Summits Education
- Assets
- $2.9m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Boston, MA
- Founding
- 09/2015
- Data as of
- 07/2023
- EIN
- 47-2768711
Organization Overview
Summits Education is located in Boston, MA. The organization was established in 2015. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2023, Summits Education employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summits Education 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 07/2023, Summits Education generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $3.1m during the year ending 07/2023. While expenses have increased by 15.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUMMITS EDUCATION IS TRANSFORMING EDUCATION SYSTEMS IN THE (CONTINUED ON SCH O) (CONTINUED FROM 990 PAGE 1) WORLD'S MOST VULNERABLE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM - TRANSFORMING EDUCATION SYSTEMS IN RURAL HAITIOPPORTUNITY: IN HAITI, THE VAST MAJORITY OF TEACHERS LACK BASIC TEACHING QUALIFICATIONS. HAITIAN STUDENTS SUFFER FROM ROTE-STYLE INSTRUCTION THAT FAILS TO DEVELOP THE CRITICAL THINKING AND PROBLEM SOLVING SKILLS NECESSARY TO BECOME COMPETITIVE CANDIDATES IN THE WORKFORCE AND MODEL CITIZENS THAT STRENGTHEN COMMUNITIES.AT SUMMITS, WE BELIEVE THAT TRANSFORMATIVE EDUCATION SYSTEMS ARE BUILT ON THE FOUNDATION OF WELL-TRAINED AND WELL-SUPPORTED TEACHERS AND ADMINISTRATORS. (CONTINUED ON SCH O) (CONTINUED FROM 990 PAGE 2)PROJECT DESCRIPTION:SUMMITS PRIMARY: IN HAITI'S CENTRAL PLATEAU, SUMMITS OPERATES A NETWORK OF 39 PRIMARY SCHOOLS SERVING OVER 10,000 STUDENTS. SUMMITS PROVIDES CURRICULUM SUPPORT, FAIR AND CONSISTENT TEACHER COMPENSATION, AND ONGOING TRAINING AND DEVELOPMENT FOR THE 350 TEACHERS AND ADMINISTRATORS IN OUR NETWORK.APPROACH: AT SUMMITS, WE BEGIN OUR WORK BY INVESTING IN THE TEACHERS AND ADMINISTRATORS IN OUR NETWORK OF PRIMARY SCHOOLS BY PROVIDING COMPETITIVE AND CONSISTENT WAGES, INTENSIVE TEACHER TRAININGS, AND ONGOING PROFESSIONAL SUPPORT. THEN, WE ASSEMBLE PARTNERS TO ADDRESS THE ADDITIONAL OBSTACLES TO STUDENT LEARNING.THIS COLLABORATIVE IMPACT APPROACH BRINGS TOGETHER GOVERNMENT, NONPROFIT, AND FOR PROFIT SECTORS IN A STRUCTURED PARTNERSHIP AROUND THE COMMON AGENDA OF STRENGTHENING HAITI'S EDUCATION SYSTEM. THROUGH HIGHLY COORDINATED, METRIC DRIVEN INTERVENTIONS AND A COMMITMENT TO TRANSPARENCY, THIS PARTNERSHIP APPROACH MAXIMIZES IMPACT AND ADDRESSES KEY CHALLENGES (MALNUTRITION, LITERACY, INCOME GENERATION, SANITATION) IN THE COMMUNITIES THAT WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul English Director | Trustee | 2 | $0 |
Anne Mccormack Board Chair | Trustee | 2 | $0 |
Marie Flore Chipps Executive Director | OfficerTrustee | 40 | $0 |
Earl Burch Director | Trustee | 2 | $0 |
Cate Oswald Director | Trustee | 2 | $0 |
Chris Loveless Director | Trustee | 2 | $0 |
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 | $4,020,728 |
| Noncash contributions included in lines 1a–1f | $30,752 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,020,728 |
| Total Program Service Revenue | $9,000 |
| Investment income | $44,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$271 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,074,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,622,635 |
| 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 | $353,481 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,999 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,757 |
| Advertising and promotion | $2,336 |
| Office expenses | $28,670 |
| Information technology | $5,739 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,377 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,108,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,772,686 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,045 |
| 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 | $2,895,731 |
| Accounts payable and accrued expenses | $39,728 |
| Grants payable | $0 |
| Deferred revenue | $324,447 |
| 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 | $364,175 |
| Net assets without donor restrictions | $0 |
| 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 | $2,531,556 |
| Total liabilities and net assets/fund balances | $2,895,731 |