Summit Downtown Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,266,411 | 1,160,021 | 106,390 | 3.4 | 12% |
| 2021 | 402,534 | 370,631 | 31,903 | 11.7 | 47% |
| 2022 | 439,678 | 452,933 | −13,255 | 9.3 | 0% |
| 2023 | 518,724 | 460,582 | 58,142 | 10.6 | 48% |
In its most recent public year (2023), this organization brought in $58,142 more than it spent. Its reserves stood at about 10.6 months of spending, up from 3.4 in 2020. Staff pay was 48% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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