Overview
What is Summit Foundation Inc?
Summit Foundation Inc, located in Getzville, New York, is a nonprofit organization committed to supporting various charitable, scientific, literacy, and educational causes. Primarily, they aid the Summit Center Inc, but they also extend their assistance to other organizations with similar objectives. In 2016, they initiated a $3.7 million capital campaign to renovate and expand the Summit Center Inc's campus. This campaign's goal has since been increased to $4.1 million. The foundation's activities are geared towards providing essential support services.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Summit Foundation Inc has earned an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and transparency. The organization scored a total of 94%, with its rating entirely based on the Accountability & Finance beacon. This score highlights the foundation's strong financial health, commitment to ethical practices, and effective governance.
The foundation demonstrates exceptional governance with a board composed entirely of independent members, achieving a perfect score in that area. Additionally, it maintains clear policies on conflicts of interest and whistleblower protections, ensuring a culture of transparency and integrity. The organization's financial metrics are also noteworthy, with a low liabilities-to-assets ratio and a significant portion of expenses allocated directly to programs, reflecting efficient use of resources.
While the rating reflects strong performance, potential donors and supporters should consider ongoing monitoring of the organization's activities and financial reports to ensure continued compliance with best practices in nonprofit management. Overall, Summit Foundation Inc stands out as a well-managed and responsible entity within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Summit Foundation Inc legitimate?
Summit Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Summit Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Summit Foundation Inc?
The Summit Foundation Inc's mission is centered around providing support services primarily to the Summit Center Inc., as well as backing other organizations that operate exclusively for charitable, scientific, literary, or educational purposes. Their activities are geared towards offering aid to these organizations, promoting their goals and objectives. In 2016, the foundation launched a significant capital campaign, initially set at $3,700,000, to support the renovation and expansion of the Summit Center Inc.'s campus. This campaign goal has since been increased to $4,100,000, demonstrating their commitment to these causes.
Who is the CEO of Summit Foundation Inc?
Lisa A Foti is the Treasurer of Summit Foundation Inc.
What is the revenue of Summit Foundation Inc?
Summit Foundation Inc's revenue in 2022 was $48,121.
Who are the executives of Summit Foundation Inc and what are their salaries?
There 10 volunteers at Summit Foundation Inc.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $164,921
- Other: $10,623
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $272,628
- Other: $16,934
Where can I find the form 990 for Summit Foundation Inc?
Summit Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Summit Foundation Inc
The Summit Foundation Inc, as stated in its mission, is primarily dedicated to providing support services. Its primary focus is on aiding the Summit Center Inc, an organization that operates for charitable, scientific, literary, or educational purposes. Moreover, the Summit Foundation extends its support to other such organizations, contributing to their causes. In 2016, the foundation launched a significant capital campaign with a goal of $3,700,000, aimed at supporting the renovation and expansion of the Summit Center Inc's campus. This goal has since been increased to $4,100,000, demonstrating the foundation's commitment to these initiatives. By providing financial and logistical support to these organizations, the Summit Foundation Inc plays a crucial role in advancing various charitable, scientific, literacy, and educational endeavors.
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Impact
August, 2024
Summit Foundation Inc's impact can be seen in its significant contribution to the Summit Center, Inc. through a capital campaign launched in 2016 to support the renovation and expansion of the Summit Center's campus. Originally aiming for $3,700,000, this goal has now been increased to $4,100,000. By providing support services primarily to the Summit Center, Inc., as well as to other organizations operating exclusively for charitable, scientific, literary, or educational purposes, Summit Foundation Inc is making a tangible difference in the community.
This information is meant to be a general summary of Summit Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $14,121
- Gross Receipts: $48,121
Assets and Liabilities:
- Total Assets: $1,308,590
- Total Liabilities: $97,583
- Net Assets: $1,211,007
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Organization Details
Founding Year
1983
Phone
(716) 629-3400Principal Officer
Lisa A Foti
Main Address
150 STAHL RD, GETZVILLE, NY, 14068
NTEE Category
Code: T60Z - Philanthropy
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