Summit Downtown Inc

Organization Overview

Summit Downtown Inc is located in Summit, NJ. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Summit Downtown Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Downtown Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Summit Downtown Inc generated $402.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $370.6k during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ENCOURAGE THE DEVELOPMENT AND IMPROVEMENT OF THIS BUSINESS COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMUNITY EVENTS,DISTRICT PROMOTION AND PROGRAMS DURING THE YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Nancy Adams
Employee
$86,094
Bob Conway
Chair
$0
Claire Toth
Treasurer
$0
Allison Daubel
Trustee
$0
Antonietta Lavecchia
Trustee
$0
Karen Schneider
Vice President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$6,553
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$6,553
Total Program Service Revenue$398,702
Investment income $271
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$2,992
Miscellaneous Revenue$0
Total Revenue $402,534

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Summit Downtown Inc has recieved totaling $619,556.

Awarding OrganizationAmount
$350,000
Paypal Charitable Giving Fund

Washington, DC

PURPOSE: General Support

$194,206
The Summit Foundation A Nj Nonprofit Corporation

Summit, NJ

PURPOSE: VARIOUS PROJECTS

$58,350
Goldman Sachs Philanthropy Fund

New York, NY

PURPOSE: ENVIRONMENT & ANIMAL PROTECTION

$15,000
Hiller Family Foundation Inc

Warren, NJ

PURPOSE: PROGRAM SUPPORT

$1,000
Hiller Family Foundation Inc

Warren, NJ

PURPOSE: PROGRAM SUPPORT

$1,000
View Grant Recipient Profile

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