- 2
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.
Grants on this return
-
$26,327,681
PROGRAM SUPPORT
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.
-
DOWNTOWN KENT HOTEL LLC
HOTEL AND CONFERENCE CENTER · OH · income $3,432,607 · assets $9,943,825
Directly controlled by KENT STATE UNIVERSITY FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510779349300311
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