Peoples United Summit

Analysis

Peoples United Summit is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in November 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Peoples United Summit reported income of $215k and spending of $141k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $115k to $215k (+86%), an average of +86% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Peoples United Summit sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within TX. Charities of a similar size with the same main cause include Geneseo Park District Foundation NFP ($215k), Indy Gateway Inc ($215k) and Chartion Chamber & Development Charitable Foundation ($215k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $303k against liabilities of $9,845, net assets of $293k.