Summit Initiative

Nonprofit profile at a glance

EIN
845066854
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Wenatchee, WA, USA
Phone
4254449923
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Economic Development

Official website

Reported finances

Revenue
$329,399
Expenses
$326,768
Assets
$47,095
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Jason Chudnofsky (Executive Director)

Highest reported compensation

  • Jason Chudnofsky (Executive Director): $80,000 total reported compensation
  • Chris Swan (Program Director): $47,325 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Summit is to equip people to build authentic communities that embrace freedom through God's love, foster hope, demonstrate compassion, and help people discover their true God-given identity and purpose.

What it reported doing in 2024

We want to see this world transformed by the love of God as people experience restoration through connection to God and true community through authentic connection to others. We envision a world where people embrace their journeys and build supportive, empathetic communities marked by hope and purpose.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 81% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 51
  • Accountability: 84
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88%; rating input score 88
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: $29.91 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 39%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 12.6% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -8.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 88% of revenue deployed · 88.7% of spending went to programs
  • Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $290K in reported program spending
  • Leadership: top reported pay $80K · 10 people listed
  • Consistency: 43 of 44 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.