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We help you do more

Our nearly 70 years of prudent spending and long-term investing makes your charitable gifts go further. Our Finance and Investment Committee and staff protect and grow your investments so you can support your favorite causes and nonprofits for years to come.

For more information about our investment policy, current investment managers or asset allocation, contact Steve Schloenbach, vice president and chief financial officer.

Transparency

Our financial practices uphold the highest possible standards for nonprofits. Review our audited financial statements and Form 990s. You can also review our investment performance.

Investment Policy

Read our investment policy statement to learn how we invest your charitable dollars and maximize the impact of your philanthropy.

Spending Policy

Our board of directors has set a spending rate of 5% annually for permanently endowed funds (based on a rolling average of fund balance over the previous 12 quarters) to sustain these funds in perpetuity.

Investment Managers

We invest your money with managers that have a proven history of excellent results. Our independent investment consultant helps us identify managers with outstanding track records and evaluates them on a regular basis to ensure they are adhering to our investment policy.

Financial Documents

Akron Community Foundation is committed to maintaining financial transparency. We invite you to review our most recent audited financial statements and Form 990s below. The documents are formatted as PDFs. To view them, download a free version of Adobe Acrobat Reader.

The community foundation measures its investment performance against the Policy Index, a benchmark created to mirror the portfolio's targeted asset mix. This benchmark allows us to more accurately measure the performance of individual components prescribed in the foundation’s written investment policy statement and compare the effects of asset allocation changes.

The following are our most recent investment results:

Third Quarter Fiscal Year 2020

Second Quarter Fiscal Year 2020

First Quarter Fiscal Year 2020

Fourth Quarter Fiscal Year 2019

Third Quarter Fiscal Year 2019

Second Quarter Fiscal Year 2019

First Quarter Fiscal Year 2019

Fourth Quarter Fiscal Year 2018

Third Quarter Fiscal Year 2018

Summary Financial Statement

Comparative Statement of Financial Position

ASSETS (in thousands) FY 2019 FY 2018
  April 1, 2018-March 31, 2019 April 1, 2017-March 31, 2018
Cash and cash equivalents $6,269 $6,628
Accrued investment income 234 217
Contributions receivable, net 80 117
Prepaid expenses 118 83
Cash surrender value of life insurance 40 38
Note receivable 710 828
Property and equipment, net 1,410 1,325
Investments 165,691 170,092
Long-term investments 34,420 27,607
Trust accounts 11,186 11,500
Real property held for investment 552 552
Total Assets $220,710 $218,987
LIABILITIES AND NET ASSETS (in thousands) 2019 2018
Liabilities:    
      Grants approved for future payment 1,032 752
      Accounts payable and other liabilities 585 472
      Funds held as agency endowment obligations 25,130 24,870
         Total liabilities 26,747 26,094
Net assets:    
      Without donor restriction 111,474 100,695
      With donor restriction 82,489 92,198
         Total net assets 193,963 192,893
Total Liabilities and Net Assets $220,710 $218,987

Comparative Summary Statement of Activities

REVENUES AND OTHER SUPPORT (in thousands) 2019 2018
Contributions 10,886 14,017
Investment income 5,836 4,890
Net appreciation (depreciation) on investments and trust accounts (1,350) 14,339
Less amounts for agency endowments:    
      Contributions (910) (386)
      Investment income (618) (479)
      Net (appreciation) depreciation in investments 231 (1,756)
Total Revenues and Other Support $14,075 $30,625
EXPENSES (in thousands) 2019 2018
Grants and other distributions 10,858 13,258
Administrative expenses 2,935 2,586
Less amounts for agency endowments:    
      Grants and other distributions (788) (839)
Total Expenses $13,005 $15,005
Increase (decrease) in net assets 1,070 15,620
Net assets, beginning of year 192,893 177,273
Net Assets, End of Year $193,963 $192,893
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