The Summit Foundation

Analysis

The Summit Foundation is a registered charity in United States, based in Breckenridge, CO. It received its IRS tax-exemption ruling in January 1985, 41 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, The Summit Foundation reported income of $7.2m and spending of $5.2m, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $5.2m to $7.2m (+39%), an average of +8.6% a year. The sharpest change came in the year to September 2020, when income rose by 55%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Summit Foundation sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CO. Charities of a similar size with the same main cause include Juneau Community Foundation ($7.2m), Innw Fund ($7.2m) and New Morning ($7.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $335k (6.5% of expenses). Other salaries and wages came to $389k. At year end it held assets of $21.8m against liabilities of $299k, net assets of $21.5m. It reported 11 employees.