Summit Area Economic Growth Inc
- Assets
- $79.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Summit, SD
- Founding
- 03/2015
- Data as of
- 12/2022
- EIN
- 20-1541314
Organization Overview
Summit Area Economic Growth Inc is located in Summit, SD. The organization was established in 2015. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Area Economic Growth 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 12/2022, Summit Area Economic Growth Inc generated $20.5k 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 (25.7%) each year. All expenses for the organization totaled $14.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (22.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROMOTE GROWTH IN THE SUMMIT AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Kneeland President | 1 | $0 | |
Tim Gapp Vice President | 1 | $0 | |
Kathleen Quale Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,806 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $4,535 |
| Net Income from Gaming & Fundraising | $5,166 |
| Other Revenue | $2,971 |
| Total Revenue | $20,478 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $1,200 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $4,118 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $8,685 |
| Total expenses | $14,003 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $79,671 |
| Other assets | $0 |
| Total assets | $79,671 |
| Total liabilities | $0 |
| Net assets or fund balances | $79,671 |