Summech Community Development Corporation Inc

Analysis

Summech Community Development Corporation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in September 1990, 36 years ago. 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, Summech Community Development Corporation Inc reported income of $2.4m and spending of $1.5m, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.4m (+101%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 278%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Summech Community Development Corporation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within GA. Charities of a similar size with the same main cause include Commonwealth Institute for Fiscal Analysis ($2.4m), Suffolk Community College Foundation Inc ($2.4m) and Integrated Health Center ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $185k (13% of expenses). Other salaries and wages came to $254k. At year end it held assets of $8.9m against liabilities of $3.4m, net assets of $5.5m. It reported 6 employees.