Summit Bank Foundation

Analysis

Summit Bank Foundation is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in June 1999, 27 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 (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, Summit Bank Foundation reported income of $209k and spending of $276k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $318k to $209k (-34%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 382%. Over the whole period it spent 93% 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 Bank Foundation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 57th percentile within CA. Charities of a similar size with the same main cause include You First Foundation ($209k), Friends of School of the Art Foundation ($209k) and Alabama Home Builders Foundation ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m.