BUILDING A LEGACY OF BRILLIANCE TOGETHER
KENT STATE UNIVERSITY GENEROSITY REPORT
FISCAL YEAR 2024
IN FISCAL YEAR 2024
(JULY 1, 2023 - JUNE 30, 2024)
• Raised a total $32.9 million with the support of 12,622 donors, including 2,769 first-time donors
• Awarded more than $6.7 million in philanthropic scholarships supporting our outstanding students
• Concluded the Forever Brighter comprehensive campaign having raised $383 million, of which $156 million will support student scholarships and programs
• Raised more than $3.3 million during the 2023 Giving Tuesday campaign
• Celebrated the dedication of two buildings and six named spaces, each a testament to the generosity and impact of philanthropic support
TOGETHER, WE ARE MAKING THE WORLD FOREVER BRIGHTER
Your belief in Kent State University and your generosity are the driving forces behind our success. Because of you, 2024 was a year of extraordinary accomplishments, enabling us to create life-changing opportunities for our students. You are positively impacting their lives, their families and the communities they will go on to serve.
Together, we have made meaningful progress toward our mission to support students from the moment they receive their acceptance letter to the day they receive their degree. Through your partnership, we surpassed our fundraising goal by nearly 10 percent, raising $32.9 from a remarkable 12,622 donors.
We also celebrated the culmination of the Forever Brighter comprehensive fundraising campaign in June 2024. Your commitment helped us exceed our $350 million goal, raising more than $380 million to support student success, critical university initiatives and transformative capital improvements.
From all of us, thank you for empowering our Golden Flashes to pursue their dreams and reach their fullest potential. At Kent State, what sets us apart is how we come together, and we are so appreciative that you are part of our team.
With gratitude,
Valoree Vargo
Vice President, Division of Philanthropy and Alumni Engagement CEO, Kent State University Foundation
Vice President Vargo (bottom right) in Florence, Italy, with global education donors
KENT STATE UNIVERSITY FOUNDATION BOARD OF DIRECTORS
BOARD OFFICERS
Valoree Vargo
CEO
Vice President, Division of Philanthropy and Alumni Engagement Kent State University
Michelle D. Thomas, ’05, Ph.D. Board Chair
President
The James Franklin Group, LLC
James M. Bailey, ’03, MS ’04 Board Chair-elect; Chair, Investments
Senior Vice President, Managing Director PNC Institutional Asset Management
Peter Holway, ’82
Immediate Past Board Chair
Retired, Principal Hirtle, Callaghan & Company
Greg Ina, ’95, MA ’05
Board Secretary
Executive Vice President
The Davey Tree Expert Company
Gregory A. Long, ’ 71
Board Treasurer; Chair, Finance
Retired, Managing Partner
Long, Cook & Samsa, Inc.
Jessica H. Vargo, ’89, MSA ’23, CPA
Assistant Treasurer
Chief Financial Officer
Kent State University Foundation
AT LARGE
MEMBERS
Virginia Addicott, ’85, MBA ’95
Retired, President & CEO
FedEx Custom Critical
Raj Aggarwal, MBA ’70, DBA ’75
Retired, Visiting Research Scholar
Federal Reserve Bank of Cleveland
Lawrence R. Armstrong, BS ’79, B. Arch. ’80
Chairman Ware Malcomb
Roxia B. Boykin, ’ 71
Retired
Gary L. Brahler, ’89
Vice Chair, Investments
First Vice President, Investments
Morgan Stanley
Heather Cerbone, ’90
Senior Vice President Product
Design & Development
Ralph Lauren Corporation
Vicki Haywood Doe, ’00, MA ’03, Ph.D. ’09
President
Vicki Doe Fitness
Timothy D. Eippert, ’92
CEO Stratus
John R. Elliot, ’ 70
Owner
AMFM, LLC
Barry E. Fetterman, ’74, MBA ’76
Retired, Principal/Portfolio Manager
Sirach Capital Management, Inc.
Richard J. Frenchie, MBA, LFACHE
President, The Frenchie Group
Affiliated Partner Leadership Excellence
Health Care Advisory Network
Valerie Patton George, ’06
President
Simply Formulas, Inc.
Cathy D. Hemming, ’70
Cathy D. Hemming Literary Agency, LLC
Candice A. Hughes, ’70, M.Ed. ’72, Ph.D.
Associate Professor, Department of School Psychology
Adjunct Faculty, International Psychology
The Chicago School of Professional Psychology
Nora Conway Jacobs, ’73
Senior Vice President, Crisis Communications
Hennes Communications
Richard G. Krumel, ’71
Chair, Governance
Retired, Executive Recruiter
Steffany Matticola Larkins, ’92
Chair, Audit
President, Employee Benefits Division
Unison Risk Advisors
Judie Fall Lasser, ’00
Hudson, Ohio
Dale Leppo, ’74
Vice Chair, Finance
Retired, Chairman of the Board
Leppo Group
Stephen M. Milkovich, ’93
President and Owner
Construction Mechanics, Inc.
Robert G. Risman
Sub-committee Chair, KSU Hotel and Conference Center
President & CEO
Burton Carol Management LLC
Robert E. Ross, ’70
Retired, Director
Private Asset Management
Robert W. Baird & Co.
Diana P. Strongosky, ’88
Senior Vice President, Group Strategy and Supply Chain Execution
Sherwin-Williams Company
Daniel A. Wolfe, ’82
Retired, Vice President; General Manager, Aircraft Captain Aviation Business Center, Nationwide Insurance
AT LARGE MEMBERS
REPRESENTING THE ALUMNI ASSOCIATION
Alexander Evans, ’14, MBA ’15, MGISc ’ 19 Epidemiologist
Franklin County Public Health
Andrea Gauding, ’87
Vice Chair, Audit
Vice President & CFO Insurance Board
Scott McKinney, ’97, MPA ’13 Executive Director, Kent State University Alumni Association
Assistant Vice President, Donor and Volunteer Engagement
Kent State University
TRUSTEE REPRESENTATIVE
Pamela E. Bobst, M.Ed. ’85
Mayor City of Rocky River
AS OF JUNE 30, 2024
STUDENT REPRESENTATIVES
Lauren Klodt, ’24
Owen Ross, ’25
EXECUTIVE OFFICERS OF KENT STATE UNIVERSITY
Todd Diacon, Ph.D.
President
Kent State University
Mark M. Polatajko, Ph.D., CPA
Senior Vice President for Finance and Administration
Kent State University
Melody Tankersley, Ph.D.
Senior Vice President and Provost
Kent State University
PRESIDENTIAL APPOINTMENT
Diane Petrella, DMA
Dean, College of the Arts
Kent State University
EMERITI
Linda Allard Gallen, ’62, D.Litt . ’91
Retired, Design Director
Ellen Tracy
Roger K. Derr, ’58, MBA ’63
Retired, Executive VP & Chief Operating Officer
AMETEK
Cecile M. Draime, ’58
Retired, Owner CD Interiors Unlimited
Roe Green, ’80 Self-Employed
Retired, Theatrical Stage Director
Mel B. Mellis, ’68
Retired, President
Bartlett & Company, Real Estate Group
Ronald A. Pizzuti, ’62
Emeritus Chairman & CEO
The Pizzuti Collection
STUDENTS FIRST
$32.9 million raised
FOUR GIFTS OF $1 MILLION OR MORE
During this fiscal year, four donors made gifts of $1 million or more.
STUDENT SUPPORT
We surpassed the Forever Brighter campaign
Prioritizing Student Success fundraising goal by $57 million to support access and completion.
SCHOLARSHIPS ARE KEY
GLOBAL EDUCATION
We have 1,689 active foundation scholarships established by generous donors; 61 of these were established in 2024 and 43 are endowed scholarships.
With the Renaissance Scholars Society, we commemorated 50 years of education abroad at Kent State Florence and honored the naming of two global education programs made possible through philanthropic support.
SCHOLARSHIP
SUPPORT AND ENSURING ACCESS
Scholarships support Kent State’s focus on ensuring access for all students, regardless of their financial situation, and increasing graduation rates. Raising funds to align with scholarship needs helps us to support our students from the day they receive their letter of acceptance to the day they receive their degree.
74% PERCENTAGE OF KENT STATE STUDENTS RECEIVING FINANCIAL ASSISTANCE
50% PERCENTAGE OF STUDENTS APPLYING FOR FINANCIAL AID WHO ARE CONSIDERED HIGH NEED
$6.7M
3,733 TOTAL DONOR-FUNDED SCHOLARSHIPS AWARDED
3,304 AMOUNT OF KSU FOUNDATION SCHOLARSHIPS AWARDED NUMBER OF STUDENTS SUPPORTED BY FOUNDATION SCHOLARSHIPS
BRIGHT SPOTS
Donors’ philanthropic support has highlighted a variety of key programs in Fiscal Year 2024.
Athletics
Kent State formed a multiyear partnership with the Cleveland Clinic as the official healthcare provider for Kent State Athletics, providing approximately $1.6 million in medical services annually.
Wick Poetry Center
A $1 million planned gift was made by Chris Wick to endow the executive director position, honoring the memories of Robert and Walter Wick.
Regional Campuses
The Rising Scholars program secured a blended gift of more than $1.1 million in planned and outright gifts to provide first-generation students from areas surrounding our Regional Campuses with mentoring and college preparation programs.
College of Education, Health and Human Services
A $1 million planned gift was made to the college to support teacher education.
FINANCIALS AND FISCAL YEAR 2024 COMPARISONS
Assets and Disbursements: Year ended June 30, 2024
FINANCIALS FY 2023-2024
of June 30, 2024
FINANCIALS FY 2024
Statement of Activities:
Year Ended June 30, 2024
FINANCIALS FY 2023
Statement of Activities:
Year Ended June 30, 2023
MAKE AN IMPACT TODAY
Help us put our remarkable students first, from ensuring access for all to providing much-needed support until they reach the finish line and receive their diploma. Kent State alumni make a lasting impact in their communities, across the nation and around the globe. By coming together, we are making the world Forever Brighter, one Flash at a time.
THANK YOU FOR YOUR CONTINUED SUPPORT!
