SUMMIT FOUNDATION
2024 · Form 990 · revenue $104.3M · expenses $43K · assets $77.4M
- EIN
- 30-0595477
- Address
- 14830 CHOATE CIR, CHARLOTTE, NC 28273-9105
- NTEE code
- -
- Subsection
- 501(c)(3)
- Ruling year
- 2010
- Cross-check
- ProPublica Nonprofit Explorer
Mission
THE FOUNDATION SEEKS TO FURTHER THE KINGDOM OF GOD BY SUPPORTING BENEFICIARY ORGANIZATIONS AS AN INTEGRAL PART OF THE EVANGELICAL PURPOSES OF THE BENEFICIARY ORGANIZATIONS AND THE WORLDWIDE EVANGELICAL CHRISTIAN MISSIONS AND ACTIVITIES BEING CARRIED ON BY THE BENEFICIARY ORGANIZATIONS.
Each tax year counts once: when a return was amended, only the latest return for that period is used below (superseded returns stay listed, greyed, under Finances).
People paid by the organization
2 people paid across every filing: current people first, then by total pay from this organization. Organizations counts every nonprofit each person appears on.
| Name | Latest title | Years | Latest year pay | Total pay from here | Organizations |
|---|---|---|---|---|---|
| Rene Palacio | PRESIDENT & Director | 2017-2024 | $85,804 | $528,424 | 1 |
| Fred Ely | SECRETARY & TREASURER | 2017-2024 | $0 | $330,676 | 1 |
Unpaid officers and directors · 1 person
| Name | Latest title | Years | Organizations |
|---|---|---|---|
| Ronald Williams | Director | 2017-2024 | 1 |
People by year
2024 · 3 people listed · 1 paid, $86K · 0 employees · 2 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT & Director | 1 | $0 | $59,404 | $26,400 | $85,804 | 1 |
| FRED ELY | SECRETARY & TREASURER | 2 | $0 | $0 | $0 | $0 | 1 |
| RONALD WILLIAMS | Director | 1 | $0 | $0 | $0 | $0 | 1 |
2023 · 3 people listed · 1 paid, $86K · 0 employees · 2 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT & Director | 1 | $0 | $59,404 | $26,400 | $85,804 | 1 |
| FRED ELY | SECRETARY & TREASURER | 2 | $0 | $0 | $0 | $0 | 1 |
| RONALD WILLIAMS | Director | 1 | $0 | $0 | $0 | $0 | 1 |
2022 · 3 people listed · 1 paid, $80K · 0 employees · 2 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT | 1 | $0 | $79,529 | $0 | $79,529 | 1 |
| FRED ELY | SECRETARY & TREASURER | 2 | $0 | $0 | $0 | $0 | 1 |
| RONALD WILLIAMS | BOARD MEMBER | 1 | $0 | $0 | $0 | $0 | 1 |
2021 · 3 people listed · 2 paid, $89K · 0 employees · 1 volunteer
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT | 1 | $0 | $33,882 | $42,150 | $76,032 | 1 |
| FRED ELY | SECRETARY & TREASURER | 2 | $0 | $9,030 | $4,082 | $13,112 | 1 |
| RONALD WILLIAMS | BOARD MEMBER | 1 | $0 | $0 | $0 | $0 | 1 |
2020 · 3 people listed · 2 paid, $198K · 0 employees · 3 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| Rene Palacio | President | 1 | $0 | $54,078 | $56,334 | $110,412 | 1 |
| Fred Ely | Secretary & Treasurer | 2 | $0 | $54,180 | $33,492 | $87,672 | 1 |
| Ronald Williams | Board Member | 1 | $0 | $0 | $0 | $0 | 1 |
2019 · 3 people listed · 2 paid, $174K · 0 employees · 3 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| Rene Palacio | President | 1 | $0 | $38,250 | $52,593 | $90,843 | 1 |
| Fred Ely | Secretary & Treasurer | 2 | $0 | $53,343 | $30,168 | $83,511 | 1 |
| Ronald Williams | Board Member | 1 | $0 | $0 | $0 | $0 | 1 |
2018 · 3 people listed · 1 paid, $77K · 0 employees · 2 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| Fred Ely | Secretary & Treasurer | 2 | $0 | $53,127 | $23,742 | $76,869 | 1 |
| Rene Palacio | President | 1 | $0 | $0 | $0 | $0 | 1 |
| Ronald Williams | Board Member | 1 | $0 | $0 | $0 | $0 | 1 |
2017 · 3 people listed · 1 paid, $70K · 0 employees · 3 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| Fred Ely | Secretary & Treasurer | 2 | $0 | $48,945 | $20,567 | $69,512 | 1 |
| Rene Palacio | President | 1 | $0 | $0 | $0 | $0 | 1 |
| Ronald Williams | Board Member | 1 | $0 | $0 | $0 | $0 | 1 |
Highest-paid independent contractors
2017 · 1 contractor · $103K
| Name | Location | Service | Paid |
|---|---|---|---|
| Curtis Mallet-Prevost Colt & Mosle LLP | New York, NY | Legal Fees | $102,617 |
Who the money went to
Grants this organization reported paying: Schedule I Part II of the Form 990, or the grants-paid list on the 990-PF. Open a year for every recipient. Recipients link to their own page when the grant names an EIN we have (990-PF grants list no EIN, so those link only on an exact, unique name and state). Grants to individuals are counted; their names are not shown.
2023 · 4 grants to organizations · $436.7M
Listed grants add up to $436,677,500; the return's “grants paid” expense line says $446,677,500. Returns can differ here (grants paid vs. accrued, items listed elsewhere); check the filing.
2022 · 2 grants to organizations · $106K
2021 · 4 grants to organizations · $127.5M
2020 · 6 grants to organizations · $339K
2019 · 49 grants to organizations · $4.2M
2018 · 26 grants to organizations · $3.2M
2017 · 26 grants to organizations · $7.4M
Negative amounts are returned or refunded grants; they are listed last and left out of the totals of grants paid.
Who gave
Contributor names are not public for this form type.
Public charities filing Form 990 or 990-EZ report large donors on Schedule B, but the IRS withholds their names and addresses from public copies. Private foundations (990-PF) are different: their contributors are public.
Grants received from DAF sponsors and foundations
2 grants to this organization reported by other filers, $549,579,000 in all. Schedule I grants are matched by the EIN the grantor reported; 990-PF grants list no EIN, so those are matched by exact name and state. Grantor type: private foundation (990-PF), DAF sponsor (answered yes to maintaining donor-advised funds that year), or other public charity. Unusual is not the same as improper. Many of these patterns have ordinary explanations. Check the filing.
| Year | Grantor | Grantor type | Amount | Purpose | Matched by | Filing |
|---|---|---|---|---|---|---|
| 2024 | FOUNDATION FOR WORLD EVANGELISM | Public charity | $103,279,000 | OPERATING SUPPORT | ein | view |
| 2023 | FOUNDATION FOR WORLD EVANGELISM | Public charity | $446,300,000 | OPERATING SUPPORT | ein | view |
Finances
Newest first. Each filing: its name on one row, its figures on the row beneath. Greyed filings are superseded by a later return for the same period and are left out everywhere else on this page.
| Revenue | Expenses | Assets | Net assets | Contributions | Program revenue | Officer pay | Employees | Volunteers |
|---|---|---|---|---|---|---|---|---|
| 2024 · Form 990 | ||||||||
| $104,295,775 | $43,309 | $77,373,055 | $77,373,055 | $103,279,000 | $0 | $0 | 0 | 2 |
| 2023 · Form 990 | ||||||||
| $447,080,568 | $446,711,946 | $4,924,079 | $4,924,079 | $446,300,000 | $0 | $0 | 0 | 2 |
| 2022 · Form 990 | ||||||||
| $100,005 | $112,362 | $3,995,741 | $3,995,741 | $0 | $0 | $0 | 0 | 2 |
| 2021 · Form 990 | ||||||||
| $100,005 | $127,532,699 | $3,419,609 | $3,419,609 | $0 | $0 | $0 | 0 | 1 |
| 2020 · Form 990 | ||||||||
| $15 | $351,941 | $50,851,473 | $50,851,473 | $0 | $0 | $0 | 0 | 3 |
| 2019 · Form 990 | ||||||||
| $3,500,235 | $4,232,148 | $51,203,610 | $51,203,399 | $0 | $0 | $0 | 0 | 3 |
| 2018 · Form 990 | ||||||||
| $4,200,192 | $3,234,467 | $51,910,523 | $51,910,312 | $0 | $0 | $0 | 0 | 2 |
| 2017 · Form 990 | ||||||||
| $5,800,368 | $7,550,875 | $50,957,207 | $50,944,587 | $0 | $0 | $0 | 0 | 3 |
Where the money went
Every expense line on each return, biggest first: Form 990 Part IX (with its program, management and fundraising columns), 990-EZ Part I, or 990-PF Part I. Event marks lines the organization itself describes as events. “Events” in each summary adds those lines, conferences and meetings, and the direct costs of fundraising events. Unusual is not the same as improper. Many of these patterns have ordinary explanations. Check the filing.
2024 · Form 990 · $43,309 spent · pay $0 · grants $0 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Other (as described) | OTHER TYPES OF EXPENSES | $13,908 | - | $13,908 | - | 32.1% |
| Other (as described) | 1897 PORTFOLIO DEDUCTION | $11,990 | - | $11,990 | - | 27.7% |
| Fees: legal | $8,055 | $4,027 | $4,028 | $0 | 18.6% | |
| Interest | $6,917 | $0 | $6,917 | $0 | 16.0% | |
| Fees: accounting | $1,643 | $821 | $822 | $0 | 3.8% | |
| Other (as described) | FOREIGN TAXES PAID | $389 | - | $389 | - | 0.9% |
| All other expenses | $325 | - | $325 | - | 0.8% | |
| Other (as described) | 1897 OTHER DEDUCTIONS | $82 | - | $82 | - | 0.2% |
| Total | $43,309 | 100% |
2023 · Form 990 · $446,711,946 spent · pay $0 · grants $446,677,500 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $446,677,500 | $446,677,500 | - | - | 100.0% | |
| Fees: legal | $28,728 | $14,364 | $14,364 | $0 | 0.0% | |
| Fees: accounting | $2,965 | $1,482 | $1,483 | $0 | 0.0% | |
| Other (as described) | 1897 PORTFOLIO DEDUCTION | $2,753 | - | $2,753 | - | 0.0% |
| Total | $446,711,946 | 100% |
2022 · Form 990 · $112,362 spent · pay $0 · grants $106,250 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $106,250 | $106,250 | - | - | 94.6% | |
| Fees: legal | $3,114 | $1,557 | $1,557 | $0 | 2.8% | |
| Fees: accounting | $2,804 | $1,402 | $1,402 | $0 | 2.5% | |
| Office expenses | $194 | $97 | $97 | $0 | 0.2% | |
| Total | $112,362 | 100% |
2021 · Form 990 · $127,532,699 spent · pay $0 · grants $127,517,131 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $127,517,131 | $127,517,131 | - | - | 100.0% | |
| Fees: legal | $9,997 | $4,998 | $4,999 | $0 | 0.0% | |
| Fees: accounting | $5,500 | $2,750 | $2,750 | $0 | 0.0% | |
| Office expenses | $71 | $35 | $36 | $0 | 0.0% | |
| Total | $127,532,699 | 100% |
2020 · Form 990 · $351,941 spent · pay $0 · grants $338,800 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $338,800 | $338,800 | - | - | 96.3% | |
| Fees: legal | $7,742 | - | $7,742 | - | 2.2% | |
| Fees: accounting | $5,300 | - | $5,300 | - | 1.5% | |
| Office expenses | $99 | - | $99 | - | 0.0% | |
| Total | $351,941 | 100% |
2019 · Form 990 · $4,232,148 spent · pay $0 · grants $4,224,249 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $4,224,249 | $4,224,249 | - | - | 99.8% | |
| Fees: accounting | $5,500 | - | $5,500 | - | 0.1% | |
| Fees: legal | $2,369 | - | $2,369 | - | 0.1% | |
| Office expenses | $30 | - | $30 | - | 0.0% | |
| Total | $4,232,148 | 100% |
2018 · Form 990 · $3,234,467 spent · pay $0 · grants $3,224,118 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $3,224,118 | $3,224,118 | - | - | 99.7% | |
| Fees: legal | $5,449 | - | $5,449 | - | 0.2% | |
| Fees: accounting | $4,900 | - | $4,900 | - | 0.2% | |
| Total | $3,234,467 | 100% |
2017 · Form 990 · $7,550,875 spent · pay $0 · grants $7,377,267 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Grants to US organizations and governments | $7,377,267 | $7,377,267 | - | - | 97.7% | |
| Fees: legal | $114,279 | - | $114,279 | - | 1.5% | |
| Fees: management | $40,000 | - | $40,000 | - | 0.5% | |
| Fees: accounting | $19,300 | - | $19,300 | - | 0.3% | |
| Office expenses | $29 | - | $29 | - | 0.0% | |
| Total | $7,550,875 | 100% |