Summit Schools Inc

Analysis

Summit Schools Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in April 1999, 27 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 May 2024, Summit Schools Inc reported income of $1.5m and spending of $1.3m, spending 89% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $1.1m to $1.5m (+38%), an average of +8.4% a year. The sharpest change came in the year to May 2022, when income rose by 46%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Schools Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within IA. Charities of a similar size with the same main cause include Miller Endowment Incorporated ($1.5m), Friends of the Fromm Institute for Life-Long Learning ($1.5m) and Mohawk Valley Library System ($1.5m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 13% and program service revenue 84% of the total. Other salaries and wages came to $926k. At year end it held assets of $1.6m against liabilities of $461k, net assets of $1.1m. It reported 49 employees.