Summit Center Inc

Analysis

Summit Center Inc is a registered charity in United States, based in Getzville, NY. It received its IRS tax-exemption ruling in June 1978, 48 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Summit Center Inc reported income of $31.8m and spending of $31.6m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $28.0m to $31.8m (+14%), an average of +3.2% a year. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Center Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Girls Preparatory School Inc ($31.7m), Academy for Global Citizenship Charter School ($31.8m) and Cushman School Inc ($31.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $773k (2.4% of expenses). Other salaries and wages came to $21.4m. At year end it held assets of $20.7m against liabilities of $13.3m, net assets of $7.4m. It reported 615 employees.