Summit Educational Foundation Inc
Summit Educational Foundation: Strong Financials, Low Program Spending
EIN: 222871770 · Summit, NJ · Updated: 2026-04-04
Is Summit Educational Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Summit Educational Foundation Inc directs 30% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Summit Educational Foundation Inc
Summit Educational Foundation Inc (EIN: 222871770) is a nonprofit organization based in Summit, NJ. The organization reported total revenue of $1.4M and total assets of $7.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Summit Educational Foundation Inc'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 Educational Foundation Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 35%
- programs: 30%
- fundraising: 35%
According to IRS 990 filings, Summit Educational Foundation Inc allocates its expenses as follows: admin: 35%, programs: 30%, fundraising: 35%. Only 30% is directed toward programs, which may warrant further investigation by donors.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, as 'c0%' likely indicates no compensation reported for key employees in the summarized filings.
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 Educational Foundation Inc's IRS 990 filings:
- Program spending (30%) is significantly lower than administrative (35%) and fundraising (35%) expenses, raising questions about direct impact.
- A notable drop in revenue from $1,144,101 in 2021 to $418,954 in 2020 and then a recovery to $1,436,330 in 2024 suggests potential revenue volatility.
- The 'c0%' for compensation across all years might indicate that key personnel are volunteers or compensated through other means not captured in this summary, which could be a lack of transparency.
Strengths
The following positive indicators were identified for Summit Educational Foundation Inc:
- Consistent asset growth from $5,665,935 in 2017 to $7,268,741 in 2024 demonstrates strong financial management and stability.
- The organization maintains a healthy reserve, with assets significantly exceeding liabilities.
- Revenue has shown a strong rebound in 2024 to $1,436,330, indicating renewed donor support or successful fundraising efforts.
Frequently Asked Questions about Summit Educational Foundation Inc
Is Summit Educational Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Summit Educational Foundation Inc (EIN: 222871770) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Summit Educational Foundation Inc spend its money?
Summit Educational Foundation Inc directs 30% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Summit Educational Foundation Inc tax-deductible?
Summit Educational Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222871770). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Summit Educational Foundation Inc do?
Summit Educational Foundation Inc is a nonprofit organization in the Unknown sector, located in Summit, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Summit Educational Foundation Inc have?
Summit Educational Foundation Inc reported total revenue of $1,436,330. Based on 14 IRS 990 filings on record.
What are Summit Educational Foundation Inc's total assets?
Summit Educational Foundation Inc holds total assets of $7,268,741 as reported in IRS 990 filings.
Where is Summit Educational Foundation Inc located?
Summit Educational Foundation Inc is based in Summit, New Jersey.
What is Summit Educational Foundation Inc's EIN?
Summit Educational Foundation Inc's Employer Identification Number (EIN) is 222871770. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Summit Educational Foundation Inc?
Summit Educational Foundation Inc is classified under NTEE code Unknown (Unknown).
Is Summit Educational Foundation Inc a registered 501(c)(3)?
Summit Educational Foundation Inc appears in IRS records (EIN: 222871770). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Summit Educational Foundation Inc file IRS Form 990?
Yes, Summit Educational Foundation Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Summit Educational Foundation Inc's revenue in 2024?
In the 202406 filing period, Summit Educational Foundation Inc reported total revenue of $549,362, total expenses of $708,184, and net assets of $6,988,462.
Is Summit Educational Foundation Inc's revenue growing or declining?
Summit Educational Foundation Inc's revenue is declining. Revenue went from $689,080 (202306) to $549,362 (202406), a -20.3% change. Based on 14 filings on record.
What is Summit Educational Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Summit Educational Foundation Inc covers tax period 202406. It shows revenue of $549,362, expenses of $708,184, total assets of $6,988,462, and liabilities of $858,721.
How much does Summit Educational Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Summit Educational Foundation Inc allocates approximately 30% of expenses to program services, 35% to administrative costs, and 35% to fundraising. Overhead costs appear high relative to program spending.
Is Summit Educational Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Summit Educational Foundation Inc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Summit Educational Foundation Inc?
The following concerns were identified: Program spending (30%) is significantly lower than administrative (35%) and fundraising (35%) expenses, raising questions about direct impact.. A notable drop in revenue from $1,144,101 in 2021 to $418,954 in 2020 and then a recovery to $1,436,330 in 2024 suggests potential revenue volatility.. The 'c0%' for compensation across all years might indicate that key personnel are volunteers or compensated through other means not captured in this summary, which could be a lack of transparency.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Summit Educational Foundation Inc's strengths?
Positive indicators for Summit Educational Foundation Inc include: Consistent asset growth from $5,665,935 in 2017 to $7,268,741 in 2024 demonstrates strong financial management and stability.. The organization maintains a healthy reserve, with assets significantly exceeding liabilities.. Revenue has shown a strong rebound in 2024 to $1,436,330, indicating renewed donor support or successful fundraising efforts.. These findings are derived from AI analysis of the organization's financial filings.
How does Summit Educational Foundation Inc compensate executives?
Executive compensation is not explicitly detailed in the provided data, as 'c0%' likely indicates no compensation reported for key employees in the summarized filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent 'c0%' for compensation, how does Summit Educational Foundation Inc. manage its operational leadership and administrative functions?
The 'c0%' for compensation across all years suggests that key personnel, including executives, may be volunteers or compensated through a related entity not directly reported in these summaries. This warrants further investigation into their operational structure and staffing model.
What specific programs or initiatives account for the 30% program spending, and how is their impact measured?
With only 30% of spending allocated to programs, understanding the specific initiatives and their measurable outcomes is crucial to assess the organization's direct impact on its mission. This low percentage compared to administrative and fundraising costs suggests a need for more detailed program reporting.
Filing History
IRS 990 filing history for Summit Educational Foundation Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Summit Educational Foundation Inc's revenue has declined by 60.2%, moving from $1.4M to $549K. Total assets increased by 205.5% over the same period, from $2.3M to $7.0M. Total functional expenses rose by 47%, from $482K to $708K. In its most recent filing year (2024), Summit Educational Foundation Inc reported a deficit of $159K, with expenses exceeding revenue. The organization holds $859K in liabilities against $7.0M in assets (debt-to-asset ratio: 12.3%), resulting in net assets of $6.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $549K | $708K | $7.0M | $859K | — | — |
| 2023 | $689K | $656K | $6.5M | $971K | — | View 990 |
| 2022 | $702K | $1.4M | $6.8M | $1.5M | — | View 990 |
| 2021 | $1.1M | $807K | $7.9M | $800K | — | — |
| 2020 | $419K | $488K | $6.3M | $598K | — | View 990 |
| 2019 | $673K | $906K | $6.4M | $894K | — | View 990 |
| 2018 | $870K | $419K | $6.1M | $438K | — | View 990 |
| 2017 | $544K | $549K | $5.7M | $793K | — | View 990 |
| 2016 | $748K | $302K | $5.2M | $679K | — | View 990 |
| 2015 | $644K | $757K | $5.1M | $844K | — | View 990 |
| 2014 | $575K | $588K | $4.9M | $602K | — | View 990 |
| 2013 | $1.1M | $323K | $3.9M | $0 | — | View 990 |
| 2012 | $975K | $432K | $2.8M | $0 | — | View 990 |
| 2011 | $1.4M | $482K | $2.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $549K, expenses of $708K, and assets of $7.0M (revenue -20.3% year-over-year).
- 2023: Revenue of $689K, expenses of $656K, and assets of $6.5M (revenue -1.8% year-over-year).
- 2022: Revenue of $702K, expenses of $1.4M, and assets of $6.8M (revenue -38.6% year-over-year).
- 2021: Revenue of $1.1M, expenses of $807K, and assets of $7.9M (revenue +173.1% year-over-year).
- 2020: Revenue of $419K, expenses of $488K, and assets of $6.3M (revenue -37.7% year-over-year).
- 2019: Revenue of $673K, expenses of $906K, and assets of $6.4M (revenue -22.6% year-over-year).
- 2018: Revenue of $870K, expenses of $419K, and assets of $6.1M (revenue +59.9% year-over-year).
- 2017: Revenue of $544K, expenses of $549K, and assets of $5.7M (revenue -27.3% year-over-year).
- 2016: Revenue of $748K, expenses of $302K, and assets of $5.2M (revenue +16.1% year-over-year).
- 2015: Revenue of $644K, expenses of $757K, and assets of $5.1M (revenue +12.1% year-over-year).
- 2014: Revenue of $575K, expenses of $588K, and assets of $4.9M (revenue -49.4% year-over-year).
- 2013: Revenue of $1.1M, expenses of $323K, and assets of $3.9M (revenue +16.4% year-over-year).
- 2012: Revenue of $975K, expenses of $432K, and assets of $2.8M (revenue -29.3% year-over-year).
- 2011: Revenue of $1.4M, expenses of $482K, and assets of $2.3M.
Data Sources and Methodology
This transparency report for Summit Educational 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.