Solon E Summerfield Foundation Inc
- Assets
- $31.5m
- Revenue
- $5.2m
- Investments
- $29.4m
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 10/1942
- Data as of
- 12/2023
- EIN
- 13-1797260
Organization Overview
Solon E Summerfield Foundation Inc is located in Bethesda, MD. The organization was established in 1942. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solon E Summerfield Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Solon E Summerfield Foundation Inc generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $9.6m during the year ending 12/2023. While expenses have increased by 16.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Solon E Summerfield Foundation Inc has awarded 282 individual grants totaling $37,863,195. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Rivera Weissblum Director, President | 5 | $5,000 | |
Karen P Balliett Director, Vice President | 5 | $5,000 | |
Anne E Treeger Director, Secretary | 5 | $5,000 | |
Mark A Cogen Director, Treasurer | 5 | $5,000 | |
Alyssa N Cogen Director | 5 | $5,000 | |
Randolph Moore Director | 5 | $5,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intentional Philanthropy | 12/30/23 | $599,750 |
Morgan Stanley Private Wealth Management | 12/30/23 | $449,509 |
Pkf O'connor Davies | 12/30/23 | $52,486 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,608 |
| Dividends & Interest | $1,377,421 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,844,146 |
| Capital Gain Net Income | $3,732,666 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,228,175 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,735 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $24,646 |
| Printing and publications | $0 |
| Other expenses | $24,500 |
| Total operating and administrative expenses | $1,226,146 |
| Contributions, gifts, grants paid | $8,389,291 |
| Total expenses and disbursements | $9,615,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,151,710 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,249,962 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $31,545,609 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Solon E Summerfield Foundation Inc has awarded $15,497,665 in support to 102 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FOUNDATION FOR THE BLIND PURPOSE: ENDOWMENT/GENERAL OPERATING SUPPORT | $12,479 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: PROGRAM SUPPORT - NATIVE PATHWAYS PROGRAM | $101,777 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: PROGRAM SUPPORT - NATIVE PATHWAYS PROGRAM | $2,977 |
ARAB AMERICAN FAMILY SUPPORT CENTER PURPOSE: PROGRAM SUPPORT - MENTAL HEALTH SERVICES | $166,667 |
ARBOR RISING PURPOSE: GENERAL OPERATING SUPPORT | $254,442 |
AT THE TABLE PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |