Civic Intelligence

Akron Area Arts Alliance

990 • Fiscal year 2023 • EIN 34-1841587

Jul 01, 2022 to Jun 30, 2023 • Filed on May 05, 2024

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

0.20x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

86th percentile

0.19x

Higher debt load relative to revenue than 86% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

95th percentile

$69,197

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 19.2% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

78th percentile

29%

Faster asset growth than 78% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

49th percentile

3.6%

Faster revenue growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$327,392

Up $73,493 (+29%) from 2022

Net Assets

Up

$260,601

Up $47,928 (+23%) from 2022

Liabilities

Up

$66,791

Up $25,565 (+62%) from 2022

Revenue

Up

$359,966

Up $12,387 (+3.6%) from 2022

Expenses

Down

$317,700

Down $37,152 (-10%) from 2022

Net Income

Up

$42,266

Up $49,539 (+681%) from 2022

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

2023

Assets$327,392
Liabilities$66,791
Net Assets$260,601

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

2023

Revenue$359,966
Expenses$317,700
Net Income$42,266
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 5, 2024
Return Version
2022v5.0
Gross Receipts
$376,075
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 artist launchpad-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 encourage broad comm

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$145,815$139,604▼ $6,211
Cash and Non-Interest-Bearing Accounts$39,783$130,314▲ $90,531
Savings and Temporary Cash Investments$44,607$39,628▼ $4,979
Accounts Receivable$10,124$8,558▼ $1,566
Investments Other Securities$6,501$7,157▲ $656
Prepaid Expenses and Deferred Charges$7,069$2,131▼ $4,938
Total Assets$253,899$327,392▲ $73,493
Liabilities
Other Liabilities$12,984$49,244▲ $36,260
Accounts Payable and Accrued Expenses$27,992$17,547▼ $10,445
Deferred Revenue$250--
Total Liabilities$41,226$66,791▲ $25,565
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$212,673$260,601▲ $47,928
Total Net Assets Fund Balance$212,673$260,601▲ $47,928
Total Liabilities and Net Assets / Fund Balance$253,899$327,392▲ $73,493

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$139,604$77,532$217,136
Other Land Buildings-$27,911$27,911

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$6,501-▲ $656-$7,157
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather MeekerExecutive DiFT$66,842$2,355$69,197

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$234,750
Program Service Revenue
$131,684
Investment Income
$21
Other Revenue
$-6,489
All Other Contributions
$190,522
Change in Net Assets
$42,266
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$174,972
Other Expenses$142,728
Total Fundraising Expense$40,638
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$69,850$17,025$6,026$92,901
Current Officers, Directors, Trustees, and Key Employees$23,066$23,066$23,065$69,197
Occupancy$35,015--$35,015
Fees for Services Other$11,373$17,100$40$28,513
Payroll Taxes$7,292$3,305$2,277$12,874
Information Technology$6,133$4,724-$10,857
Other Expenses$8,300$1,278$7,213$8,300
Advertising$4,850-$1,395$6,245
Depreciation Depletion-$6,211-$6,211
Fees for Services Accounting-$4,759-$4,759
All Other Expenses-$775$622$1,397
Office Expenses-$1,285-$1,285
Conferences and Meetings$768$312-$1,080
Total Functional Expenses$197,222$79,840$40,638$317,700
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$16,109
Fundraising Gross Income$6,880
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Arts Alive$35,912$6,880$4,689$2,191
Total Events$35,912$6,880$16,109$-9,229
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$44,102
Security Deposits$5,142
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
2024-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Meeker
Formed
1991
Legal Domicile
Oh
Voting Board Members
18
Independent Board Members
18
Employees
7
Volunteers
34

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 work on numerous committees. Program volunteers lead programs and workshops such as artist launchpad and professional practice, serve 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 its artist care programs (artist launchpad, professional practice, and one-to-one), which provide entrepreneurial and skill-building sessions from local artists and content experts to support artists as they develop their practices. Participating artists represent multiple mediums including theatre, dance and visual art. Programs are offered on a sliding scale, and most offer scholarships to participants who require financial support. Summit artspace also collaborates with local artists and arts/culture organizations to offer rehearsal, meeting, instruction and 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.

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/PersonNm16KAREN STARR
IRS990/Form990PartVIISectionAGrp/PersonNm17MICHAEL STEEL
IRS990/Form990PartVIISectionAGrp/PersonNm18ROBERT TRATTNER
IRS990/Form990PartVIISectionAGrp/PersonNm19LARRY TUCKER
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IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE, RES
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19SECRETARY
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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/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 ITS ARTIST CARE PROGRAMS (ARTIST LAUNCHPAD, PROFESSIONAL PRACTICE, AND ONE-TO-ONE), WHICH PROVIDE ENTREPRENEURIAL AND SKILL-BUILDING SESSIONS FROM LOCAL ARTISTS AND CONTENT EXPERTS TO SUPPORT ARTISTS AS THEY DEVELOP THEIR PRACTICES. PARTICIPATING ARTISTS REPRESENT MULTIPLE MEDIUMS INCLUDING THEATRE, DANCE AND VISUAL ART. PROGRAMS ARE OFFERED ON A SLIDING SCALE, AND MOST OFFER SCHOLARSHIPS TO PARTICIPANTS WHO REQUIRE FINANCIAL SUPPORT. SUMMIT ARTSPACE ALSO COLLABORATES WITH LOCAL ARTISTS AND ARTS/CULTURE ORGANIZATIONS TO OFFER REHEARSAL, MEETING, INSTRUCTION AND SPACE AT AN IN-KIND OR REDUCED RATE.
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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