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Summit Financial Foundation EIN 81-3943622 Form 990 (PDF) Claim this org

Summit Financial Foundation FY2020 filing

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A private foundation based in Wilmington, DE. It reported about $32K in revenue for 2020. For fiscal year 2020 it reported $32K in revenue, $18K in expenses, and $123K in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Wilmington, DE
Filings
5 on file (2020–2020)
Revenue
$32KFY2020
Expenses
$18K
Net assets
$123K
People
0
Filings
5
Updates
0
More identity details & actions ⌄
EIN  81-3943622 Private foundation / grantmaker Wilmington, DE
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
A private foundation based in Wilmington, DE. It reported about $32K in revenue for 2020.
Money in and out
$32K revenue, $18K expenses
Bottom line
—
Grants paid & assets · FY2020
Total revenue
$32K
Pt VIII · Ln 12
Total expenses
$18K
Pt IX · Ln 25
Net assets
$123K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $14K
Total assets
123K
deployed as grants and operations
Grants paid
18K
in FY2020
Grants made
21grants
total in period
Payout rate
15%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 21 grants · $14K · 2024–2024
Girls Incorporated of Alameda CountyCA · FY2024$5,000
Monterey Bay Aquarium FoundationCA · FY2024$1,000
Mewater Foundation IncorporatedCA · FY2024$1,000
Diablo Valley Veterans FoundationCA · FY2024$1,000
Three Valleys Community FoundationCA · FY2024$900
St Jude Childrens Research Hospital INCFY2024$500
Rooms of Hope INCCA · FY2024$500
Rooms of Hope INCCA · FY2024$500
Lazarex Cancer FoundationCA · FY2024$500
Canine Companions for IndependenceCA · FY2024$500
Bay Area Crisis NurseryCA · FY2024$500
Aneurysm FoundationCA · FY2024$500
Crosswinds ChurchFY2024$270
Wrestle Like a Girl INCPA · FY2024$250
Nebraska Czechs of WilberNE · FY2024$250
The Mayfly ProjectAR · FY2024$250
Hillsdale CollegeMI · FY2024$250
Dougy Center INCOR · FY2024$250
See all 21 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV17
Average grantPart XV$680
Median grantPart XV$500
Largest grantPart XV$5K
Top cause focusNTEEHuman Services (14%)

Summary of the Filing

Part I · fiscal year 2020 · Form 990-PF
Revenue
$32K
FY2020
Expenses
$18K
FY2020
Total assets
$123K
FY2020
Total liabilities
$0
FY2020
Total revenue
$32K
Pt VIII · Ln 12
Total expenses
$18K
Pt IX · Ln 25
Net assets
$123K
Pt X · Ln 32
Total assetsPt II$123K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummit Financial Foundation
EINHdr · item D81-3943622
Principal addressHdr · item CWilmington, DE
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MDE
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T21)
Ruling yearIRS BMFMar 2017

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
Officers, directors & key employeesPt VII · Sec ANot reported
See Summit Financial Foundation executive salaries →

Statement of Revenue

Part VIII
Contributions & grants$27K · 83%
Investment income$5K · 17%
Contributions & grants83%$27K
Investment income17%$5K
Total revenueLn 12$32K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.99 Operating & administrative $0.01
Grants & contributions paid99%$18K
Operating & administrative1%$220
Total functional expensesLn 25$18K

Balance Sheet

Part X · end of year
CashLn 1$30K
Total assetsLn 16$123K
Total liabilitiesLn 26$0
Total net assetsLn 32$123K
Months of cash on handcomputed20.0

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $123K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $32K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $32K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $32K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $123K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $32K · Expenses $18K
+44%
Liabilities-to-Assets
Total liabilities — · Total assets $123K
—
Net-asset ratio
Net assets $123K · Total assets $123K
100%
People & payroll
Highest Reported Total Compensation
Individual — · Reported title — · Highest reported compensation — · Total expenses $18K
No individual compensation reported on this filing
Personnel share
not reported

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. Peer cohort: .

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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)$74K revenue · ⤓ 990 PDF
FY2023$15K revenue · ⤓ 990 PDF
FY2022$40K revenue · ⤓ 990 PDF
FY2021$74K revenue · ⤓ 990 PDF
FY2020$32K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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