Summers Way Foundation EIN 99-0861949 Form 990 (PDF) Claim this org

Summers Way Foundation

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Fund research to cure childhood cancers and support affected families. For fiscal year 2024 it reported $227K in revenue, $80K in expenses, and $573K in net assets.Pt I

Type
Public charity (501(c)(3)) · Medical Research
Location
Centennial, CO
Website
summersway.org
Filings
1 on file (2024–2024)
Revenue
$227KFY2024
Expenses
$80K
Net assets
$573K
People
9
Filings
1
Updates
0
More identity details & actions ⌄
EIN  99-0861949 Public charity (501(c)(3)) Centennial, CO
Form 990 (PDF)
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Size
$100K–1M
What they do
Fund research to cure childhood cancers and support affected families.
Leadership
Sharon L Hammond MD · President
Money in and out
$227K revenue, $80K expenses
Bottom line
90% program efficiency
Where the money goes · FY2024
Total revenue
$227K
Pt VIII · Ln 12
Total expenses
$80K
Pt IX · Ln 25
Net assets
$573K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $147K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs
Operating runway
88.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+65%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total revenue
$227K
Pt VIII · Ln 12
Total expenses
$80K
Pt IX · Ln 25
Net assets
$573K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$147K
Total assetsPt X · Ln 16$573K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummers Way Foundation
EINHdr · item D99-0861949
Principal addressHdr · item CCentennial, CO
WebsiteHdr · item Jsummersway.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H30)
Ruling yearIRS BMFMar 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
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
Secretary/Tr
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $72K of program spending, described in the organization's own filed words · FY2024.
01

Cancer Research Grants

Pediatric cancer research receives just 4% of government funding, with even less allocated to the rarer forms of childhood cancers. To address this significant funding gap, we employ multiple approaches to advance research.

$52Kprogram expense
02

Patient and Family Support

The summer's way foundation has a "wigs for kids and teens" program which funds custom wigs for children and teens receiving cancer treatment at regional children's hospitals. The foundation covers these expenses as the insurance companies do not provide coverage.

$14Kprogram expense
03

Healing Through the Arts

This provides individualized art therapy sessions to pediatric cancer patients at a regional children's hospital. Led by a registered art therapist, these sessions use multiple art mediums to help children cope with the isolation and physical challenges that accompanies long hospital stays with aggressive treatment.

$6Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants105%$238K
Total revenueLn 12$227K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$72K
Management & general10%$8K
Total functional expensesLn 25$80K

Balance Sheet

Part X · end of year
CashLn 1$570K
Total assetsLn 16$573K
Total liabilitiesLn 26$0
Total net assetsLn 32$573K
Months of cash on handcomputed85.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $573K · Operating expenses (Pt IX) $80K · Less non-cash grants $3K · Cash operating expenses/yr $78K
88.2 months
Where the money goes
Program services
Program services $72K · Total expenses $80K
90%
Management & General
Management & general $8K · Total expenses $80K
10%
Fundraising
Fundraising $0 · Total expenses $80K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $238K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $238K · Total revenue $227K
105%
Government reliance
Government grants — · Total revenue $227K
Earned-income share
Program service revenue $0 · Total revenue $227K
0%
Investment reliance
Investment income $0 · Total revenue $227K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $80K
0%
Growth & trend
Revenue growth (YoY)
This year $227K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $573K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $227K · Expenses $80K
+65%
Liabilities-to-Assets
Total liabilities — · Total assets $573K
Net-asset ratio
Net assets $573K · Total assets $573K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $3K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $573K
0.4%
People & payroll
Highest Reported Total Compensation
Individual Sharon L Hammond MD · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $80K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $80K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Fundraising cost ratio 0%
Legal fee ratio 6%

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 · 3 grants · $66K · 2024–2024
University of FloridaFL · FY2024$22,500
Unitemized GrantFY2024$13,516

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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)$227K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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