Summit Academy-Toledo

Analysis

Summit Academy-Toledo is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in November 2006, 20 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 Academy-Toledo reported income of $2.7m and spending of $2.7m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.7m (+6.9%), an average of +1.7% a year. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Academy-Toledo sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Addlestone Hebrew Academy ($2.7m), Champion Christian College Inc ($2.7m) and Merry Glen Public Benefit ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.4% of the total. At year end it held assets of $0 against liabilities of $0, net assets of $0.