Summit Performance Indianapolis Inc

Analysis

Summit Performance Indianapolis Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in July 2018, 8 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 August 2023, Summit Performance Indianapolis Inc reported income of $135k and spending of $137k, spending 102% of its income. Across the 3 years on record, from August 2021 to August 2023, income grew from $70k to $135k (+94%), an average of +39% a year. The sharpest change came in the year to August 2022, when income rose by 46%. Over the whole period it spent 114% 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 Performance Indianapolis Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within IN. Charities of a similar size with the same main cause include Smoot Theater Corporation ($135k), Los Angeles Police Emerald Society Pipes and Drums Inc ($135k) and Southside Theatre Guild ($135k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. At year end it held assets of $16k against liabilities of $10k, net assets of $5,405.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.