2026-04-30T07:38:24-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 4334 MUNSON STREET SUITE 200 CANTON OH 44718 990 2024-07-01 346575496 THE UNIVERSITY OF AKRON FOUNDATION UNIV 3309725088 302 BUCHTEL COMMON AKRON OH 443256220 BARRY JUST ASSISTANT TREASURER 3309725088 2026-04-27 1 1 JENNIFER COLEMAN P00743188 3304972000 2026-04-27 2024 2025-03-06 01:10:19Z KIMBERLY COLE 302 BUCHTEL COMMON AKRON OH 443256220 42931380 0 X WWW.UAKRON.EDU/TREASURER/UAF.DOT X 1966 OH UAF EXISTS TO STRENGTHEN UA'S FUTURE BY SECURING/MANAGING PHILANTHROPIC GIFTS THAT BENEFIT UA. 37 37 0 785 -182589 0 18610427 18572532 0 0 7749973 16016845 0 0 26360400 34589377 18921858 15850177 0 0 0 0 0 0 928852 5921536 7629877 24843394 23480054 1517006 11109323 277324523 313781272 9353031 8849417 267971492 304931855 X THE UNIVERSITY OF AKRON FOUNDATION EXISTS TO STRENGTHEN THE UNIVERSITY'S FUTURE BY SECURING AND MANAGING PHILANTHROPIC GIFTS THAT FUND SCHOLARSHIPS, ACADEMIC PROGRAMS, AND CAMPUS IMPROVEMENTS. 0 0 4656723 4656723 A CORNERSTONE OF THE UNIVERSITY OF AKRON FOUNDATION'S MISSION IS THE DEDICATED STEWARDSHIP OF DONOR-ESTABLISHED ENDOWMENTS. BY CAREFULLY HONORING THE PHILANTHROPIC INTENT OF OUR DONORS, THE FOUNDATION PLAYS A PIVOTAL ROLE IN EXPANDING STUDENT ACCESS THROUGH VITAL FINANCIAL AID. IN THE FISCAL YEAR ENDING JUNE 30, 2025, THIS COMMITMENT TRANSLATED INTO SUPPORT FOR APPROXIMATELY 1,000 SCHOLARSHIP ACCOUNTS ACROSS THE UNIVERSITY, ENSURING THAT DONOR LEGACIES CONTINUE TO EMPOWER THE NEXT GENERATION OF STUDENTS. 4407178 4407178 ACADEMIC/ADMINISTRATIVE SUPPORT:: THE UNIVERSITY OF AKRON FOUNDATION PROVIDES MANY OPPORTUNITIES FOR STUDENTS AND FACULTY TO GROW AND EXCEL THROUGH ACADEMIC SUPPORT. DURING THE FISCAL YEAR ENDED JUNE 30, 2025, THE FOUNDATION HELPED FUND APPROXIMATELY 100 COLLEGE AND DEPARTMENT ACCOUNTS, 14 ACADEMIC CHAIR ACCOUNTS, 19 LECTURESHIP ACCOUNTS, 30 FELLOWSHIP ACCOUNTS, 12 INTERNSHIP ACCOUNTS, 10 PROFESSORSHIP ACCOUNTS, 8 CENTER ACCOUNTS, AND 4 INSTITUTE ACCOUNTS. 4342589 4342589 PHYSICAL IMPROVEMENTS AND OPERATIONAL SUPPORT: THE UNIVERSITY OF AKRON FOUNDATION CONTINUES TO SUPPORT THE UNIVERSITY OF AKRON CAMPUS ENHANCEMENTS BY FUNDING OR HELPING TO FUND PHYSICAL IMPROVEMENTS. IN 2024-25, THE SPENDING FOR THE THREE LARGEST FACILITY IMPROVEMENTS WERE THE FOLLOWING:1) $1,555,361 POLSKY BUILDING RENOVATION2) $392,0527 HOWER HOUSE OPERATIONS3) $147,500 ATHLETICS TRACK RENOVATION 2443687 2443687 AUXILIARY PROGRAMS: THE UNIVERSITY OF AKRON FOUNDATION PROVIDED DONOR-DESIGNATED FINANCIAL ASSISTANCE FOR A BROAD RANGE OF UNIVERSITY FUNCTIONS AND FACILITIES. SOME OF THESE INCLUDED INTERNSHIPS, LECTURESHIPS, AND FACILITY MAINTENANCE ITEMS. 2443687 2443687 15850177 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 37 37 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 OH X BARRY JUST 3309725088 302 BUCHTEL COMMON AKRON OH 44325 X PHILIP A LLOYD DIRECTOR AND CHAIR 1.40 0.00 X X 0 0 0 PAMELA S WILLIAMS DIRECTOR AND VICE CHAIR 0.90 0.00 X X 0 0 0 KATHRYN W DINDO DIRECTOR AND VICE CHAIR 0.90 0.00 X X 0 0 0 IRVIN J MUSSON SECRETARY 1.00 0.00 X X 0 0 0 JOHN R ADAMS DIRECTOR 0.30 0.00 X 0 0 0 LEWIS W ADKINS DIRECTOR 0.10 0.00 X 0 0 0 ANTHONY J ALEXANDER DIRECTOR 0.30 0.00 X 0 0 0 LARRY W ALLEN DIRECTOR 0.10 0.00 X 0 0 0 ROLAND H BAUER DIRECTOR 0.10 0.00 X 0 0 0 FRANK P BEVILACQUA DIRECTOR 0.20 0.00 X 0 0 0 CHRISTOPHER J BURNHAM DIRECTOR 0.10 0.00 X 0 0 0 KEITH A CLINE DIRECTOR 0.20 0.00 X 0 0 0 STEVEN S COX DIRECTOR 0.20 0.00 X 0 0 0 MICHAEL D CROME DIRECTOR 0.20 0.00 X 0 0 0 SAMUEL D DESHAZIOR DIRECTOR 0.20 0.00 X 0 0 0 DURIYA A DHINOJWALA DIRECTOR 0.10 0.00 X 0 0 0 CARINA S DIAMOND DIRECTOR 0.30 0.00 X 0 0 0 LAURA DUDA DIRECTOR 0.20 0.00 X 0 0 0 NAOMI D GANOE DIRECTOR 0.10 0.00 X 0 0 0 JOSEPH M GINGO DIRECTOR 0.50 0.00 X 0 0 0 CHRISTOPHER V GOFF DIRECTOR 0.10 0.00 X 0 0 0 DAVID M GRUBB DIRECTOR 0.20 0.00 X 0 0 0 HALLE G JONES CAPERS DIRECTOR 0.10 0.00 X 0 0 0 BRIAN C LAYMAN DIRECTOR 0.40 0.00 X 0 0 0 RAYMOND K LEE DIRECTOR 0.20 0.00 X 0 0 0 RAJKUMAR MAKAM DIRECTOR 0.20 0.00 X 0 0 0 JAMES D MCCOOL DIRECTOR 0.30 0.00 X 0 0 0 JENIFER MEADE DIRECTOR 0.20 0.00 X 0 0 0 THEODORA MUSSON DIRECTOR 0.20 0.00 X 0 0 0 SANDRA PIANALTO DIRECTOR 0.20 0.00 X 0 0 0 JOSEPH E REECE DIRECTOR 0.30 0.00 X 0 0 0 WILLIAM H SKEELES DIRECTOR 0.20 0.00 X 0 0 0 REBECCA SLAYMAN-GALLAGHER DIRECTOR 0.20 0.00 X 0 0 0 GLEN L STEPHENS DIRECTOR 0.10 0.00 X 0 0 0 CHRISTOPHER T TEODOSIO DIRECTOR 0.20 0.00 X 0 0 0 MARLENE K TOOT DIRECTOR 0.30 0.00 X 0 0 0 ERNEST VARGO II DIRECTOR 0.10 0.00 X 0 0 0 MISTY VILLERS EX-OFFICIO DIRECTOR 0.40 39.60 X 0 167807 57159 JOHN WIENCEK EX-OFFICIO DIRECTOR - LEFT MAY 2025 0.40 39.60 X 0 351214 77886 RJ NEMER EX-OFFICIO DIRECTOR 0.40 39.60 X 0 411629 61177 GWYNETH PRICE EX-OFFICIO DIRECTOR 0.40 39.60 X 0 0 0 KIMBERLY M COLE EXECUTIVE DIRECTOR 39.00 1.00 X 0 181510 48489 BARRY JUST ASSISTANT TREASURER 39.00 1.00 X 0 105258 15000 0 1217418 259711 6 0 1 0 0 62231 18510301 7135055 18572532 5546423 -182589 5729012 18812425 8342003 10470422 10470422 10470422 34589377 0 -182589 16199434 15850177 15850177 1313000 795047 517953 9289 9289 37853 37853 4432034 4432034 290642 290642 6550 5503 1047 172525 144955 27570 57872 57872 14733 14733 PAYMENTS TO ANNUITANTS 765718 765718 PUBLIC RELATIONS & TRAV 472123 89841 382282 MISCELLANEOUS EXPENSES 57538 57538 23480054 15850177 6701025 928852 6074570 2138361 8042254 20267812 12563598 11110735 640640 1913318 2203263 1630000 1332423 1332423 1332423 98940648 84831969 147180099 190210664 347028 345990 277324523 313781272 613622 76916 28500 28500 5000 5000 8705909 8739001 9353031 8849417 X 11763677 16941906 256207815 287989949 267971492 304931855 277324523 313781272 11109323 25851040 0 X X 0 1 X 0 0 X 12964699 17369913 9849379 18610427 18572531 77366949 12964699 17369913 9849379 18610427 18572531 77366949 9392160 67974789 3301044 2663221 1506990 2577266 5684999 15733520 32797 -37592 -67685 -138576 -211056 92889413 0.73180 0.76450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 220109809 11268106 36600775 3662387 4491489 4021172 255803642 195940613 8584056 25855348 3539774 3737417 2993017 220109809 182011068 6549336 16769097 3148249 3525427 2715212 195940613 193044771 7961689 -10892762 2358946 2584250 3159434 182011068 151414946 6011652 43439991 2736582 2884739 2200497 193044771 0.03700 0.04200 0.92100 0 1 1 1332423 1332423 1332423 INTEREST IN UA FOUNDATION FUND LP 190210664 C 190210664 ACTUARIAL LIABILITY FOR UNITRUST/AN 8739001 8739001 55242664 25851040 25851040 29391624 4432034 765719 5197753 34589377 18282301 0 18282301 4432034 765719 5197753 23480054 PART IV, LINE 2B: THE BALANCE ON FORM 990, PART X, LINE 21 REPRESENTS THE LIABILITY BALANCE THE FOUNDATION HOLDS RELATING TO A FISCAL AGENCY AGREEMENT. THE BALANCE IS MADE UP OF A DEPOSIT FROM ONE NOT-FOR-PROFIT ORGANIZATION. THE $5,000 REPRESENTS A DEPOSIT FROM AMERICAN LEGION POST 808. POST 808 MANAGES ALL DEPOSITS AND WITHDRAWALS IN THEIR RESTRICTED ACCOUNT. PART V, LINE 4: DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE USED AS DONORS HAVE STIPULATED OR AS THE FOUNDATION BOARD HAS DESIGNATED. THIS INCLUDES, BUT IS NOT LIMITED TO SCHOLARSHIPS, FELLOWSHIPS, LECTURESHIPS, INTERNSHIPS, ACADEMIC CHAIRS, PROFESSORSHIPS, ASSISTANCE TO THE UNIVERSITY OF AKRON COLLEGES AND DEPARTMENTS, CAPITAL IMPROVEMENTS, AS WELL AS SUPPORT OF THE ATHLETIC PROGRAM, THE PERFORMING ARTS HALL, AND HOWER HOUSE. PART XI, LINE 4B - OTHER ADJUSTMENTS: PAYMENTS TO ANNUITANTS 765,719. PART XII, LINE 4B - OTHER ADJUSTMENTS: PAYMENTS TO ANNUITANTS 765,719. 1 THE UNIVERSITY OF AKRON 302 BUCHTEL COMMON AKRON OH 44325 346002924 501(C)(3) 15850177 0 SEE PART IV 1 0 PART I, LINE 2: UA IS THE SOLE BENEFICIARY OF ASSISTANCE FROM UAF. THE RESTRICTIONS DONORS PLACE ON THEIR CONTRIBUTIONS DETERMINE HOW FUNDS CAN BE USED FOR OR ON BEHALF OF UA. UAF REQUIRES THAT A UA RESTRICTED ACCOUNT BE SET UP FOR EACH DONOR RESTRICTION. THE CONTROLLER'S OFFICE AND RESPECTIVE DEPARTMENTS AT UA ARE SUPPLIED WITH COPIES OF THE DONOR AGREEMENT WHICH LISTS ANY RESTRICTIONS. THE UA ACCOUNT NUMBER IS AN ATTRIBUTE OF THE UAF ACCOUNT WITHIN UAF'S GENERAL LEDGER SYSTEM AND UAF'S ACCOUNT IS ALSO AN ATTRIBUTE OF THE UA ACCOUNT WITHIN UA'S ACCOUNTING DATABASE. THESE CORRESPONDING ATTRIBUTES ARE USED TO TRACK THAT THE FUNDS TRANSFERRED BY UAF ARE DEPOSITED INTO THE APPROPRIATE UA ACCOUNTS. THE EMPLOYEES IN THE CONTROLLER'S OFFICE USE THE DONOR AGREEMENTS TO CONFIRM EXPENDITURES MEET ANY DONOR RESTRICTIONS. PART II, LINE 1H THE UNIVERSITY OF AKRON FOUNDATION'S PURPOSE IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF UA. THE FUNDS TRANSFERRED TO UA ARE TO BE USED FOR MANY PURPOSES INCLUDING, BUT NOT LIMITED TO, SCHOLARSHIPS, FELLOWSHIPS, LECTURESHIPS, INTERNSHIPS, ACADEMIC CHAIRS, PROFESSORSHIPS, ASSISTANCE TO UA COLLEGES AND DEPARTMENTS, CAPITAL IMPROVEMENTS, AS WELL AS SUPPORT OF THE ATHLETIC PROGRAM, THE PERFORMING ARTS HALL, AND HOWER HOUSE. 1 0 1 0 0 0 0 0 0 0 RJ NEMER EX-OFFICIO DIRECTOR 0 403860 0 0 0 7769 0 38501 0 22676 0 472806 0 0 JOHN WIENCEK EX-OFFICIO DIRECTOR - LEFT MAY 2025 0 351214 0 0 0 0 0 45862 0 32024 0 429100 0 0 KIMBERLY M COLE EXECUTIVE DIRECTOR 0 177027 0 0 0 4483 0 25418 0 23071 0 229999 0 0 MISTY VILLERS EX-OFFICIO DIRECTOR 0 165929 0 0 0 1878 0 24264 0 32895 0 224966 0 0 PART I, LINE 4B IN CALENDAR YEAR 2024, GARY MILLER CONTRIBUTED $ $30,500, JOHN WINCEK CONTRIBUTED $ $30,500 TO THE UNIVERSITY OF AKRON'S 457(B) PLAN. NO DISTRIBUTIONS WERE MADE FROM THE UNIVERSITY OF AKRON'S 457(B) PLAN DURING CALENDAR YEAR 2024. PART I, LINE 2 THE FOUNDATION DID NOT PROVIDE ANY OF THE ITEMS LISTED IN 1A TO OR FOR A PERSON LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. HOWEVER, IF THERE WERE SUCH EXPENSES, THE FOUNDATION'S POLICIES AND PROCEDURES MANUAL REQUIRES SUBSTANTIATION PRIOR TO ANY DISBURSEMENTS. PART I, LINE 3 THE FOUNDATION DOES NOT PROVIDE NOR FUND ANY DIRECT OR INDIRECT COMPENSATION OR BENEFITS TO ITS EXECUTIVE DIRECTOR OR ANY OTHER OFFICER OR DIRECTOR. X 74 7135055 PUBLICLY TRADED MKT INFO 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE FOUNDATION, BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, HAS ALL THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE FOUNDATION, EXCEPT AS SUCH AUTHORITY IS LIMITED BY STATUTE OR RESOLUTION OF THE BOARD OF DIRECTORS. ACCORDING TO THE FOUNDATION'S CODE OF REGULATIONS, THE BOARD OF DIRECTORS SHALL APPOINT AN EXECUTIVE COMMITTEE CONSISTING OF THE PRESIDENT OF THE UNIVERSITY OF AKRON (UA), THE SENIOR DEVELOPMENT OFFICER OF UA, THE CHIEF ACADEMIC OFFICER OF UA, THE CHIEF FINANCIAL OFFICER OF UA, THE PRESIDENT, VICE PRESIDENT, SECRETARY, TREASURER, ASSISTANT TREASURER, AND EXECUTIVE DIRECTOR OF THE FOUNDATION, AND NOT LESS THAN TWO OTHER VOTING DIRECTORS WHO ARE MEMBERS OF THE COMMUNITY AT LARGE, AND WHO ARE NOT FULL-TIME EMPLOYEES OF UA OR ITS GOVERNING BOARD. DURING THE FISCAL YEAR ENDED JUNE 30, 2025, ALL MEMBERS OF THE EXECUTIVE COMMITTEE WERE VOTING MEMBERS EXCEPT FOR THE EXECUTIVE DIRECTOR AND TREASURER OF THE FOUNDATION, WHO ARE NON-VOTING MEMBERS. EACH VOTING MEMBER OF THE EXECUTIVE COMMITTEE IS ALSO A VOTING MEMBER OF THE FOUNDATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING FAMILY RELATIONSHIPS AMONG THE BOARD OF DIRECTORS EXIST: IRVIN MUSSON, SECRETARY, IS THE HUSBAND OF THEODORA MUSSON, DIRECTOR. FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF THE FORM 990 IS SENT TO THE FOUNDATION'S EXECUTIVE COMMITTEE IN ELECTRONIC FORM. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE DIRECTORS AND OFFICERS OF THE FOUNDATION COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE QUESTIONNAIRE IS DESIGNED TO BRING TO LIGHT ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THE EXECUTIVE DIRECTOR OF THE FOUNDATION REVIEWS THE QUESTIONNAIRES AND IS CHARGED WITH INFORMING THE BOARD OF POTENTIAL CONFLICTS. BOARD MEMBERS RECUSE THEMSELVES FROM VOTING WHEN THEY HAVE A CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION UPON WRITTEN REQUEST. FORM 990, PART VI, SECTION B, LINE 13: THE FOUNDATION HAS NO EMPLOYEES, THUS ELIMINATING THE NEED FOR A WHISTLE-BLOWER POLICY. FORM 990, PART VI, SECTION B, LINE 14: THE FOUNDATION'S RECORDS ARE MAINTAINED BY EMPLOYEES OF THE UNIVERSITY OF AKRON WHO FOLLOW THE UNIVERSITY'S DOCUMENT RETENTION AND DESTRUCTION POLICY. FORM 990, PART VI, SECTION B, LINE 15: THE UNIVERSITY OF AKRON FOUNDATION DOES NOT DIRECTLY EMPLOY PERSONNEL. INDIVIDUALS SERVING IN EXECUTIVE AND MANAGEMENT ROLES FOR THE FOUNDATION ARE EMPLOYEES OF THE UNIVERSITY OF AKRON. COMPENSATION FOR THESE INDIVIDUALS IS ESTABLISHED AND ADMINISTERED BY THE UNIVERSITY OF AKRON IN ACCORDANCE WITH ITS COMPENSATION POLICIES AND GOVERNANCE PROCESSES. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR SERVICES PROVIDED BY SUCH PERSONNEL PURSUANT TO ESTABLISHED AGREEMENTS. THE FOUNDATION'S BOARD OF DIRECTORS PROVIDES OVERSIGHT WITH RESPECT TO THESE ARRANGEMENTS TO ENSURE THEY ARE REASONABLE AND CONSISTENT WITH THE FOUNDATION'S MISSION AND OPERATIONS. FORM 990, PART VII, SECTION A, LINE 3: THE TERM FOR OFFICERS AND DIRECTORS FOR THE UNIVERSITY OF AKRON FOUNDATION RUNS FROM OCTOBER 1 TO SEPTEMBER 30. FORM 990, PART XII, LINE 2C: THE FOUNDATION DOES NOT HAVE A SEPARATE COMMITTEE FOR AUDIT OVERSIGHT. HOWEVER, AUDIT RESULTS ARE REVIEWED WITH THE FOUNDATION'S BOARD OF DIRECTORS. ADDITIONALLY, SINCE IT IS A COMPONENT UNIT OF THE UNIVERSITY OF AKRON, THE UNIVERSITY'S BOARD OF TRUSTEES AND AUDIT COMMITTEE PARTICIPATE IN THE FOUNDATION'S FINANCIAL STATEMENT AUDIT. THE FOUNDATION'S INDEPENDENT AUDITOR IS SELECTED IN CONJUNCTION WITH THE UNIVERSITY OF AKRON, WHICH IS THROUGH THE OHIO AUDITOR OF STATE'S BID PROCESS. THE UNIVERSITY OF AKRON 302 BUCHTEL COMMON AKRON OH 44325 346002924 HIGHER EDUCATION OH 501(C)(3) LINE 5 N/A 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1