Summit Foundation Inc

Analysis

Summit Foundation Inc is a registered charity in United States, based in Getzville, NY. It received its IRS tax-exemption ruling in March 1994, 32 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Summit Foundation Inc reported income of $242k and spending of $241k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $798k to $242k (-70%), an average of -26% a year. The sharpest change came in the year to June 2023, when income rose by 402%. Over the whole period it spent 86% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Summit Foundation Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Dubois Area United Way ($242k), Good Friends of the Lowcountry ($242k) and Milford Miami Ministries ($242k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $1.4m against liabilities of $137k, net assets of $1.3m.