THE SUMMIT FOUNDATION (EIN 221948007) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1972

Legal Domicile

Principal Officer

DANA TURK

Phone

6463695516

Tax Period

2024-01-01 to 2024-12-31

THE SUMMIT FOUNDATION, founded in 1972, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 56% operating margin.

Mission

THE SUMMIT FOUNDATION (THE FOUNDATION) IS A NONPROFIT CORPORATION LOCATED IN SUMMIT, NEW JERSEY. ITS PURPOSE IS TO FOSTER PHILANTHROPY AND SERVE THE PUBLIC CHARITABLE, EDUCATIONAL OR BENEVOLENT NEEDS OF THE REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $379,667

Program Service Revenue $0

Investment Income $2,167,883

Other Revenue $0

TOTAL REVENUE $2,547,550

Expense Breakdown

Grants Paid $970,831

Salaries & Benefits $0

Fundraising Expenses $17,364

Program Expenses $970,831

Other Expenses $139,966

TOTAL EXPENSES $1,110,797

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,547,550	$1,555,253	+0.6%
Expenses	$1,110,797	$1,499,902	-0.3%
Net Income	$1,436,753	$55,351	+25.0%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANA TURK	PRESIDENT	7.00	Officer Director	$0	$0	$0
JAMES FLEISCHMANN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
REGINA DALY	SECRETARY	2.00	Officer Director	$0	$0	$0
MARTHA SAYRE	TREASURER	5.00	Officer Director	$0	$0	$0
IRENE MURDOCK	ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
JACK COOPER	PRESIDENT EMERITUS	1.00	Officer Director	$0	$0	$0
CELIA COLBERT	TRUSTEE	1.00	Director	$0	$0	$0
MARY CUMMINS	TRUSTEE	1.00	Director	$0	$0	$0
AMY DISIBIO	TRUSTEE	1.00	Director	$0	$0	$0
PATRICIA FONTAN	TRUSTEE	1.00	Director	$0	$0	$0
PAUL FORMICHELLI	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES GELBER	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER GERARD	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTINE GOTTESMAN	TRUSTEE	1.00	Director	$0	$0	$0
LEAH GRIFFITH	TRUSTEE	1.00	Director	$0	$0	$0
ROB JEFFRIES	TRUSTEE	1.00	Director	$0	$0	$0
KATHERINE KALIN	TRUSTEE	1.00	Director	$0	$0	$0
KELLI MONTGOMERY	TRUSTEE	1.00	Director	$0	$0	$0
SARA REEDER	TRUSTEE	1.00	Director	$0	$0	$0
DENNIS WHITE	TRUSTEE	1.00	Director	$0	$0	$0
MARK YEAGER	TRUSTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,547,550	$1,110,797	$20,717,541	$1,436,753
2023	$1,555,253	$1,499,902	$19,435,836	$55,351
2022	$1,086,760	$1,129,740	$17,845,068	$-42,980
2021	$1,487,909	$1,163,480	$21,049,660	$324,429
2020	$758,069	$1,318,827	$18,575,010	$-560,758
2018	$1,951,931	$1,021,989	$16,314,383	$929,942

THE SUMMIT FOUNDATION