# Kent State University

Kent State University is an Endowment / Foundation based in Kent, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Kent, United States
- **Region:** North America
- **Address:** Kent, OH, United States
- **Founded:** 1965
- **Assets under management:** $13M (Altss estimate)
- **Website:** www.kent.edu
- **LinkedIn:** https://www.linkedin.com/company/kent-state-university

## Regulatory record

- **Reports private funds:** No

## About

The Kent State University Foundation was established in 1965 to manage private gifts and endowment assets on behalf of the university. Valoree Vargo serves as CEO and Vice President of Philanthropy and Alumni Engagement, bridging donor relations with investment oversight. The foundation's board chair, James M. Bailey, is also a managing director at PNC Institutional Asset Management — a dual role that informs the endowment's fund-of-funds approach to external manager selection. Investment strategy relies on fund commitments rather than direct company investments, pooling university assets into vehicles managed by third-party institutions. The endowment's directly owned real assets are an unusual complement to that strategy. Holdings include the Kent State University Hotel and Conference Center on Depeyster Street, Crawford Hall — named for major donor and board member Edward F. Crawford who contributed $28M to the business college — and a former university golf course converted to land holdings. The foundation also holds an operating oil well in Kent, Ohio, and a small fleet of general aviation aircraft: a Cessna 172R Skyhawk, Piper PA-28R-201 Arrow, and Cessna 150H. The endowment's total estimated value sits at roughly $13M, a figure that places it among smaller public university portfolios in the Midwest. The foundation does not publicly disclose deployment totals or professional headcount. Students participate in investment management through Golden Flash Asset Management, a student-run portfolio that provides experiential learning alongside the endowment's professional allocations. The foundation is a member of NACUBO, the National Association of College and University Business Officers. The Kent State University Museum collection, housed in Rockwell Hall, represents a distinct cultural asset that includes a dedicated Katharine Hepburn collection and the Tarter/Miller Glass Collection. What distinguishes the foundation structurally is the breadth of its directly owned operating assets relative to its modest endowment. Few university foundations of this size hold a commercial hotel, an oil well, and an aircraft fleet alongside a traditional fund-of-funds allocation.

## Sectors

- Real Estate
- Fund of Funds

## People

- Valoree Vargo — CEO of Kent State University Foundation and VP of Philanthropy and Alumni Engagement
- James M. Bailey — Chair of the Kent State University Foundation Board

## Questions

### Who runs investment decisions at the Kent State University Foundation?

Investment oversight falls under the foundation's board, chaired by James M. Bailey, a managing director at PNC Institutional Asset Management. Day-to-day management is led by CEO Valoree Vargo, who also serves as the university's Vice President of Philanthropy and Alumni Engagement. The foundation does not publicly name a dedicated chief investment officer or internal investment team.

### What direct holdings does the foundation own outside of fund commitments?

The foundation owns the Kent State University Hotel and Conference Center in downtown Kent, Ohio, Crawford Hall on campus, and a former university golf course now held as land. It also holds an operating oil well and a fleet of three general aviation aircraft: a Cessna 172R Skyhawk, Piper PA-28R-201 Arrow, and Cessna 150H.

### How large is the Kent State University endowment?

The endowment is estimated at approximately $13 million (Altss estimate), based on available records. The university does not publicly report a single consolidated endowment figure. The foundation also oversees cultural assets including the Kent State University Museum collection, which houses a dedicated Katharine Hepburn collection, though these are not investment assets.

### What is the relationship between the foundation and the university?

The Kent State University Foundation is a legally separate nonprofit that serves as the primary vehicle for managing private donations and endowment assets for Kent State University. Valoree Vargo's dual role as foundation CEO and university Vice President of Philanthropy and Alumni Engagement ensures tight operational integration between the foundation's investment function and the university's development office.

### Where did the naming gift for Crawford Hall come from?

Edward F. Crawford, an Ohio businessman and namesake of the Ambassador Crawford College of Business and Entrepreneurship, donated $28 million toward the construction of Crawford Hall, which opened in October 2023. Crawford is a known donor to the university but is not a foundation principal.

## Related profiles

- [Hanley Family Foundation](https://altss.com/profile/hanley-family-foundation)
- [Laborers Local 108](https://altss.com/profile/laborers-local-108)

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/kent-state-university

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