Summit Foundation

Organization Overview

Summit Foundation is located in Charlotte, NC. The organization was established in 2010. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Foundation 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 12/2023, Summit Foundation generated $447.1m in total revenue. All expenses for the organization totaled $446.7m during the year ending 12/2023. While expenses have increased by 79.1% per year over the past 7 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 2017, Summit Foundation has awarded 117 individual grants totaling $579,465,315. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO FURTHER THE KINGDOM OF GOD BY SUPPORTING BENEFICIARY ORGANIZATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION SUPPORTS BENEFICIARY ORGANIZATION'S PROGRAMS THROUGH GRANTS.


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Board, Officers & Key Employees

Name (title)Compensation
Rene Palacio
President & Director
$0
Fred Ely
Secretary & Treasurer
$0
Ronald Williams
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$446,300,000
Noncash contributions included in lines 1a–1f $446,300,000
Total Revenue from Contributions, Gifts, Grants & Similar$446,300,000
Total Program Service Revenue$0
Investment income $778,446
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,122
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $447,080,568

Grants Awarded

Over the last fiscal year, Summit Foundation has awarded $436,677,500 in support to 4 organizations.

Grant RecipientAmount

NCF CHARITABLE TRUST

PURPOSE: Ministry support

$436,300,000

HORIZONS EXPEDITIONS INC

PURPOSE: Ministry Support

$22,500

SIM USA INC

PURPOSE: Ministry Support

$340,000

CEDE SPORTS

PURPOSE: Ministry Support

$15,000
View Grant Profile

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