Summit Foundation
- Assets
- $1.2m
- Revenue
- $199.2k
- Investments
- $1.1m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 01/2004
- Data as of
- 12/2021
- EIN
- 33-1074444
Organization Overview
Summit Foundation is located in Pittsburgh, PA. The organization was established in 2004. 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. 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 12/2021, Summit Foundation generated $199.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 45.6% each year . All expenses for the organization totaled $92.0k during the year ending 12/2021. While expenses have increased by 9.7% 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, Summit Foundation has awarded 62 individual grants totaling $201,000. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $33,733 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $165,249 |
| Capital Gain Net Income | $165,249 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $232 |
| Total Revenue | $199,214 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,264 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,414 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $15,049 |
| Contributions, gifts, grants paid | $77,000 |
| Total expenses and disbursements | $92,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $82,747 |
| 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 | $1,119,376 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,202,123 |
| 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, Summit Foundation has awarded $77,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Ligonier, PA PURPOSE: GENERAL OPERATING | $12,000 |
HOLY TRINITY CHURCH PURPOSE: GENERAL OPERATING | $8,500 |
LIGONIER VALLEY LIBRARY PURPOSE: GENERAL OPERATING | $7,500 |
LIGONIER VALLEY SCHOOL DISTRICT FOUNDATI PURPOSE: GENERAL OPERATING | $6,500 |
Ligonier, PA PURPOSE: GENERAL OPERATING | $5,000 |
LIGONIER BOROUGH SHADE TREE PURPOSE: GENERAL OPERATING | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |