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Nonprofiteer
← SUMMIT BANK FOUNDATION

Form 990 for tax year 2024

Filed by SUMMIT BANK FOUNDATION.

Totals

Total revenue
$241,377
Total expenses
$56,624
Contributions and grants received
$310,828
Grants paid
$29,500
Program service revenue
$0
Investment income
$14,669
Other revenue
-$84,120
Total assets, end of year
$2,185,637
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,185,637
Program services expenses (Part IX)
$29,500
Management and general expenses
$807
Fundraising expenses
$26,317
Program service expenses (Part III)
$29,500

Program services were 52.1% 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

    $274,978

  • 1f · All other contributions, gifts and grants

    $35,850

  • 3 · Investment income

    total $14,669 · excluded $14,669

  • 8a · Fundraising events: gross income

    $49,000

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

    $274,978

  • 8b · Fundraising events: direct expenses

    $137,170

  • 8c · Net income from fundraising events

    total -$88,170 · excluded -$88,170

  • 9a · Gaming: gross income

    $4,050

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $4,050 · excluded $4,050

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $24,000 · program services $24,000

  • 2 · Grants to domestic individuals

    total $5,500 · program services $5,500

  • 13 · Office expenses

    total $351 · management and general $351

  • 19 · Conferences, conventions and meetings

    total $456 · management and general $456

  • 24a · Other expenses: 2023 Golf expenses

    total $13,241 · fundraising $13,241

  • 24b · Other expenses: Fundraising expenses

    total $9,003 · fundraising $9,003

  • 24c · Other expenses: 2023 R&W Ball expenses

    total $4,073 · fundraising $4,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $376,401 · end of year $561,048

  • 2 · Savings and temporary cash investments

    beginning of year $1,624,483 · end of year $1,624,589

  • 27 · Net assets without donor restrictions

    beginning of year $376,400 · end of year $561,048

  • 28 · Net assets with donor restrictions

    beginning of year $1,624,484 · end of year $1,624,589

Mission and programs · 2024

Mission

To garner funds in support of research at the UCSF Helen Diller Comprehensive Cancer Research Center. To aid doctors in finding a cure and provide financial assistance for innovation and progressive research. To provide scholarships to students who have overcome adversity in their journey for success in education.

Activities or mission (Part I)

Provide scholarships to underprivileged Oakland students and support cancer and other research at UCSF.

  • The Foundation raises funds through two events and funds scholarships for students, and supports cancer and other research at UCSF.

    Expenses $29,500 · Grants $29,500

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shirley Nelson

    Chair

    Total calculated
    $680,707
    From this org
    $0
    From related orgs
    $680,707
    Other
    $0
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $679,471 related
    Bonus
    $0
    Other
    $0 + $1,236 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $680,707 related

  • Joe Rainero

    President

    Total calculated
    $0
    Hours/week
    1

  • Anne Marie Taylor

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Susan Casper

    Director - left mid year

    Total calculated
    $0
    Hours/week
    1

  • James Falaschi

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ken Coit

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alfred P Knoll

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Ruegg

    Director

    Total calculated
    $0
    Hours/week
    1

  • Derreck Johnson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Nancy O'Malley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Maria Falaschi

    Director - joined mid year

    Total calculated
    $0
    Hours/week
    1

  • Mani Ganesamurthy

    CFO

    Total calculated
    $510,872
    From this org
    $0
    From related orgs
    $510,872
    Other
    $0
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,872 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $510,872 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

None.

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 I, Line 3
The Chair is compensated by Summit Bank, a related organization. Summit Bank is a corporation.

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Summit Bank

    C · Commercial Bank · CA

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349313510

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