Summits Education

Analysis

Summits Education is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 2015, 11 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 July 2023, Summits Education reported income of $4.1m and spending of $3.1m, leaving 24% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $3.0m to $4.1m (+35%), an average of +7.8% a year. The sharpest change came in the year to July 2021, when income rose by 215%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summits Education sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Beacon Hill Nursery School ($4.1m), Upchieve Inc ($4.1m) and University Health Care Foundation Inc ($4.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. Other salaries and wages came to $353k. At year end it held assets of $2.9m against liabilities of $364k, net assets of $2.5m. It reported 3 employees.