Summit Initiative
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 23,997 | 2,915 | 21,082 | 86.8 | — |
| 2021 | 239,168 | 184,751 | 54,417 | 4.9 | 92% |
| 2022 | 199,331 | 221,803 | −22,472 | 2.9 | 90% |
| 2023 | 315,191 | 296,403 | 18,788 | 2.9 | 68% |
| 2024 | 277,114 | 304,465 | −27,351 | 1.8 | 67% |
In its most recent public year (2024), this organization spent $27,351 more than it brought in. Its reserves stood at about 1.8 months of spending, down from 86.8 in 2020. Staff pay was 67% of spending. $12,714 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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