The Summit at First Hill Dba Mary Schwartz Summit

Nonprofit profile at a glance

EIN
911973348
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2067258800
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults
Affiliation
Judaism

Official website

Reported finances

Revenue
$13,112,511
Expenses
$13,558,599
Assets
$24,777,258
Liabilities
$9,746,282

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

Leadership & pay

35 people listed

Executive titles in this filing

  • Jeffrey Cohen (CEO)

Highest reported compensation

  • Jeffrey Cohen (CEO): $883,634 total reported compensation
  • Christine An (COO): $486,991 total reported compensation
  • Tracey Groscost (CFO): $369,064 total reported compensation

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

Overview

Mission

Provides assisted and independent living to 120 elderly adults in a Jewish environment.

What it reported doing in 2024

The Summit has 61 Independent Living units with a full complement of services including meals, recreational and educational activities provided in a traditional Jewish environment. The Summit also has 65 assisted living units providing assisted care, meal, activities and religious services.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 65
  • Accountability: 98
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.7%; rating input score 96
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.2%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.4%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 95.7% of revenue deployed · 92.2% of spending went to programs
  • Governance: 25 of 26 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.5M in reported program spending
  • Leadership: top reported pay $884K · 35 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $280K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 filed related-organization links
  • 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: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.