2025 Kent State University Foundation Financial Report
Fiscal Year 2025
July 1, 2024 – June 30, 2025
Foundation Assets (in millions):
Total Assets Endowed Assets
Foundation Support to Kent State (in millions):
Grants to Kent State University Scholarships Awarded
Financials FY 2024–25
Statement of Financial Position – FY 2025 and FY 2024
Assets
| 2025 | 2024 |
|---|
| Cash and cash equivalents | $17,294,674 | $16,011,337 | | Accounts receivable | 194,859 | 135,442 | | Pledges receivable, net | 28,423,788 | 31,246,610 | | 28,618,647 | 31,382,052 | | Short-term pool | 3,413,650 | 949,536 | | Charitable remainder trusts | 2,841,120 | 2,845,811 | | Long-term pool | 291,271,311 | 260,547,466 | | 297,526,081 | 264,342,813 | | Prepaid expenses and other | 176,458 | 319,254 | | Beneficial interest in trusts held by others | 5,392,645 | 5,208,824 | | Property, net | 16,176,917 | 16,377,738 | | $365,185,422 | $333,642,018 |
Liabilities and Net Assets
| 2025 | 2024 |
|---|
| Accounts payable | $837,165 | $420,748 | | Funds held for others | 14,963,699 | 13,853,781 | | Capital lease liability | 7,673,304 | 7,852,158 | | Charitable remainder trusts | 1,208,383 | 1,178,834 | | Charitable gift annuities | 1,154,495 | 1,245,810 | | 25,837,046 | 24,551,331 | | Net assets without donor restrictions | 34,713,368 | 27,262,004 | | Net assets with donor restrictions | 304,635,008 | 281,828,683 | | 339,348,376 | 309,090,687 | | $365,185,422 | $333,642,018 |
Financials FY 2025
Statement of Activities – Year Ended June 30, 2025
Revenue and Support
| Without Donor Restrictions | With Donor Restrictions | Total |
|---|
| Contributions | $8,807 | $18,582,908 | $18,591,715 | | Contributions – gift in kind | — | 287,204 | 287,204 | | 8,807 | 18,870,112 | 18,878,919 | | Securities | 5,462,152 | 24,897,067 | 30,359,219 | | Investment pool operator fee | 3,067,645 | (3,067,645) | — | | Service fee | — | — | — | | 8,529,797 | 21,829,422 | 30,359,219 | | Sales, services, events and other | 1,319,424 | 91,682 | 1,411,106 | | Hotel and conference center income | 3,296,119 | — | 3,296,119 | | Changes in designation of prior contributions | (189,135) | 189,135 | — | | Change in value of charitable remainder trusts and gift annuities | — | (195,259) | (195,259) | | Net assets released from restrictions | 17,978,767 | (17,978,767) | — | | 30,943,779 | 22,806,325 | 53,750,104 |
Expenses
| Without Donor Restrictions | With Donor Restrictions | Total |
|---|
| Kent State University programs | 16,923,225 | — | 16,923,225 | | Downtown Kent Hotel, LLC | 3,988,734 | — | 3,988,734 | | Management and general | 1,535,257 | — | 1,535,257 | | Fundraising | 1,045,199 | — | 1,045,199 | | 23,492,415 | — | 23,492,415 | | Change in net assets | 7,451,364 | 22,806,325 | 30,257,689 | | Net assets, beginning of year | 27,262,004 | 281,828,683 | 309,090,687 | | Net assets, end of year | $34,713,368 | $304,635,008 | $339,348,376 |
Financials FY 2024
Statement of Activities – Year Ended June 30, 2024
Revenue and Support
| Without Donor Restrictions | With Donor Restrictions | Total |
|---|
| Contributions | $12,735 | $17,140,382 | $17,153,117 | | Contributions – gift in kind | — | 640,744 | 640,744 | | 12,735 | 17,781,126 | 17,793,861 | | Securities | 4,741,192 | 21,540,023 | 26,281,215 | | Investment pool operator fee | 2,434,231 | (2,434,231) | — | | Service fee | 224,312 | — | 224,312 | | 7,399,735 | 19,105,792 | 26,505,527 | | Sales, services, events and other | 1,306,400 | 403,060 | 1,709,460 | | Hotel and conference center income | 3,432,607 | — | 3,432,607 | | Changes in designation of prior contributions | (125,803) | 125,803 | — | | Change in value of charitable remainder trusts and gift annuities | — | 235,980 | 235,980 | | Net assets released from restrictions | 25,176,642 | (25,176,642) | — | | 37,202,316 | 12,475,119 | 49,677,435 |
Expenses
| Without Donor Restrictions | With Donor Restrictions | Total |
|---|
| Kent State University programs | 26,596,261 | — | 26,596,261 | | Downtown Kent Hotel, LLC | 3,805,474 | — | 3,805,474 | | Management and general | 1,368,821 | — | 1,368,821 | | Fundraising | 744,259 | — | 744,259 | | 32,514,815 | — | 32,514,815 | | Change in net assets | 4,687,501 | 12,475,119 | 17,162,620 | | Net assets, beginning of year | 22,574,503 | 269,353,564 | 291,928,067 | | Net assets, end of year | $27,262,004 | $281,828,683 | $309,090,687 |
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