Summit School Inc

Analysis

Summit School Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in September 1942, 84 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 June 2023, Summit School Inc reported income of $18.1m and spending of $18.8m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.5m to $18.1m (+3.3%), an average of +0.8% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit School Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Texas Southern University Foundation ($18.1m), Naval War College Foundation Inc ($18.1m) and Fountain Valley School of Colorado ($18.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.3% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $769k (4.1% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $43.5m against liabilities of $11.8m, net assets of $31.7m. It reported 343 employees.