Overview
What is Summit Downtown Inc?
Summit Downtown Inc, located at 18 Bank Street, Summit, New Jersey 07901, is a nonprofit organization with a dedicated team of three individuals. Their primary focus is on promoting and enhancing their local business community. They accomplish this by organizing various community events and initiatives throughout the year, contributing to the district's development and improvement. The organization's mission is to support and strengthen the business community, ensuring its growth and prosperity. Their activities primarily involve planning and executing events that foster a sense of unity and progress within the district.
Is Summit Downtown Inc legitimate?
Summit Downtown Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Summit Downtown Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $221,240
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What is the mission statement of Summit Downtown Inc?
Summit Downtown Inc's mission is centered around fostering the growth and enhancement of its business community. This is achieved through various means, such as organizing community events, promoting the district, and implementing programs throughout the year. The primary goal is to stimulate development and improvement within the business sector, ultimately contributing to its overall prosperity.
What is the revenue of Summit Downtown Inc?
Summit Downtown Inc's revenue in 2023 was $518,724.
Who are the executives of Summit Downtown Inc and what are their salaries?
The average compensation at Summit Downtown Inc during 2023 was $110,620. There are 2 employees and 20 volunteers at Summit Downtown Inc.
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Where can I find the form 990 for Summit Downtown Inc?
Summit Downtown Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Summit Downtown Inc
Summit Downtown Inc, as a nonprofit organization, is committed to fostering the growth and enhancement of its business community. Its mission, in essence, is to stimulate development and improvements within this particular business district. This is achieved through the organizing of community events, the promotion of the district, and the execution of various programs throughout the year. By taking on these responsibilities, Summit Downtown Inc plays a vital role in bolstering the overall well-being and progress of the business community it serves.
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Impact
October, 2024
Summit Downtown Inc plays a crucial role in fostering the growth and enhancement of the business community in Summit, NJ. Through various community events and promotional programs, the organization actively works to attract more visitors and residents to local businesses. This, in turn, stimulates economic activity and creates a vibrant atmosphere that benefits entrepreneurs and consumers alike.
By organizing events throughout the year, Summit Downtown Inc not only provides entertainment and engagement for the community but also highlights the unique offerings of local businesses, helping to strengthen their presence in the area. Their focus on district promotion elevates the visibility of Summit’s commercial landscape, contributing to a thriving business environment that appeals to both customers and potential new businesses.
Ultimately, their efforts lead to improved community cohesion, increased foot traffic in the downtown area, and a better quality of life for residents, all of which underscore the significant positive impact Summit Downtown Inc has on the local economy and community development.
This information is meant to be a general summary of Summit Downtown Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $2,832
- Program Service Revenue: $447,275
- Gross Receipts: $523,149
Assets and Liabilities:
- Total Assets: $349,234
- Total Liabilities: $0
- Net Assets: $349,234
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TAX ASSESSMENTS
Revenue
$270,557
COMMUNITY PROJECTS
Revenue
$176,718
Organization Details
Founding Year
1986
Principal Officer
Robert Conway
NTEE Category
Code: S300 - Community improvement
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