Summit54
- Assets
- $1.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Aspen, CO
- Founding
- 04/2011
- Data as of
- 12/2023
- EIN
- 27-2978700
Organization Overview
Summit54 is located in Aspen, CO. The organization was established in 2011. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit54 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Summit54 generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $922.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO IMPROVE COLORADO'S ECONOMY AND SOCIETY THROUGH EFFECTIVE, EFFICIENT, AND ACCOUNTABLE INVESTMENTS IN EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER ADVANTAGE USA: SUMMIT54 CONTINUED ITS PARTNERSHIP WITH SUMMER ADVANTAGE USA TO COMBAT SUMMER LEARNING LOSS. THROUGH A 5-WEEK SUMMER PROGRAM INCLUDING RIGOROUS ACADEMIC INSTRUCTION, PHYSICAL FITNESS, ENRICHMENT PROGRAMS, AND EXTRA-CURRICULAR ACTIVITIES, STUDENTS GAIN AN AVERAGE OF 2.5 MONTHS IN BOTH MATH AND READING SKILLS. THIS UNIQUE, FREE PROGRAM - BASED ON EXTENSIVE NATIONAL RESEARCH - ALLOWS STUDENTS TO RAISE THEIR ACHIEVEMENT, BECOME HEALTHIER AND MORE PHYSICALLY FIT, IMPROVE THEIR SELF-ESTEEM, AND RETURN TO SCHOOL BETTER PREPARED TO SUCCEED ACADEMICALLY, WITH STRONGER MINDS AND BODIES. SUMMIT54'S SUMMER ADVANTAGE PROGRAM SERVES 550 STUDENTS ANNUALLY.
IN 2020, THE ORGANIZATION CREATED A NEW OUTDOOR TUTORING MODEL ENABLING SMALL GROUPS OF ELEMENTARY STUDENTS TO ENHANCE THEIR ACADEMIC LEARNING DURING SCHOOL CLOSURES DUE TO THE COVID-19 PANDEMIC. TODAY, IN PARTNERSHIP WITH ROARING FORK SCHOOL DISTRICT, SUMMIT54 PROVIDES FREE IN-CLASS TUTORING THROUGHOUT THE SCHOOL YEAR TO HUNDREDS OF STUDENTS ANNUALLY. STUDENTS ARE SELECTED BASED ON NEED AND MONITORED FOR ACADEMIC GROWTH THROUGH EXISTING MEASURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri Caine Chair | OfficerTrustee | 30 | $0 |
Fred Lodge Vice Preside | OfficerTrustee | 2 | $0 |
Richard Vossler Treasurer | OfficerTrustee | 2 | $0 |
Ron Olsen Secretary | OfficerTrustee | 2 | $0 |
Romina Chissum Lagos Director | Trustee | 2 | $0 |
Gretchen Cole Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $172,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $870,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,042,826 |
| Total Program Service Revenue | $0 |
| Investment income | $17,351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,060,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $704,025 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,964 |
| Advertising and promotion | $16,869 |
| Office expenses | $6,061 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,345 |
| All other expenses | $0 |
| Total functional expenses | $922,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,354 |
| Savings and temporary cash investments | $1,014,112 |
| Pledges and grants receivable | $317,364 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,556,830 |
| Accounts payable and accrued expenses | $1,650 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,650 |
| Net assets without donor restrictions | $1,555,180 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,556,830 |
Grants Awarded
Over the last fiscal year, Summit54 has awarded $905,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ENTREPRENEURIAL VENTURES IN EDUC PURPOSE: PROGRAM SUPPORT | $725,000 |
COLLEGE TRACK PURPOSE: PROGRAM SUPPORT | $180,000 |