Summit School Inc
- Assets
- $46.5m
- Revenue
- $18.7m
- Investments
- $22.9m
- Employees
- 315
- Location
- Winstonsalem, NC
- Founding
- 09/1942
- Data as of
- 06/2021
- EIN
- 56-0547519
Organization Overview
Summit School Inc is located in Winstonsalem, NC. The organization was established in 1942. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Summit School Inc employed 315 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit School Inc 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 06/2021, Summit School Inc generated $18.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $16.9m during the year ending 06/2021. While expenses have increased by 0.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL INSTRUCTION FOR JR. KINDERGARTEN THROUGH NINTH GRADE, INCLUDING AFTER-SCHOOL PROGRAMS, BUS SERVICES, AND CAFETERIA PROGRAM. APPROXIMATELY 557 STUDENTS ARE ENROLLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Ebeling Head Of School | Officer | 60 | $284,400 |
Carter Sturkie Director Of Finance | Officer | 50 | $129,917 |
Jeanne Sayers Director Of Development | 45 | $107,448 | |
Michael Rogers Treasurer | OfficerTrustee | 2 | $0 |
Tonya Deem Secretary | OfficerTrustee | 2 | $0 |
Jennifer Byrne Chair | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Food Service And Catering | 6/29/21 | $893,867 |
Veracross School Software | 6/29/21 | $101,535 |
The Budd Group Inc Custodial And Landscaping | 6/29/21 | $393,871 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $339,085 |
| Related organizations | $0 |
| Government grants | $1,875,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $931,974 |
| Noncash contributions included in lines 1a–1f | $178,949 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,146,059 |
| Total Program Service Revenue | $14,355,035 |
| Investment income | $362,993 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $82,136 |
| Net Gain/Loss on Asset Sales | $611,672 |
| Net Income from Fundraising Events | $124,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,682,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,448,675 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $462,949 |
| Compensation of current officers, directors, key employees. | $322,198 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,954,973 |
| Pension plan accruals and contributions | $300,365 |
| Other employee benefits | $1,100,408 |
| Payroll taxes | $545,264 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,147 |
| Fees for services: Accounting | $58,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $104,612 |
| Fees for services: Other | $1,623,011 |
| Advertising and promotion | $26,996 |
| Office expenses | $730,514 |
| Information technology | $77,731 |
| Royalties | $0 |
| Occupancy | $370,458 |
| Travel | $18,557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,952 |
| Interest | $236,770 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,011,146 |
| Insurance | $92,570 |
| All other expenses | $4,316 |
| Total functional expenses | $16,920,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,489,805 |
| Savings and temporary cash investments | $294,364 |
| Pledges and grants receivable | $135,918 |
| Accounts receivable, net | $152,603 |
| 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 | $62,664 |
| Net Land, buildings, and equipment | $17,362,903 |
| Investments—publicly traded securities | $1,653,191 |
| Investments—other securities | $22,936,933 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $407,965 |
| Total assets | $46,496,346 |
| Accounts payable and accrued expenses | $935,474 |
| Grants payable | $0 |
| Deferred revenue | $785,722 |
| Tax-exempt bond liabilities | $10,206,355 |
| Escrow or custodial account liability | $139,530 |
| 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 | $462,804 |
| Total liabilities | $12,529,885 |
| Net assets without donor restrictions | $23,214,160 |
| Net assets with donor restrictions | $10,752,301 |
| 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 | $46,496,346 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Summit School Inc has recieved totaling $310,303.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 68 GRANT(S) FOR VARYING PURPOSES | $249,327 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $32,476 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 6 GRANT(S) FOR VARYING PURPOSES | $7,500 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $6,000 |
Mebane Charitable Foundation Inc Garden City, NY PURPOSE: GENERAL PURPOSE | $5,000 |
Morris And Gertrude Brenner Foundation Winstonsalem, NC PURPOSE: GENERAL SUPPORT | $3,000 |
Endowment Analysis
| Beg. Balance | $15,210,851 |
| Earnings | $4,364,994 |
| Admin Expense | $37,535 |
| Net Contributions | $510,490 |
| Other Expense | $642,590 |
| Grants | $55,395 |
| Ending Balance | $19,350,815 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |