Overview
What is The Summit Foundation?
The Summit Foundation is a reputable nonprofit organization established in Breckenridge, Colorado. With a focus on grant provision and support services, they aid qualified tax-exempt organizations. For over three decades, they have served as a trusted partner in supporting the entire Summit County community, demonstrating strong leadership to address critical community issues. Recognized as the leading philanthropic organization in Summit County and surrounding communities, the foundation is committed to improving mountain communities by offering leadership and collaborating across boundaries. Additionally, they provide scholarships to help hardworking students pursue their higher education dreams. With a team of nine dedicated individuals, The Summit Foundation continues to make significant contributions to the community.
Official website here: www.summitfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star Rating
The Summit Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The overall score is based on a comprehensive accountability and finance assessment, where the foundation scored exceptionally high, with a 92% rating. This rating indicates that the organization effectively manages its funds and adheres to transparency and governance best practices.
One of the organization's notable strengths is its independent board, consisting entirely of independent members, which enhances decision-making and reduces potential conflicts of interest. Additionally, the foundation demonstrates excellent financial health, with an impressive program expense ratio of 87.43%, indicating that a significant portion of its budget directly supports its mission. The organization's fundraising efficiency is also strong, with only $0.05 spent to raise each dollar.
However, there are some areas for improvement, such as the lack of a whistleblower policy and a document retention and destruction policy, both of which received a score of zero. While these limitations are not unusual in the nonprofit sector, addressing them could further enhance the foundation's governance framework. Overall, The Summit Foundation displays a solid commitment to accountability, making it a reliable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is The Summit Foundation legitimate?
The Summit Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Summit 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $195,953
Professional Fundraising Fees: $0
Other Salaries and Wages: $414,527
For more financial information, click here
Official website here: www.summitfoundation.org
What is the mission statement of The Summit Foundation?
For over three decades, The Summit Foundation has served as a reliable ally, supporting various tax-exempt organizations. This philanthropic organization has demonstrated strong leadership in addressing the most pressing community needs within Summit County and its surrounding communities. Recognized as a leading philanthropic entity, The Summit Foundation is committed to enhancing mountain communities by providing leadership and collaborating across boundaries. Their mission is to create more prosperous mountain communities, striving to make substantial improvements in the region.
Official website here: www.summitfoundation.org
Who is the CEO of The Summit Foundation?
Jeanne Bistranin is the President of The Summit Foundation.
Official website here: www.summitfoundation.org
What is the revenue of The Summit Foundation?
The Summit Foundation's revenue in 2022 was $4,939,479.
Official website here: www.summitfoundation.org
Who are the executives of The Summit Foundation and what are their salaries?
The average compensation at The Summit Foundation during 2022 was $67,831. There are 9 employees and 55 volunteers at The Summit Foundation.
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Official website here: www.summitfoundation.org
Where can I find the form 990 for The Summit Foundation?
The Summit Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.summitfoundation.org
Learn more at the official website: www.summitfoundation.org
Mission Statement of The Summit Foundation
For over three decades, The Summit Foundation has served as a trusted partner, playing a pivotal role in supporting the Summit County community and addressing its pressing needs. Recognized as the leading philanthropic organization in the area, this nonprofit organization has demonstrated a strong commitment to creating even better mountain communities. The Summit Foundation provides leadership and works across all boundaries, aiming to make a significant impact on the local community. By supporting qualified tax-exempt organizations, it contributes to the overall well-being and development of the community, positioning itself as a vital contributor to the area's growth and progress.
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Impact
July, 2024
The Summit Foundation plays a vital role in supporting qualified tax-exempt organizations and hard-working students in achieving their dreams of higher education. By providing grants, support services, and scholarships, the foundation demonstrates a strong commitment to enhancing the Summit County community and addressing critical issues through leadership and seed funding for special initiatives. The foundation's impact is recognized as significant in philanthropy, making it a trusted partner in creating better mountain communities and fostering collaboration across boundaries.
This information is meant to be a general summary of The Summit 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 2022.
- Investment Income: $401,908
- Gross Receipts: $5,102,985
Assets and Liabilities:
- Total Assets: $18,397,790
- Total Liabilities: $393,440
- Net Assets: $18,004,350
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Organization Details
Founding Year
1984
Phone
(970) 453-5970Principal Officer
Jeanne Bistranin
Main Address
PO BOX 4000, BRECKENRIDGE, CO, 80424
Website
www.summitfoundation.orgNTEE Category
Code: T30Z - Philanthropy
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