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Nonprofiteer
← SUMMIT FOUNDATION INC

Form 990 for tax year 2023

Filed by SUMMIT FOUNDATION INC.

Totals

Total revenue
$281,975
Total expenses
$192,237
Contributions and grants received
$296,275
Grants paid
$88,334
Program service revenue
$0
Investment income
$0
Other revenue
-$14,300
Total assets, end of year
$1,622,292
Total liabilities, end of year
$129,523
Net assets or fund balances, end of year
$1,492,769
Program services expenses (Part IX)
$88,456
Management and general expenses
$20,305
Fundraising expenses
$83,476
Program service expenses (Part III)
$88,456

Program services were 46.0% 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.

  • 1c · Fundraising events

    $143,061

  • 1f · All other contributions, gifts and grants

    $153,214

  • 8a · Fundraising events: gross income

    $54,570

  • 8a · Fundraising events: contributions included on line 1c

    $143,061

  • 8b · Fundraising events: direct expenses

    $68,870

  • 8c · Net income from fundraising events

    total -$14,300 · excluded -$14,300

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $88,334 · program services $88,334

  • 11a · Fees: management

    total $92,340 · management and general $8,864 · fundraising $83,476

  • 11g · Fees: other

    total $122 · program services $122

  • 19 · Conferences, conventions and meetings

    total $9,628 · management and general $9,628

  • 24a · Other expenses: OTHER

    total $1,813 · management and general $1,813

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $423,899 · end of year $397,572

  • 3 · Pledges and grants receivable

    beginning of year $35,501 · end of year $42,751

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,870 · end of year $6,925

  • 11 · Investments: publicly traded securities

    beginning of year $963,423 · end of year $1,175,044

  • 17 · Accounts payable and accrued expenses

    beginning of year $114,229 · end of year $95,023

  • 19 · Deferred revenue

    beginning of year $23,054 · end of year $34,500

  • 27 · Net assets without donor restrictions

    beginning of year $732,896 · end of year $792,041

  • 28 · Net assets with donor restrictions

    beginning of year $557,514 · end of year $700,728

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT SERVICES PRIMARILY TO THE SUMMIT CENTER, INC., AS WELL AS TO SUPPORT OTHER ORGANIZATIONS OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES.

Activities or mission (Part I)

TO PROVIDE SUPPORT SERVICES PRIMARILY TO THE SUMMIT CENTER, INC., AS WELL AS TO SUPPORT OTHER ORGANIZATIONS OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERACY OR EDUCATIONAL PURPOSES.

  • IN 2024 THE SUMMIT FOUNDATION SUPPORTED THE SUMMIT CENTER'S SAFEGUARD AND SUMMITUP PROGRAMS WITH A GRANT.

    Expenses $88,456 · Grants $88,334

As filed on the 2023 return.

Listed in Part VII

  • Lisa A Foti

    TREASURER

    Total calculated
    $190,949
    From this org
    $0
    From related orgs
    $175,784
    Other
    $15,165
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,784 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,540 related
    Nontaxable benefits
    $0 + $5,625 related
    Filer's total
    $0 + $190,949 related

  • Thomas Rosenecker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Brown

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Neil Arnold

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Dave Aston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Stephen Nicholson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andy Ryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cindy Demarti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gerald Cornish

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Yolanda Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tinika Dandridge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Janice Larson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Dave Zolnowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bethann Roehling Flynn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Stephen R Anderson

    CONSULTANT

    Total calculated
    $323,433
    From this org
    $0
    From related orgs
    $292,243
    Other
    $31,190
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,243 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,892 related
    Nontaxable benefits
    $0 + $16,298 related
    Filer's total
    $0 + $323,433 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART 1, LINE 3
STEPHEN R. ANDERSON IN HIS CAPACITY IS RESPONSIBLE FOR MANAGING THE ADMINISTRATIVE ACTIVITES OF THE SUMMIT FOUNDATION, INC. HE IS THE FORMER CEO OF THE SUMMIT CENTER, INC. HE RETIRED FROM HIS ROLE IN DECEMBER 2023. HIS COMPENSATION WAS SUPPORTED BY A SEPARATE CONSULTING AGREEMENT APPROVED BY THE BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202501339349302450

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