Summit Artspace EIN 34-1841587

Summit Artspace FY2023 filing

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Connects local artists with space, programs, and resources to help them succeed creatively and professionally. For fiscal year 2023 it reported $360K in revenue, $318K in expenses, and $261K in net assets.Pt I

Founded
1991
Type
Public charity (501(c)(3)) · Arts & Culture
Location
Akron, OH
Website
www.summitartspace.org
Filings
5 on file (2020–2023)
Revenue
$360KFY2023
Expenses
$318K
Net assets
$261K
People
20
Filings
5
Updates
0
More identity details & actions ⌄
EIN  34-1841587 Public charity (501(c)(3)) Akron, OH Founded 1991
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Connects local artists with space, programs, and resources to help them succeed creatively and professionally.
Leadership
Heather Meeker · Executive Di · $67K
Money in and out
$360K revenue, $318K expenses
Bottom line
62% program efficiency
Where the money goes · FY2023
Total revenue
$360K
Pt VIII · Ln 12
Total expenses
$318K
Pt IX · Ln 25
Net assets
$261K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $42K
Where spending went · Part IX cols B–D
Program services $0.62 Management & general $0.25 Fundraising $0.13
Program efficiency
62%
of spending reaches programs
Operating runway
6.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+12%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$360K
FY2023▲ +4%
Expenses
$318K
FY2023▼ -10%
Total assets
$327K
FY2023▲ +29%
Total liabilities
$67K
FY2023▲ +62%
Total revenue
$360K
Pt VIII · Ln 12
Total expenses
$318K
Pt IX · Ln 25
Net assets
$261K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$42K
Total assetsPt X · Ln 16$327K
Program-expense ratioPt IX · col B62%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

3 program services account for $197K of program spending, described in the organization's own filed words · FY2022.
01

Summit Artspace Is Home to Five Galleries

The taylor main gallery, intersections gallery, welcome gallery, horizons gallery and forum gallery. These galleries host over 25 exhibitions a year, featuring local artists and engaging thousands of visitors, both in-person and virtually.

$76Kprogram expense
02

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…

$72Kprogram expense
03

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.

$50Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummit Artspace
EINHdr · item D34-1841587
Principal addressHdr · item CAkron, OH
WebsiteHdr · item Jwww.summitartspace.org
Year of formationHdr · item L1991
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A20)
Ruling yearIRS BMFMar 1998

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$66,842Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Heather Meeker’s $70K as Exec. Dir.,r is at the 65th percentile of top reported officer pay among 2213 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Heather Meeker$70,452$68,466$66,842$67,577
Megann Eberhart Resigned$62,500
Kamelia Fisher$60,346
Natalie Grieshammer-Patrick$2,710

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$235K · 65%
Program service revenue$132K · 37%
Contributions & grants65%$235K
Program service revenue37%$132K
Investment income$21
— government grantsLn 1e$15K
Total revenueLn 12$360K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.62 Management & general $0.25 Fundraising $0.13
Program services62%$197K
Management & general25%$80K
Fundraising13%$41K
Total functional expensesLn 25$318K

Balance Sheet

Part X · end of year
CashLn 1$170K
Total assetsLn 16$327K
Total liabilitiesLn 26$67K
Total net assetsLn 32$261K
Months of cash on handcomputed6.4

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $177K · Operating expenses (Pt IX) $318K · Less non-cash grants $8K · Cash operating expenses/yr $309K
6.9 months
Where the money goes
Program services
Program services $197K · Total expenses $318K
62%
Management & General
Management & general $80K · Total expenses $318K
25%
Fundraising
Fundraising $41K · Total expenses $318K
13%
Cost to raise $1
Fundraising expense (3-yr avg) $21K · Solicited contributions (3-yr avg) $170K
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $235K · Total revenue $360K
65%
Government reliance
Government grants $15K · Total revenue $360K
4%
Earned-income share
Program service revenue $132K · Total revenue $360K
37%
Investment reliance
Investment income $21 · Total revenue $360K
<0.01%
Program self-sufficiency
Program service revenue $132K · Total expenses $318K
41%
Growth & trend
Revenue growth (YoY)
This year $360K · Prior year $348K
+4%
Net-asset trend (YoY)
End of year $261K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $360K · Expenses $318K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $327K
Net-asset ratio
Net assets $261K · Total assets $327K
80%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $7K · Total assets (Pt X, ln 16) $327K
2%
People & payroll
Highest Reported Total Compensation
Individual Heather Meeker · Reported title EXECUTIVE DI · Highest reported compensation $67K · Total expenses $318K
21%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $175K · Total expenses $318K
55%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 62%
Overhead ratio 25%
Fundraising cost ratio 17%
Revenue growth 4%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$1K
Grants paid · 15 grants · $323K · 2023–2024
Moore-DunsonFY2024$70,669
Akron Black Artist GuildFY2024$36,332
MakikisartFY2024$20,500
Clapp for ArtFY2024$8,095
Art X LoveFY2024$7,557
Akron Honey CompanyFY2024$7,050
Market Place ManagementFY2024$5,400
Inspiring CanvasesFY2024$5,020
MooredunsonFY2023$68,394
Akron Black Artist GuildOH · FY2023$34,489
WorkstudioFY2023$17,792
Inspiring CanvasesFY2023$15,437
Fuse MediumFY2023$11,600
Clapp for ArtFY2023$7,617
Wandering AestheticsFY2023$7,452

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$823K revenue · ⤓ 990 PDF
FY2023$360K revenue · viewing · ⤓ 990 PDF
FY2022$348K revenue · ⤓ 990 PDF
FY2021$242K revenue · ⤓ 990 PDF
FY2020$165K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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