Akron Community Foundation leader set to retire
Will leave organization in ’25 after 17 years as CEO
Akron Community Foundation President and Chief Executive Officer John T. Petures Jr. announced Tuesday that he will retire in 2025 after 17 years.
Since joining Akron Community Foundation in May 2008, Petures and his staff have nearly tripled the foundation’s assets and funds, the organization noted. From a low of about $100 million in assets during the Great Recession of 2008, the foundation has grown to nearly $300 million in 2024.
During that time, the number of charitable funds has increased from about 300 to nearly 900. The Akron foundation has received an average of nearly $15 million in contributions annually over the past decade.
“When opportunity and vision meet, and at that intersection you find compassionate, committed philanthropists, board members and staff, it can lift the community,” Petures said in a prepared statement. “This is what I’ve seen happen this past decade and a half through the work and mission of Akron Community Foundation and the extraordinary generosity of its family of donors and fundholders.”
Other accomplishments during Petures’ tenure include the renovation and expansion of the foundation’s headquarters at 345 W. Cedar St.; the launch of the Center for Family Philanthropy and its Institute for Emerging Philanthropists; the establishment of the Black Giving Collective Fund; the creation of affiliate funds for Green and Bath Township; a partnership with Summit County to distribute more than $5 million to nonprofits through CARES Act funding; a partnership with Akron Public Schools for middle school academies; and the transition of nearly $1.7 million in assets to establish the Medina County Community Foundation.
“Under John’s leadership for the past 17 years, Akron Community Foundation has not only seen significant asset growth, but — in large measure due to his vision and innovation — the foundation has been positioned to be our community’s champion and generator of enduring philanthropy,” said Marty Hauser, board chair of the community foundation. “Beyond those accomplishments, I know I speak for our board, former board and staff when I say that John will also be missed for his thoughtful approach to leadership and the positive culture he’s built at the foundation.”
Petures plans to retire in the second quarter of 2025. He said he looks forward to traveling with his wife, Cindy, and spending more time with their three children and five grandchildren.
Board Vice Chair Jim Pickard will lead a search committee to find a successor for Petures.
The Akron Community Foundation was established in 1955 through a $1 million bequest from the estate of Edwin Shaw. For more information about the organization, call 330-376-8522 or visit akroncf.org.