Civic Intelligence

Akron Area Arts Alliance

990 • Fiscal year 2020 • EIN 34-1841587

Jul 01, 2019 to Jun 30, 2020 • Filed on May 01, 2021

140 East Market StreetAkron, OH 44308

(330) 376-8480

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.31x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

90th percentile

0.49x

Higher debt load relative to revenue than 90% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

21st percentile

-22%

Higher net margin than 21% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

95th percentile

$64,262

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 38.9% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

36th percentile

-3.5%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Revenue Growth

51st percentile

-13%

Faster revenue growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Assets

Down

$260,576

Down $19,198 (-6.9%) from 2018

Net Assets

Down

$180,008

Down $45,628 (-20%) from 2018

Liabilities

Up

$80,568

Up $26,430 (+49%) from 2018

Revenue

Down

$165,379

Down $52,196 (-24%) from 2018

Expenses

Up

$201,877

Up $5,848 (+3.0%) from 2018

Net Income

Down

-$36,498

Down $58,044 (-269%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $348,089Liabilities 2011: $78Net Assets 2011: $348,0112011Assets 2012: $343,185Liabilities 2012: $2,992Net Assets 2012: $340,1932012Assets 2013: $344,177Liabilities 2013: $3,022Net Assets 2013: $341,1552013Assets 2014: $366,223Liabilities 2014: $6,808Net Assets 2014: $359,4152014Assets 2015: $283,994Liabilities 2015: $6,761Net Assets 2015: $277,2332015Assets 2016: $229,134Liabilities 2016: $10,172Net Assets 2016: $218,9622016Assets 2017: $251,579Liabilities 2017: $47,489Net Assets 2017: $204,0902017Assets 2018: $279,774Liabilities 2018: $54,138Net Assets 2018: $225,6362018Assets 2020: $260,576Liabilities 2020: $80,568Net Assets 2020: $180,0082020Assets 2021: $272,915Liabilities 2021: $51,930Net Assets 2021: $220,9852021Assets 2022: $253,899Liabilities 2022: $41,226Net Assets 2022: $212,6732022Assets 2023: $327,392Liabilities 2023: $66,791Net Assets 2023: $260,6012023Assets 2024: $524,534Liabilities 2024: $53,777Net Assets 2024: $470,7572024

Highlighted filing

2020

Assets$260,576
Liabilities$80,568
Net Assets$180,008

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $166,1952011Revenue 2012: $145,520Expenses 2012: $153,338Net Income 2012: -$7,8182012Expenses 2013: $123,8372013Revenue 2014: $169,875Expenses 2014: $151,615Net Income 2014: $18,2602014Revenue 2015: $135,586Expenses 2015: $217,768Net Income 2015: -$82,1822015Revenue 2016: $156,520Expenses 2016: $214,791Net Income 2016: -$58,2712016Revenue 2017: $185,211Expenses 2017: $200,186Net Income 2017: -$14,9752017Revenue 2018: $217,575Expenses 2018: $196,029Net Income 2018: $21,5462018Revenue 2020: $165,379Expenses 2020: $201,877Net Income 2020: -$36,4982020Revenue 2021: $242,438Expenses 2021: $203,297Net Income 2021: $39,1412021Revenue 2022: $347,579Expenses 2022: $354,852Net Income 2022: -$7,2732022Revenue 2023: $359,966Expenses 2023: $317,700Net Income 2023: $42,2662023Revenue 2024: $823,130Expenses 2024: $609,403Net Income 2024: $213,7272024

Highlighted filing

2020

Revenue$165,379
Expenses$201,877
Net Income-$36,498
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 1, 2021
Return Version
2019v5.0
Gross Receipts
$166,882
Mission and Program Overview

Mission

Summit artspace connects artists and artist-serving organizations to the community and to the resources they need to thrive professionally, creatively and financially. It's core values of creativity, collaboration and community guide the current strategic plan, which focuses on six key priority areas: 1) supporting artists at all levels of their creative journey, 2) encouraging participation in the arts through education and outreach, 3) serving as a vital creative resource for the community, 4) increasing awareness and visibility throughout the community, 5) building financial sustainability through revenue growth and 6) diversifying artists we serve. Additionally, summit artspace seeks to build public awareness concerning the value of arts and culture to our area's economy, quality of life and sense of place for those that live, work or go to school in the five-county service area of summit, portage, medina, cuyahoga, and stark counties.

Summit artspace is a community arts center that provides a nurturing environment for artists at all phases of their creative journeys. Vital resources include physical space, programming and exposure. Summit artspace partners with the county of summit, which owns its akron location, to offer artist studios for rent, galleries for exhibitions, classrooms for workshops, offices for arts organizations, and performance and meeting space. A.studio and office space enables visual, sculpture, literature, music, and performance artists to interact in a supportive, growing community. B.summit artspace offers educational and professional development programs for established and emerging artists, as well as creative experiences for all ages. The artists as entrepreneur institute-a cohort based multi-week program to assist creatives in laying the foundation of business operations -is a signature program. Workshops and public events are offered at free or reduced fees to encourage broad community a

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$168,264$160,774▼ $7,490
Savings and Temporary Cash Investments$16,448$48,575▲ $32,127
Cash and Non-Interest-Bearing Accounts$68,228$37,157▼ $31,071
Accounts Receivable$6,730$7,529▲ $799
Investments Other Securities$6,048$6,086▲ $38
Prepaid Expenses and Deferred Charges$188$455▲ $267
Total Assets$265,906$260,576▼ $5,330
Liabilities
Accounts Payable and Accrued Expenses$14,138$43,691▲ $29,553
Unsecured Notes Loans Payable-$25,072-
Deferred Revenue$175$5,970▲ $5,795
Other Liabilities$35,125$5,835▼ $29,290
Total Liabilities$49,438$80,568▲ $31,130
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$178,135$150,422▼ $27,713
Net Assets With Donor Restrictions$38,333$29,586▼ $8,747
Total Net Assets Fund Balance$216,468$180,008▼ $36,460
Total Liabilities and Net Assets / Fund Balance$265,906$260,576▼ $5,330

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$159,504$57,632$217,136
Other Land Buildings$1,270$26,640$27,910

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$6,048-▲ $38-$6,086
2018$5,864-▲ $184-$6,048
2017$5,154-▲ $710-$5,864
2016$5,000-▲ $154-$5,154
2015-$5,000--$5,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kamelia FisherExec Dir, ReFT$60,346$3,916$64,262
Revenue and Support

Revenue Composition

Contributions and Grants
$43,424
Program Service Revenue
$109,712
Investment Income
$20
Other Revenue
$12,223
All Other Contributions
$30,728
Change in Net Assets
$-36,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$121,747
Other Expenses$80,130
Total Fundraising Expense$11,633
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,961$12,560$6,280$62,801
Other Salaries and Wages$42,054$4,948$2,473$49,475
Occupancy$27,364--$27,364
Payroll Taxes$6,630$2,084$757$9,471
Information Technology$6,238$1,782$891$8,911
Depreciation Depletion$6,966$374$150$7,490
Fees for Services Other$5,118$1,462$732$7,312
Fees for Services Accounting-$7,175-$7,175
All Other Expenses$1,974--$1,974
Advertising$1,402-$350$1,752
Other Expenses$1,644$1,935-$1,644
Office Expenses$730$312-$1,042
Interest-$134-$134
Conferences and Meetings$12--$12
Total Functional Expenses$154,019$36,225$11,633$201,877
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,240
Fundraising Direct Expenses$1,503
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$5,704
Sales Tax$131
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The 990 is reviewed by the board prior to filing.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy requires all board members and staff to promptly report all conflicts of interest as well as update their conflict of interest disclosures on an annual basis. In addition, the executive director and board as a whole are continuously monitoring the organization for conflicts of interest. All conflicts of interest are brought to the attention of the board, who ensures enforcement of the conflict of interest policy.

Form 990, Page 6, Part VI, Line 15A

The board evaluates the executive director annually and determines compensation using appropriate salary surveys and other information.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Summit Artspace
EIN
34-1841587
Phone
3303768480
Address
140 EAST MARKET STREET, AKRON, OH 44308

Signing Officer

Name
Heather Meeker
Title
Executive Director
Phone
3303768480
Signed
2021-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Meeker
Formed
1991
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
Employees
7
Volunteers
150

Preparer

Firm
Crum & Company
Address
1640 AKRON PENINSULA RD STE 102, AKRON, OH 44313
Preparer
Kevin K Crum
Phone
3308671222
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Summit artspace connects artists and artist-serving organizations to the community and to the resources they need to thrive professionally, creatively and financially. It's core values of creativity, collaboration and community guide the current strategic plan, which focuses on six key priority areas: 1) supporting artists at all levels of their creative journey, 2) encouraging participation in the arts through education and outreach, 3) serving as a vital creative resource for the community, 4) increasing awareness and visibility throughout the community, 5) building financial sustainability through revenue growth and 6) diversifying artists we serve. Additionally, summit artspace seeks to build public awareness concerning the value of arts and culture to our area's economy, quality of life and sense of place for those that live, work or go to school in the five-county service area of summit, portage, medina, cuyahoga, and stark counties.

Form 990, Page 1, Part I, Line 6

Summit artspace relies on volunteers to assist in the delivery of its mission. Leadership volunteers serve as members of the board of directors and executive committee along with serving on committees. Program volunteers assist with leading programs and workshops such as artist as an entrepreneur institute, docents during gallery hours, represent summit artspace at community events. Gallery sitter volunteers serve as subject matter experts on the exhibitions and facilitate sales of pieces available for purchase during an exhibition. Summit artspace hosts interns from local high schools and higher education institutions to provide shadowing and hands on experiences for those considering pursuing a career in arts administration or the creative sector.

Form 990, Page 2, Part III, Line 4B

Programs to assist creatives along their journey are an important component to summit artspace's mission. The signature offering is artist as an entrepreneur institute (aei) that provides business skill building sessions from local content experts to train creatives for self-sufficiency. Artists participating in the program represent multiple mediums including theatre, dance and visual artists. Conducted in a multi-week cohort model, this allows artists the support and support system to grow. Additional programming centers around professional development for established artists or skill building techniques for emerging artists in the community. All programs are offered at a reasonable and affordable cost and most offer scholarships to participants that cannot afford the program. Summit artspace collaborates with local arts organizations to offer meeting and instruction space at an in-kind or reduced rate when public health orders permit.

Form 990, Page 2, Part III, Line 4C

Summit artspace represents two community art centers bringing together some of the best local artists and art serving organizations of summit county and the five-county area it serves. Locations were operated at 140 e. Market street in akron and at 571 w. Tuscarawas avenue in barberton. As a community arts center summit artspace is home to over 30 artists and artist-serving organizations for working studio space that allow artists to create work and engage with the public. The summit artspace on east market, the building formally the first site of the akron beacon journal, is owned by the county of summit and is a valued partner in ensuring free and public access to the arts. The barberton location in that city's arts and entertainment district is owned by the city of barberton and its gallery is also free and open to the public.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Provide long-term sustainability to the organization and provide a mechanism for future endowment contributions.

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IRS990/MissionDesc0SUMMIT ARTSPACE CONNECTS ARTISTS AND ARTIST-SERVING ORGANIZATIONS TO THE COMMUNITY AND TO THE RESOURCES THEY NEED TO THRIVE PROFESSIONALLY, CREATIVELY AND FINANCIALLY. IT'S CORE VALUES OF CREATIVITY, COLLABORATION AND COMMUNITY GUIDE THE CURRENT STRATEGIC PLAN, WHICH FOCUSES ON SIX KEY PRIORITY AREAS: 1) SUPPORTING ARTISTS AT ALL LEVELS OF THEIR CREATIVE JOURNEY, 2) ENCOURAGING PARTICIPATION IN THE ARTS THROUGH EDUCATION AND OUTREACH, 3) SERVING AS A VITAL CREATIVE RESOURCE FOR THE COMMUNITY, 4) INCREASING AWARENESS AND VISIBILITY THROUGHOUT THE COMMUNITY, 5) BUILDING FINANCIAL SUSTAINABILITY THROUGH REVENUE GROWTH AND 6) DIVERSIFYING ARTISTS WE SERVE. ADDITIONALLY, SUMMIT ARTSPACE SEEKS TO BUILD PUBLIC AWARENESS CONCERNING THE VALUE OF ARTS AND CULTURE TO OUR AREA'S ECONOMY, QUALITY OF LIFE AND SENSE OF PLACE FOR THOSE THAT LIVE, WORK OR GO TO SCHOOL IN THE FIVE-COUNTY SERVICE AREA OF SUMMIT, PORTAGE, MEDINA, CUYAHOGA, AND STARK COUNTIES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROGRAMS TO ASSIST CREATIVES ALONG THEIR JOURNEY ARE AN IMPORTANT COMPONENT TO SUMMIT ARTSPACE'S MISSION. THE SIGNATURE OFFERING IS ARTIST AS AN ENTREPRENEUR INSTITUTE (AEI) THAT PROVIDES BUSINESS SKILL BUILDING SESSIONS FROM LOCAL CONTENT EXPERTS TO TRAIN CREATIVES FOR SELF-SUFFICIENCY. ARTISTS PARTICIPATING IN THE PROGRAM REPRESENT MULTIPLE MEDIUMS INCLUDING THEATRE, DANCE AND VISUAL ARTISTS. CONDUCTED IN A MULTI-WEEK COHORT MODEL, THIS ALLOWS ARTISTS THE SUPPORT AND SUPPORT SYSTEM TO GROW. ADDITIONAL PROGRAMMING CENTERS AROUND PROFESSIONAL DEVELOPMENT FOR ESTABLISHED ARTISTS OR SKILL BUILDING TECHNIQUES FOR EMERGING ARTISTS IN THE COMMUNITY. ALL PROGRAMS ARE OFFERED AT A REASONABLE AND AFFORDABLE COST AND MOST OFFER SCHOLARSHIPS TO PARTICIPANTS THAT CANNOT AFFORD THE PROGRAM. SUMMIT ARTSPACE COLLABORATES WITH LOCAL ARTS ORGANIZATIONS TO OFFER MEETING AND INSTRUCTION SPACE AT AN IN-KIND OR REDUCED RATE WHEN PUBLIC HEALTH ORDERS PERMIT.
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IRS990/ProgSrvcAccomActy3Grp/Desc0SUMMIT ARTSPACE REPRESENTS TWO COMMUNITY ART CENTERS BRINGING TOGETHER SOME OF THE BEST LOCAL ARTISTS AND ART SERVING ORGANIZATIONS OF SUMMIT COUNTY AND THE FIVE-COUNTY AREA IT SERVES. LOCATIONS WERE OPERATED AT 140 E. MARKET STREET IN AKRON AND AT 571 W. TUSCARAWAS AVENUE IN BARBERTON. AS A COMMUNITY ARTS CENTER SUMMIT ARTSPACE IS HOME TO OVER 30 ARTISTS AND ARTIST-SERVING ORGANIZATIONS FOR WORKING STUDIO SPACE THAT ALLOW ARTISTS TO CREATE WORK AND ENGAGE WITH THE PUBLIC. THE SUMMIT ARTSPACE ON EAST MARKET, THE BUILDING FORMALLY THE FIRST SITE OF THE AKRON BEACON JOURNAL, IS OWNED BY THE COUNTY OF SUMMIT AND IS A VALUED PARTNER IN ENSURING FREE AND PUBLIC ACCESS TO THE ARTS. THE BARBERTON LOCATION IN THAT CITY'S ARTS AND ENTERTAINMENT DISTRICT IS OWNED BY THE CITY OF BARBERTON AND ITS GALLERY IS ALSO FREE AND OPEN TO THE PUBLIC.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.25$0.54$4.71$8.23$6.09$2.14
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.67$2.61$3.60$3.18$0.42
2022Detailed filing. Detailed filing data is available for this year.$2.54$0.41$2.13$3.48$3.55$0.07
2021Detailed filing. Detailed filing data is available for this year.$2.73$0.52$2.21$2.42$2.03$0.39
2020Detailed filing. Detailed filing data is available for this year.$2.61$0.81$1.80$1.65$2.02$0.36
2018Detailed filing. Detailed filing data is available for this year.$2.80$0.54$2.26$2.18$1.96$0.22
2017Detailed filing. Detailed filing data is available for this year.$2.52$0.47$2.04$1.85$2.00$0.15
2016Detailed filing. Detailed filing data is available for this year.$2.29$0.10$2.19$1.57$2.15$0.58
2015Detailed filing. Detailed filing data is available for this year.$2.84$0.07$2.77$1.36$2.18$0.82
2014Detailed filing. Detailed filing data is available for this year.$3.66$0.07$3.59$1.70$1.52$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.44$0.03$3.41$1.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.43$0.03$3.40$1.46$1.53$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.48$0.00$3.48$1.66