Summers Foundation Inc
- Assets
- $325.0k
- Revenue
- $22.2k
- Investments
- $309.4k
- Employees
- 0
- Location
- Harbor Springs, MI
- Founding
- 09/1999
- Data as of
- 12/2022
- EIN
- 38-3403606
Organization Overview
Summers Foundation Inc is located in Harbor Springs, MI. The organization was established in 1999. 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. Summers 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 12/2022, Summers Foundation Inc generated $22.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $35.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Summers Foundation Inc has awarded 151 individual grants totaling $208,578. 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 |
|---|---|---|---|
Elizabeth Skau Treasurer | 0 | $0 | |
David Summers Jr Trustee | 0 | $0 | |
Gregory Skau Trustee | 0 | $0 | |
Matthew Summers Trustee | 0 | $0 | |
Michael Summers Trustee | 0 | $0 | |
Paul Summers Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10 |
| Dividends & Interest | $8,157 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,038 |
| Capital Gain Net Income | $6,414 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $22,205 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,336 |
| Total operating and administrative expenses | $8,748 |
| Contributions, gifts, grants paid | $26,902 |
| Total expenses and disbursements | $35,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,531 |
| Savings and temporary cash investments | $11,977 |
| 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 | $309,444 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $324,952 |
| Accounts payable and accrued expenses | $1,966 |
| 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 | $1,966 |
Grants Awarded
Over the last fiscal year, Summers Foundation Inc has awarded $26,902 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BISSELL PET FOUNDATION PURPOSE: GENERAL FUND | $300 |
CAMP WEHAKEE PURPOSE: GENERAL FUND | $575 |
CHALLENGE MOUNTAIN PURPOSE: GENERAL FUND | $258 |
EXCEPTIONAL RIDERS PURPOSE: GENERAL FUND | $334 |
HAMMERHEAD SWIM CLUB PURPOSE: GENERAL FUND | $645 |
HARBOR SPRING SKI TEAM PURPOSE: GENERAL FUND | $700 |