The Summit Foundation a NJ Nonprofit Corporation

Analysis

The Summit Foundation a NJ Nonprofit Corporation is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in July 1976, 50 years ago. 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, The Summit Foundation a NJ Nonprofit Corporation reported income of $1.6m and spending of $1.5m, spending 96% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $758k to $1.6m (+105%), an average of +27% a year. The sharpest change came in the year to December 2021, when income rose by 96%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Summit Foundation a NJ Nonprofit Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within NJ. Charities of a similar size with the same main cause include Brock Hughes Free Clinic Inc ($1.6m), Junior United Soccer Association Inc ($1.6m) and Richmond Police Activities League ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% of the total. At year end it held assets of $19.4m against liabilities of $0, net assets of $19.4m.