Liabilities / Assets
49th percentile
Higher debt load relative to assets than 49% of similar nonprofits.
Summit Academy Charter School
990 • Fiscal year 2011 • EIN 26-4243160
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.13x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
90th percentile
Faster asset growth than 90% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$1,217,750
Up $503,376 (+70%) from 2010
Net Assets
Up$1,064,308
Up $556,187 (+109%) from 2010
Liabilities
Down$153,442
Down $52,811 (-26%) from 2010
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Up$2,652,082
Up $916,714 (+53%) from 2010
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2010 to Jun 30, 2011
- Signed
- May 11, 2012
- Return Version
- 2010v3.4
- Gross Receipts
- $3,208,269
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
Raw XML AppendixShowing 400 of 519 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.
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| IRS990/ActivityOrMissionDescription | 0 | OUR MISSIONSUMMIT ACADEMY CHARTER SCHOOL BRIDGES THE GAP BETWEEN ASPIRATIONS AND REALITIES BY PREPARING 6TH THROUGH 12TH 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 WITH AN ACADEMICALLY RIGOROUS, COLLEGE-PREPARATORY CURRICULUM AND SUPPORTING THEM IN A COMMUNITY FOCUSED ON HIGH ACADEMIC ACHIEVEMENT AND STRONG CHARACTER BUILDING, SUMMIT ACADEMY WILL PREPARE OUR YOUNG PEOPLE TO PARTICIPATE MEANINGFULLY IN THE GREATER ECONOMY AND EXPAND THEIR CHOICES AND OPPORTUNITIES. |
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| IRS990/ContractorCompensation/DescriptionOfServices | 1 | HEALTH PLAN ADMINISTRATORS |
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| IRS990/Description | 0 | THE PURPOSE OF THE SCHOOL IS TO PREPARE STUDENTS IN GRADES SIX THROUGH TWELVE FOR EDUCATIONAL SUCCESS FROM MIDDLE SCHOOL THROUGH COLLEGE THIS WILL BE ACCOMPLISHED THROUGH A DEMANDING DATA DRIVEN EDUCATION BASED ON HIGH STANDARDS, STRUCTURE, AND ACCOUNTABILITY. THE SCHOOL CURRENTLY SERVES APPROXIMATELY 170 STUDENTS IN GRADES SIX AND SEVEN WITH A GROWTH PLAN THAT INCLUDES ADDING A GRADE EACH YEAR UNTIL CAPCITY IS MET AT TWELFTH GRADE AND APPROXIMATELY 700 STUDENTS. |
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| IRS990/MissionDescription | 0 | OUR MISSIONSUMMIT ACADEMY CHARTER SCHOOL BRIDGES THE GAP BETWEEN ASPIRATIONS AND REALITIES BY PREPARING 6TH THROUGH 12TH 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 WITH AN ACADEMICALLY RIGOROUS, COLLEGE-PREPARATORY CURRICULUM AND SUPPORTING THEM IN A COMMUNITY FOCUSED ON HIGH ACADEMIC ACHIEVEMENT AND STRONG CHARACTER BUILDING, SUMMIT ACADEMY WILL PREPARE OUR YOUNG PEOPLE TO PARTICIPATE MEANINGFULLY IN THE GREATER ECONOMY AND EXPAND THEIR CHOICES AND OPPORTUNITIES. |
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| IRS990ScheduleD/OtherAssets/Description | 0 | SECURITY DEPOSITS |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 8667 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | DEFERRED LEASE LIABILITY |
| IRS990ScheduleD/RevenueNotRptdF990 | 0 | 0 |
| IRS990ScheduleD/RevenueNotRptdOnFinStmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotal | 0 | 3208269 |
| IRS990ScheduleD/TotalAdjustments | 0 | 0 |
| IRS990ScheduleD/TotalBookValueOtherAssets | 0 | 219091 |
| IRS990ScheduleD/TotalExpenses | 0 | 2652082 |
| IRS990ScheduleD/TotalExpensesPerForm990 | 0 | 2652082 |
| IRS990ScheduleD/TotalOfAmounts | 0 | 8667 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 457960 |
| IRS990ScheduleD/TotalRevenue | 0 | 3208269 |
| IRS990ScheduleD/TotalRevenuePerForm990 | 0 | 3208269 |
| IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt | 0 | 2652082 |
| IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt | 0 | 3208269 |
| IRS990ScheduleE/ComplianceWithRevProc7550 | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPolicies | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthleticProg | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPolicies | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmnFaculty | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActy | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceScholarships | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStudentsRights | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFclts | 0 | 0 |
| IRS990ScheduleE/Form990ScheduleEPartII/Explanation | 0 | THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY DURING THE REGISTRATION PERIOD BY LISTING THE POLICY IN OUR NEWSPAPER ADVERTISEMENT, ENROLLMENT APPLICATIONS AND ON OUR PUBLIC WEBSITE. |
| IRS990ScheduleE/Form990ScheduleEPartII/Explanation | 1 | THE ORGANIZATION RECEIVES START-UP GRANTS FOR FACILITIES AND IMPLEMENTATION AND CORE PUPIL AID. |
| IRS990ScheduleE/Form990ScheduleEPartII/Identifier | 0 | EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION |
| IRS990ScheduleE/Form990ScheduleEPartII/Identifier | 1 | EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE |
| IRS990ScheduleE/Form990ScheduleEPartII/ReturnReference | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/Form990ScheduleEPartII/ReturnReference | 1 | SCHEDULE E, PART I, LINE 6 |
| IRS990ScheduleE/GovernmentFinancialAidReceived | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRevoked | 0 | 0 |
| IRS990ScheduleE/MaintCopiesOfAllSolicitations | 0 | 1 |
| IRS990ScheduleE/MaintCopiesOfBrochuresEtc | 0 | 1 |
| IRS990ScheduleE/MaintRacialCompositionRecords | 0 | 1 |
| IRS990ScheduleE/MaintScholarshipsRecords | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmt | 0 | 1 |
| IRS990ScheduleE/PolicyPublViaBroadcastMedia | 0 | 1 |
| IRS990ScheduleE/PolicyStatementInBrochuresEtc | 0 | 1 |
| IRS990/ScheduleJRequired | 0 | 0 |
| IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction | 0 | 22520 |
| IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction | 0 | FRIENDS OF SUMMIT, INC. EXECUTED A ZERO PERCENT INTEREST PROMISSORY NOTE TO ASSIST THE ORGANIZATION IN OBTAINING ITS CHARTER. |
| IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NameBusiness/BusinessNameLine1 | 0 | FRIENDS OF SUMMIT INC |
| IRS990ScheduleL/Form990ScheduleLPartIV/Relationship | 0 | AN OFFICER OF THE ORGANIZATION IS ALSO AN OFFICER OF FRIENDS OF SUMMIT, INC |
| IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues | 0 | 0 |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | VISION SUMMIT ACADEMY DEVELOPS ACADEMIC EXCELLENCE, INSTILLS CHARACTER, AND CULTIVATES LEADERSHIP. OUR ACADEMIC PROGRAM AND COLLEGE PREPARATORY CURRICULUM ARE STRUCTURED TO ACCOMPLISH TWO GOALS: (1) STUDENT ACQUISITION AND MASTERY OF BASIC LITERACY, NUMERACY, AND WRITING SKILLS AND (2) STUDENT APPLICATION OF BASIC SKILLS TO SYNTHESIZE, ANALYZE, APPLY, AND MAKE INFERENCES ABOUT CONTENT THAT IS MORE CHALLENGING AND COMPLEX. STUDENTS WILL BE ABLE TO ANSWER THE WHAT, WHY AND HOW IN ALL SUBJECT AREAS. STAFF, STUDENTS, FAMILIES AND THE COMMUNITY ARE INVOLVED IN THE EDUCATIONAL PROCESS TO CREATE A SAFE, SUPPORTIVE ENVIRONMENT WHERE STUDENTS ARE MOTIVATED TO LEARN AND BELIEVE THAT SUCCESS IS ATTAINABLE. EVERYONE HONORS AND RESPECTS THE DIFFERENCE AND UNIQUENESS OF EACH INDIVIDUAL WHILE DEVELOPING A SENSE OF RESPONSIBILITY TOWARD THEMSELVES, THEIR SCHOOL COMMUNITY, AND THE COMMUNITY AT LARGE. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | VISION SUMMIT ACADEMY DEVELOPS ACADEMIC EXCELLENCE, INSTILLS CHARACTER, AND CULTIVATES LEADERSHIP. OUR ACADEMIC PROGRAM AND COLLEGE PREPARATORY CURRICULUM ARE STRUCTURED TO ACCOMPLISH TWO GOALS: (1) STUDENT ACQUISITION AND MASTERY OF BASIC LITERACY, NUMERACY, AND WRITING SKILLS AND (2) STUDENT APPLICATION OF BASIC SKILLS TO SYNTHESIZE, ANALYZE, APPLY, AND MAKE INFERENCES ABOUT CONTENT THAT IS MORE CHALLENGING AND COMPLEX. STUDENTS WILL BE ABLE TO ANSWER THE WHAT, WHY AND HOW IN ALL SUBJECT AREAS. STAFF, STUDENTS, FAMILIES AND THE COMMUNITY ARE INVOLVED IN THE EDUCATIONAL PROCESS TO CREATE A SAFE, SUPPORTIVE ENVIRONMENT WHERE STUDENTS ARE MOTIVATED TO LEARN AND BELIEVE THAT SUCCESS IS ATTAINABLE. EVERYONE HONORS AND RESPECTS THE DIFFERENCE AND UNIQUENESS OF EACH INDIVIDUAL WHILE DEVELOPING A SENSE OF RESPONSIBILITY TOWARD THEMSELVES, THEIR SCHOOL COMMUNITY, AND THE COMMUNITY AT LARGE. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | THE 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/Explanation | 3 | EACH 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/Explanation | 4 | THE 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/Explanation | 5 | THESE DOCUMENTS ARE AVAILABLE UPON REQUEST |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | THE BOARD OF TRUSTEES ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | CONTINUATION OF MISSION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | CONTINUATION OF MISSION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART I, LINE 1 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART III, LINE 1 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART XII, LINE 2C |
| IRS990/ScheduleORequired | 0 | 1 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $1,217,750
- Liabilities
- $153,442
- Net assets
- $1,064,308
- Revenue
- -
- Expenses
- $2,652,082
- Net income
- -