Summerfair Foundation Inc
- Assets
- $940.5k
- Revenue
- $498.0k
- Investments
- $560.1k
- Employees
- 1
- Location
- Cincinnati, OH
- Founding
- 11/1972
- Data as of
- 09/2023
- EIN
- 23-7229462
Organization Overview
Summerfair Foundation Inc is located in Cincinnati, OH. The organization was established in 1972. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is the central organization for a national or regional group of organizations. Summerfair Foundation 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 09/2023, Summerfair Foundation Inc generated $498.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $485.8k during the year ending 09/2023. While expenses have increased by 3.4% per year over the past 8 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.
Since 2019, Summerfair Foundation Inc has awarded 15 individual grants totaling $195,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING AND PROMOTING ARTISTS AND THE ARTS THROUGH EVENTS AND OTHER ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINE ARTS & CRAFTS FESTIVAL IS A NATIONALLY RECOGNIZED 3 DAY OUTDOOR EVENT FEATURING OVER 300 EXHIBITORS FROM ACROSS THE CONTINENT, ENTERTAINMENT BY 100+ LOCAL PERFORMERS, ART DEMONSTRATIONS, AND YOUTH ART ACTIVITIES; IT ATTRACTS 30,000 VISITORS ANNUALLY.
COMMUNITY ART PROGRAM INCLUDES COMMUNITY-BASED EXHIBITS AND EVENTS, AS WELL AS THE ALLOCATION OF FUNDS GENERATED BY THE ORGANIZATION TO SMALL VISUAL AND PERFORMING ARTS ORGANIZATIONS FOR PROGRAMS DESIGNED TO IMPROVE ACCESS TO THE ARTS IN THE AREA.
SUPPORT FOR INDIVIDUAL ARTISTS INCLUDE EXHIBITIONS OF REGIONAL ESTABLISHED AND EMERGING ARTISTS, AID TO INDIVIDUAL VISUAL ARTISTS, AS WELL AS FUNDING FOR PROGRAMS & SCHOLARSHIPS DESIGNED TO ENCOURAGE AND PREPARE HIGH SCHOOL STUDENTS CONSIDERING HIGHER EDUCATION IN ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jayne Utter Executive Director | OfficerTrustee | 45 | $68,559 |
Jill Conway President | OfficerTrustee | 5 | $0 |
Jeffrey Nicholas VP Of Administration | OfficerTrustee | 5 | $0 |
Donna Binzer VP Of Awards | OfficerTrustee | 3 | $0 |
Luke Varland VP Of Finance | OfficerTrustee | 1.5 | $0 |
Kelly Reilman VP Of Membership | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,315 |
| Total Program Service Revenue | $429,955 |
| Investment income | $13,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $498,021 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,000 |
| Grants and other assistance to domestic individuals. | $21,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,303 |
| Compensation of current officers, directors, key employees. | $10,095 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $5,485 |
| Other employee benefits | $0 |
| Payroll taxes | $5,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,159 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,837 |
| Advertising and promotion | $36,269 |
| Office expenses | $968 |
| Information technology | $590 |
| Royalties | $825 |
| Occupancy | $50,000 |
| Travel | $500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,367 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,095 |
| All other expenses | $33,362 |
| Total functional expenses | $485,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,404 |
| 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 | $560,055 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $940,459 |
| Accounts payable and accrued expenses | $3,797 |
| 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 | $3,797 |
| Net assets without donor restrictions | $0 |
| 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 | $936,662 |
| Total liabilities and net assets/fund balances | $940,459 |
Grants Awarded
Over the last fiscal year, Summerfair Foundation Inc has awarded $49,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CINCINNATI ARTS ASSOCIATION PURPOSE: AID THE ORGANIZATION | $12,000 |
CLIFTON CULTURAL ARTS CENTER PURPOSE: AID THE ORGANIZATION | $25,000 |
ARTWORKS PURPOSE: AID THE ORGANIZATION | $12,000 |