Friends Of The Summit
- Assets
- $484.1k
- Revenue
- $141.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 06/2009
- Data as of
- 07/2022
- EIN
- 26-4312124
Organization Overview
Friends Of The Summit is located in Akron, OH. The organization was established in 2009. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Summit 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 07/2022, Friends Of The Summit generated $141.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $162.1k during the year ending 07/2022. While expenses have increased by 2.3% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE FUTURE OF THE SUMMIT AS A PREMIER PUBLIC MEDIA ORGANIZATION BY ENHANCING FINANCIAL SUPPORT, PROMOTING COMMUNITY INTEREST, AND PROVIDING ADVICE AND RECOMMENDATIONS TO STATION MANAGEMENT AND ITS LICENSE HOLDER
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEVATE - CAPITAL CAMPAIGN TO RAISE FUNDS TO SUPPORT A MAJOR STATION MOVE AND NEW AND EXPANDED MUSIC AND COMMUNITY-BASED PROGRAMMING
ROCK RECOVERY - ONLINE RADIO LISTENING EXPERIENCE TO EMPOWER ENTERTAIN THOSE SUFFERING FROM ADDICTION WHILE ENHANCING SELF MOTIVIATION
KID JAM- HELPING YOUNG MUSICIANS IN OUR LOCAL SCHOOLS REALIZE THEIR DREAMS AND LEARN THE JOYS OF PLAYING AN INSTRUMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Platt Vice Chair | OfficerTrustee | 1 | $0 |
Cheryl Mcmillan Chair | OfficerTrustee | 1 | $0 |
Cliff Deveny Treasurer | OfficerTrustee | 1 | $0 |
Erin Driscoll Secretary | OfficerTrustee | 1 | $0 |
David Glass Member | Trustee | 1 | $0 |
Mark Belgya Member | Trustee | 1 | $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 | $41,048 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,048 |
| Total Program Service Revenue | $88,868 |
| Investment income | $11,042 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $140,958 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,499 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $186 |
| Fees for services: Accounting | $1,385 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,701 |
| Office expenses | $30,968 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,964 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,469 |
| Insurance | $2,209 |
| All other expenses | $3,914 |
| Total functional expenses | $162,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $333,608 |
| 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 | $150,494 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $484,102 |
| Accounts payable and accrued expenses | $0 |
| 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 | $4,555 |
| Total liabilities | $4,555 |
| Net assets without donor restrictions | $479,547 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $484,102 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Friends Of The Summit has recieved totaling $38,535.
| Awarding Organization | Amount |
|---|---|
Akron Community Foundation Akron, OH PURPOSE: TO SUPPORT THE MARILYN STROUD MUSIC ALIVE PROGRAM AT THE SUMMIT | $26,715 |
Stark Community Foundation Inc Canton, OH PURPOSE: PROGRAM SUPPORT | $11,700 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $120 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hancock Rural Telephone Corporation Greenfield, IN | $147,768,424 | $51,230,558 |
Foothills Rural Telephone Cooperative Corp Inc Staffordsville, KY | $122,987,128 | $34,205,893 |
Merit Network Inc Ann Arbor, MI | $191,780,386 | $28,602,952 |
Mountain Rural Telephone Cooperative Corporation West Liberty, KY | $142,216,155 | $30,956,573 |
Peoples Rural Telephone Cooperative Corporation Inc Mckee, KY | $99,458,138 | $24,354,512 |
Keystone Initiative For Network Based Education & Research Lititz, PA | $86,518,752 | $6,204,433 |
Daviess-Martin County Rural Telephone Corporation Montgomery, IN | $38,835,355 | $7,744,077 |
Wabash Mutual Telephone Co Celina, OH | $16,675,060 | $7,819,409 |
Bascom Mutual Telephone Co Bascom, OH | $15,916,030 | $4,629,697 |
Spruce Knob Seneca Rocks Telephone Inc Riverton, WV | $9,084,789 | $3,420,037 |
Cable Co-Op Oberlin, OH | $1,941,667 | $2,843,130 |
Indiana Telephone Relay Access Corp For The Hearing & Speech Impaired Indianapolis, IN | $10,657,084 | $3,011,868 |