Kent State University Foundation
- Assets
- $245.9m
- Revenue
- $27.9m
- Investments
- $41.7m
- Employees
- 0
- Location
- Kent, OH
- Founding
- 12/1966
- Data as of
- 06/2019
- EIN
- 34-6576307
Organization Overview
Kent State University Foundation is located in Kent, OH. The organization was established in 1966. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kent State University 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 06/2019, Kent State University Foundation generated $27.9m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $17.8m during the year ending 06/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE KENT STATE UNIVERSITY FOUNDATION PROVIDES LEADERSHIP, PRIVATE SECTOR FUNDING AND STEWARDSHIP OF GIFTS TO SUPPORT KENT STATE UNIVERSITY. MEET ITS NEEDS AND ACHIEVE ITS PRIORITES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KENT STATE UNIVERSITY FOUNDATION PROVIDED GRANTS TO KENT STATE UNIVERSITY TO FURTHER THE UNIVERSITYS ACADEMIC, RESEARCH, AND PUBLIC SERVICE PROGRAMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Long Treasurer | OfficerTrustee | 2 | $0 |
Catherine Hackney Board Secretary | OfficerTrustee | 2 | $0 |
Valoree Vargo Executive Director | OfficerTrustee | 2 | $0 |
Jessica Vargo Assistant Treasurer | OfficerTrustee | 2 | $0 |
John Elliot Board Chair | OfficerTrustee | 2 | $0 |
Peter Holway Board Chair Elect | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,377,758 |
| Investment income | $4,316,363 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,192,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,886,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,149 |
| Fees for services: Accounting | $48,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $717,469 |
| Advertising and promotion | $0 |
| Office expenses | $5,302 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $133 |
| Travel | $1,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,015 |
| Interest | $496,843 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $254,388 |
| Insurance | $13,106 |
| All other expenses | $569 |
| Total functional expenses | $17,776,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,910,082 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $19,117,135 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,061,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $155,320,600 |
| Investments—other securities | $41,650,724 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,413,351 |
| Total assets | $245,939,628 |
| Accounts payable and accrued expenses | $478,794 |
| Grants payable | $0 |
| 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 | $24,582,250 |
| Total liabilities | $25,061,044 |
| Net assets without donor restrictions | $17,655,616 |
| Net assets with donor restrictions | $134,933,050 |
| Capital stock or trust principal, or current funds | $68,289,918 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $220,878,584 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kent State University Foundation has recieved totaling $140,490.
| Awarding Organization | Amount |
|---|---|
Salem Community Foundation Inc Salem, OH PURPOSE: Scholarships and Rural Scholars Program | $139,490 |
William M Weiss Foundation Russell Twp, OH PURPOSE: CHARITABLE | $1,000 |
Endowment Analysis
| Beg. Balance | $138,113,132 |
| Earnings | $47,409,291 |
| Net Contributions | $8,414,836 |
| Grants | $6,154,566 |
| Ending Balance | $187,782,693 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |