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← SUMMERS FOUNDATION

Form 990 for tax year 2023

Filed by SUMMERS FOUNDATION.

Totals

Total revenue
$804,556
Total expenses
$2,690,723
Contributions and grants received
$0
Grants paid
$2,660,944
Program service revenue
$0
Investment income
$804,556
Other revenue
$0
Total assets, end of year
$43
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$43
Program services expenses (Part IX)
$2,660,944
Management and general expenses
$29,779
Fundraising expenses
$0
Program service expenses (Part III)
$2,660,944

Program services were 98.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $12,661 · excluded $12,661

  • 7a · Gross sales of assets other than inventory

    securities $2,637,757 · other assets $563

  • 7b · Less cost or other basis and sales expenses

    securities $1,846,425

  • 7c · Gain or loss

    securities $791,332 · other assets $563

  • 7d · Net gain or loss

    total $791,895 · excluded $791,895

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,660,944 · program services $2,660,944

  • 11b · Fees: legal

    total $7,134 · management and general $7,134

  • 11c · Fees: accounting

    total $6,690 · management and general $6,690

  • 11f · Fees: investment management

    total $15,924 · management and general $15,924

  • 24a · Other expenses: OTHER EXPENSES

    total $31 · management and general $31

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,871 · end of year $43

  • 4 · Accounts receivable

    beginning of year $1,477

  • 11 · Investments: publicly traded securities

    beginning of year $1,838,862

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,886,210 · end of year $43

Mission and programs · 2023

Mission

THE SUMMERS FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF SEVERAL SECTION 501(C)(3) ORGANIZATIONS IN AND AROUND ANDERSON COUNTY, TEXAS.

Activities or mission (Part I)

SUPPORT OF CERTAIN SECTION 501(C)(3) ORGANIZATIONS

  • PROVIDED ASSISTANCE TO 7 SECTION 501(C)(3) ORGANIZATIONS.

    Expenses $2,660,944 · Grants $2,660,944

As filed on the 2023 return.

Listed in Part VII

  • A Hugh Summers

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Haywood L Harris Jr

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Geraldine Ivey

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Ahnise V Summers

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.0
Source object
202443189349310179

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