Summit Housing Inc
Summit Housing Inc. consistently spends more than it earns, drawing down assets over time.
EIN: 141990609 · Kansas City, MO · NTEE: L112 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $125K |
| Total Expenses | $34K |
| Program Spending | 80% |
| Net Assets | $1.2M |
| Transparency Score | 75/100 |
Is Summit Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Summit Housing Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Summit Housing Inc
Summit Housing Inc (EIN: 141990609) is a nonprofit organization based in Kansas City, MO, classified under NTEE code L112. The organization reported total revenue of $125K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Summit Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Summit Housing Inc is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -6.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $30K |
| Total Expenses | $34K |
| Surplus / Deficit | $-3,528 |
| Total Assets | $1.2M |
| Total Liabilities | $42K |
| Net Assets | $1.2M |
| Operating Margin | -11.8% |
| Debt-to-Asset Ratio | 3.4% |
| Months of Reserves | 438.6 months |
Financial Health Grade: B
In 2023, Summit Housing Inc reported a deficit of $4K with expenses exceeding revenue, holds 438.6 months of operating reserves (strong position), has a debt-to-asset ratio of 3.4% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2023), Summit Housing Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -69.1% | -78.4% | -0.9% |
| 2023 | +8.2% | +16.4% | -2.9% |
| 2022 | +11.1% | -0.1% | -3.1% |
| 2021 | -5.1% | -0.7% | -3.4% |
| 2020 | -3.3% | +15.8% | -3.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Summit Housing Inc with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Summit Housing Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for a nonprofit of its size.
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 Housing Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in most recent periods, such as $33,536 expenses vs. $30,008 revenue in 202306.
- Gradual decline in total assets over the past decade, from $1,580,655 in 2015 to $1,217,028 currently.
Strengths
The following positive indicators were identified for Summit Housing Inc:
- Zero executive compensation reported across all filings, indicating strong financial stewardship.
- Consistent IRS 990 filing history (13 filings), demonstrating good transparency and compliance.
- Substantial asset base ($1,217,028) provides a buffer despite operating deficits.
Frequently Asked Questions about Summit Housing Inc
Is Summit Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Summit Housing Inc (EIN: 141990609) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Summit Housing Inc spend its money?
Summit Housing Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Summit Housing Inc tax-deductible?
Summit Housing Inc is registered as a tax-exempt nonprofit (EIN: 141990609). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Summit Housing Inc's spending goes to programs?
Summit Housing Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Summit Housing Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Summit Housing Inc is above average for NTEE category L112 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Summit Housing Inc located?
Summit Housing Inc is headquartered in Kansas City, Missouri and files with the IRS under EIN 141990609. It is classified under NTEE code L112.
How many years of IRS 990 filings does Summit Housing Inc have?
Summit Housing Inc has 13 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 $125K in total revenue.
Is Summit Housing Inc. financially sustainable given its consistent operating deficits?
Summit Housing Inc. has consistently reported expenses exceeding revenue in recent years (e.g., $155,098 expenses vs. $97,130 revenue in 202303). While it possesses substantial assets ($1,217,028), this trend of deficit spending is drawing down its reserves and could impact long-term sustainability if not addressed.
What is the primary source of Summit Housing Inc.'s revenue?
Based on the NTEE code L112 (Housing Development, Construction & Management) and the revenue figures, it's likely that revenue comes from program service fees, rental income, or potentially grants related to housing, though specific sources are not detailed in the provided summary.
How has the organization's asset base changed over time?
The organization's assets have gradually decreased over the past decade, from $1,580,655 in 2015 to $1,217,028 currently, reflecting the consistent pattern of expenses exceeding revenue.
Filing History
IRS 990 filing history for Summit Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Summit Housing Inc's revenue has declined by 51.1%, moving from $61K to $30K. Total assets decreased by 27.8% over the same period, from $1.7M to $1.2M. Total functional expenses fell by 66.7%, from $101K to $34K. In its most recent filing year (2023), Summit Housing Inc reported a deficit of $4K, with expenses exceeding revenue. The organization holds $42K in liabilities against $1.2M in assets (debt-to-asset ratio: 3.4%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $30K | $34K | $1.2M | $42K | — | — |
| 2023 | $97K | $155K | $1.2M | $50K | — | — |
| 2022 | $90K | $133K | $1.3M | $28K | — | View 990 |
| 2021 | $81K | $133K | $1.3M | $25K | — | View 990 |
| 2020 | $85K | $134K | $1.4M | $19K | — | View 990 |
| 2019 | $88K | $116K | $1.4M | $17K | — | View 990 |
| 2018 | $92K | $128K | $1.4M | $30K | — | View 990 |
| 2017 | $83K | $117K | $1.5M | $42K | — | View 990 |
| 2016 | $81K | $123K | $1.5M | $42K | — | View 990 |
| 2015 | $72K | $124K | $1.6M | $51K | — | View 990 |
| 2014 | $67K | $116K | $1.6M | $35K | — | View 990 |
| 2013 | $66K | $109K | $1.7M | $28K | — | View 990 |
| 2012 | $61K | $101K | $1.7M | $23K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $30K, expenses of $34K, and assets of $1.2M (revenue -69.1% year-over-year).
- 2023: Revenue of $97K, expenses of $155K, and assets of $1.2M (revenue +8.2% year-over-year).
- 2022: Revenue of $90K, expenses of $133K, and assets of $1.3M (revenue +11.1% year-over-year).
- 2021: Revenue of $81K, expenses of $133K, and assets of $1.3M (revenue -5.1% year-over-year).
- 2020: Revenue of $85K, expenses of $134K, and assets of $1.4M (revenue -3.3% year-over-year).
- 2019: Revenue of $88K, expenses of $116K, and assets of $1.4M (revenue -4.7% year-over-year).
- 2018: Revenue of $92K, expenses of $128K, and assets of $1.4M (revenue +11.1% year-over-year).
- 2017: Revenue of $83K, expenses of $117K, and assets of $1.5M (revenue +2.9% year-over-year).
- 2016: Revenue of $81K, expenses of $123K, and assets of $1.5M (revenue +13.1% year-over-year).
- 2015: Revenue of $72K, expenses of $124K, and assets of $1.6M (revenue +7.5% year-over-year).
- 2014: Revenue of $67K, expenses of $116K, and assets of $1.6M (revenue +0.9% year-over-year).
- 2013: Revenue of $66K, expenses of $109K, and assets of $1.7M (revenue +7.5% year-over-year).
- 2012: Revenue of $61K, expenses of $101K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Summit Housing Inc:
Data Sources and Methodology
This transparency report for Summit Housing 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.