Team Summit

Analysis

Team Summit is a registered charity in United States, based in Copper Mountain, CO. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2023, Team Summit reported income of $4.0m and spending of $3.6m, spending 91% of its income. Across the 4 years on record, from June 2020 to April 2023, income grew from $2.2m to $4.0m (+81%), an average of +22% a year. The sharpest change came in the year to April 2023, when income rose by 26%. Over the whole period it spent 86% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Team Summit sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CO. Charities of a similar size with the same main cause include Camps Newfound Owatonna Corporation ($4.0m), Future Citizens Foundation ($4.0m) and Gwinnett Soccer Association Inc ($4.0m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 14% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $113k (3.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $3.6m against liabilities of $1.7m, net assets of $2.0m. It reported 201 employees.