Ak Steel Foundation
- Assets
- $14.1m
- Revenue
- $3.1m
- Investments
- $10.6m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 03/1993
- Data as of
- 12/2021
- EIN
- 31-1284344
Organization Overview
Ak Steel Foundation is located in Cleveland, OH. The organization was established in 1993. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. AK Steel Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, AK Steel Foundation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 36.0% each year . All expenses for the organization totaled $6.0m during the year ending 12/2021. While expenses have increased by 30.8% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, AK Steel Foundation has awarded 212 individual grants totaling $7,648,622. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa J Benedict Executive Director | 30 | $0 | |
James D Graham Chairman & Trustee | 1 | $0 | |
Brian K Bishop Trustee | 1 | $0 | |
Denise M Caruso Treasurer | 1 | $0 | |
Maurice D Harapiak Trustee | 1 | $0 | |
Traci L Forrester Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $147,006 |
| Capital Gain Net Income | $147,006 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $678 |
| Total Revenue | $3,147,684 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,009 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,799 |
| Total operating and administrative expenses | $10,808 |
| Contributions, gifts, grants paid | $5,963,390 |
| Total expenses and disbursements | $5,974,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,091,066 |
| Savings and temporary cash investments | $1,354,493 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,311 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,590,889 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,190 |
| Total assets | $14,053,949 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,203,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,203,500 |
Grants Awarded
Over the last fiscal year, Ak Steel Foundation has awarded $6,462,390 in support to 206 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: GENERAL SUPPORT | $1,000,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $700,000 |
Middletown, OH PURPOSE: GENERAL SUPPORT | $502,450 |
Cleveland, OH PURPOSE: GENERAL SUPPORT | $500,000 |
CLEVELAND FOOD BANK PURPOSE: GENERAL SUPPORT | $500,000 |
Merrillville, IN PURPOSE: GENERAL SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |