Summit School Inc
- Assets
- $43.9m
- Revenue
- $18.8m
- Investments
- $20.2m
- Employees
- 319
- Location
- Winston Salem, NC
- Founding
- 09/1942
- Data as of
- 06/2022
- EIN
- 56-0547519
Organization Overview
Summit School Inc is located in Winston Salem, 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 06/2022, Summit School Inc employed 319 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 06/2022, Summit School Inc generated $18.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $17.5m during the year ending 06/2022. While expenses have increased by 0.5% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIROMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1933, SUMMIT SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM JUNIOR KINDERGARTEN THROUGH 9TH GRADE. SUMMITS PROGRAM FOCUSES ON ACTIVE LEARNING, INDIVIDUALIZED INSTRUCTION, AND ATTENTION TO THE WHOLE CHILD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael J Ebeling Head Of School | Officer | 60 | $295,830 |
Jeanne Sayers Dir Of Develop | Trustee | 45 | $110,874 |
Carter Sturkie Dir Of Fin/oper | Officer | 50 | $132,095 |
Ben Carson Trustee | Trustee | 1 | $0 |
Mark Conger Trustee | Trustee | 1 | $0 |
David Ahn Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Dining Food Service & Catering | 6/29/22 | $1,083,458 |
Long Construction Company Construction | 6/29/22 | $558,426 |
The Budd Group Janitorial | 6/29/22 | $143,669 |
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 | $1,240,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,240,108 |
| Total Program Service Revenue | $15,882,314 |
| Investment income | $306,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $59,591 |
| Net Gain/Loss on Asset Sales | $1,327,976 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,816,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,289,056 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $690,309 |
| Compensation of current officers, directors, key employees. | $480,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,875,212 |
| Pension plan accruals and contributions | $322,177 |
| Other employee benefits | $1,069,061 |
| Payroll taxes | $568,610 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,855 |
| Fees for services: Accounting | $48,624 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $122,838 |
| Fees for services: Other | $0 |
| Advertising and promotion | $46,020 |
| Office expenses | $887,880 |
| Information technology | $63,736 |
| Royalties | $0 |
| Occupancy | $421,074 |
| Travel | $22,610 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $111,750 |
| Interest | $230,703 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,016,441 |
| Insurance | $112,894 |
| All other expenses | $77,218 |
| Total functional expenses | $17,485,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,915,052 |
| Savings and temporary cash investments | $338,086 |
| Pledges and grants receivable | $217,274 |
| Accounts receivable, net | $224,933 |
| 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 | $55,384 |
| Net Land, buildings, and equipment | $17,994,603 |
| Investments—publicly traded securities | $1,536,798 |
| Investments—other securities | $20,228,252 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $414,624 |
| Total assets | $43,925,006 |
| Accounts payable and accrued expenses | $878,569 |
| Grants payable | $0 |
| Deferred revenue | $1,412,558 |
| Tax-exempt bond liabilities | $9,514,163 |
| Escrow or custodial account liability | $228,291 |
| 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 | $26,613 |
| Total liabilities | $12,060,194 |
| Net assets without donor restrictions | $22,048,274 |
| Net assets with donor restrictions | $9,816,538 |
| 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 | $43,925,006 |