Team Summit Association Inc

Analysis

Team Summit Association Inc is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in February 1989, 37 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Team Summit Association Inc reported income of $823k and spending of $689k, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $763k to $823k (+7.9%), an average of +1.9% a year. The sharpest change came in the year to June 2021, when income rose by 107%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Team Summit Association Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 80th percentile within NJ. Charities of a similar size with the same main cause include Wausaukee Rescue Squad Inc ($823k), Torrington Child Care Center Inc ($823k) and Jackson Council on Aging ($823k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m.