Summit Charter School Foundation Inc
- Assets
- $10.7m
- Revenue
- $951.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cashiers, NC
- Founding
- 03/1998
- Data as of
- 06/2022
- 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 06/2022, Summit Charter School Foundation Inc generated $951.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 7.6% 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
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 |
Chapin Sarah Vice-Chair | OfficerTrustee | 2 | $0 |
Hunter Rob Treasurer | OfficerTrustee | 2 | $0 |
Hudson Andrew Voting Membe | Trustee | 1 | $0 |
Glisson Don Voting Membe | Trustee | 1 | $0 |
Jennings 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 | $45,632 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $725,454 |
| Noncash contributions included in lines 1a–1f | $11,855 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $771,086 |
| Total Program Service Revenue | $0 |
| Investment income | $8,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,297 |
| Net Income from Fundraising Events | $165,130 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $951,435 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $625,413 |
| 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 | $1,051 |
| Fees for services: Accounting | $15,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,813 |
| Office expenses | $3,959 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,225 |
| 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 | $293,857 |
| Insurance | $1,444 |
| All other expenses | $10,110 |
| Total functional expenses | $1,019,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,432 |
| Savings and temporary cash investments | $216,470 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,730 |
| 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 | $9,797,403 |
| Investments—publicly traded securities | $427,440 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,743,475 |
| Accounts payable and accrued expenses | $2,399 |
| 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 | $2,399 |
| Net assets without donor restrictions | $10,718,076 |
| Net assets with donor restrictions | $23,000 |
| 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 | $10,743,475 |