Summit Academy Inc

Analysis

Summit Academy Inc is a registered charity in United States, based in S Abingtn TWP, PA. It received its IRS tax-exemption ruling in March 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Summit Academy Inc reported income of $713k and spending of $678k, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $465k to $713k (+53%), an average of +11% a year. The sharpest change came in the year to August 2022, when income rose by 57%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Academy Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within PA. Charities of a similar size with the same main cause include Folds of Honor Foundation ($713k), Association for Academic Surgery Inc ($713k) and Wildflower Foundation ($712k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 9.6% and program service revenue 90% of the total. Other salaries and wages came to $408k. At year end it held assets of $1.6m against liabilities of $663k, net assets of $954k. It reported 35 employees.