Akron Regional Development Board Educational Fund

Tax-deductible

Akron, OH501(c)(3)EIN 34-1202413

Promote business & education in the akron area

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $347K a year · 47% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
52 mo
of spending, in cash
Looks good: 52.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $95K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$113K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+150% vs prior year
Spent
$430K
To programs
98%
Net assets
$2.8M
By yearFY2020–FY2024
Revenue
$1.8M
FY2024▲ +150%
Revenue by fiscal year
FY2020$615K
FY2021$389K
FY2022$254K
FY2023$700K
FY2024$1.8M
Expenses
$430K
FY2024▲ +44%
Expenses by fiscal year
FY2020$555K
FY2021$371K
FY2022$322K
FY2023$298K
FY2024$430K
Net assets
$2.8M
FY2024▲ +93%
Net assets by fiscal year
FY2020$1.1M
FY2021$1.1M
FY2022$1.0M
FY2023$1.5M
FY2024$2.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1976.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $420K Management & general 2% · $9K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Akron Regional Development Board Educational Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects businesses and educational institutions to foster local growth.

Provided by the organization

This section is blank until Akron Regional Development Board Educational Fund claims this page.

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1 program service account for $420K of program spending, described in the organization's own filed words · FY2024.
01

The greater akron chamber foundation supports charitable and educational initiatives that advance workforce development, economic inclusion, and leadership across the region. Through strategic investments in community programming, educational events, and inclusive partnerships, the foundation helps cultivate a resilient, opportunity-rich…

$420Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$95K
Grants paid · 5 grants · $1.9M · 2020–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.7M
Investment incomeLn 3$45K
Money outPt IX
$430K
Ln 25
Programscol B$420K
Managementcol C$9K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$2.9M
LiabilitiesLn 26$113K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Government grantsLn 1e$25K
Investment incomeLn 3$45K
Gains on assetsLn 7−$2K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$1.9M
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$328K
Total assetsLn 16$2.9M
LiabilitiesLn 26$113K
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$800K$1.9M
InvestmentsLn 11–13$300K$328K
Total assetsLn 16$1.5M$2.9M
LiabilitiesLn 26$25K$113K
Net assetsLn 32$1.5M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$420K$420K
Accounting feesLn 11c$2K$2K
Investment management feesLn 11f$4K$4K
Office expensesLn 13$100$100
InsuranceLn 23$3K$3K
Total functional expensesLn 25$430K$420K$9K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.8M$430K$1.3M$2.8M 990 PDF
FY2023 $700K$298K$402K$1.5M 990 PDF
FY2022 $254K$322K−$68K$1.0M 990 PDF
FY2021 $389K$371K$18K$1.1M 990 PDF
FY2020 $615K$555K$60K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,752,132 across 6 lines filed
VIII-1e Government grants$25,000
VIII-1f All other contributions, gifts and grants$1,682,072
VIII-1h Total contributions, gifts and grants$1,707,072
VIII-3 Investment incomeExcluded from tax $47,366$47,366
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,306−$2,306
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $45,060$1,752,132
Part IX · Statement of functional expenses $429,529 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $420,253$420,253
IX-11c Accounting feesManagement $2,494$2,494
IX-11f Investment management feesManagement $4,001$4,001
IX-13 Office expensesManagement $100$100
IX-23 InsuranceManagement $2,681$2,681
IX-25 Total functional expensesPrograms $420,253 · Management $9,276 · Fundraising $0$429,529
Part X · Balance sheet $2,919,355 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $800,047$1,861,427
X-4 Accounts receivableStart of year $381,800$730,000
X-11 Publicly traded securitiesStart of year $300,446$327,928
X-16 Total assetsStart of year $1,482,293$2,919,355
X-17 Accounts payable and accrued expensesStart of year $25,003$112,784
X-26 Total liabilitiesStart of year $25,003$112,784
X-27 Net assets without donor restrictionsStart of year $169,015$287,547
X-28 Net assets with donor restrictionsStart of year $1,288,275$2,519,024
X-32 Total net assets or fund balancesStart of year $1,457,290$2,806,571
X-33 Total liabilities and net assetsStart of year $1,482,293$2,919,355
Part XI · Reconciliation of net assets $2,806,571 net assets at year end
XI-1 Total revenue$1,752,132
XI-2 Total expenses$429,529
XI-3 Revenue less expenses$1,322,603
XI-4 Net assets at start of year$1,457,290
XI-5 Net unrealized gains (losses) on investments$26,678
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,806,571

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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