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Akron Community Foundation
Akron Community Foundation was established in 1955. Edwin Coupland Shaw provided the originating wealth from the rubber industry. The foundation administers...
Akron Community Foundation
Akron Community Foundation was established in 1955. Edwin Coupland Shaw provided the originating wealth from the rubber industry. The foundation administers multiple named funds that direct grants to Summit County causes. The foundation allocates across public equities, real estate funds and digital asset ETFs. Confirmed holdings include Microsoft common stock, SPDR Gold Trust, Vanguard Real Estate ETF and Citymark Capital Fund I. Geographic exposure centers on the United States with additional commitments to Ohio-based real estate vehicles managed by Citymark Capital and The Townsend Group. Structures include limited partner interests in private real estate funds and direct ETF positions. The organization employs 28 professionals at its Akron headquarters. It maintains relationships with Frontier Capital Management for equity mandates exceeding twenty years and with FEG as investment consultant. Recent activity includes sponsorship of the Bert A. Polsky Humanitarian Award Dinner in October 2025. The foundation operates as a community foundation with multiple donor-advised and field-of-interest funds. Governance separates the core entity from affiliated investment vehicles such as Fortis Capital Management LLC.
General information
Firm type
Endowment / Foundation
Year founded
1955
Location
Region
North America
Country
United States
City
Akron
Corporate office
345 W Cedar St, Akron, Ohio, United States
Principals
John F. Garofalo
President and CEO
Steve Schloenbach
Vice President and Chief Financial Officer
Jim Pickard
Board Chair
Sector focus
Frequently asked questions
Who runs investment decisions at Akron Community Foundation?
John F. Garofalo serves as President and CEO. Michael Boroughs holds the role of President and Chief Investment Officer. Steve Schloenbach serves as Vice President and Chief Financial Officer.
Does Akron Community Foundation participate in fund commitments or only direct deals?
The foundation holds limited partner interests in real estate private equity funds including Citymark Capital Fund I and Townsend Real Estate Alpha Fund III. It also maintains direct ETF positions in equities, gold and real estate.
Where does the underlying wealth come from?
The foundation traces its origins to Edwin Coupland Shaw and the rubber industry. Subsequent assets arrive from families, companies and nonprofits in Summit County.
What investment stages does Akron Community Foundation typically target?
The foundation targets long-term holdings in public equities and closed-end real estate funds. It maintains exposure through ETF vehicles and select private fund commitments.
How is Akron Community Foundation related to Fortis Capital Management LLC?
Fortis Capital Management LLC appears in the record as a related investment manager and parent holding structure under Fortis Holdings LLC. Several private funds are listed under Fortis entities.
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