Summit Educational Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
TO MAINTAIN AND ENHANCE THE HIGH QUALITY OF A SUMMIT, NEW JERSEY PUBLIC SCHOOL EDUCATION THROUGH COMMUNITY FUNDING OF INNOVATIVE AND ESSENTIAL EDUCATIONAL GRANTS, A CLOSE WORKING RELATIONSHIP WITH THE SCHOOL DISTRICT, AND CAREFUL REVIEW, EVALUATION AND FINANCIAL OVERSIGHT OF SUPPORTED INITIATIVES.
- Income
- $661,861
- Spending
- $506,499
- Spent on programs
- 86%
- Reserves
- Over 10 years of spending
- Largest source of income
- investment income, 48%
- Employees
- 0
- Volunteers
- 80
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 100 out of 100.
Reserves
35 of 35Spendable reserves would cover more than ten years of spending.
Debt
20 of 20It owes 8% of what it owns.
Living within its means
15 of 15Income exceeded spending by 23% of income.
Income trend
15 of 15Income rose 20% on the year before.
Spending floor
15 of 1586% of spending went to programs and raising each dollar of donations cost 15 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 84 out of 100.
Independent board
25 of 2523 of 23 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $238,239 spent. THE ANNUAL FUND OF THE SUMMIT EDUCATION FOUNDATION ENCOURAGES AND FUNDS TEACHER AND DISTRICT-INITIATED PROGRAMS THAT ADVANCE THE CURRICULUM AND DISTRICT OBJECTIVES. DURING THE 2024-25 FISCAL YEAR, 47 GRANTS TOTALING $238,239 WERE AWARDED FROM THE ANNUAL FUND. THE LARGEST GRANT AWARDS FUNDED THE FOLLOWING INITIATIVES:EXPANSION OF PANORAMA: A VIEW OF THE WHOLE CHILD - $41,704EXTENDING FORMATIVE LICENSE TO ENHANCE INSTRUCTION, ASSESSMENT, AND DATA-DRIVEN PRACTICE - $17,534TEACHING WITH DIGNITY - $16,760ADJUSTABLE DESKS AND SEATING FOR STUDENT PRODUCTIVITY AND WELL-BEING - $12,958MUSIC THERAPY - $11,200
- $183,335 spent. THE ENDOWMENT FUND OF THE SUMMIT EDUCATIONAL FOUNDATION PROVIDES FUNDING FOR STRATEGIC LONG-TERM INITIATIVES CRITICAL TO THE HEALTH OF THE DISTRICT AND ITS ABILITY TO PROVIDE AN EXCELLENT EDUCATIONAL EXPERIENCE FOR ITS STUDENTS. THE ENDOWMENT FUND WAS CREATED AS A WAY TO ENSURE FUTURE FUNDING TO DEVELOP NEW CURRICULUM INITIATIVES AND PROVIDE PROFESSIONAL DEVELOPMENT TO MEET THE NEEDS OF 21ST CENTURY LEARNERS. DURING THE FISCAL YEAR ENDED JUNE 30, 2025, GRANT AWARDED TOTALED $183,335. THE LARGEST GRANT AWARDS FUNDED THE FOLLOWING INITIATIVES:MIDDLE SCHOOL STEAM ENHANCEMENT - $42,840YOUNG TECHNICIANS: ENHANCING STEAM & THEATRE TECHNOLOGY RESOURCES TO SUPPORT ELEMENTARY THEATRE - $21,657AT RISK MENTORING PROGRAM GRADES/AREAS: GRADES 6-8 SCHOOLS: LCJSMS - $15,000
- $15,929 spent. THE SUMMIT EDUCATIONAL FOUNDATION FUNDED SPECIFIC GRANTS WITH CONTRIBUTIONS RECEIVED SUBJECT TO DONOR-IMPOSED RESTRICTIONS.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1988.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Could it be confused with another charity? Worth knowing.
A much larger organization has a similar name: Educational Foundation Inc (Chapel Hill, NC), EIN 56-6058412. If that is the one you meant, check the EIN before giving.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.