Summit Financial Foundation
- Assets
- $188.6k
- Revenue
- $73.9k
- Investments
- $171.7k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2017
- Data as of
- 12/2021
- EIN
- 81-3943622
Organization Overview
Summit Financial Foundation is located in Wilmington, DE. The organization was established in 2017. According to its NTEE Classification (T21) the organization is classified as: Corporate 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 Financial 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 Financial Foundation generated $73.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $8.3k during the year ending 12/2021. While expenses have increased by 10.6% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Bennett Dir | 1 | $0 | |
Kim Damiani Dir | 1 | $0 | |
Teresa Hookey Dir, Treas | 1 | $0 | |
Rachael Kepke Dir, VP | 1 | $0 | |
Tami Miceli Dir, Sec | 1 | $0 | |
Steve Wilcox Pres, Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,182 |
| Interest on Savings | $25 |
| Dividends & Interest | $2,268 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,445 |
| Capital Gain Net Income | $41,316 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $73,920 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2 |
| Taxes | $84 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $326 |
| Contributions, gifts, grants paid | $8,000 |
| Total expenses and disbursements | $8,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,892 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $188,573 |
| 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 Financial Foundation has awarded $8,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Livermore, CA PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Livermore, CA PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
SHELTER INC PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Phoenix, AZ PURPOSE: CHARITABLE EVENT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Molina Healthcare Charitable Foundation Wilmington, DE | $6,023,085 | $109,085 |
David R & Patricia D Atkinson Foundation Princeton, NJ | $114,019,131 | $20,460,455 |
Alcoa Foundation Pittsburgh, PA | $146,938,296 | $5,082,676 |
Workday Foundation Wilmington, DE | $43,827,189 | $3,435,808 |
Illumina Corporate Foundation Wilmington, DE | $8,163,072 | $7,329,761 |
William And Phyllis Mack Family Foundation Inc Fort Lee, NJ | $6,899,137 | $5,510,037 |
Star Foundation Bethlehem, PA | $0 | $17,247 |
Giant Eagle Foundation Pittsburgh, PA | $15,044,604 | $6,408,453 |
Columbia Bank Foundation Fair Lawn, NJ | $62,062,465 | $11,697,809 |
Kemmerer Family Foundation Chatham, NJ | $33,666,198 | $1,499,905 |
Henkels Foundation Blue Bell, PA | $1,152,398 | $2,386,882 |
Amani Family Foundation Wilmington, DE | $45,849,271 | $16,212,818 |