Nonprofit · EIN 30-0595477
SUMMIT FOUNDATION
Also known as RONALD K WILLIAMS
Tax-exempt · CHARLOTTE, NC 28273
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $104,295,775 | $43,309 | $104,252,466 | $77,373,055 | $0 | $77,373,055 |
| December 31, 2023 | 990 | $447,080,568 | $446,711,946 | $368,622 | $4,924,079 | $0 | $4,924,079 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $103,279,000
- Program service revenue
- $0
- Investment income
- $1,016,775
- Net gain from sales of assets
- $9,684
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $8,055
- Accounting fees
- $1,643
- Program services (functional)
- $4,848
- Management and general (functional)
- $38,461
Balance sheet and other
- Total assets, start of year
- $4,924,079
- Total assets, end of year
- $77,373,055
- Total liabilities, end of year
- $0
- Net assets, end of year
- $77,373,055
- Net assets without donor restrictions
- $4,924,079
- Gross unrelated business income
- -$6
- Gross receipts
- $104,295,775
- Employees
- 0
- Volunteers
- 2
- Year formed
- 2009
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT & Director Trustee or director, Officer | 1 | $0 | $59,404 | $26,400 |
| FRED ELY | SECRETARY & TREASURER Trustee or director, Officer | 2 | $0 | $0 | $0 |
| RONALD WILLIAMS | Director Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RENE PALACIO | PRESIDENT & Director Trustee or director, Officer | 1 | $0 | $59,404 | $26,400 |
| FRED ELY | SECRETARY & TREASURER Trustee or director, Officer | 2 | $0 | $0 | $0 |
| RONALD WILLIAMS | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 14830 CHOATE CIR, CHARLOTTE, NC 28273-9105
- In care of
- % FRED ELY
- Principal officer (990 for 2024)
- RENE PALACIO, 14830 Choate Circle, Charlotte, NC 282417900
- Signed the 990
- Fred Ely, SECRETARY, TREASURER
- Phone
- (704) 587-1403
- Return prepared by
- BDO USA
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.
Program accomplishments
- The Foundation supports beneficiary organization's programs through grants.Expenses $4,848
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 30-0595477
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $77,373,055
- Income (IRS master file)
- $104,295,775
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $104,295,775 | $43,309 | $77,373,055 | IRS |
| 990 | December 2023 | $447,080,568 | $446,711,946 | $4,924,079 | XML |
| 990 | December 2022 | $100,005 | $112,362 | $3,995,741 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 30-0595477).
Questions about SUMMIT FOUNDATION
- What is the EIN of SUMMIT FOUNDATION?
- The employer identification number (EIN) of SUMMIT FOUNDATION is 30-0595477.
- Is SUMMIT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to SUMMIT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does SUMMIT FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SUMMIT FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SUMMIT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SUMMIT FOUNDATION?
- The 990 for the year ended December 31, 2024 names RENE PALACIO.
- Who are the officers and directors of SUMMIT FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does SUMMIT FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $104,295,775, expenses of $43,309 and total assets of $77,373,055 at year end.
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