Summit Financial Foundation
- Assets
- $206.6k
- Revenue
- $40.2k
- Investments
- $187.5k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-3943622
Organization Overview
Summit Financial Foundation is located in Wilmington, DE. The organization was established in 2017. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Summit Financial 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 12/2022, Summit Financial Foundation generated $40.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $22.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Bennett Dir | 1 | $0 | |
Kim Damiani Dir | 1 | $0 | |
Teresa Hookey Dir, Treas | 1 | $0 | |
Brendan Noonan Dir | 1 | $0 | |
Steve Wilcox Pres, Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $35,840 |
| Interest on Savings | $86 |
| Dividends & Interest | $2,330 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,896 |
| Capital Gain Net Income | $9,947 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $40,152 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $700 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,550 |
| Total operating and administrative expenses | $8,493 |
| Contributions, gifts, grants paid | $13,608 |
| Total expenses and disbursements | $22,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,174 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $206,624 |
| 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, Summit Financial Foundation has awarded $13,608 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
AMYOTROPHIC LATERAL SCLEROSIS ASSOCIATION PURPOSE: CHARITABLE EVENT | $100 |
BAY AREA CRISIS NURSERY PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
CROSSWINDS CHURCH PURPOSE: GENERAL & UNRESTRICTED | $100 |
DUBLIN IRISH GUARD BAND BOOSTERS CLUB PURPOSE: GENERAL & UNRESTRICTED | $400 |
EAST BAY COMMUNITY FOUNDATION PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
FOOTHILL HIGH PURPOSE: CHARITABLE EVENT | $250 |