Form 990 for tax year 2022
Filed by THE SUMMIT FOUNDATION A NJ NONPROFIT CORPORATION.
Totals
- Total revenue
- $1,086,760
- Total expenses
- $1,129,740
- Contributions and grants received
- $563,030
- Grants paid
- $999,982
- Program service revenue
- $0
- Investment income
- $523,730
- Other revenue
- $0
- Total assets, end of year
- $17,845,068
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $17,845,068
- Program services expenses (Part IX)
- $999,982
- Management and general expenses
- $105,632
- Fundraising expenses
- $24,126
- Program service expenses (Part III)
- $999,982
Program services were 88.5% 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.
-
1f · All other contributions, gifts and grants
$563,030
-
1g · Noncash contributions included above
$39,975
-
3 · Investment income
total $467,225 · excluded $467,225
-
7a · Gross sales of assets other than inventory
securities $2,640,286
-
7b · Less cost or other basis and sales expenses
securities $2,583,781
-
7c · Gain or loss
securities $56,505
-
7d · Net gain or loss
total $56,505 · related or exempt $56,505
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $906,659 · program services $906,659
-
2 · Grants to domestic individuals
total $93,323 · program services $93,323
-
11c · Fees: accounting
total $14,475 · management and general $14,475
-
11f · Fees: investment management
total $83,543 · management and general $83,543
-
12 · Advertising and promotion
total $23,620 · fundraising $23,620
-
23 · Insurance
total $1,682 · management and general $1,682
-
24a · Other expenses: COMPUTER
total $2,398 · program services $0 · management and general $2,398 · fundraising $0
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $2,210 · program services $0 · management and general $2,210 · fundraising $0
-
24c · Other expenses: POSTAGE
total $861 · program services $0 · management and general $861 · fundraising $0
-
24d · Other expenses: BANK FEES
total $636 · program services $0 · management and general $130 · fundraising $506
-
24e · All other expenses
total $333 · management and general $333
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $509,707 · end of year $434,075
-
7 · Other notes and loans receivable
beginning of year $64,077 · end of year $51,820
-
11 · Investments: publicly traded securities
beginning of year $20,450,720 · end of year $17,331,451
-
15 · Other assets
beginning of year $25,156 · end of year $27,722
-
27 · Net assets without donor restrictions
beginning of year $11,076,771 · end of year $9,493,377
-
28 · Net assets with donor restrictions
beginning of year $9,972,889 · end of year $8,351,691
Mission and programs · 2022
Mission
THE SUMMIT FOUNDATION IS A TAX-EXEMPT COMMUNITY FOUNDATION THAT FOSTERS PHILANTHROPY IN THE GREATER SUMMIT NJ AREA. THE FOUNDATION USES COMPETITIVE GRANTS AND THE WISHES OF DONORS TO MEET THE NEEDS OF THE COMMUNITY.
Activities or mission (Part I)
THE SUMMIT FOUNDATION (THE FOUNDATION) IS A NONPROFIT CORPORATION LOCATED IN SUMMIT, NEW JERSEY. ITS PURPOSE IS TO FOSTER PHILANTHROPY AND SERVE THE PUBLIC CHARITABLE, EDUCATIONAL OR BENEVOLENT NEEDS OF THE REGION.
-
$705,155 GRANTED TO 37 AGENCIES PURSUANT TO A RIGOROUS APPLICATION REVIEW PROCESS.$45,016 TO 28 AGENCIES TO DONOR ADVISED FUNDS. $93,323 AWARDED IN SCHOLARSHIPS TO 44 STUDENT RECIPIENTS. $156,488 DONOR ADVISED DISTRIBUTIONS TO 6 FUNDS.
Expenses $999,982 · Grants $999,982
As filed on the 2022 return.
Listed in Part VII
-
Julie KeenanJULIE KEENAN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Sandy BloomSANDY BLOOM
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Frank MacioceFRANK MACIOCE
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Martha SayreMARTHA SAYRE
TREASURER
- Total calculated
- $0
- Hours/week
- 10
-
Irene MurdockIRENE MURDOCK
ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Celia ColbertCELIA COLBERT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jim FleischmannJIM FLEISCHMANN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jack CooperJACK COOPER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Julie AdamsJULIE ADAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Patricia FontanPATRICIA FONTAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Drew MaldonadoDREW MALDONADO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dana TurkDANA TURK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Leah GriffithLEAH GRIFFITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan BetzJONATHAN BETZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mark YeagerMARK YEAGER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Katherine KalinKATHERINE KALIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Amy DisibioAMY DISIBIO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eric LegoffERIC LEGOFF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Chuck GelberCHUCK GELBER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kate DarcyKATE DARCY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Regina DalyREGINA DALY
TRUSTEE
- 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
-
$90,000
VARIOUS PROJECTS
-
$67,404
VARIOUS PROJECTS
-
CITY OF SUMMIT
$53,514
VARIOUS PROJECTS
-
$50,000
VARIOUS PROJECTS
-
VARIOUS PROJECTS
-
SUMMIT PUBLIC SCHOOLS
$33,000
VARIOUS PROJECTS
-
$26,552
VARIOUS PROJECTS
-
$25,000
VARIOUS PROJECTS
-
VARIOUS PROJECTS
-
$23,500
VARIOUS PROJECTS
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202342549349301504
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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