Summers Foundation FY2022 filing

Unknown exempt organization Palestine, TX EIN 75-2851505
Revenue
$159K
▼ -71%
FY2022 · Pt VIII · Ln 12
Expenses
$45K
▼ -93%
FY2022 · Pt IX · Ln 25
Net assets
$1.9M
FY2022 · Pt X · Ln 32
To programs
45%
FY2022 · Pt IX · col B
Revenue & expenses by yearFY2020–FY2024
Revenue
$159K
FY2022▼ -71%
Expenses
$45K
FY2022▼ -93%

Provides grants to other charitable groups.

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Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
45% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$100K–1M
↓ -71% vs prior year Details →

Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).


Provides grants to other charitable groups.

Type
Unknown exempt organization · Nonprofit
Location
Palestine, TX
Filings
5 on file (2020–2022)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Provided by the organization

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Where the money goes · FY2022
Where spending went · Part IX cols B–D
Program services $0.45 Management & general $0.55
Surplus margin
+72%
revenue over expenses, this year
Program spending
45%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$1.9M
FY2022▲ +6%
Total liabilities
$0
FY2022
Revenue less expensesPt I · Ln 19$114K
Total assetsPt X · Ln 16$1.9M
Program-expense ratioPt IX · col B45%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CSummers Foundation
EINHdr · item D75-2851505
Principal addressHdr · item CPalestine, TX
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
See Summers Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $20K of program spending, described in the organization's own filed words · FY2022.
01

Presbyterian Church of Palestine

Boy scout troup 440 15,000 first presbyterian church of palestine 5,000

$20Kprogram expense

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Statement of Revenue

Part VIII
Investment income100%$159K
Total revenueLn 12$159K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.45 Management & general $0.55
Program services45%$20K
Management & general55%$25K
Total functional expensesLn 25$45K

Balance Sheet

Part X · end of year
CashLn 1$46K
Total assetsLn 16$1.9M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.9M
Months of cash on handcomputed12.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.9M · Operating expenses/yr $45K
507.4 months
Where the money goes
Program services
Program services $20K · Total expenses $45K
45%
Management & General
Management & general $25K · Total expenses $45K
55%
Fundraising
Fundraising $0 · Total expenses $45K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $159K
0%
Government reliance
Government grants — · Total revenue $159K
—
Earned-income share
Program service revenue $0 · Total revenue $159K
0%
Investment reliance
Investment income $159K · Total revenue $159K
+100%
Program self-sufficiency
Program service revenue $0 · Total expenses $45K
0%
Growth & trend
Revenue growth (YoY)
This year $159K · Prior year $551K
-71%
Net-asset trend (YoY)
End of year $1.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $159K · Expenses $45K
+72%
Liabilities-to-Assets
Total liabilities — · Total assets $1.9M
—
Net-asset ratio
Net assets $1.9M · Total assets $1.9M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.8M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.9M
97%
People & payroll
Highest Reported Total Compensation
Individual A Hugh Summers · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $45K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $45K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 45%——
Overhead ratio 55%——
Revenue growth -71%——
Investment management fee ratio 1%——
Accounting fee ratio 9%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 20 grants · $3.3M · 2020–2023
First Presbyterian Church ofFY2023$40,000
First Presbyterian Church ofFY2023$24,578
First Presbyterian Church ofFY2022$15,000
First Presbyterian Church ofFY2021$60,000
Ut MD Anderson Cancer CenterFY2021$40,000
First Presbyterian Church ofFY2021$15,000
Cartmell Foundation INCTX · FY2021$10,000
First United Methodist ChurchFY2021$10,000
First Presbyterian Church ofFY2020$40,000
Ut MD Anderson Cancer CenterFY2020$20,000
See all 20 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)— revenue · ⤓ 990 PDF
FY2023$805K revenue · ⤓ 990 PDF
FY2022$159K revenue · viewing · ⤓ 990 PDF
FY2021$551K revenue · ⤓ 990 PDF
FY2020$294K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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