Summit Area Public Foundation is a community foundation operating under the terms of Section 501(c)(3) of the US Internal Revenue Code.
The IRS has ruled that SAPF is not a private foundation under Section 509(a) of the code.
Founded in 1972, SAPF makes grants to tax-exempt organizations that fund programs in Summit, New Jersey, and nearby communities.
At the end of 2017, SAPF had total assets of about $17.3 million, approximately $6.4 million of which was unrestricted funds. We administer over 35 donor-advised and restricted-purpose funds, the largest of which has assets of $5.8 million.
Professional managers invest our funds. Except for investment management and accounting, all work is done by volunteers. We employ no staff.
Our 2017 operating expenses were about $111,000, of which about $97,000 was for investment management and accounting fees. More than 90% of our expenses fund grants and programs.
View our most recent audit report and IRS 990 filing.
View a list of our current Trustees.