Summers Legacy Foundation Inc

Analysis

Summers Legacy Foundation Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in November 2021, 5 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 December 2023, Summers Legacy Foundation Inc reported income of $467k and spending of $379k, spending 81% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $250k to $467k (+87%), an average of +87% a year. The sharpest change came in the year to December 2023, when income rose by 87%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Summers Legacy Foundation Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within LA. Charities of a similar size with the same main cause include Volunteers Inspiring & Encouraging Positive Attitude Resilience & Ser ($467k), Kelly Reeves Memorial Foundation ($467k) and Jonas Philanthropies Inc ($467k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $197k (52% of expenses). At year end it held assets of $116k against liabilities of $8,869, net assets of $107k. It reported 2 employees.