Civic Intelligence

Akron Area Arts Alliance

990 • Fiscal year 2022 • EIN 34-1841587

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 30, 2023

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

83rd percentile

0.16x

Higher debt load relative to assets than 83% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.12x

Higher debt load relative to revenue than 83% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

36th percentile

-2.1%

Higher net margin than 36% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

96th percentile

$69,409

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 20.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

35th percentile

-7.0%

Faster asset growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

71st percentile

43%

Faster revenue growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$253,899

Down $19,016 (-7.0%) from 2021

Net Assets

Down

$212,673

Down $8,312 (-3.8%) from 2021

Liabilities

Down

$41,226

Down $10,704 (-21%) from 2021

Revenue

Up

$347,579

Up $105,141 (+43%) from 2021

Expenses

Up

$354,852

Up $151,555 (+75%) from 2021

Net Income

Down

-$7,273

Down $46,414 (-119%) from 2021

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

2022

Assets$253,899
Liabilities$41,226
Net Assets$212,673

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

2022

Revenue$347,579
Expenses$354,852
Net Income-$7,273
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 30, 2023
Return Version
2021v4.0
Gross Receipts
$366,040
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-based nonprofit arts incubator that provides a nurturing environment for artists at all phases of their creative journeys. Vital resources include physical space, artist-centered programs and public events. Summit artspace partners with the county of summit, which owns its historic akron building, to offer artist studios for rent, galleries for exhibitions, classrooms for workshops, offices for arts organizations, and performance and event space. A.studio and office space enables visual, performing and literary 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. C.workshops and public events are offered at free or reduced fees to enc

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$153,315$145,815▼ $7,500
Savings and Temporary Cash Investments$55,673$44,607▼ $11,066
Cash and Non-Interest-Bearing Accounts$52,314$39,783▼ $12,531
Accounts Receivable$3,769$10,124▲ $6,355
Prepaid Expenses and Deferred Charges$198$7,069▲ $6,871
Investments Other Securities$7,646$6,501▼ $1,145
Total Assets$272,915$253,899▼ $19,016
Liabilities
Accounts Payable and Accrued Expenses$11,051$27,992▲ $16,941
Unsecured Notes Loans Payable$22,565--
Other Liabilities$18,064$12,984▼ $5,080
Deferred Revenue$250$250→ $0
Total Liabilities$51,930$41,226▼ $10,704
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$220,985$212,673▼ $8,312
Total Net Assets Fund Balance$220,985$212,673▼ $8,312
Total Liabilities and Net Assets / Fund Balance$272,915$253,899▼ $19,016

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$145,815$71,321$217,136
Other Land Buildings-$27,911$27,911

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$7,646-▼ $1,145-$6,501
2020$6,086-▲ $1,560-$7,646
2019$6,048-▲ $38-$6,086
2018$5,864-▲ $184-$6,048
2017$5,154-▲ $710-$5,864
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather MeekerExecutive DiFT$67,577$1,832$69,409

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$216,570
Program Service Revenue
$139,023
Investment Income
$16
Other Revenue
$-8,030
All Other Contributions
$128,702
Change in Net Assets
$-7,273
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,747
Salaries, Compensation, and Employee Benefits$167,105
Total Fundraising Expense$12,460
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$64,939$15,628$2,285$82,852
Current Officers, Directors, Trustees, and Key Employees$41,645$20,823$6,941$69,409
Fees for Services Other$23,886$27,048-$50,934
Occupancy$35,450--$35,450
Information Technology$13,394$8,563-$21,957
Advertising$16,999$324$200$17,523
Payroll Taxes$8,698$2,658$725$12,081
Fees for Services Accounting-$9,365-$9,365
Depreciation Depletion-$7,500-$7,500
Other Employee Benefits$2,155$528$80$2,763
Conferences and Meetings$1,907--$1,907
Office Expenses$476$1,290-$1,766
Other Expenses$43$929$421$1,393
Total Functional Expenses$245,121$97,271$12,460$354,852
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$18,461
Fundraising Gross Income$6,680
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Arts Alive$37,380$6,680$6,476$204
Total Events$37,380$6,680$18,461$-11,781
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$7,600
Security Deposits$5,384
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
2023-04-30
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
10
Volunteers
30

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. Its 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 artists as contributors to our area's creative economy, quality of life, and place-making for those that live, work or go to school in summit and contiguous 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 serve on numerous committees. Program volunteers lead programs and workshops such as artist entrepreneur institute, serves as gallery docents during public hours, and represent summit artspace at community events. Gallery docent volunteers serve as subject matter experts on 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 the creative sector.

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

Programs to assist artists with wraparound care and professional skills are an important opportunity for summit artspace to implement the akron cultural plan across multiple priorities, including talent development. A signature offering is artist as an entrepreneur institute (aei), which 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. Additional programming centers around professional development for established artists or skill-building techniques for emerging artists in the community. All programs are offered at an affordable cost and most offer scholarships to participants that cannot afford the program. Summit artspace collaborates with local arts and culture organizations to offer rehearsal, event and meeting and instruction space at an in-kind or reduced rate.

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

Summit artspace is home to nearly 30 artists and artist-serving organizations for working studio space that allow artists to create work and engage with the public. The building, formally the headquarters of the akron beacon journal and the akron public library, is owned by the county of summit, which is a valued partner in ensuring free and public access to the arts. Summit artspace produces public programs that encourage a robust and sustained "exchange" between the northeast ohio residents and summit county artists. Outcomes include increased arts engagement, direct connections with local artists, and artwork sales. Events include artwalk, artist sunday, the arts alive awards, and collaborations with other organizations such as junior leadership akron and the state of ohio poet laureate.

Form 990, Part IX, Line 11G

OTHER 23,886 27,048 0

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/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE, RES
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE, RES
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
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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. ITS 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 ARTISTS AS CONTRIBUTORS TO OUR AREA'S CREATIVE ECONOMY, QUALITY OF LIFE, AND PLACE-MAKING FOR THOSE THAT LIVE, WORK OR GO TO SCHOOL IN SUMMIT AND CONTIGUOUS COUNTIES.
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IRS990/ProgramServiceRevenueGrp/Desc3GALLERY RENTALS AND SALES
IRS990/ProgramServiceRevenueGrp/Desc4FISCAL SPONSORSHIP INCOME
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt128059
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt41000
IRS990/ProgSrvcAccomActy2Grp/Desc0PROGRAMS TO ASSIST ARTISTS WITH WRAPAROUND CARE AND PROFESSIONAL SKILLS ARE AN IMPORTANT OPPORTUNITY FOR SUMMIT ARTSPACE TO IMPLEMENT THE AKRON CULTURAL PLAN ACROSS MULTIPLE PRIORITIES, INCLUDING TALENT DEVELOPMENT. A SIGNATURE OFFERING IS ARTIST AS AN ENTREPRENEUR INSTITUTE (AEI), WHICH 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. ADDITIONAL PROGRAMMING CENTERS AROUND PROFESSIONAL DEVELOPMENT FOR ESTABLISHED ARTISTS OR SKILL-BUILDING TECHNIQUES FOR EMERGING ARTISTS IN THE COMMUNITY. ALL PROGRAMS ARE OFFERED AT AN AFFORDABLE COST AND MOST OFFER SCHOLARSHIPS TO PARTICIPANTS THAT CANNOT AFFORD THE PROGRAM. SUMMIT ARTSPACE COLLABORATES WITH LOCAL ARTS AND CULTURE ORGANIZATIONS TO OFFER REHEARSAL, EVENT AND MEETING AND INSTRUCTION SPACE AT AN IN-KIND OR REDUCED RATE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt079336
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt028601
IRS990/ProgSrvcAccomActy3Grp/Desc0SUMMIT ARTSPACE IS HOME TO NEARLY 30 ARTISTS AND ARTIST-SERVING ORGANIZATIONS FOR WORKING STUDIO SPACE THAT ALLOW ARTISTS TO CREATE WORK AND ENGAGE WITH THE PUBLIC. THE BUILDING, FORMALLY THE HEADQUARTERS OF THE AKRON BEACON JOURNAL AND THE AKRON PUBLIC LIBRARY, IS OWNED BY THE COUNTY OF SUMMIT, WHICH IS A VALUED PARTNER IN ENSURING FREE AND PUBLIC ACCESS TO THE ARTS. SUMMIT ARTSPACE PRODUCES PUBLIC PROGRAMS THAT ENCOURAGE A ROBUST AND SUSTAINED "EXCHANGE" BETWEEN THE NORTHEAST OHIO RESIDENTS AND SUMMIT COUNTY ARTISTS. OUTCOMES INCLUDE INCREASED ARTS ENGAGEMENT, DIRECT CONNECTIONS WITH LOCAL ARTISTS, AND ARTWORK SALES. EVENTS INCLUDE ARTWALK, ARTIST SUNDAY, THE ARTS ALIVE AWARDS, AND COLLABORATIONS WITH OTHER ORGANIZATIONS SUCH AS JUNIOR LEADERSHIP AKRON AND THE STATE OF OHIO POET LAUREATE.
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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