Summit Foundation EIN 81-3718877

Summit Foundation FY2023 filing

EIN  81-3718877 Private foundation / grantmaker Bristol, TN
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
A private foundation based in Bristol, TN. It reported about $177K in revenue for 2023.
Leadership
Eric Fields · Director
Money in and out
$177K revenue, $158K expenses
Bottom line

A private foundation based in Bristol, TN. It reported about $177K in revenue for 2023. For fiscal year 2023 it reported $177K in revenue, $158K in expenses, and $21K in net assets.Pt I

Grants paid & assets · FY2023
Total revenue
$177K
Pt VIII · Ln 12
Total expenses
$158K
Pt IX · Ln 25
Net assets
$21K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $19K
Total assets
21K
deployed as grants and operations
Grants paid
158K
in FY2023
Grants made
1grants
total in period
Payout rate
762%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 1 grant · $12K · 2024–2024
Grace Bible ChurchFY2024$12,007

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$12K
Median grantPart XV$12K
Largest grantPart XV$12K

Summary of the Filing

Part I · fiscal year 2023 · Form 990-PF
Revenue
$177K
FY2023▲ +283%
Expenses
$158K
FY2023▲ +182%
Total assets
$21K
FY2023▲ +249%
Total liabilities
$0
FY2023▼ -100%
Total revenue
$177K
Pt VIII · Ln 12
Total expenses
$158K
Pt IX · Ln 25
Net assets
$21K
Pt X · Ln 32
Total assetsPt II$21K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummit Foundation
EINHdr · item D81-3718877
Principal addressHdr · item CBristol, TN
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S12)
Ruling yearIRS BMFDec 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2023 filing did not itemize Part VII
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$177K
Total revenueLn 12$177K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $1.00
Grants & contributions paid100%$158K
Total functional expensesLn 25$158K

Balance Sheet

Part X · end of year
CashLn 1$21K
Total assetsLn 16$21K
Total liabilitiesLn 26$0
Total net assetsLn 32$21K
Months of cash on handcomputed1.6

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $21K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $177K
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $177K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $177K · Prior year $46K
+283%
Net-asset trend (YoY)
End of year $21K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $177K · Expenses $158K
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $21K
Net-asset ratio
Net assets $21K · Total assets $21K
100%
People & payroll
Highest Reported Total Compensation
Individual — · Reported title — · Highest reported compensation — · Total expenses $158K
No individual compensation reported on this filing
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth 283%

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.

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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)$200K revenue · ⤓ 990 PDF
FY2023$177K revenue · viewing · ⤓ 990 PDF
FY2022$46K revenue · ⤓ 990 PDF
FY2021$49K revenue · ⤓ 990 PDF
FY2020$26K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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