Solon E Summerfield Foundation Inc
Solon E Summerfield Foundation consistently spends more than it earns, drawing from its multi-million dollar asset base.
EIN: 131797260 · Bethesda, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $20.2M |
| Total Expenses | $9.6M |
| Program Spending | 90% |
| Net Assets | $31.5M |
| Transparency Score | 85/100 |
Is Solon E Summerfield Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Solon E Summerfield Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Solon E Summerfield Foundation Inc
Solon E Summerfield Foundation Inc (EIN: 131797260) is a nonprofit organization based in Bethesda, MD. The organization reported total revenue of $20.2M and total assets of $33.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Solon E Summerfield Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Solon E Summerfield Foundation Inc is a large nonprofit that has been operating for 84 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.2M |
| Total Expenses | $9.6M |
| Surplus / Deficit | $-4,387,262 |
| Total Assets | $31.5M |
| Total Liabilities | $1 |
| Net Assets | $31.5M |
| Operating Margin | -83.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 39.4 months |
Financial Health Grade: B
In 2023, Solon E Summerfield Foundation Inc reported a deficit of $4.4M with expenses exceeding revenue, holds 39.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Solon E Summerfield Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +677.5% | +27.7% | +0.1% |
| 2022 | -86.0% | +14.0% | -9.7% |
| 2021 | +30.9% | +16.9% | +3.4% |
| 2020 | +69.7% | +25.3% | +3.5% |
| 2019 | -33.7% | -9.9% | -4.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1942 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Solon E Summerfield Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Solon E Summerfield Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid or compensated through mechanisms not categorized as officer compensation on the 990, which is a strong positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Solon E Summerfield Foundation Inc's IRS 990 filings:
- Consistent annual expenses exceeding revenue, indicating reliance on asset drawdown.
- Declining asset base over the long term (from $37.7M in 2011 to $31.5M in 2023).
Strengths
The following positive indicators were identified for Solon E Summerfield Foundation Inc:
- Zero reported officer compensation across all filings, indicating efficient use of funds.
- Extremely low liabilities ($1 in recent years), demonstrating strong financial management.
- Substantial asset base ($31.5 million in 2023) provides long-term stability.
- Consistent operation over many years with a clear financial model.
Frequently Asked Questions about Solon E Summerfield Foundation Inc
Is Solon E Summerfield Foundation Inc a legitimate charity?
Solon E Summerfield Foundation Inc (EIN: 131797260) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $20.2M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Solon E Summerfield Foundation Inc spend its money?
Solon E Summerfield Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Solon E Summerfield Foundation Inc tax-deductible?
Solon E Summerfield Foundation Inc is registered as a tax-exempt nonprofit (EIN: 131797260). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Solon E Summerfield Foundation Inc located?
Solon E Summerfield Foundation Inc is headquartered in Bethesda, Maryland and files with the IRS under EIN 131797260.
How many years of IRS 990 filings does Solon E Summerfield Foundation Inc have?
Solon E Summerfield Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $20.2M in total revenue.
Is Solon E Summerfield Foundation Inc. financially sustainable given its consistent spending exceeding revenue?
While the foundation consistently spends more than its annual revenue, its substantial asset base (over $31 million in 2023) allows it to sustain operations by drawing from its endowment. This model is common for grant-making foundations.
What is the primary purpose of the Solon E Summerfield Foundation Inc. given its financial structure?
Based on the financial data, the foundation appears to operate as a grant-making entity, utilizing its endowment to fund its activities, rather than primarily relying on public donations for annual operations.
Why is officer compensation consistently reported as 0%?
A 0% officer compensation suggests that the foundation's officers are either volunteers, compensated through a related entity, or their compensation is categorized differently on the 990, indicating a potential focus on minimizing overhead costs related to executive salaries.
Filing History
IRS 990 filing history for Solon E Summerfield Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Solon E Summerfield Foundation Inc's revenue has grown by 269.1%, moving from $1.4M to $5.2M. Total assets decreased by 16.4% over the same period, from $37.7M to $31.5M. Total functional expenses rose by 489.4%, from $1.6M to $9.6M. In its most recent filing year (2023), Solon E Summerfield Foundation Inc reported a deficit of $4.4M, with expenses exceeding revenue. The organization holds $1 in liabilities against $31.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $31.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.2M | $9.6M | $31.5M | $1 | — | — |
| 2022 | $672K | $7.5M | $31.5M | $1 | — | View 990 |
| 2021 | $4.8M | $6.6M | $34.9M | $1 | — | View 990 |
| 2020 | $3.7M | $5.6M | $33.7M | $1 | — | — |
| 2019 | $2.2M | $4.5M | $32.6M | $1 | — | View 990 |
| 2015 | $3.3M | $5.0M | $34.3M | $13K | — | View 990 |
| 2014 | $5.0M | $4.4M | $36.0M | $0 | — | View 990 |
| 2013 | $1.6M | $3.2M | $35.4M | $0 | — | View 990 |
| 2012 | $2.5M | $3.3M | $37.0M | $0 | — | View 990 |
| 2011 | $1.4M | $1.6M | $37.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.2M, expenses of $9.6M, and assets of $31.5M (revenue +677.5% year-over-year).
- 2022: Revenue of $672K, expenses of $7.5M, and assets of $31.5M (revenue -86.0% year-over-year).
- 2021: Revenue of $4.8M, expenses of $6.6M, and assets of $34.9M (revenue +30.9% year-over-year).
- 2020: Revenue of $3.7M, expenses of $5.6M, and assets of $33.7M (revenue +69.7% year-over-year).
- 2019: Revenue of $2.2M, expenses of $4.5M, and assets of $32.6M (revenue -33.7% year-over-year).
- 2015: Revenue of $3.3M, expenses of $5.0M, and assets of $34.3M (revenue -35.0% year-over-year).
- 2014: Revenue of $5.0M, expenses of $4.4M, and assets of $36.0M (revenue +215.4% year-over-year).
- 2013: Revenue of $1.6M, expenses of $3.2M, and assets of $35.4M (revenue -37.6% year-over-year).
- 2012: Revenue of $2.5M, expenses of $3.3M, and assets of $37.0M (revenue +79.9% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.6M, and assets of $37.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Solon E Summerfield Foundation Inc:
Data Sources and Methodology
This transparency report for Solon E Summerfield Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.