Summit Luminary Fund

Analysis

Summit Luminary Fund is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in April 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Summit Luminary Fund reported income of $123k and spending of $126k, spending 102% of its income. Across the 2 years on record, from March 2023 to March 2024, income fell from $137k to $123k (-9.9%), an average of -9.9% a year. Over the whole period it spent 97% 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 Luminary Fund sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 50th percentile within NJ. Charities of a similar size with the same main cause include Davis Public Schools Education Foundation ($123k), Hudsonville Public Schools Educational Foundation ($123k) and Steuben Arc Foundation ($123k).

On its Form 990-EZ for the period ending March 2024, revenue came from contributions and grants 8.1% of the total. At year end it held assets of $20k against liabilities of $0, net assets of $20k.