Summit Art Inc

Analysis

Summit Art Inc is a registered charity in United States, based in Lees Summit, MO. It received its IRS tax-exemption ruling in December 2008, 18 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Summit Art Inc reported income of $95k and spending of $75k, leaving 21% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income fell from $106k to $95k (-11%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 86%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Summit Art Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within MO. Charities of a similar size with the same main cause include Center on Contemporary Art ($95k), University High School Titan Regime NT Band Booster Association Inc ($95k) and T League RGT ($95k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. At year end it held assets of $39k against liabilities of $3,513, net assets of $35k.