College Summit Inc

Analysis

College Summit Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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 April 2023, College Summit Inc reported income of $13.7m and spending of $4.7m, leaving 66% of income unspent that year. Across the 4 years on record, from April 2020 to April 2023, income grew from $3.2m to $13.7m (+328%), an average of +62% a year. The sharpest change came in the year to April 2023, when income rose by 125%. Over the whole period it spent 63% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, College Summit Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 90th percentile within DC. Charities of a similar size with the same main cause include Burgundy Farm Country Day School Inc ($13.7m), Keystone Academy Charter School ($13.7m) and The Highlander Charter School ($13.6m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 91% and program service revenue 7.4% of the total. Compensation of current officers, directors and key employees was $548k (12% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $15.3m against liabilities of $2.5m, net assets of $12.8m. It reported 30 employees.