What is the Kent State University Foundation?

All philanthropic gifts to Kent State are managed by the Kent State University Foundation, a nonprofit organization that is legally separate from the university. For more than 60 years, the foundation has helped transform the generosity of alumni, donors and friends into scholarships, research, academic programs, student experiences and opportunities that shape Kent State’s future. 

Today, the foundation manages nearly 5,000 individual funds and more than $365 million in assets, each with a purpose and a story behind it. 

A Foundation Built for Kent State 

Philanthropy has been part of Kent State’s story from the very beginning. 

In 1910, William S. Kent donated 53 acres of land that helped establish what was then Kent State Normal School. His generosity quite literally provided the ground upon which Kent State was built. 

As the institution grew from a normal school to a college and, eventually, a university, philanthropy grew with it. In 1954, the Kent State University Development Fund was created to encourage alumni to give. Eleven years later, the Kent State University Foundation was incorporated as a nonprofit organization dedicated exclusively to supporting Kent State and its students. 

That distinction remains important today. 

Although the foundation exists solely to benefit Kent State, it is a separate legal entity from the university. This structure allows the foundation to receive and invest private gifts on behalf of Kent State while ensuring those resources are managed according to donor intent. In other words, when a donor establishes a scholarship, supports a program or creates an endowed fund, the foundation helps ensure that gift continues doing what the donor wanted it to do. 

Who Watches Over Those Gifts? 

With hundreds of millions of dollars entrusted to the foundation, ensuring those gifts are used as intended is a significant responsibility. 

The foundation is governed by a volunteer board of directors composed of accomplished alumni and leaders from business, finance and the community. Board members serve without compensation, contributing their expertise through areas including finance, investments, audit, governance, and philanthropy and alumni engagement. 

Together with foundation staff and professional investment partners, the board provides oversight designed to safeguard assets, responsibly invest long-term funds and ensure philanthropic resources continue benefiting Kent State students today and for generations to come. 

That long-term perspective is especially important for endowed gifts. Rather than spending an endowed gift all at once, the foundation invests the principal and uses a portion of the investment return to support the donor's wishes year after year in perpetuity. 

Because of that, a scholarships created decades ago are still supporting Kent State students today. 

Leading the Foundation’s Next Chapter 

Following her retirement from Kent State University after more than 15 years of service, Valoree Vargo continues her work on behalf of the Kent State community in a new capacity as CEO of the Kent State University Foundation. 

The transition marks a new chapter for the foundation. From 2021 to 2026, Vargo served in the dual role of vice president for Philanthropy and Alumni Engagement and CEO of the foundation. With those positions now separated, she is focused exclusively on providing strategic leadership for the foundation, working alongside its board of directors to steward philanthropic investments, strengthen relationships with donors and volunteers, and ensure private support continues to advance Kent State's mission. 

Vargo's connection to philanthropy at Kent State stretches back to 2010, when she joined the university as executive director of Donor Services. Over the next 16 years, she held several leadership positions and ultimately helped oversee the successful completion of the $383 million Forever Brighter comprehensive campaign, the largest in Kent State's history. 

Now, her work is focused on the organization entrusted with stewarding the generosity behind that success and positioning those resources to make an impact for generations to come. 

The Kent State University Foundation and its board of directors are dedicated partners with the university. Our primary mission is to provide support to the fundraising and alumni engagement priorities of the university by stewarding our donors, our alumni and most importantly the success of our students. 

Her transition also reflects the foundation’s evolution. What began in 1965 as a vehicle for encouraging and managing private support has grown into a sophisticated philanthropic and investment organization responsible for nearly 5,000 funds and more than $365 million in assets. 

From $1 Million to $411 Million 

The scale of philanthropy at Kent State has changed over the past six decades. 

By 1973, contributions to the foundation had reached a then-record of $1 million. As Kent State grew, private philanthropy became increasingly important to advancing the university's mission and creating opportunities for students. 

Major fundraising campaigns accelerated that growth. The Campaign for Kent State raised $122 million, followed by the Centennial Campaign, which raised $265 million as Kent State entered its second century. 

Most recently, the Forever Brighter comprehensive campaign demonstrated what the Kent State community can accomplish together, generating hundreds of millions of dollars in philanthropic support for students, programs and priorities across the university. 

Nearly 5,000 funds mean nearly 5,000 different ways donors have chosen to make a difference at Kent State. 

Some were established by families honoring loved ones. Others were created by alumni grateful for the opportunities Kent State gave them. Some address immediate needs while endowed funds are designed to continue making an impact far into the future. 

Together, they represent generations of Golden Flashes choosing to invest in the people and possibilities of Kent State. 

Generosity That Lasts 

More than a century after William S. Kent donated the land that helped make the university a reality, philanthropy continues to shape Kent State. Someone believes in what Kent State can make possible, chooses to invest in that possibility and entrusts the foundation to help turn that generosity into lasting impact. 

And that’s how a gift made today can become part of Kent State’s story for generations to come.