University Development Group Inc
University Development Group, inc was formed to manage property owned by kent state university and hold equity interests or licenses in start up entities. The companyis a conduit that helps in formation of new businesses, creation ofjobs and revitalization and growth in northeast Ohio. They also promoteacademic achievement and enhance education by providing opportunities for students in the business and entrepreneurial areas.
University Development Group Inc at a glance
In short: University Development Group Inc gave $693K across 3 grants in 2022 (avg $231K), mostly in Ohio. Source: 2022 IRS Form 990.
- Annual giving (2022)
- $693,075
- Grants made (2022)
- 3
- Average grant
- $231,025
- Median grant
- $49,800
- Primary geography
- Ohio (100% of itemized 2022 grant dollars)
- Latest 990 filing
- Form 990, 2022 View filing
Data from IRS Form 990, 2022; updated September 2026. Covers 15 months (fiscal year-end changed).
Who University Development Group Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2022
The largest 2022 recipient was KSU Research Corp ($693K across 3 grants).
Grant Size Distribution
3 grants across all recorded years
The most common grant size was under $50K: 2 grants of 3 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2022 grant dollars across all 3 itemized grants.
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
In 2022 it made 3 grants totaling $693K.
*2022: Covers 15 months (fiscal year-end changed).
Grants by year
Grant recipients and amounts by year
*2022: Covers 15 months (fiscal year-end changed).
| Recipient | Purpose | Amount |
|---|---|---|
| KSU Research Corp Kent, OH | Transfer of cash balance due to imminent organization closure | $627,202 |
| KSU Research Corp Kent, OH | Transfer of Cash Balance Due to Organization Closure | $49,800 |
| KSU Research Corp Kent, OH | Transfer of Leasehold Improvements Due to Organization Closure | $16,073 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2022* | — | $230,679 | $760,471 | $693,075 | 3 | $321 |
| 2021 | $529,792 | $203,182 | $49,154 | — | — | $505 |
| 2020 | $375,764 | $230,737 | $230,150 | — | — | $1,102 |
| 2019 | $375,177 | $211,843 | $40,040 | — | — | $898 |
*2022: Covers 15 months (fiscal year-end changed).
About University Development Group Inc
Based on IRS filings
University Development Group Inc is a public charity focused on Community Improvement & Capacity Building, based in Kent, OH. IRS filing data is available from 2019 through 2022. In 2022, it awarded 3 grants totaling $693K. Net investment income was $321.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
University Development Group Inc is led by Michael Drew, President on every filing since 2019; none of the 2 officers listed in 2022 report compensation.
Officers on the 2022 filing
Michael Drew
President
On filings since 2019
3 hrs/week
$3K (2019) → $0 (2022)
Lowell Croskey
Director
On filings since 2019
1 hr/week
No compensation reported
Former officers (1)
- Former: Richard Worthing (2019–2020) — Director
Data from IRS Form 990 filings, 2019–2022. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $3K, to Michael Drew (President).
Frequently asked questions about University Development Group Inc
How much does University Development Group Inc give each year?
University Development Group Inc gave $693K across 3 grants in 2022, according to its 2022 IRS Form 990. The 2022 filing year covers 15 months because its fiscal year-end changed.
What is University Development Group Inc's typical grant size?
University Development Group Inc's median grant in 2022 was $49,800, and its average grant was $231,025, across 3 grants on its 2022 IRS Form 990.
Where does University Development Group Inc give grants?
University Development Group Inc gives mostly in Ohio: 100% of the grant dollars itemized on its 2022 IRS Form 990 went to recipients there. The most frequent recipient cities were Kent, OH (3 grants).
Does University Development Group Inc give general operating support?
Not in 2022: none of the 3 grants with a stated purpose on University Development Group Inc's 2022 IRS Form 990 were described as general or operating support.
What is University Development Group Inc?
University Development Group Inc is a public charity focused on Community Improvement & Capacity Building, based in Kent, OH.
What is University Development Group Inc's EIN?
University Development Group Inc's EIN (Employer Identification Number) is 26-3118684. IRS Form 990 filing data is available on this page for 2019–2022.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2019 (received by the IRS January 8, 2020)
- Updated Form 990 for fiscal year 2022 (received by the IRS August 10, 2023)
- IRS filings on file for fiscal years 2020–2022
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Browse active grant opportunities in University Development Group Inc's focus areas in our free grants database
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