Summit Art Inc
- Assets
- $22.3k
- Revenue
- $56.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Lees Summit, MO
- Founding
- 12/2008
- Data as of
- 12/2021
- EIN
- 41-2147766
Organization Overview
Summit Art Inc is located in Lees Summit, MO. The organization was established in 2008. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Art 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 Art Inc generated $56.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.3%) each year. All expenses for the organization totaled $56.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ART ENRICHMENT TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ART CLASSES, DISPLAYED ARTWORK AT ST LUKES HOSPITAL, GAVE SCHOLARSHIP TO YOUNG ARTISTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jody Fristoe Director | 0 | $18,000 | |
Carol Wheat Secretary | Officer | 0 | $0 |
Teddy Jackson Director | Officer | 0 | $0 |
Laura Wheat Treasurer | Officer | 0 | $0 |
Nicole Staab Vice President | Officer | 0 | $0 |
Sharon Wagner President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,283 |
| Fundraising events | $15,478 |
| Related organizations | $0 |
| Government grants | $9,240 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,457 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,458 |
| Total Program Service Revenue | $22,706 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $18,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,085 |
| Office expenses | $537 |
| Information technology | $414 |
| Royalties | $0 |
| Occupancy | $9,404 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,346 |
| All other expenses | $7,521 |
| Total functional expenses | $56,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,310 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,310 |
| Accounts payable and accrued expenses | $190 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $190 |
| Net assets without donor restrictions | $22,120 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,310 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Summit Art Inc has recieved totaling $7,236.
| Awarding Organization | Amount |
|---|---|
Hb Oppenheimer Foundation Kansas City, MO PURPOSE: GENERAL SUPPORT | $7,140 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $96 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Puerto Rican Cultural Center Chicago, IL | $9,175,566 | $9,769,703 |
United States Artists Inc Chicago, IL | $40,639,117 | $6,830,121 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
Applied Information Management Institute Omaha, NE | $8,071,442 | $4,851,557 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
Wichita Art Museum Inc Wichita, KS | $12,198,968 | $4,522,280 |
American College Of Occupational And Environmental Medicine Elk Grove Village, IL | $5,115,240 | $3,683,433 |
Winnetka Community House Winnetka, IL | $15,269,238 | $4,423,430 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Brucemore Inc Cedar Rapids, IA | $18,035,244 | $1,902,736 |