SUMMIT DOWNTOWN INC (EIN 222852638) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

ROBERT CONWAY

Phone

9082776100

Tax Period

2023-01-01 to 2023-12-31

SUMMIT DOWNTOWN INC, founded in 1986, is a small nonprofit in the Community Improvement sector that reported $519K in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $461K left a modest 11% surplus.

Mission

TO ENCOURAGE THE DEVELOPMENT AND IMPROVEMENT OF THIS BUSINESS COMMUNITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $72,225

Program Service Revenue $447,275

Investment Income $2,832

Other Revenue $-3,608

TOTAL REVENUE $518,724

Expense Breakdown

Grants Paid $0

Salaries & Benefits $221,240

Fundraising Expenses $44,237

Program Expenses $357,894

Other Expenses $239,342

TOTAL EXPENSES $460,582

Year-over-Year Comparison

	2023	2022	Change
Revenue	$518,724	$439,678	+0.2%
Expenses	$460,582	$452,933	+0.0%
Net Income	$58,142	$-13,255	-5.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB CONWAY	CHAIR	5.00	Director	$0	$0	$0
CLAIRE TOTH	TREASURER	5.00	Director	$0	$0	$0
ANTONIETTA LAVECCHIA	TRUSTEE	2.00	Director	$0	$0	$0
KAREN SCHNEIDER	VICE PRESIDENT	2.00	Director	$0	$0	$0
RAY MERRITT	SECRETARY	2.00	Director	$0	$0	$0
NORA RADEST	MAYOR	2.00	Director	$0	$0	$0
GREG VARTAN	COUNCIL PERSON	2.00	Director	$0	$0	$0
MICHAEL ROGERS	COUNCIL PERSON	2.00	Director	$0	$0	$0
DAVID BERNAT	TRUSTEE	2.00		$0	$0	$0
NANCY ADAMS	EMPLOYEE	40.00	Key Emp	$0	$0	$0
ANTHONY MELCHIONNA	TRUSTEE	2.00	Director	$0	$0	$0
BETH WELSH	TRUSTEE	2.00	Director	$0	$0	$0
LISA ALLEN	COUNCIL PERSON	2.00	Director	$0	$0	$0
LESLIE E HERMAN	TRUSTEE	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$518,724	$460,582	$407,376	$58,142
2022	$439,678	$452,933	$349,234	$-13,255
2021	$402,534	$370,631	$362,489	$31,903
2020	$1,266,411	$1,160,021	$330,586	$106,390
2019	$318,051	$335,036	$224,196	$-16,985
2018	$451,318	$354,527	$242,886	$96,791

SUMMIT DOWNTOWN INC