Summit Speech School

Analysis

Summit Speech School is a registered charity in United States, based in New Providence, NJ. It received its IRS tax-exemption ruling in June 1970, 56 years ago. 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 Speech School reported income of $5.7m and spending of $4.4m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.3m to $5.7m (+31%), an average of +6.9% a year. The sharpest change came in the year to June 2021, when income rose by 37%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Summit Speech School sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include American Society of Plant Biologists ($5.7m), Iuoe and Pipe Line Contractors Assoc Natl Pipe Line Training Fund ($5.7m) and Gluten Intolerance Group of North America ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $293k (6.7% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $10.0m against liabilities of $400k, net assets of $9.6m. It reported 73 employees.