Civic Intelligence

Akron Development Corporation

EIN 34-1308327 • 501(c)3 • Akron, OH

Profile

The akron development corporation was organized to support economic development initiatives in the city of akron, particularly through the former akron global business accelerator and to secure state of ohio funding for technology-based businesses. (the former akron global business accelerator spun off from the city of akron and is now an independent entity known as the bounce innovation hub, which commenced operations on january 1, 2018.)

166 South High Street 202Akron, OH 44308-1628

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

79th percentile

0.40x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

3.81x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

44th percentile

1.7%

Higher net margin than 44% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

91st percentile

$187,276

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 38.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

19th percentile

-6.9%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

35th percentile

-0.3%

Faster revenue growth than 35% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$4,658,584

Down $181,638 (-3.8%) from 2023

Liabilities

Down

$1,866,000

Down $190,000 (-9.2%) from 2023

Net Assets

Up

$2,792,584

Up $8,362 (+0.3%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin44th percentile

Revenue

Up

$489,718

Up $205,558 (+72%) from 2023

Expenses

Down

$481,356

Down $71,137 (-13%) from 2023

Net Income

Up

$8,362

Up $276,695 (+103%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,845,507Liabilities 2011: $1,142,376Net Assets 2011: $703,1312011Assets 2012: $1,332,427Liabilities 2012: $237,009Net Assets 2012: $1,095,4182012Assets 2020: $6,665,818Liabilities 2020: $190,000Net Assets 2020: $6,475,8182020Assets 2021: $6,249,734Liabilities 2021: $1,470,000Net Assets 2021: $4,779,7342021Assets 2022: $5,370,661Liabilities 2022: $2,298,000Net Assets 2022: $3,072,6612022Assets 2023: $4,840,222Liabilities 2023: $2,056,000Net Assets 2023: $2,784,2222023Assets 2024: $4,658,584Liabilities 2024: $1,866,000Net Assets 2024: $2,792,5842024

Highlighted filing

2024

Assets$4,658,584
Liabilities$1,866,000
Net Assets$2,792,584
Open 2024 Filing

Operations Trend

Revenue Growth35th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,871,9322011Expenses 2012: $1,718,3142012Revenue 2020: $4,056,032Expenses 2020: $4,230,867Net Income 2020: -$174,8352020Revenue 2021: $934,426Expenses 2021: $1,008,495Net Income 2021: -$74,0692021Revenue 2022: $492,572Expenses 2022: $524,420Net Income 2022: -$31,8482022Revenue 2023: $284,160Expenses 2023: $552,493Net Income 2023: -$268,3332023Revenue 2024: $489,718Expenses 2024: $481,356Net Income 2024: $8,3622024

Highlighted filing

2024

Revenue$489,718
Expenses$481,356
Net Income$8,362
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,658,584
Liabilities
$1,866,000
Net assets
$2,792,584
Revenue
$489,718
Expenses
$481,356
Net income
$8,362
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.66$1.87$2.79$0.49$0.48$0.01
2023Detailed filing. Detailed filing data is available for this year.$4.84$2.06$2.78$0.28$0.55$0.27
2022Detailed filing. Detailed filing data is available for this year.$5.37$2.30$3.07$0.49$0.52$0.03
2021Detailed filing. Detailed filing data is available for this year.$6.25$1.47$4.78$0.93$1.01$0.07
2020Detailed filing. Detailed filing data is available for this year.$6.67$0.19$6.48$4.06$4.23$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.33$0.24$1.10$1.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$1.14$0.70$1.87
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$517,029
Mission and Program Overview

Mission

The akron development corporation was organized to support economic development initiatives in the city of akron, particularly through the former akron global business accelerator and to secure state of ohio funding for technology-based businesses. (the former akron global business accelerator spun off from the city of akron and is now an independent entity known as the bounce innovation hub, which commenced operations on january 1, 2018.)

Advances akron's tech economy through state-backed funding and its legacy with the akron global business accelerator.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,229,680$3,866,781▼ $362,899
Rtn Earn Endowment Incm Other Fnds$2,784,222$2,792,584▲ $8,362
Cash and Non-Interest-Bearing Accounts$267,975$443,049▲ $175,074
Investments Other Securities$329,092$338,806▲ $9,714
Savings and Temporary Cash Investments$13,475$9,948▼ $3,527
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,840,222$4,658,584▼ $181,638
Liabilities
Unsecured Notes Loans Payable$2,056,000$1,866,000▼ $190,000
Total Liabilities$2,056,000$1,866,000▼ $190,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,784,222$2,792,584▲ $8,362
Total Liabilities and Net Assets / Fund Balance$4,840,222$4,658,584▼ $181,638

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,709,171$1,741,040$5,450,211
Equipment$55,747$1,305,777$1,361,524
Other Land Buildings$19,764$658,006$677,770
Leasehold Improvements$0$84,864$84,864
Land$82,099-$82,099
Other Securities$346,369--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleOtherTotal
Isaiah YoungTrustee$40,930$40,930

Board Members and Trustees

NameTitle
Jason DodsonPresident
Adele RothTrustee
Sean VollmanTrustee
Suzie Graham-mooreTrustee
Joe DancySecretary
Ken BurnsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$327,981
Program Service Revenue
$203,959
Investment Income
$-21,925
Other Revenue
$-20,297
All Other Contributions
$230,000
Change in Net Assets
$8,362
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$431,679
Grants and Similar Amounts Paid$49,677
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$362,898--$362,898
Interest$62,605--$62,605
Grants to Domestic Orgs$49,677--$49,677
Fees for Services Other$5,000--$5,000
Insurance$777$86-$863
Other Expenses$200--$200
Office Expenses$113--$113
Total Functional Expenses$481,270$86$0$481,356
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of AkronAkron, OHGovPublic Arts Commission and Lock 3$39,008
Keep Akron BeautifulAkron, OH501(c)(3)Great Streets Initiative$6,469
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Two current officers are current employees of the city of akron, the supporting organization.”

Form 990, Part VI, Section A, Line 8B

“Since the secretary is obligated to create minutes after the meeting, it made sense to tape the meetings as they were being conducted.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an outside accounting firm and reviewed by the president of the board prior to filing with the irs.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an outside accounting firm and reviewed by the president of the board prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“Each trustee, officer, and member of a committee with governing board delegated powers shall annually sign a statement affirming that they have received a copy of the conflict of interest policy; have read and understood the policy; have agreed to comply with the policy; understand the organization is charitable; and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. If at any time during the year a conflict of interest arises, the interested person must disclose the existence of the financial interest to the directors and members of the committees with governing board delegated powers. The interested person will then be given the opportunity to disclose all material facts for consideration of the proposed transaction or arrangement. After the disclosure, the governing boardwithout the presence of the interested personshall determine if a conflict of interest exists.”

Form 990, Part VI, Section C, Line 19

“The akron development corporation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Akron Development Corporation
EIN
34-1308327
Phone
3303752133
Address
166 SOUTH HIGH STREET 202, AKRON, OH 44308-1628

Signing Officer

Name
Jason Dodson
Title
President
Phone
3303752133
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Dodson
Formed
1979
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
4334 MUNSON STREET SUITE 200, CANTON, OH 44718
Preparer
Jennifer Coleman
Phone
3304972000
Raw XML AppendixShowing 400 of 509 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE AKRON DEVELOPMENT CORPORATION CHAMPIONS ECONOMIC REVITALIZATION IN THE CITY OF AKRON BY SUPPORTING TECHNOLOGY-DRIVEN ENTERPRISES AND ENTREPRENEURIAL GROWTH. ROOTED IN ITS LEGACY WITH THE AKRON GLOBAL BUSINESS ACCELERATOR, THE CORPORATION HAS PLAYED A PIVOTAL ROLE IN SECURING STATE OF OHIO FINANCING FOR EMERGING BUSINESSES, FOSTERING INNOVATION, AND CULTIVATING A RESILIENT LOCAL ECONOMY. ITS ENDURING IMPACT CONTINUES TO SHAPE AKRON'S FUTURE BY EMPOWERING STARTUPS, CREATING JOBS, AND ADVANCING INCLUSIVE DEVELOPMENT ACROSS THE REGION.
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CITY OF AKRON
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN POLYFLOW, LLC
IRS990ScheduleD/OtherSecuritiesGrp/Desc1INVESTMENT IN AKRON FUSION VENTURES
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GREAT STREETS INITIATIVE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PUBLIC ARTS COMMISSION AND LOCK 3
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0KEEP AKRON BEAUTIFUL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CITY OF AKRON
IRS990ScheduleI/RecipientTable/RecipientEIN0341341298
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0850 EAST MARKET STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1166 S HIGH ST ROOM 202 MUNICIPAL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt0BLDG
IRS990ScheduleI/RecipientTable/USAddress/CityNm0AKRON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1AKRON
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1OH
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0AKRON DEVELOPMENT CORPORATION PROVIDES GRANTS TO THE CITY OF AKRON, A RELATED ORGANIZATION, FOR THE PURPOSE OF CARRYING OUT THE PROGRAMS OF THE CITY. THE ORGANIZATION ALSO PROVIDES GRANTS TO OTHER ENTITIES THAT HAVE THE SAME MISSION AS THE CITY OF AKRON.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SEAN VOLLMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SUZIE GRAHAM-MOORE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1188258
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO CURRENT OFFICERS ARE CURRENT EMPLOYEES OF THE CITY OF AKRON, THE SUPPORTING ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SINCE THE SECRETARY IS OBLIGATED TO CREATE MINUTES AFTER THE MEETING, IT MADE SENSE TO TAPE THE MEETINGS AS THEY WERE BEING CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED BY THE PRESIDENT OF THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED BY THE PRESIDENT OF THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH TRUSTEE, OFFICER, AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; HAVE READ AND UNDERSTOOD THE POLICY; HAVE AGREED TO COMPLY WITH THE POLICY; UNDERSTAND THE ORGANIZATION IS CHARITABLE; AND, IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF AT ANY TIME DURING THE YEAR A CONFLICT OF INTEREST ARISES, THE INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST TO THE DIRECTORS AND MEMBERS OF THE COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS. THE INTERESTED PERSON WILL THEN BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS FOR CONSIDERATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER THE DISCLOSURE, THE GOVERNING BOARDWITHOUT THE PRESENCE OF THE INTERESTED PERSONSHALL DETERMINE IF A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE AKRON DEVELOPMENT CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0AKRON DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0HIGHLAND SQUARE ECONOMIC DEVELOPMENT LLC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RAISE $ TO DEVEL HIGHLAND SQ.
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0249941

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