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Summit Terrace Development Corporation FY2023 filing

Tax-deductible

Akron, OH501(c)(3)Since 1995Mental HealthEIN 34-1803248Revenue $147K in FY2023

On file with the IRSchcaddiction.org725 E Market St, 44305-2421 · Akron, OHTax-exempt since Sep 1995Publicly supported charity — 170(b)(1)(A)(vi)

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To provide safe, decent, and affordable housing to single men and women with a chronic disability in akron, oh.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $38K a year · 26% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$29K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$147K
+3% vs prior year
Spent
$200K
To programs
83%
Net assets
$694K
By yearFY2020–FY2025
Revenue
$147K
FY2023▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$147K
FY2021$152K
FY2022$143K
FY2023$147K
FY2024$143K
FY2025$150K
Expenses
$200K
FY2023-0.4%
Tap a bar for its year
Expenses by fiscal year
FY2020$168K
FY2021$183K
FY2022$201K
FY2023$200K
FY2024$178K
FY2025$179K
Net assets
$694K
FY2023▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$836K
FY2021$804K
FY2022$747K
FY2023$694K
FY2024$659K
FY2025$630K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $167K Management & general 17% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Janet Wagner
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jackie Hemsworth
Vice Preside
$0Pt VII · Sec A
Connie Porter
Secretary/ T
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Summit Terrace Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers safe, affordable housing to single adults with chronic disabilities in Akron.

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Provided by the organization

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1 program · $167K · in their own filed words · FY2023
01

To provide safe, decent and affordable housing to single men and women with a chronic disability in akron, oh.

$167Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$147K
Ln 12
Fees for servicesLn 2g$143K
Gifts and grantsLn 1h$4K
Investment incomeLn 3$11
Money outPt IX
$200K
Ln 25
Programscol B$167K
Managementcol C$33K
Owns and owesPt X
$694K
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$723K
LiabilitiesLn 26$29K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Government grantsLn 1e$4K
Fees for servicesLn 2g$143K
Investment incomeLn 3$11
Total revenueLn 12$147K
Assets in detailPt X, end of year
CashLn 1$1K
Cash and savings togetherLn 1–2$1K
Land, buildings, equipmentLn 10c$635K
Other assetsLn 15$82K
Total assetsLn 16$723K
LiabilitiesLn 26$29K
Net assetsLn 32$694K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1K$1K
Land, buildings, equipmentLn 10c$667K$635K
Total assetsLn 16$766K$723K
LiabilitiesLn 26$19K$29K
Net assetsLn 32$747K$694K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$11K$11K
Legal feesLn 11b$313$313
Accounting feesLn 11c$10K$10K
Office expensesLn 13$196$196
OccupancyLn 16$24K$24K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$88K$77K$11K
All other expensesLn 24e$10K$9K$681
Total functional expensesLn 25$200K$167K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $150K$179K−$29K$630K 990 PDF
FY2024 $143K$178K−$35K$659K 990 PDF
FY2023 Viewing $147K$200K−$53K$694K 990 PDF
FY2022 $143K$201K−$58K$747K 990 PDF
FY2021 $152K$183K−$31K$804K 990 PDF
FY2020 $147K$168K−$20K$836K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $146,912 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,000$4,000
I-9 Program service revenuePrior year $139,047$142,901
I-10 Investment incomePrior year $11$11
I-11 Other revenue$0
I-12 Total revenuePrior year $143,058$146,912
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $200,668$199,810
I-18 Total expensesPrior year $200,668$199,810
I-19 Revenue less expensesPrior year −$57,610−$52,898
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $146,912 across 5 lines filed
VIII-1e Government grants$4,000
VIII-1h Total contributions, gifts and grants$4,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $142,901$142,901
VIII-3 Investment incomeExcluded from tax $11$11
VIII-12 Total revenueRelated to mission $142,901 · Excluded from tax $11$146,912
Part IX · Statement of functional expenses $199,810 across 9 lines filed
IX-11a Management feesManagement $10,836$10,836
IX-11b Legal feesManagement $313$313
IX-11c Accounting feesManagement $10,378$10,378
IX-13 Office expensesManagement $196$196
IX-16 OccupancyPrograms $23,755$23,755
IX-22 Depreciation, depletion and amortizationPrograms $41,250$41,250
IX-23 InsurancePrograms $15,930$15,930
IX-24 Other expenses (24a–d)Programs $76,732 · Management $10,793$87,525
IX-24e All other expensesPrograms $8,946 · Management $681$9,627
IX-25 Total functional expensesPrograms $166,613 · Management $33,197 · Fundraising $0$199,810
Part X · Balance sheet $723,268 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,102$1,330
X-4 Accounts receivableStart of year $3,164$5,830
X-10c Land, buildings and equipment, netStart of year $666,858$634,501
X-15 Other assetsStart of year $94,735$81,607
X-16 Total assetsStart of year $765,859$723,268
X-17 Accounts payable and accrued expensesStart of year $14,895$25,944
X-19 Deferred revenueStart of year $1,695$1,000
X-25 Other liabilitiesStart of year $2,555$2,508
X-26 Total liabilitiesStart of year $19,145$29,452
X-27 Net assets without donor restrictionsStart of year −$718,186−$771,084
X-28 Net assets with donor restrictionsStart of year $1,464,900$1,464,900
X-32 Total net assets or fund balancesStart of year $746,714$693,816
X-33 Total liabilities and net assetsStart of year $765,859$723,268
Part XI · Reconciliation of net assets $693,816 net assets at year end
XI-1 Total revenue$146,912
XI-2 Total expenses$199,810
XI-3 Revenue less expenses−$52,898
XI-4 Net assets at start of year$746,714
XI-10 Net assets at end of year$693,816

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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