Summit Area YMCA

Analysis

Summit Area YMCA is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in August 1953, 73 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Summit Area YMCA reported income of $18.6m and spending of $16.6m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.4m to $18.6m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 105%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Summit Area YMCA sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include Communication Service for the Deaf Inc ($18.6m), Saguaro Foundation Community Home Program ($18.6m) and Youth Service Bureau of Illinois Valley Incorporated ($18.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $1.2m (7.2% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $48.0m against liabilities of $16.5m, net assets of $31.5m. It reported 720 employees.