Summit Academy Inc

Analysis

Summit Academy Inc is a registered charity in United States, based in Cottonwood, ID. It received its IRS tax-exemption ruling in April 1999, 27 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 Inc reported income of $8.1m and spending of $859k, leaving 89% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $566k to $8.1m (+1324%), an average of +142% a year. The sharpest change came in the year to June 2021, when income rose by 274%. Over the whole period it spent 17% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Academy Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 97th percentile within ID. Charities of a similar size with the same main cause include Radford University Foundation Inc ($8.1m), Riverwalk Academy Inc ($8.1m) and The Palm Beach State College FDN Inc ($8.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 3.2% of the total. Other salaries and wages came to $555k. At year end it held assets of $15.5m against liabilities of $506k, net assets of $15.0m. It reported 52 employees.