Summit at First Hill

Analysis

Summit at First Hill is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in January 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Summit at First Hill reported income of $11.9m and spending of $12.5m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.3m to $11.9m (+5.3%), an average of +1.3% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Summit at First Hill sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within WA. Charities of a similar size with the same main cause include Innovative Housing Development Corporation ($11.9m), Acfb Charitable Investments Inc ($11.9m) and Park Village Inc ($11.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.8% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $727k (5.8% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $25.0m against liabilities of $9.7m, net assets of $15.3m.