Civic Intelligence

Summit Education Association Inc

990 • Fiscal year 2019 • EIN 20-1853192

Jan 01, 2019 to Dec 31, 2019 • Filed on May 05, 2020

Organization ProfileN/A
8210 W Market StGreensboro, NC 27409

(336) 662-6250

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Net Margin

88th percentile

37%

Higher net margin than 88% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Asset Growth

97th percentile

186%

Faster asset growth than 97% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

153%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$443,681

Up $288,565 (+186%) from 2018

Net Assets

Up

$443,681

Up $288,565 (+186%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin88th percentile

Revenue

Up

$789,345

Up $477,095 (+153%) from 2018

Expenses

Up

$500,780

Up $343,646 (+219%) from 2018

Net Income

Up

$288,565

Up $133,449 (+86%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2018: $155,116Liabilities 2018: $0Net Assets 2018: $155,1162018Assets 2019: $443,681Liabilities 2019: $0Net Assets 2019: $443,6812019Assets 2020: $405,734Liabilities 2020: $0Net Assets 2020: $405,7342020Assets 2021: $404,134Net Assets 2021: $404,1342021Assets 2022: $386,186Liabilities 2022: $02022

Highlighted filing

2019

Assets$443,681
Liabilities$0
Net Assets$443,681
Open 2019 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2018: $312,250Expenses 2018: $157,134Net Income 2018: $155,1162018Revenue 2019: $789,345Expenses 2019: $500,780Net Income 2019: $288,5652019Revenue 2020: $4,133Expenses 2020: $42,080Net Income 2020: -$37,9472020Revenue 2021: $5,090Expenses 2021: $6,690Net Income 2021: -$1,6002021Revenue 2022: $6,222Expenses 2022: $24,170Net Income 2022: -$17,9482022

Highlighted filing

2019

Revenue$789,345
Expenses$500,780
Net Income$288,565
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 5, 2020
Return Version
2019v5.1
Gross Receipts
$789,345
Mission and Program Overview

Mission

To solicit members and tax deductible contributions to support the efforts of summit credit union in providing education scholarships and educational seminars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$155,116$443,681▲ $288,565
Rtn Earn Endowment Incm Other Fnds$155,116$443,681▲ $288,565
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$155,116$443,681▲ $288,565
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$155,116$443,681▲ $288,565
Total Liabilities and Net Assets / Fund Balance$155,116$443,681▲ $288,565
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Jack ThorntonChairman
Dan GreeneVice-chairman
Rick MillerMember
Sharisse FullerSecretary
Paul FrancisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$789,345
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$780,982
Change in Net Assets
$288,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$490,791
Other Expenses$9,989
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$490,491--$490,491
Other Expenses$8,939--$8,939
Fees for Services Accounting-$1,050-$1,050
Grants to Domestic Individuals$300--$300
Total Functional Expenses$499,730$1,050$0$500,780
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Carolinas Credit Union FoundationColumbia, SC501(c)(3)Education$490,491
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“A volunteer group of members support the educational and scholarship programs offered by summit credit union.”

Form 990, Part VI, Section B, Line 11B

“The 990 will be presented to the board after it is filed.”

Form 990, Part VI, Section B, Line 12C

“The question regarding a conflict of interest is asked at the beginning of all board meetings. Dispersed funds are reviewed at each board meeting for potential conflicts of interest. Funds are approved for payment and dispersed using dual control; therefore, no one can both approve an item for payment and disperse the funds.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Education Association Inc
EIN
20-1853192
Phone
3366626250
Address
8210 W MARKET ST, GREENSBORO, NC 27409

Signing Officer

Name
Jack Thornton
Title
Chairman
Phone
3366626250
Signed
2020-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jack Thornton
Formed
2004
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
Raw XML Appendix325 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0TO SOLICIT MEMBERS AND TAX DEDUCTIBLE CONTRIBUTIONS TO SUPPORT THE EFFORTS OF SUMMIT CREDIT UNION IN PROVIDING EDUCATION SCHOLARSHIPS AND EDUCATIONAL SEMINARS.
IRS990/AllOtherContributionsAmt0780982
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IRS990/Desc0TO PROVIDE SUPPORT FOR THE ELIZABETH N. AND JAMES V. HAMILTON SCHOLARSHIP FUND MANAGED BY THE CAROLINAS CREDIT UNION FOUNDATION. SUPPORT FOR THE PATH TO FINANCIAL SUCCESS PROGRAMS OFFERED BY SUMMIT CREDIT UNION.
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CAROLINAS CREDIT UNION FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0561842095
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 1787
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE USE OF GRANT FUNDS MUST MEET THE STATED MISSION OF THE ASSOCIATION AND APPROVED FOR DISTRIBUTION BY THE CHAIRMAN OF THE BOARD.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A VOLUNTEER GROUP OF MEMBERS SUPPORT THE EDUCATIONAL AND SCHOLARSHIP PROGRAMS OFFERED BY SUMMIT CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE PRESENTED TO THE BOARD AFTER IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE QUESTION REGARDING A CONFLICT OF INTEREST IS ASKED AT THE BEGINNING OF ALL BOARD MEETINGS. DISPERSED FUNDS ARE REVIEWED AT EACH BOARD MEETING FOR POTENTIAL CONFLICTS OF INTEREST. FUNDS ARE APPROVED FOR PAYMENT AND DISPERSED USING DUAL CONTROL; THEREFORE, NO ONE CAN BOTH APPROVE AN ITEM FOR PAYMENT AND DISPERSE THE FUNDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.101.54.50
ReturnHeader/FilingSecurityInformation/IPDt02020-05-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm013:53:14
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561138530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUTLER BURKE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CLUB OAKS COURT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINSTONSALEM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027104
ReturnHeader/PreparerPersonGrp/PhoneNum03367682310
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANE R POTTER
ReturnHeader/ReturnTs02020-05-11T12:47:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$443,681
Liabilities
$0
Net assets
$443,681
Revenue
$789,345
Expenses
$500,780
Net income
$288,565
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Summary only. Only limited summary data is available for this year.$3.86$0.00$0.06$0.24$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.04$4.04$0.05$0.07$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.06$0.00$4.06$0.04$0.42$0.38
2019Detailed filing. Detailed filing data is available for this year.$4.44$0.00$4.44$7.89$5.01$2.89
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.00$1.55$3.12$1.57$1.55