Civic Intelligence

Summit Academy Charter School

990 • Fiscal year 2010 • EIN 26-4243160

Jul 01, 2009 to Jun 30, 2010 • Filed on May 12, 2011

Organization ProfileWWW.SUMMITACADEMYCHARTERSCHOOL.ORG

View Organization Page

27 HUNTINGTON STREET No 32111231
Siviq Scores

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

Liabilities / Assets

66th percentile

0.29x

Higher debt load relative to assets than 66% of similar nonprofits.

2010 filings • NTEE B • $1M-$5M nonprofits • Source year 2010

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2010

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2010

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2010

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2010

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets66th percentile

Assets

$714,374

No earlier filing loaded for comparison.

Net Assets

$508,121

No earlier filing loaded for comparison.

Liabilities

$206,253

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$1,735,368

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $714,374Liabilities 2010: $206,253Net Assets 2010: $508,1212010Assets 2011: $1,217,750Liabilities 2011: $153,442Net Assets 2011: $1,064,3082011Assets 2012: $1,593,061Liabilities 2012: $215,937Net Assets 2012: $1,377,1242012Assets 2013: $1,347,590Liabilities 2013: $355,423Net Assets 2013: $992,1672013Assets 2014: $965,098Liabilities 2014: $346,229Net Assets 2014: $618,8692014Assets 2015: $1,381,779Liabilities 2015: $376,599Net Assets 2015: $1,005,1802015Assets 2016: $769,055Liabilities 2016: $531,504Net Assets 2016: $237,5512016Assets 2017: $861,731Liabilities 2017: $444,643Net Assets 2017: $417,0882017Assets 2018: $936,033Liabilities 2018: $375,618Net Assets 2018: $560,4152018Assets 2019: $1,701,641Liabilities 2019: $544,500Net Assets 2019: $1,157,1412019Assets 2020: $2,728,687Liabilities 2020: $1,109,019Net Assets 2020: $1,619,6682020Assets 2021: $3,461,945Liabilities 2021: $402,467Net Assets 2021: $3,059,4782021Assets 2022: $3,506,747Liabilities 2022: $284,841Net Assets 2022: $3,221,9062022Assets 2023: $3,028,371Liabilities 2023: $403,313Net Assets 2023: $2,625,0582023Assets 2024: $2,559,519Liabilities 2024: $396,611Net Assets 2024: $2,162,9082024Assets 2025: $2,305,837Liabilities 2025: $453,571Net Assets 2025: $1,852,2662025

Highlighted filing

2010

Assets$714,374
Liabilities$206,253
Net Assets$508,121
Open 2010 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,735,3682010Expenses 2011: $2,652,0822011Expenses 2012: $3,680,1042012Expenses 2013: $4,535,7592013Revenue 2014: $4,631,739Expenses 2014: $5,005,037Net Income 2014: -$373,2982014Revenue 2015: $5,323,153Expenses 2015: $4,936,842Net Income 2015: $386,3112015Revenue 2016: $5,279,543Expenses 2016: $6,047,172Net Income 2016: -$767,6292016Revenue 2017: $5,567,173Expenses 2017: $5,387,636Net Income 2017: $179,5372017Revenue 2018: $5,786,589Expenses 2018: $5,643,262Net Income 2018: $143,3272018Revenue 2019: $5,969,419Expenses 2019: $5,372,693Net Income 2019: $596,7262019Revenue 2020: $5,547,295Expenses 2020: $5,084,768Net Income 2020: $462,5272020Revenue 2021: $5,981,816Expenses 2021: $4,542,006Net Income 2021: $1,439,8102021Revenue 2022: $5,005,181Expenses 2022: $4,842,753Net Income 2022: $162,4282022Revenue 2023: $4,869,121Expenses 2023: $5,465,969Net Income 2023: -$596,8482023Revenue 2024: $5,724,794Expenses 2024: $6,186,944Net Income 2024: -$462,1502024Revenue 2025: $6,200,134Expenses 2025: $6,510,776Net Income 2025: -$310,6422025

Highlighted filing

2010

Revenue-
Expenses$1,735,368
Net Income-
Open 2010 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2009 to Jun 30, 2010
Signed
May 12, 2011
Return Version
2009v1.7
Gross Receipts
$1,969,005
Mission and Program Overview

Mission

Summit academy charter school bridges the gap between aspirations and reality by preparing sixth through twelfth-grade students to gain acceptance to, excel in, and graduate from college by using three pillars of success: mastery of core subjects, character building, and community leadership.by engaging students in an academically rigorous, college-preparatory curriculum, competitive athletics program, and comprehensive fine arts academy, summit academy will prepare our young people to participate meaningfully in the greater economy and expand their choices and opportunities.

Filing and Contact Details

Filer

EIN
26-4243160
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0ON JULY 1, 2009, SUMMIT ACADEMY CHARTER SCHOOL ("THE SCHOOL") ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE.
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IRS990ScheduleE/GovtFinancialAidExplanation0THE ORGANIZATION RECEIVED A FEDERAL PLANNING GRANT FROM THE NYS EDUCATION DEPARTMENT. THE GRANT AMOUNT WAS $633,315 FOR THE FISCAL YEAR ENDED 6/30/10.
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IRS990ScheduleE/PubViaBroadcastMediaExpln0SUMMIT ACADEMY PUBLICIZED OUR RADICALLY NONDISCRIMINATORY POLICY DURING THE REGISTRATION PERIOD BY LISTING THE POLICY IN OUR NEWSPAPER ADVERTISEMENT, ENROLLMENT APPLICATIONS AND ON OUR PUBLIC WEBSITE.
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IRS990ScheduleO/GeneralExplanation/Explanation0THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR. AFTER THE 990 HAS BEEN REVIEWED A COPY IS THEN FORWARDED ELECTRONICALLY TO EACH BOARD MEMBER PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/GeneralExplanation/Explanation1EACH OFFICER, TRUSTEE, AND KEY EMPLOYEE SHALL DISCLOSE IN WRITING ANNUALLY ALL CONFLICTS TO THE BOARD PRIOR TO THE DISCUSSION OF THE UNDERLYING MATTER OR TRANSACTION BY THE BOARD AND SHALL DRAW TO THE ATTENTION OF THE BOARD SUCH CONFLICT AT ANY SUBSEQUENT MEETINGS AT WHICH SUCH MATTER OR TRANSACTION IS DISCUSSED. FOLLOWING SUCH DISCLOSURE, A TRUSTEE SHALL BE ENTITLED TO TAKE PART IN THE DISCUSSIONS OF THE BOARD CONCERNING SUCH MATTER OR TRANSACTION AND SHALL BE CONSIDERED IN DETERMINING WHETHER A QUORUM IS PRESENT, BUT SHALL NOT BE ENTITLED TO VOTE ON THE APPLICABLE MATTER OR TRANSACTION. THE QUESTION OF WHETHER A CONFLICT EXISTS SHALL, IN THE ABSENCE OF CERTAINTY, BE DETERMINED BY THE VOTE OF A MAJORITY OF DISINTERESTED DIRECTORS PRESENT AT THE MEETING CALLED FOR THE PURPOSE OF DISCUSSING THE TRANSACTION OR MATTER TO WHICH THE CONFLICT RELATES.
IRS990ScheduleO/GeneralExplanation/Explanation2THE BOARD OF DIRECTORS OF SUMMIT ACADEMY CHARTER SCHOOL DETERMINED AND APPROVED THE SALARIES OF THE EXECUTIVE DIRECTOR AND PRINCIPAL OF THE SCHOOL TO ENSURE SALARIES ARE COMPARABLE WITH THOSE OF OTHER SCHOOLS WITHIN THE CITY IN WHICH THE SCHOOL OPERATES.
IRS990ScheduleO/GeneralExplanation/Explanation3THE DOCUMENTS REFERRED TO IN THIS SECTION ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation4THE BOARD OF TRUSTEES ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS.
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/GeneralExplanation/Identifier4FORM 990, PART XI, LINE 2C
IRS990/ScheduleORequired01
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1051 SAINT JOHNS PLACE
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City0BROOKLYN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State0NY
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode011217
IRS990ScheduleR/Form990ScheduleRPartII/DirectControllingEntityNA0N/A
IRS990ScheduleR/Form990ScheduleRPartII/EIN0262054485
IRS990ScheduleR/Form990ScheduleRPartII/ExemptCodeSection0501(c)(3)
IRS990ScheduleR/Form990ScheduleRPartII/LegalDomicileState0NY
IRS990ScheduleR/Form990ScheduleRPartII/NameOfDisregardedEntity/BusinessNameLine10FRIENDS OF SUMMIT INC
IRS990ScheduleR/Form990ScheduleRPartII/PrimaryActivities0FUNDRAISING
IRS990ScheduleR/Form990ScheduleRPartII/PublicCharityStatus0Line 7
IRS990ScheduleR/GiftGrantOrCapContrFrOtherOrg00
IRS990ScheduleR/GiftGrantOrCapContrToOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesFromOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrg00
IRS990ScheduleR/OtherTransferFromOtherOrg00
IRS990ScheduleR/OtherTransferToOtherOrg00
IRS990ScheduleR/PerformOfServicesByOtherOrgs00
IRS990ScheduleR/PerformOfServicesForOtherOrgs00
IRS990ScheduleR/PurchaseOfAssetsFromOtherOrg00
IRS990ScheduleR/ReceiptOfIntAnnRentsRoyalties00
IRS990ScheduleR/ReimbursementPaidByOtherOrg00
IRS990ScheduleR/ReimbursementPaidToOtherOrg00
IRS990ScheduleR/RentalOfFacilitiesFrOtherOrgs00
IRS990ScheduleR/RentalOfFacilitiesToOtherOrgs00
IRS990ScheduleR/SaleOfAssetsToOtherOrg00
IRS990ScheduleR/SharingOfFacilities00
IRS990ScheduleR/SharingOfPaidEmployees00
IRS990/School01
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0NY
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/TemporarilyRestrictedNetAssets/BOY050000
IRS990/TemporarilyRestrictedNetAssets/EOY00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1027 HUNTINGTON STREET No 321
IRS990/TheBooksAreInCareOf/AddressUS/City0BROOKLYN
IRS990/TheBooksAreInCareOf/AddressUS/State0NY
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode011231
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10SAMEASE HANDSHAW
IRS990/TheBooksAreInCareOf/TelephoneNumber03472426710
IRS990/TotalAssets/BOY0317558
IRS990/TotalAssetsBOY0317558
IRS990/TotalAssets/EOY0714374
IRS990/TotalAssetsEOY0714374
IRS990/TotalCompGT150K00
IRS990/TotalContributions0633366
IRS990/TotalExpensesCurrentYear01735368
IRS990/TotalFunctionalExpenses/Fundraising019848
IRS990/TotalFunctionalExpenses/ManagementAndGeneral0316881
IRS990/TotalFunctionalExpenses/ProgramServices01398639
IRS990/TotalFunctionalExpenses/Total01735368
IRS990/TotalFundrsngExpCurrentYear019848
IRS990/TotalGrossUBI00
IRS990/TotalLiabilities/BOY043074
IRS990/TotalLiabilitiesBOY043074
IRS990/TotalLiabilities/EOY0206253
IRS990/TotalLiabilitiesEOY0206253
IRS990/TotalLiabNetAssetsFundBalances/BOY0317558
IRS990/TotalLiabNetAssetsFundBalances/EOY0714374
IRS990/TotalNbrEmployees016
IRS990/TotalNbrVolunteers00
IRS990/TotalNetAssetsFundBalances/BOY0274484
IRS990/TotalNetAssetsFundBalances/EOY0508121
IRS990/TotalOtherCompensation02995
IRS990/TotalProfFundrsngExpCY00

Document Assets

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Filings

Displayed year

2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$714,374
Liabilities
$206,253
Net assets
$508,121
Revenue
-
Expenses
$1,735,368
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.31$0.45$1.85$6.20$6.51$0.31
2024Detailed filing. Detailed filing data is available for this year.$2.56$0.40$2.16$5.72$6.19$0.46
2023Detailed filing. Detailed filing data is available for this year.$3.03$0.40$2.63$4.87$5.47$0.60
2022Detailed filing. Detailed filing data is available for this year.$3.51$0.28$3.22$5.01$4.84$0.16
2021Detailed filing. Detailed filing data is available for this year.$3.46$0.40$3.06$5.98$4.54$1.44
2020Detailed filing. Detailed filing data is available for this year.$2.73$1.11$1.62$5.55$5.08$0.46
2019Detailed filing. Detailed filing data is available for this year.$1.70$0.54$1.16$5.97$5.37$0.60
2018Detailed filing. Detailed filing data is available for this year.$0.94$0.38$0.56$5.79$5.64$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.86$0.44$0.42$5.57$5.39$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.77$0.53$0.24$5.28$6.05$0.77
2015Detailed filing. Detailed filing data is available for this year.$1.38$0.38$1.01$5.32$4.94$0.39
2014Detailed filing. Detailed filing data is available for this year.$0.97$0.35$0.62$4.63$5.01$0.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.36$0.99$4.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.22$1.38$3.68
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.15$1.06$2.65
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.21$0.51$1.74