Summit Academy Management

Analysis

Summit Academy Management is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Summit Academy Management reported income of $49.0m and spending of $51.8m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $54.0m to $49.0m (-9.2%), an average of -2.4% a year. The sharpest change came in the year to June 2022, when income rose by 18%. 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 Management sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Arizona Leadership Foundation Inc ($49.0m), Blair Academy ($49.0m) and Kipp Chicago Schools ($48.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.2m (2.3% of expenses). Other salaries and wages came to $24.8m. At year end it held assets of $31.4m against liabilities of $5.4m, net assets of $26.1m. It reported 847 employees.