Stark Community Foundation Inc
- Assets
- $372.4m
- Revenue
- $40.8m
- Investments
- $80.9m
- Employees
- 14
- Location
- Canton, OH
- Founding
- 03/1986
- Data as of
- 12/2023
- EIN
- 34-0943665
Organization Overview
Stark Community Foundation Inc is located in Canton, OH. The organization was established in 1986. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Stark Community Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stark Community Foundation Inc 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 12/2023, Stark Community Foundation Inc generated $40.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $27.6m during the year ending 12/2023. While expenses have increased by 12.9% per year over the past 8 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 2014, Stark Community Foundation Inc has awarded 1,970 individual grants totaling $109,554,155. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE PARTNER WITH INDIVIDUALS, FAMILIES, BUSINESSES AND NONPROFITS TO HELP THEM ACHIEVE THEIR CHARITABLE GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARK COMMUNITY FOUNDATION AND OUR GROWING FAMILY OF DONORS SUPPORT A WIDE ARRAY OF LOCAL PROJECTS AND ORGANIZATIONS EACH YEAR, AWARDING OVER $20.5 MILLION IN GRANTS FOR 2023. GENEROUS INDIVIDUALS, FAMILIES, BUSINESSES AND ORGANIZATIONS SUPPORTED PROGRAMS AND SERVICES THAT STRENGTHEN OUR COMMUNITY IN AREAS INCLUDING EDUCATION, ARTS, CULTURE, ECONOMIC DEVELOPMENT, HEALTH AND HUNGER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy A Varian Chair | OfficerTrustee | 1 | $0 |
William R Cook Vice Chair | OfficerTrustee | 1 | $0 |
Brian S Belden Director | Trustee | 1 | $0 |
Nancy S Gessner Director | Trustee | 1 | $0 |
Gregory W Luntz Director | Trustee | 1 | $0 |
Tonja J Marshall Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Colonial Consulting Investment Consultant | 12/30/17 | $176,597 |
Innis Maggiore Advertising Consultant | 12/30/17 | $108,582 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,619,960 |
| Noncash contributions included in lines 1a–1f | $4,580,752 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,647,960 |
| Total Program Service Revenue | $198,931 |
| Investment income | $6,915,729 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,285,085 |
| Net Income from Fundraising Events | -$7,180 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,791,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,835,438 |
| Grants and other assistance to domestic individuals. | $719,449 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $842,615 |
| Compensation of current officers, directors, key employees. | $345,472 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $712,537 |
| Pension plan accruals and contributions | $33,393 |
| Other employee benefits | $60,140 |
| Payroll taxes | $101,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,706 |
| Fees for services: Accounting | $44,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,987,313 |
| Fees for services: Other | $113,745 |
| Advertising and promotion | $160,159 |
| Office expenses | $39,265 |
| Information technology | $92,389 |
| Royalties | $0 |
| Occupancy | $84,968 |
| Travel | $3,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,699 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,981 |
| Insurance | $18,060 |
| All other expenses | $389 |
| Total functional expenses | $27,565,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $786,203 |
| Pledges and grants receivable | $3,722,494 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,728,561 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,103 |
| Net Land, buildings, and equipment | $30,502 |
| Investments—publicly traded securities | $270,991,510 |
| Investments—other securities | $80,927,166 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,186,166 |
| Total assets | $372,413,705 |
| Accounts payable and accrued expenses | $106,656 |
| Grants payable | $1,882,794 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $104,271,403 |
| Total liabilities | $106,260,853 |
| Net assets without donor restrictions | $266,152,852 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $372,413,705 |
Grants Awarded
Over the last fiscal year, Stark Community Foundation Inc has awarded $19,068,660 in support to 252 organizations.
| Grant Recipient | Amount |
|---|---|
A COMMUNITY CHRISTMAS PURPOSE: HUMAN SERVICES | $7,550 |
ACCESS HEALTH STARK COUNTY PURPOSE: HEALTH | $104,278 |
AHEAD INC PURPOSE: HUMAN SERVICES | $32,500 |
ADAPTIVE SPORTS OHIO PURPOSE: HUMAN SERVICES | $28,500 |
AKRON CHILDREN'S HOSPITAL FOUNDATION PURPOSE: HEALTH | $10,000 |
AKRON CIVIC THEATRE PURPOSE: PUBLIC, SOCIETAL BENEFIT | $5,325 |