Summit Ministries Inc
- Assets
- $16.1m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 221
- Location
- Manitou Springs, CO
- Founding
- 03/2019
- Data as of
- 12/2022
- EIN
- 73-0792333
Organization Overview
Summit Ministries Inc, operating under the name Summit Ministries, is located in Manitou Springs, CO. The organization was established in 2019. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Summit Ministries employed 221 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Ministries 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 12/2022, Summit Ministries generated $12.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $11.9m during the year ending 12/2022. While expenses have increased by 11.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EQUIP & SUPPORT RISING GENERATIONS TO EMBRACE GOD'S TRUTH & CHAMPION A BIBLICAL WORLDVIEW.
Describe the Organization's Program Activity:
SUMMIT YOUTH MINISTRIES SUMMER PROGRAMS - EDUCATE STUDENTS AGES 16-25 IN CHRISTIAN WORLDVIEW THINKING, PREPARING THEM FOR THE BATTLE OF IDEAS THAT THEY WILL FACE IN COLLEGE AND IN CULTURE. THE TWO-WEEK IN PERSON CONFERENCES FEATURE OVER 60 HOURS AND ONE-WEEK VIRTUAL (THROUGH ZOOM) CONFERENCES FEATURE OVER 30 HOURS OF INSTRUCTION IN WORLDVIEW ANALYSIS, CHRISTIAN APOLOGETICS AND LEADERSHIP FROM A FACULTY OF WORLD-CLASS INSTRUCTORS.
OTHER PROGRAMS - ALUMNI NETWORK, CONSULTING AND HONORARIUMS.
CURRICULUM DEVELOPMENT AND SALES - PUBLISHED MATERIALS TO EDUCATE STUDENTS AND ADULTS IN CHRISTIAN WORLDVIEW THINKING, PREPARING THEM FOR THE BATTLE OF IDEAS THAT THEY WILL FACE IN COLLEGE AND IN CULTURE.
SUMMIT SEMESTER PROGRAM - A 12-WEEK CHRIST-CENTERED ACADEMIC RETREAT, LOCATED NEAR PAGOSA SPRINGS, COLORADO, DESIGNED FOR POST HIGH SCHOOL GRADUATES. THE RETREAT PREPARES YOUNG CHRISTIAN THINKERS TO ADDRESS THE DICHOTOMY SEPARATING FAITH FROM REASON. MAJOR COURSES INCLUDE HISTORY OF CHRISTIAN THOUGHT, CHRISTIANITY AND POLITICS, AND ENGLISH LITERATURE. MINOR COURSES INCLUDE PHILOSOPHY, ART, THEOLOGY & THE CHURCH, CULTURAL APOLOGETICS, AND BIBLE SURVEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 40 | $309,258 |
Name Not Listed Chair Person | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Chair Of Finance Committee | OfficerTrustee | 2 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Global Procurement Solutions Printing And Shipping | 12/30/22 | $518,881 |
The Parable Group Advertising Services | 12/30/22 | $415,915 |
Brewer Direct Inc Advertising Services | 12/30/22 | $331,467 |
Westfall Group Inc Event Coordinator | 12/30/22 | $258,603 |
Earl Cooley (I Know A Guy) Janitorial, Cleaning, General Maintenance | 12/30/22 | $158,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $901,160 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,905,955 |
| Noncash contributions included in lines 1a–1f | $119,987 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,807,115 |
| Total Program Service Revenue | $3,814,739 |
| Investment income | $58,286 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $32,503 |
| Net Rental Income | -$339,091 |
| Net Gain/Loss on Asset Sales | -$99,391 |
| Net Income from Fundraising Events | -$888,417 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,643,304 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,307,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $774,253 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $612,076 |
| Compensation of current officers, directors, key employees. | $275,086 |
| Compensation to disqualified persons | $70,676 |
| Other salaries and wages | $4,023,589 |
| Pension plan accruals and contributions | $93,855 |
| Other employee benefits | $810,579 |
| Payroll taxes | $350,051 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,594 |
| Fees for services: Accounting | $27,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,544 |
| Fees for services: Other | $590,551 |
| Advertising and promotion | $1,004,920 |
| Office expenses | $276,468 |
| Information technology | $336,821 |
| Royalties | $0 |
| Occupancy | $359,669 |
| Travel | $415,808 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,196,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $381,980 |
| Insurance | $59,933 |
| All other expenses | $84,023 |
| Total functional expenses | $11,914,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,505,798 |
| Savings and temporary cash investments | $1,686,516 |
| Pledges and grants receivable | $838,014 |
| Accounts receivable, net | $29,047 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $227,265 |
| Prepaid expenses and deferred charges | $312,982 |
| Net Land, buildings, and equipment | $9,064,009 |
| Investments—publicly traded securities | $2,058,058 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $152,800 |
| Other assets | $271,431 |
| Total assets | $16,145,920 |
| Accounts payable and accrued expenses | $698,959 |
| Grants payable | $0 |
| Deferred revenue | $205,406 |
| 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 | $904,365 |
| Net assets without donor restrictions | $13,857,254 |
| Net assets with donor restrictions | $1,384,301 |
| 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 | $16,145,920 |