Friends Of The Summit
- Assets
- $471.5k
- Revenue
- $109.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 06/2009
- Data as of
- 06/2024
- 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 06/2024, Friends Of The Summit generated $109.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $161.2k during the year ending 06/2024. 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
2024
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
WKTL, MUSIC ALIVE, WAPS, ATHENS, THE 330, CHENOT SCHOLARSHIP, SPISAK, STROUD FUND, SUMMIT NEXT
WELLNESS - UTILIZES THE HEALING POWER OF MUSIC AND MUSIC THERAPY TO IMPROVE MENTAL HEALTH AND WELL-BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Belgya Board Member | Trustee | 1 | $0 |
Nancy Brennan Board Member | Trustee | 1 | $0 |
Brenda Cummins Board Member | Trustee | 1 | $0 |
Cliff Deveny Board Member | Trustee | 1 | $0 |
Joe Feltes Board Member | Trustee | 1 | $0 |
Eliot Mostow Board 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 | $55,661 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,661 |
| Total Program Service Revenue | $41,349 |
| Investment income | $12,344 |
| 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 | $109,354 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| 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 | $32,277 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,100 |
| Fees for services: Accounting | $1,385 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,144 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,066 |
| Office expenses | $41,886 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,570 |
| 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 | $43,849 |
| Insurance | $1,254 |
| All other expenses | $0 |
| Total functional expenses | $161,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,888 |
| 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 | $71,564 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $471,452 |
| Accounts payable and accrued expenses | $499 |
| 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 | $7,421 |
| Total liabilities | $7,920 |
| Net assets without donor restrictions | $463,532 |
| 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 | $471,452 |