Summit Foundation
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.
Summit Foundation at a glance
- Total assets
- $77,373,055
- +1471.3% vs 2023
- Revenue (2024)
- $104,295,775
- -76.7% vs 2023
- Net investment income (2024)
- $1,016,775
- +30.3% vs 2023
- Expenses (2024)
- $43,309
- -100.0% vs 2023
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who Summit Foundation funds
How this funder distributes its grants
Grant Size Distribution
16 grants across all recorded years
The most common grant size was under $50K: 7 grants of 16 (44%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Summit Foundation gives
- Giving grew 128789% from 2020 to 2023. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $106K (2022) to $436.7M (2023). In 2023 it made 4 grants totaling $436.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NCF Charitable Trust Clearwater, FL | Ministry support | $436,300,000 |
| Sim USA Inc Charlotte, NC | Ministry Support | $340,000 |
| Horizons Expeditions Inc Richmond, VA | Ministry Support | $22,500 |
| CEDE Sports Wheaton, IL | Ministry Support | $15,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $77,373,055 | $104,295,775 | $43,309 | — | — | $1,016,775 |
| 2023 | $4,924,079 | $447,080,568 | $446,711,946 | $436,677,500 | 4 | $780,568 |
| 2022 | $3,995,741 | $100,005 | $112,362 | $106,250 | 2 | $100,005 |
| 2021 | $3,419,609 | $100,005 | $127,532,699 | $127,517,131 | 4 | $100,005 |
| 2020 | $50,851,473 | $15 | $351,941 | $338,800 | 6 | $15 |
About Summit Foundation
Based on IRS filings
Summit Foundation is a public charity, based in Charlotte, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $77.4M in total assets. Net investment income was $1.0M.
Leadership & Key People
Officers and directors from IRS filings
Summit Foundation is led by Rene Palacio, President & Director since 2023 (on filings since 2020); none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Rene Palacio
President & Director
President → President & Director, 2023
On filings since 2020
1 hr/week
No compensation reported
Ronald Williams
Director
Board Member → Director, 2023
On filings since 2020
1 hr/week
No compensation reported
Fred Ely
Secretary & Treasurer
On filings since 2020
2 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Summit Foundation
How large is Summit Foundation?
Summit Foundation reported $77.4M in total assets on its 2024 IRS Form 990. Its revenue that year was $104.3M.
Where does Summit Foundation operate?
Summit Foundation has awarded grants in California, Colorado, Florida, Georgia, Illinois, North Carolina, Texas, Virginia.
What is Summit Foundation's EIN?
Summit Foundation's EIN (Employer Identification Number) is 30-0595477. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS October 4, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS September 6, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS June 6, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS July 23, 2024)
- IRS filings on file for fiscal years 2020–2024
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Summit Foundation down — hundreds of funders to go?