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 12/2023, 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 12/2023, Summit Downtown Inc generated $518.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $460.6k during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 9 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

2023

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.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Bob Conway
Chair
$0
Claire Toth
Treasurer
$0
Antonietta Lavecchia
Trustee
$0
Karen Schneider
Vice President
$0
Ray Merritt
Secretary
$0
Nora Radest
Mayor
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $61,850
All other contributions, gifts, grants, and similar amounts not included above$10,375
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$72,225
Total Program Service Revenue$447,275
Investment income $2,832
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 -$3,608
Miscellaneous Revenue$0
Total Revenue $518,724

Peer Organizations

Organization NameAssets
Pidc-Developement Management Corporation
Philadelphia, PA
$30,722,052
T R W I B Inc
Pittsburgh, PA
$29,290,759
Delaware River Waterfront Corporation
Philadelphia, PA
$19,823,036
Greater Philadelphia Tourism Marketing Corporation
Philadelphia, PA
$19,412,592
Greater Pittsburgh Convention & Visitors Bureau Inc
Pittsburgh, PA
$14,229,929
Insitech Inc
Warren, NJ
$14,466,949
Ridc Regional Growth Fund
Pittsburgh, PA
$17,522,772
Riverfront Development Corporation Of Delaware
Wilmington, DE
$3,658,097
Alleghenies Planning And Development Commission
Altoona, PA
$11,239,674
Trufund Financial Services Inc
New York, NY
$16,024,804
Sports Fans Coalition Ny Inc
Ronkonkoma, NY
$8,459,536
Carteret Business Partnership Inc
Carteret, NJ
$9,935,166
Nybdc Local Development Corporation
Albany, NY
$12,326,838
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc
Bethlehem, PA
$12,276,721
Choose New Jersey Inc
Newark, NJ
$8,239,156
Philadelphia Visitor Center Corporation
Philadelphia, PA
$7,331,890
Dauphin County Economic Development Corporation
Harrisburg, PA
$8,129,437
Structured Employment Economic Development Corporation
Bronx, NY
$6,558,823
Delaware Valley Industrial Resource Center
Philadelphia, PA
$6,840,008
Bucks County Conference & Visitors Bureau Inc
Newtown, PA
$6,785,070
Pennsylvania Dutch Tourist Bureau
Lancaster, PA
$5,942,495
Pa Irc Network Foundation
Williamsport, PA
$6,188,501
The Happy Valley Adventure Bureau
State College, PA
$6,039,710
Griffiss Local Development Corporation
Rome, NY
$6,476,737
Chester County Conference And Visitors Bureau
Kennett Square, PA
$5,557,003

Create an account to unlock the data you need.

or