Summit Foundation
501(c)(3) Donations tax-deductible
Only 11% goes to programs $0 to raise $100 Strong reserves Growing revenue
Summit Foundation is a 501(c)(3) organization based in Charlotte, North Carolina, registered in 2010, with $104,295,775 in FY2024 revenue. CharityIndex grades it B, and it directs about 11% of spending to programs.
14830 Choate Cir, Charlotte, NC, 28273 EIN 30-0595477 Since 2010
Revenue (FY2024)
$104.3M
▼ 76.7% vs prior year
Expenses (FY2024)
$43K
Net assets
$77.4M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating11% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Summit Foundation: 11% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating21438 mo reserves · +100% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Summit Foundation: 21438 mo reserves · +100% margin earns a B+ on this criterion. See the exact thresholds →
CGovernance25% of the rating2 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Summit Foundation: 2 of 6 checks met earns a C on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Summit Foundation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To further the kingdom of god by supporting beneficiary organizations.
Contact & location
- Address
- 14830 Choate Cir, Charlotte, NC, 28273
- City
- Charlotte
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $5.8M (FY2017) to $104.3M (FY2024) across 8 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $77.4M
Operating margin
100.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$77.4M
Total liabilities
$0
Net assets
$77.4M
Salaries & benefits
$0
0% of expenses
Board members
3
2 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $104,295,775▼76.7% | $43,309▼100.0% | $77,373,055▲1471% | $77,373,055▲1471% | 990 |
| 2023 | $447,080,568▲446958% | $446,711,946▲397465% | $4,924,079▲23.2% | $4,924,079▲23.2% | 990 |
| 2022 | $100,005 | $112,362▼99.9% | $3,995,741▲16.8% | $3,995,741▲16.8% | 990 |
| 2021 | $100,005▲666600% | $127,532,699▲36137% | $3,419,609▼93.3% | $3,419,609▼93.3% | 990 |
| 2020 | $15▼100.0% | $351,941▼91.7% | $50,851,473▼0.7% | $50,851,473▼0.7% | 990 |
| 2019 | $3,500,235▼16.7% | $4,232,148▲30.8% | $51,203,399▼1.4% | $51,203,610▼1.4% | 990 |
| 2018 | $4,200,192▼27.6% | $3,234,467▼57.2% | $51,910,312▲1.9% | $51,910,523▲1.9% | 990 |
| 2017 | $5,800,368 | $7,550,875 | $50,944,587 | $50,957,207 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Fred Ely | Secretary & Treasurer | 2 | — |
| Rene Palacio | President & Director | 1 | — |
| Ronald Williams | Director | 1 | — |
Top vendors & contractors (FY2017)
| Contractor | Services | Paid |
|---|---|---|
| Curtis Mallet-prevost Colt & Mosle LLP | Legal Fees | $102,617 |
Grants received · $549.6M total
2 grants to Summit Foundation totaling $549.6M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Foundation For World Evangelism | Operating support | 2024 | $103,279,000 |
| Foundation For World Evangelism | Operating support | 2023 | $446,300,000 |
Grants made · $436.7M in FY2023
4 grants totaling $436.7M in FY2023. All grants made by Summit Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| Ncf Charitable Trust | Ministry support | $436,300,000 |
| Sim USA Incorporated | Ministry support | $340,000 |
| Horizons Expeditions | Ministry support | $22,500 |
| Cede Sports | Ministry support | $15,000 |
Frequently asked questions
- Is Summit Foundation a legitimate nonprofit?
- Yes. Summit Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 30-0595477, based in Charlotte, North Carolina. Donations are tax-deductible.
- What is Summit Foundation's EIN?
- Summit Foundation's Employer Identification Number (EIN) is 30-0595477.
- How much revenue does Summit Foundation report?
- Summit Foundation reported $104,295,775 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Summit Foundation's spending goes to programs?
- Summit Foundation spends about 11% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Summit Foundation have?
- CharityIndex grades Summit Foundation B, based on program efficiency and fundraising cost.
- How much does Summit Foundation's highest-paid employee make?
- The highest reported compensation on Summit Foundation's latest Form 990 is $0, paid to Fred Ely (Secretary & Treasurer).
More nonprofits in Charlotte
Explore more
Data for Summit Foundation (EIN 30-0595477) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.