Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1988.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
97 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
21 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Funds grants to enhance Summit, NJ public school education.
Questions for Summit Educational Foundation INC
Your first name shows with your question. Summit Educational Foundation INC answers here, for everyone.
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The endowment fund of the summit educational foundation provides funding for strategic long-term initiatives critical to the health of the district and its ability to provide an excellent educational experience for its students.
The annual fund of the summit education foundation encourages and funds teacher and district-initiated programs that advance the curriculum and district objectives. During the 2021-22 fiscal year, 75 grants totaling $404,543 were awarded from the annual fund.
The summit educational foundation funded specific grants with contributions received subject to donor-imposed restrictions.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $430K | $338K |
| InvestmentsLn 11–13 | $7.4M | $6.3M |
| Total assetsLn 16 | $7.9M | $6.8M |
| LiabilitiesLn 26 | $800K | $1.5M |
| Net assetsLn 32 | $7.1M | $5.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $1.4M | $1.4M | ||
| Accounting feesLn 11c | $13K | $13K | ||
| Other fees for servicesLn 11g | $3K | $3K | ||
| Office expensesLn 13 | $1K | $1K | ||
| InsuranceLn 23 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $20K | $0 | $7K | $13K |
| All other expensesLn 24e | $310 | $310 | ||
| Total functional expensesLn 25 | $1.4M | $1.4M | $23K | $16K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $662K | $506K | $155K | $6.7M | 990 PDF |
| FY2024 | $549K | $708K | −$159K | $6.1M | 990 PDF |
| FY2023 | $689K | $656K | $33K | $5.6M | 990 PDF |
| FY2022 Viewing | $702K | $1.4M | −$697K | $5.2M | 990 PDF |
| FY2021 | $1.1M | $807K | $337K | $7.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $701,983 revenue, 12 lines filed
Part VI · Governance 21 of 21 board members independent, 3 to look at
Part VIII · Statement of revenue $701,983 across 6 lines filed
Part IX · Statement of functional expenses $1,399,481 across 7 lines filed
Part X · Balance sheet $6,765,196 assets, 13 lines filed
Part XI · Reconciliation of net assets $5,225,379 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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