STRATEGY STUDIO / NONPROFIT PEOPLE SEARCH

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Each tax year counts once: when a return was amended, only the latest return for that period is used below (superseded returns stay listed, greyed, under Finances).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.

NameLatest titleYearsLatest year payTotal pay from hereOrganizations
Rene Palacio PRESIDENT & Director2017-2024 $85,804$528,424 1
Fred Ely SECRETARY & TREASURER2017-2024 $0$330,676 1
Unpaid officers and directors · 1 person
NameLatest titleYearsOrganizations
Ronald Williams Director2017-2024 1

People by year

2024 · 3 people listed · 1 paid, $86K · 0 employees · 2 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
RENE PALACIO PRESIDENT & Director1 $0$59,404$26,400 $85,8041
FRED ELY SECRETARY & TREASURER2 $0$0$0 $01
RONALD WILLIAMS Director1 $0$0$0 $01
2023 · 3 people listed · 1 paid, $86K · 0 employees · 2 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
RENE PALACIO PRESIDENT & Director1 $0$59,404$26,400 $85,8041
FRED ELY SECRETARY & TREASURER2 $0$0$0 $01
RONALD WILLIAMS Director1 $0$0$0 $01
2022 · 3 people listed · 1 paid, $80K · 0 employees · 2 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
RENE PALACIO PRESIDENT1 $0$79,529$0 $79,5291
FRED ELY SECRETARY & TREASURER2 $0$0$0 $01
RONALD WILLIAMS BOARD MEMBER1 $0$0$0 $01
2021 · 3 people listed · 2 paid, $89K · 0 employees · 1 volunteer
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
RENE PALACIO PRESIDENT1 $0$33,882$42,150 $76,0321
FRED ELY SECRETARY & TREASURER2 $0$9,030$4,082 $13,1121
RONALD WILLIAMS BOARD MEMBER1 $0$0$0 $01
2020 · 3 people listed · 2 paid, $198K · 0 employees · 3 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
Rene Palacio President1 $0$54,078$56,334 $110,4121
Fred Ely Secretary & Treasurer2 $0$54,180$33,492 $87,6721
Ronald Williams Board Member1 $0$0$0 $01
2019 · 3 people listed · 2 paid, $174K · 0 employees · 3 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
Rene Palacio President1 $0$38,250$52,593 $90,8431
Fred Ely Secretary & Treasurer2 $0$53,343$30,168 $83,5111
Ronald Williams Board Member1 $0$0$0 $01
2018 · 3 people listed · 1 paid, $77K · 0 employees · 2 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
Fred Ely Secretary & Treasurer2 $0$53,127$23,742 $76,8691
Rene Palacio President1 $0$0$0 $01
Ronald Williams Board Member1 $0$0$0 $01
2017 · 3 people listed · 1 paid, $70K · 0 employees · 3 volunteers
NameTitleHrs/wkFrom orgFrom relatedOtherTotalOrgs
Fred Ely Secretary & Treasurer2 $0$48,945$20,567 $69,5121
Rene Palacio President1 $0$0$0 $01
Ronald Williams Board Member1 $0$0$0 $01

Highest-paid independent contractors

2017 · 1 contractor · $103K
NameLocationServicePaid
Curtis Mallet-Prevost Colt & Mosle LLPNew York, NYLegal 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.

YearGrantorGrantor typeAmountPurposeMatched byFiling
2024FOUNDATION FOR WORLD EVANGELISMPublic charity $103,279,000OPERATING SUPPORTein view
2023FOUNDATION FOR WORLD EVANGELISMPublic charity $446,300,000OPERATING SUPPORTein 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.

RevenueExpensesAssetsNet assetsContributionsProgram revenueOfficer payEmployeesVolunteers
2024 · Form 990 period ending 2024-12-31 · view filing · original 990 ↗
$104,295,775$43,309 $77,373,055$77,373,055 $103,279,000$0 $002
2023 · Form 990 period ending 2023-12-31 · view filing · original 990 ↗
$447,080,568$446,711,946 $4,924,079$4,924,079 $446,300,000$0 $002
2022 · Form 990 period ending 2022-12-31 · view filing · original 990 ↗
$100,005$112,362 $3,995,741$3,995,741 $0$0 $002
2021 · Form 990 period ending 2021-12-31 · view filing · original 990 ↗
$100,005$127,532,699 $3,419,609$3,419,609 $0$0 $001
2020 · Form 990 period ending 2020-12-31 · view filing · original 990 ↗
$15$351,941 $50,851,473$50,851,473 $0$0 $003
2019 · Form 990 period ending 2019-12-31 · view filing · original 990 ↗
$3,500,235$4,232,148 $51,203,610$51,203,399 $0$0 $003
2018 · Form 990 period ending 2018-12-31 · view filing · original 990 ↗
$4,200,192$3,234,467 $51,910,523$51,910,312 $0$0 $002
2017 · Form 990 period ending 2017-12-31 · view filing · original 990 ↗
$5,800,368$7,550,875 $50,957,207$50,944,587 $0$0 $003

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
LineAs describedTotalProgramManagementFundraisingShare
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$43,309100%

View the filing

2023 · Form 990 · $446,711,946 spent · pay $0 · grants $446,677,500 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$446,711,946100%

View the filing

2022 · Form 990 · $112,362 spent · pay $0 · grants $106,250 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$112,362100%

View the filing

2021 · Form 990 · $127,532,699 spent · pay $0 · grants $127,517,131 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$127,532,699100%

View the filing

2020 · Form 990 · $351,941 spent · pay $0 · grants $338,800 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$351,941100%

View the filing

2019 · Form 990 · $4,232,148 spent · pay $0 · grants $4,224,249 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$4,232,148100%

View the filing

2018 · Form 990 · $3,234,467 spent · pay $0 · grants $3,224,118 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$3,234,467100%

View the filing

2017 · Form 990 · $7,550,875 spent · pay $0 · grants $7,377,267 · events $0
LineAs describedTotalProgramManagementFundraisingShare
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$7,550,875100%

View the filing