Summit Foundation

Organization Overview

Summit Foundation is located in Charlotte, NC. The organization was established in 2010. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Foundation 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 12/2021, Summit Foundation generated $100.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (43.0%) each year. All expenses for the organization totaled $127.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2017, Summit Foundation has awarded 111 individual grants totaling $142,681,565. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO FURTHER THE KINGDOM OF GOD BY SUPPORTING BENEFICIARY ORGANIZATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION SUPPORTS BENEFICIARY ORGANIZATION'S PROGRAMS THROUGH GRANTS.


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Board, Officers & Key Employees

Name (title)Compensation
Rene Palacio
President
$0
Fred Ely
Secretary & Treasurer
$0
Ronald Williams
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $100,005
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $100,005

Grants Awarded

Over the last fiscal year, Summit Foundation has awarded $127,517,131 in support to 4 organizations.

Grant RecipientAmount

NCF CHARITABLE TRUST

Org PageRecipient Profile

Alpharetta, GA

PURPOSE: MINISTRY SUPPORT

$127,431,523

Richardson, TX

PURPOSE: Ministry Support

$35,000

Colorado Springs, CO

PURPOSE: Ministry Support

$25,608

Chicago, IL

PURPOSE: Ministry Support

$25,000
View Grant Profile

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