Solon E Summerfield Foundation Inc
- Assets
- $34.9m
- Revenue
- $4.8m
- Investments
- $33.4m
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 13-1797260
Organization Overview
Solon E Summerfield Foundation Inc is located in Bethesda, MD. The organization was established in 1942. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solon E Summerfield Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Solon E Summerfield Foundation Inc generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $6.6m during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Solon E Summerfield Foundation Inc has awarded 153 individual grants totaling $16,045,395. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark A Cogen Director, President | 12 | $5,000 | |
Karen P Balliett Director, Vice President | 5 | $5,000 | |
Alyssa N Cogen Director, Treasurer | 5 | $5,000 | |
Anne E Treeger Director, Secretary | 5 | $5,000 | |
Randolph Moore Director | 5 | $5,000 | |
Cynthia Rivera Weissblum Director | 5 | $5,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intentional Philanthropy | 12/30/21 | $358,692 |
Morgan Stanley Private Wealth Management | 12/30/21 | $458,365 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $127 |
| Dividends & Interest | $1,539,705 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,268,277 |
| Capital Gain Net Income | $3,414,356 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,808,109 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $63,656 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,886 |
| Printing and publications | $0 |
| Other expenses | $28,526 |
| Total operating and administrative expenses | $1,039,104 |
| Contributions, gifts, grants paid | $5,563,563 |
| Total expenses and disbursements | $6,602,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,522,414 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,817,796 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,900,701 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Solon E Summerfield Foundation Inc has awarded $5,563,563 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: PROGRAM SUPPORT - CULINARY ARTS TRAINING PROGRAM | $319,017 |
BOTTOM LINE PURPOSE: GENERAL OPERATING SUPPORT | $279,249 |
New York, NY PURPOSE: PROGRAM SUPPORT - EXPANDED HORIZONS COLLEGE SUCCESS PROGRAM | $275,000 |
New York, NY PURPOSE: PROGRAM SUPPORT - GERIATRICS CAREER DEVELOPMENT | $271,512 |
RESEARCH FOUNDATION OF CUNY PURPOSE: PROGRAM SUPPORT - COLLEGE ACCESS: RESEARCH & ACTION PROGRAMS | $270,000 |
Denver, CO PURPOSE: ENDOWMENT | $256,342 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
Posner Foundation Of Pittsburgh Pittsburgh, PA | $0 | $20,216,193 |