Select an option to learn more about how we can help.


Private Foundation

Wealth Manager





Managers and Investment Relationships

We invest your money with managers that have a proven history of excellent results.

Selection and performance

Investment consultants from Legacy Strategic Asset Management help the community foundation identify managers with outstanding track records in each asset class. Legacy also evaluates the chosen managers on an ongoing basis to ensure they are investing in accordance with the community foundation’s investment policy and meeting its goals and objectives for that asset class. Managers may be dismissed for poor performance or failing to adhere to the community foundation’s policies geared toward long-term growth.

Smart Giving Now

Akron Community Foundation can accept a variety of assets to open your fund or endowment, and the best donation isn’t always cash.

A surprise to many people, cash is not always the best gift. Gifts of appreciated stock, for example, may give you both a larger dollar-for-dollar charitable deduction and an exemption from capital gains taxes on the appreciation.

Akron Community Foundation can accept the following forms of charitable gifts:


Cash gifts may be deducted for income tax purposes up to 60 percent of adjusted gross income. Contributions over that limit can be carried forward for up to five subsequent years.

Publicly traded securities

You receive a double benefit if the stock has appreciated: an immediate charitable deduction for the fair market value of the securities donated and exemption from any capital gains tax on the appreciation. The fair market value of contributed securities can be deducted up to 30 percent of the donor's adjusted gross income.

In addition, if the deduction amount is larger than the donor can use in one year, the surplus can be carried as a charitable deduction over the next five years. See how we make transferring stock easy.

Mutual fund shares

Like gifts of publicly traded securities, gifts of mutual fund shares are deductible up to the full fair market value. The effective date of the gift and possibly the year for which the deduction is available is determined by the date the irrevocable transfer of mutual funds is completed.

To obtain the community foundation's most current mutual fund transfer instructions, please contact Steve Schloenbach, vice president and chief financial officer, or Dennis Jansky, director of accounting and administration.

Closely held stock

The contributed value per share must be discounted from the value per share for a controlling interest, as determined by a qualified independent appraisal. There can be no agreement restricting or requiring the resale of the stock by the charitable recipient. If the company offers to redeem the shares, however, the community foundation can take the proceeds or reinvest them for a better return. The company does not reissue the shares; all shares outstanding increase in value. 

An alternative outcome to redemption by the corporation is the voluntary purchase of shares from the charity by younger family members or key non-family employees.

Life insurance

Many people find that the protection offered by life insurance policies is no longer needed later in life. Thus a life insurance policy can become an ideal tool for charitable giving. 

A few steps need to be taken to donate a life insurance policy. You start by irrevocably assigning your insurance policy to the community foundation and naming it as the sole beneficiary. You can make annual tax-deductible contributions to cover the policy's annual premium.

Or, if the policy is paid up, you will receive an immediate tax deduction in an amount equal to the policy's cash surrender value.

Real estate

Gifts of real estate can include a house, apartment building, farm, vacation home, commercial buildings, and income-producing or non-income producing land. 

A gift of real estate typically requires certain procedural steps prior to acceptance, including a site visit to the property, a qualified appraisal, a preliminary title report and an environmental assessment. Akron Community Foundation has a separate LLC set up specifically to handle these types of gifts for you.

Other property

Some people may wish to leverage their automobile, antiques or jewelry to benefit a charitable cause. Akron Community Foundation can accept these gifts, too. Any item valued at $5,000 or more is subject to IRS guidelines and must be appraised by an impartial party.

When it comes to donor-advised funds, we cannot accept:

  • Gifts of any interest in a business enterprise that would subject the community foundation to tax under Section 4943 of the Internal Revenue Code, as it relates to excess business holdings  
  • Any proposed gift that would result in the donor-advised fund:
    • Holding a 20 percent or greater interest in a business or in an entity
    • Holding any interest in an entity in which any interest is owned by a donor or advisor to the donor-advised fund, by a family member of any such person, or by an entity in which any of the foregoing persons has an interest. They shall be referred to legal counsel for an opinion on the possible application of Section 4943 of the Internal Revenue Code.

Our formal gift acceptance policy is also available.

Need help deciding the best option for you? Talk to your advisor, then contact Margaret Medzie, vice president and chief development officer, or Steve Schloenbach, vice president and chief financial officer, to find out how Akron Community Foundation can help make your giving easy.