Summit Area Ymca
Summit Area YMCA: Strong Financials, High Program Spending, but Executive Compensation Lacks Detail
EIN: 221487392 · Summit, NJ · NTEE: P270 · Updated: 2026-04-04
Is Summit Area Ymca Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Summit Area Ymca directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Summit Area Ymca
Summit Area Ymca (EIN: 221487392) is a nonprofit organization based in Summit, NJ, classified under NTEE code P270. The organization reported total revenue of $18.9M and total assets of $49.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Summit Area Ymca's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Summit Area Ymca 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: 6%
- programs: 89%
- fundraising: 5%
According to IRS 990 filings, Summit Area Ymca allocates its expenses as follows: admin: 6%, programs: 89%, fundraising: 5%. With 89% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
In 2022, the CEO's compensation was $250,000, which appears reasonable given the organization's revenue of $16,358,475 and asset base of $44,581,425, though specific performance incentives are not detailed.
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 Summit Area Ymca's IRS 990 filings:
- Executive compensation details, while disclosed, do not provide a clear breakdown of bonuses or performance-based pay, making it difficult to assess the rationale behind the specific amounts.
Strengths
The following positive indicators were identified for Summit Area Ymca:
- Consistently high program spending, with 89% of expenses dedicated to programs in 2022, demonstrating a strong commitment to its mission.
- Healthy and growing asset base, increasing from $22,187,682 in 2016 to $47,984,520 in 2023, indicating strong financial management and stability.
- Consistent revenue generation, with a notable recovery and growth post-2020, reaching $18,645,238 in 2023.
Frequently Asked Questions about Summit Area Ymca
Is Summit Area Ymca a legitimate charity?
Based on AI analysis of IRS 990 filings, Summit Area Ymca (EIN: 221487392) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Summit Area Ymca spend its money?
Summit Area Ymca directs 89% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Summit Area Ymca tax-deductible?
Summit Area Ymca is registered as a tax-exempt nonprofit (EIN: 221487392). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Summit Area Ymca do?
Summit Area Ymca is a nonprofit organization in the Human Services sector, located in Summit, New Jersey. It is classified under NTEE code P270.
How much revenue does Summit Area Ymca have?
Summit Area Ymca reported total revenue of $18,915,552. Based on 13 IRS 990 filings on record.
What are Summit Area Ymca's total assets?
Summit Area Ymca holds total assets of $49,066,138 as reported in IRS 990 filings.
Where is Summit Area Ymca located?
Summit Area Ymca is based in Summit, New Jersey.
What is Summit Area Ymca's EIN?
Summit Area Ymca's Employer Identification Number (EIN) is 221487392. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Summit Area Ymca?
Summit Area Ymca is classified under NTEE code P270 (Human Services).
Is Summit Area Ymca a registered 501(c)(3)?
Yes, Summit Area Ymca is recognized as a tax-exempt organization by the IRS. EIN: 221487392.
Does Summit Area Ymca file IRS Form 990?
Yes, Summit Area Ymca has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Summit Area Ymca's revenue in 2023?
In the 202312 filing period, Summit Area Ymca reported total revenue of $18,645,238, total expenses of $16,560,902, and net assets of $47,984,520.
Is Summit Area Ymca's revenue growing or declining?
Summit Area Ymca's revenue is growing. Revenue went from $16,358,475 (202212) to $18,645,238 (202312), a +14.0% change. Based on 13 filings on record.
What is Summit Area Ymca's most recent 990 filing?
The most recent IRS Form 990 filing for Summit Area Ymca covers tax period 202312. It shows revenue of $18,645,238, expenses of $16,560,902, total assets of $47,984,520, and liabilities of $16,457,921.
How much does Summit Area Ymca spend on programs vs administration?
Based on IRS 990 analysis, Summit Area Ymca allocates approximately 89% of expenses to program services, 6% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Summit Area Ymca a trustworthy charity?
Based on AI analysis of IRS 990 data, Summit Area Ymca appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 3 strengths noted.
What are the red flags for Summit Area Ymca?
The following concerns were identified: Executive compensation details, while disclosed, do not provide a clear breakdown of bonuses or performance-based pay, making it difficult to assess the rationale behind the specific amounts.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Summit Area Ymca's strengths?
Positive indicators for Summit Area Ymca include: Consistently high program spending, with 89% of expenses dedicated to programs in 2022, demonstrating a strong commitment to its mission.. Healthy and growing asset base, increasing from $22,187,682 in 2016 to $47,984,520 in 2023, indicating strong financial management and stability.. Consistent revenue generation, with a notable recovery and growth post-2020, reaching $18,645,238 in 2023.. These findings are derived from AI analysis of the organization's financial filings.
How does Summit Area Ymca compensate executives?
In 2022, the CEO's compensation was $250,000, which appears reasonable given the organization's revenue of $16,358,475 and asset base of $44,581,425, though specific performance incentives are not detailed. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How did the Summit Area YMCA manage to nearly double its assets from $24,094,723 in 2017 to $47,984,520 in 2023, and what specific strategies contributed to this significant growth?
The substantial increase in assets suggests successful capital campaigns, strategic investments, or significant donations over the past six years. Further investigation into their annual reports or specific fundraising initiatives would be needed to pinpoint the exact strategies.
Filing History
IRS 990 filing history for Summit Area Ymca showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Summit Area Ymca's revenue has grown by 43.2%, moving from $13.0M to $18.6M. Total assets increased by 149.2% over the same period, from $19.3M to $48.0M. Total functional expenses rose by 37.9%, from $12.0M to $16.6M. In its most recent filing year (2023), Summit Area Ymca reported a surplus of $2.1M, with revenue exceeding expenses. The organization holds $16.5M in liabilities against $48.0M in assets (debt-to-asset ratio: 34.3%), resulting in net assets of $31.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $18.6M | $16.6M | $48.0M | $16.5M | — | — |
| 2022 | $16.4M | $14.6M | $44.6M | $16.3M | — | View 990 |
| 2021 | $17.2M | $12.2M | $43.7M | $15.5M | — | View 990 |
| 2020 | $8.4M | $11.5M | $40.3M | $17.8M | — | — |
| 2019 | $15.4M | $14.1M | $38.8M | $13.9M | — | View 990 |
| 2018 | $15.8M | $14.1M | $36.1M | $13.5M | — | View 990 |
| 2017 | $14.5M | $13.4M | $24.1M | $2.5M | — | View 990 |
| 2016 | $12.9M | $12.8M | $22.2M | $2.6M | — | View 990 |
| 2015 | $12.6M | $12.7M | $22.0M | $2.9M | — | View 990 |
| 2014 | $13.0M | $12.7M | $22.4M | $3.2M | — | View 990 |
| 2013 | $13.2M | $12.4M | $22.2M | $3.3M | — | View 990 |
| 2012 | $12.5M | $11.7M | $21.2M | $3.3M | — | View 990 |
| 2011 | $13.0M | $12.0M | $19.3M | $2.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $18.6M, expenses of $16.6M, and assets of $48.0M (revenue +14.0% year-over-year).
- 2022: Revenue of $16.4M, expenses of $14.6M, and assets of $44.6M (revenue -5.1% year-over-year).
- 2021: Revenue of $17.2M, expenses of $12.2M, and assets of $43.7M (revenue +104.9% year-over-year).
- 2020: Revenue of $8.4M, expenses of $11.5M, and assets of $40.3M (revenue -45.3% year-over-year).
- 2019: Revenue of $15.4M, expenses of $14.1M, and assets of $38.8M (revenue -2.7% year-over-year).
- 2018: Revenue of $15.8M, expenses of $14.1M, and assets of $36.1M (revenue +8.9% year-over-year).
- 2017: Revenue of $14.5M, expenses of $13.4M, and assets of $24.1M (revenue +12.3% year-over-year).
- 2016: Revenue of $12.9M, expenses of $12.8M, and assets of $22.2M (revenue +2.9% year-over-year).
- 2015: Revenue of $12.6M, expenses of $12.7M, and assets of $22.0M (revenue -3.1% year-over-year).
- 2014: Revenue of $13.0M, expenses of $12.7M, and assets of $22.4M (revenue -1.6% year-over-year).
- 2013: Revenue of $13.2M, expenses of $12.4M, and assets of $22.2M (revenue +5.4% year-over-year).
- 2012: Revenue of $12.5M, expenses of $11.7M, and assets of $21.2M (revenue -4.0% year-over-year).
- 2011: Revenue of $13.0M, expenses of $12.0M, and assets of $19.3M.
Data Sources and Methodology
This transparency report for Summit Area Ymca 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.