Summit Initiative

Analysis

Summit Initiative is a registered charity in United States, based in Redmond, WA. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 June 2024, Summit Initiative reported income of $277k and spending of $304k, spending 110% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $24k to $277k (+1055%), an average of +84% a year. The sharpest change came in the year to June 2021, when income rose by 897%. Over the whole period it spent 96% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Summit Initiative sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within WA. Charities of a similar size with the same main cause include Village Cooperative Inc ($277k), Red Rhino Orphanage Project ($277k) and Agape Village Foundation Inc ($277k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $204k (67% of expenses). It paid $2,027 in professional fundraising fees. At year end it held assets of $44k against liabilities of $0, net assets of $44k. It reported 2 employees.