Overview
What is Summit Educational Foundation?
The Summit Educational Foundation is a nonprofit organization based in Summit, New Jersey. Its primary objective is to enhance and fund teacher- and district-initiated programs that align with the curriculum and district objectives. During the 2022-2023 fiscal year, the foundation awarded 55 grants totaling $375,038, with the largest grants supporting initiatives such as quality decodable book collections, data-rich learning experiences, and culturally responsive learning environments. The foundation's mission is to maintain and enhance the high-quality education in Summit, New Jersey public schools through community funding, a close working relationship with the school district, and careful review, evaluation, and financial oversight of supported initiatives.
Official website here: www.sefnj.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
The Summit Educational Foundation has achieved a solid score of 88%, primarily reflecting its strong accountability and financial management practices. The organization boasts a fully independent board and a high program expense ratio of 93.80%, indicating that a significant portion of its funds is directed toward its charitable mission rather than administrative costs. The presence of an audit and oversight committee further underscores its commitment to transparency.
However, the foundation has some areas requiring improvement. It lacks a whistleblower policy and a document retention and destruction policy, both of which are critical for fostering a culture of accountability and safeguarding organizational integrity. Additionally, the absence of readily available tax forms on the nonprofit's website could hinder transparency efforts, which are crucial for donor trust and engagement.
Overall, while Summit Educational Foundation demonstrates commendable financial practices and governance, addressing the noted policy gaps could enhance its operational effectiveness and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Summit Educational Foundation legitimate?
Summit Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Summit Educational Foundation 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.
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Official website here: www.sefnj.org
What is the mission statement of Summit Educational Foundation?
The Summit Educational Foundation's mission is to enhance the quality of education in a public school system through community-funded grants. This is achieved by supporting innovative and essential educational initiatives, maintaining a close relationship with the school district, and meticulously reviewing, evaluating, and overseeing the financial aspects of the backed projects. During the 2022-23 fiscal year, the foundation awarded 55 grants, totaling $375,038, with significant funding going towards initiatives such as providing quality texts for struggling readers, creating data-rich learning experiences, constructing culturally responsive learning environments, and implementing tier 3 reading intervention strategies.
Official website here: www.sefnj.org
Who is the CEO of Summit Educational Foundation?
Theresa Cowing is the President of Summit Educational Foundation.
Official website here: www.sefnj.org
What is the revenue of Summit Educational Foundation?
Summit Educational Foundation's revenue in 2023 was $689,080.
Official website here: www.sefnj.org
Who are the executives of Summit Educational Foundation and what are their salaries?
There 80 volunteers at Summit Educational Foundation.
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Official website here: www.sefnj.org
Where can I find the form 990 for Summit Educational Foundation?
Summit Educational Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sefnj.org
Learn more at the official website: www.sefnj.org
Mission Statement of Summit Educational Foundation
The Summit Educational Foundation is committed to preserving and enhancing the quality of education in a public school system, specifically located in Summit, New Jersey. They achieve this objective by engaging the community in funding innovative and essential educational grants. The foundation maintains a close working relationship with the school district, meticulously reviewing, evaluating, and overseeing the supported initiatives.
The Annual Fund of the Summit Educational Foundation plays a significant role in this mission. It encourages and finances teacher and district-initiated programs that align with the curriculum and district objectives. In the 2022-23 fiscal year, the Annual Fund awarded 55 grants totaling $375,038. Some of the largest grant awards were utilized to fund initiatives such as providing quality decodable text collections to support all readers (Supporting All Readers with Quality Texts), creating data-rich learning experiences and assessments (Using Formative Assessments to Create Data-Rich Learning Experiences & Assessments), constructing culturally responsive learning environments (Welcoming All - Constructing Culturally Responsive Learning Environments), implementing Tier 3 reading interventions (Tier 3 Reading Intervention), and implementing strategies and assessments to support all readers and writers (Strategies and Assessments to Support All Readers and Writers).
In summary, the Summit Educational Foundation plays a vital role in ensuring the continued success and growth of its community's public school education system. They achieve this by funding innovative projects, collaborating with the school district, and providing careful financial oversight to guarantee the effective use of resources for the betterment of the students.
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Impact
July, 2024
The Summit Educational Foundation's impact lies in its commitment to maintaining and enhancing the quality of education in Summit, New Jersey public schools through community funding of innovative and essential educational grants. In the 2022-23 fiscal year alone, the Foundation awarded 55 grants totaling $375,038 from its annual fund. These grants supported a range of initiatives aimed at advancing the curriculum and district objectives. Notable initiatives funded by the Foundation included supporting all readers with quality texts, creating data-rich learning experiences and assessments, constructing culturally responsive learning environments, implementing tier 3 reading intervention, and providing strategies and assessments to support all readers and writers. Through these grants, the Foundation plays a vital role in enriching the educational experience of students and supporting the professional development of educators in the Summit school district.
This information is meant to be a general summary of Summit Educational Foundation. 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 2023.
- Investment Income: $282,454
- Gross Receipts: $2,268,450
Assets and Liabilities:
- Total Assets: $6,545,923
- Total Liabilities: $970,615
- Net Assets: $5,575,308
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Organization Details
Founding Year
1986
Phone
(908) 400-8756Principal Officer
Theresa Cowing
Main Address
PO BOX 268, SUMMIT, NJ, 079020268
Website
www.sefnj.orgIf you are a representative of Summit Educational Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.