Summit Charter School Foundation Inc

Analysis

Summit Charter School Foundation Inc is a registered charity in United States, based in Cashiers, NC. It received its IRS tax-exemption ruling in March 1998, 28 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 June 2023, Summit Charter School Foundation Inc reported income of $4.1m and spending of $1.1m, leaving 72% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $4.1m (+311%), an average of +42% a year. The sharpest change came in the year to June 2023, when income rose by 336%. Over the whole period it spent 58% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Charter School Foundation Inc 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 92nd percentile within NC. Charities of a similar size with the same main cause include Achievement Academy Inc ($4.1m), Atlanta General Education Center Inc ($4.1m) and New Dimensions High School Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $19.5m against liabilities of $5.7m, net assets of $13.8m.