Summit Charter School Foundation Inc
- Assets
- $10.9m
- Revenue
- $728.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Cashiers, NC
- Founding
- 03/1998
- Data as of
- 06/2021
- EIN
- 56-2039872
Organization Overview
Summit Charter School Foundation Inc is located in Cashiers, NC. The organization was established in 1998. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Summit Charter School Foundation 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 Charter School Foundation Inc generated $728.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $907.2k during the year ending 06/2021. While expenses have increased by 6.9% 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
SUPPORT ORGANIZATION-SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR CHARTER SCHOOL. THE ORGANIZATION RAISED MONEY TO PURCHASE THE BUILDING, FURNISHINGS AND EQUIPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crawford Josh Chair | OfficerTrustee | 2 | $0 |
Hunter Rob Treasurer | OfficerTrustee | 2 | $0 |
Greene Ralph Treasurer | OfficerTrustee | 2 | $0 |
Jones Melanie Secretary | OfficerTrustee | 2 | $0 |
Glisson Don Voting Membe | Trustee | 1 | $0 |
Chapin Sarah Voting Membe | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bobbitt Design Build Inc Construction | 6/29/19 | $2,797,352 |
He Hodge Co Inc Construction | 6/29/19 | $109,761 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $721,476 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $721,476 |
| Total Program Service Revenue | $0 |
| Investment income | $3,694 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,316 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $728,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $571,000 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,610 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,704 |
| 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 | $292,564 |
| Insurance | $4,643 |
| All other expenses | $340 |
| Total functional expenses | $907,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,064 |
| Savings and temporary cash investments | $18,992 |
| Pledges and grants receivable | $0 |
| 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 | $10,010,210 |
| Investments—publicly traded securities | $381,011 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,882,277 |
| Accounts payable and accrued expenses | $1,845 |
| 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 | $1,845 |
| Net assets without donor restrictions | $10,820,140 |
| Net assets with donor restrictions | $60,292 |
| 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 | $10,882,277 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Summit Charter School Foundation Inc has recieved totaling $102,118.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $19,168 |
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $16,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $14,200 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,750 |
Burruss Foundation Tr 033100 Sarasota, FL PURPOSE: 2021 GENERAL FUNDRAISING CHALLENGE | $10,000 |
Tickle Family Foundation Birmingham, AL PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |