Friends of the Summit

Analysis

Friends of the Summit is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2024, Friends of the Summit reported income of $109k and spending of $161k, spending 147% of what it took in. Across the 6 years on record, from July 2019 to June 2024, income fell from $313k to $109k (-65%), an average of -19% a year. The sharpest change came in the year to July 2021, when income dropped by 32%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Summit sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 40th percentile within OH. Charities of a similar size with the same main cause include World Outreach ($109k), St Johns Youth Baseball Inc ($109k) and Tear Down the Walls Ministries Inc ($109k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 51% and program service revenue 38% of the total. At year end it held assets of $471k against liabilities of $7,920, net assets of $464k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.