Summit Project

Analysis

Summit Project is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in April 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Project reported income of $99k and spending of $132k, spending 134% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $82k to $99k (+21%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Summit Project sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 30th percentile within ME. Charities of a similar size with the same main cause include Friends of New Jersey Heritage ($99k), Hamilton County Theatre Guild Inc ($99k) and Gallery 263 Inc ($99k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 36% of the total. At year end it held assets of $72k against liabilities of $0, net assets of $72k.