Civic Intelligence

Summit Foundation

990 • Fiscal year 2017 • EIN 30-0595477

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 01, 2018

14830 Choate CircleCharlotte, NC 28241-7900

(704) 587-1403

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

3rd percentile

0.00x

Higher debt load relative to revenue than 3% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

7th percentile

-30%

Higher net margin than 7% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

5th percentile

$69,512

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Assets

$50,957,207

No earlier filing loaded for comparison.

Net Assets

$50,944,587

No earlier filing loaded for comparison.

Liabilities

$12,620

No earlier filing loaded for comparison.

Revenue

$5,800,368

No earlier filing loaded for comparison.

Expenses

$7,550,875

No earlier filing loaded for comparison.

Net Income

-$1,750,507

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2017: $50,957,207Liabilities 2017: $12,620Net Assets 2017: $50,944,5872017Assets 2018: $51,910,523Liabilities 2018: $211Net Assets 2018: $51,910,3122018Assets 2019: $51,203,610Liabilities 2019: $211Net Assets 2019: $51,203,3992019Assets 2020: $50,851,473Liabilities 2020: $0Net Assets 2020: $50,851,4732020Assets 2021: $3,419,609Liabilities 2021: $0Net Assets 2021: $3,419,6092021Assets 2022: $3,995,741Liabilities 2022: $0Net Assets 2022: $3,995,7412022Assets 2024: $77,373,055Liabilities 2024: $0Net Assets 2024: $77,373,0552024

Highlighted filing

2017

Assets$50,957,207
Liabilities$12,620
Net Assets$50,944,587

Operations Trend

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

$200M$100M$0-$100M-$200MRevenue 2017: $5,800,368Expenses 2017: $7,550,875Net Income 2017: -$1,750,5072017Revenue 2018: $4,200,192Expenses 2018: $3,234,467Net Income 2018: $965,7252018Revenue 2019: $3,500,235Expenses 2019: $4,232,148Net Income 2019: -$731,9132019Revenue 2020: $15Expenses 2020: $351,941Net Income 2020: -$351,9262020Revenue 2021: $100,005Expenses 2021: $127,532,699Net Income 2021: -$127,432,6942021Revenue 2022: $100,005Expenses 2022: $112,362Net Income 2022: -$12,3572022Revenue 2024: $104,295,775Expenses 2024: $43,309Net Income 2024: $104,252,4662024

Highlighted filing

2017

Revenue$5,800,368
Expenses$7,550,875
Net Income-$1,750,507
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 1, 2018
Return Version
2017v2.3
Gross Receipts
$5,800,368
Mission and Program Overview

Mission

The Foundation seeks to further the Kingdom of God by supporting beneficiary organizations as an integral part of the Evangelical purposes of the beneficiary organizations and the worldwide Evangelical Christian missions and activities being carried on by the beneficiary organizations.

To further the Kingdom of God by supporting beneficiary organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$50,832,600$50,832,600→ $0
Savings and Temporary Cash Investments$1,869,595$124,214▼ $1,745,381
Cash and Non-Interest-Bearing Accounts$600$393▼ $207
Total Assets$52,702,795$50,957,207▼ $1,745,588
Liabilities
Accounts Payable and Accrued Expenses$7,701$12,620▲ $4,919
Total Liabilities$7,701$12,620▲ $4,919
Net Assets / Fund Balance
Unrestricted Net Assets$52,695,094$50,944,587▼ $1,750,507
Total Net Assets Fund Balance$52,695,094$50,944,587▼ $1,750,507
Total Liabilities and Net Assets / Fund Balance$52,702,795$50,957,207▼ $1,745,588

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$50,832,600--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Fred ElySecretary & Treasurer$69,512$69,512

Board Members and Trustees

NameTitle
Rene PalacioPresident
Ronald WilliamsBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Curtis Mallet-Prevost Colt & Mosle LLPLegal Fees101 Park Avenue, New York, NY 10178$102,617
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$5,800,368
Other Revenue
$0
Change in Net Assets
$-1,750,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,377,267
Other Expenses$173,608
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$7,377,267--$7,377,267
Fees for Services Legal-$114,279-$114,279
Fees for Services Management-$40,000-$40,000
Fees for Services Accounting-$19,300-$19,300
Office Expenses-$29-$29
Total Functional Expenses$7,377,267$173,608$0$7,550,875
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sim USACharlotte, NC501(c)(3)Ministry support$1,943,665
InterVarsity Christian FellowshipUSAMadison, WI501(c)(3)Ministry support$1,250,000
ABWE Foundation IncHarrisburg, PA501(c)(3)Ministry support$1,000,000
PioneersOrlando, FL501(c)(3)Ministry support$760,000
Operation MobilizationTyrone, GA501(c)(3)Ministry support$460,000
Campus Crusade for ChristOrlando, FL501(c)(3)Ministry support$300,000
Youth for Christ USAEnglewood, CO501(c)(3)Ministry support$250,000
One Mission SocietyGreenwood, IN501(c)(3)Ministry support$200,000
TEAM Evangelical Alliance MissionCarol Stream, IL501(c)(3)Ministry support$150,000
visionSynergyEdmonds, WA501(c)(3)Ministry support$150,000
Avant MinistriesKansas City, MO501(c)(3)Ministry support$103,500
East-West Ministries InternationalPlano, TX501(c)(3)Ministry support$100,000
Partners InternationalSpokane, WA501(c)(3)Ministry support$100,000
Scriptures in UseGreen Valley, AZ501(c)(3)Ministry support$100,000
The NavigatorsColorado Springs, CO501(c)(3)Ministry support$80,000
International TeamsElgin, IL501(c)(3)Ministry support$55,000
MissioNexusStone Mountain, GA501(c)(3)Ministry support$50,000
The Wycliffe Seed CompanyArlington, TX501(c)(3)Ministry support$50,000
Healing Hands of JoyNew York, NY501(c)(3)Ministry support$46,703
World VentureEnglewood, CO501(c)(3)Ministry support$45,000
Davar Partners InternationalAustin, TX501(c)(3)Ministry support$40,000
A Family for Every OrphanSeattle, WA501(c)(3)Ministry support$37,500
Great Commission FoundationHull, GA501(c)(3)Ministry support$30,000
World HorizonsRichmond, VA501(c)(3)Ministry support$30,000
World PartnersVirginia Beach, VA501(c)(3)Ministry support$25,000
Act BeyondPlano, TX501(c)(3)Ministry support$20,899
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
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 4

The articles of incorporation were amended to clarify that the purpose of the organization is to receive and administer funds specifically for SIM USA and its related organizations and to clarify that all assets following payment of liabilities and obligations would transfer to SIM USA upon dissolution.

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

The Form 990 is prepared by an independent CPA firm. The 990 is reviewed in detail by the board.

Form 990, Part VI, Section B, line 15

Questions 15a & 15b - The Foundation pays modest compensation to three directors for their service as Treasurer, Secretary, and board member. Due to the modest level of their compensation, the board has not deemed it necessary to seek comparable compensation figures from other similarly situated organizations.

Form 990, Part VI, Section C, line 19

The governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Summit Foundation
EIN
30-0595477
Phone
7045871403
Address
14830 Choate Circle, Charlotte, NC 28241-7900

Signing Officer

Name
Fred Ely
Title
Secretary & Treasurer
Phone
7045871403
Signed
2018-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rene Palacio
Formed
2009
Legal Domicile
Mi
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
3

Preparer

Firm
Capin Crouse LLP
Address
1255 Lakes Parkway STE 130, Lawrenceville, GA 30043
Preparer
Ted R Batson Jr
Phone
8173286510
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

The Foundation's Board assumes responsibility for oversight of the compilation of its financial statements and selection of its independent accountant. This process has not changed from the prior year.

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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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IRS990ScheduleI/RecipientTable/IRCSectionDesc23501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc24501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc25501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt11Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt12Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt13Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt14Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt15Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt16Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt17Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt18Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt19Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt20Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt21Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt22Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt23Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt24Ministry support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt25Ministry support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SIM USA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1World Venture
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2InterVarsity Christian FellowshipUSA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Partners International
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4TEAM Evangelical Alliance Mission
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5One Mission Society
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6East-West Ministries International
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7Avant Ministries
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8The Navigators
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9Great Commission Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10Operation Mobilization
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt11World Horizons
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt12The Wycliffe Seed Company
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt13Scriptures in Use
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt14visionSynergy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt15Pioneers
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt16International Teams
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt17Act Beyond
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt18Davar Partners International
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt19Healing Hands of Joy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt20Youth for Christ USA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt21ABWE Foundation Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt22A Family for Every Orphan
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt23MissioNexus
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt24World Partners
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt25Campus Crusade for Christ
IRS990ScheduleI/RecipientTable/RecipientEIN0221936391
IRS990ScheduleI/RecipientTable/RecipientEIN1362216163
IRS990ScheduleI/RecipientTable/RecipientEIN2362171714
IRS990ScheduleI/RecipientTable/RecipientEIN3941393427
IRS990ScheduleI/RecipientTable/RecipientEIN4362169146
IRS990ScheduleI/RecipientTable/RecipientEIN5951891575
IRS990ScheduleI/RecipientTable/RecipientEIN6752486132
IRS990ScheduleI/RecipientTable/RecipientEIN7440594428
IRS990ScheduleI/RecipientTable/RecipientEIN8846007896
IRS990ScheduleI/RecipientTable/RecipientEIN9351057090
IRS990ScheduleI/RecipientTable/RecipientEIN10222513811
IRS990ScheduleI/RecipientTable/RecipientEIN11521399545
IRS990ScheduleI/RecipientTable/RecipientEIN12330838929
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IRS990ScheduleI/RecipientTable/RecipientEIN14200351801
IRS990ScheduleI/RecipientTable/RecipientEIN15521206938
IRS990ScheduleI/RecipientTable/RecipientEIN16366069820
IRS990ScheduleI/RecipientTable/RecipientEIN17271928559
IRS990ScheduleI/RecipientTable/RecipientEIN18270642468
IRS990ScheduleI/RecipientTable/RecipientEIN19270241638
IRS990ScheduleI/RecipientTable/RecipientEIN20362193619
IRS990ScheduleI/RecipientTable/RecipientEIN21232913381
IRS990ScheduleI/RecipientTable/RecipientEIN22264015124
IRS990ScheduleI/RecipientTable/RecipientEIN23530210793
IRS990ScheduleI/RecipientTable/RecipientEIN24050525635
IRS990ScheduleI/RecipientTable/RecipientEIN25956006173
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt014830 Choate Circle
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt120 Inverness Pl E
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO Box 7895
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31117 E Westview Court
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4400 S Main Pl
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5941 Fry Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt62001 W Plano Parkway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt710000 N Oak Trafficway
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt83820 N 30th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt93230 Seagraves Mill Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt10285 Lynnwood Avenue
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt118 East Broad Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12220 Westway Place Suite 100
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13LA CANADA SUITE 49 D
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt14PO Box 232
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1510123 William Carey Dr
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt16411 West River Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt17PO Box 860548
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt186300 Bridgepoint Pkwy Suite 405
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt19PO Box 200
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt20PO Box 4478
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21PO Box 8585
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt22PO Box 34628
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23655 Village Square Drive
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt244876-118 Princess Anne Rd
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt25100 Lake Hart Drive
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Englewood
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Madison
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Spokane
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Carol Stream
IRS990ScheduleI/RecipientTable/USAddress/CityNm5Greenwood
IRS990ScheduleI/RecipientTable/USAddress/CityNm6Plano
IRS990ScheduleI/RecipientTable/USAddress/CityNm7Kansas City
IRS990ScheduleI/RecipientTable/USAddress/CityNm8Colorado Springs
IRS990ScheduleI/RecipientTable/USAddress/CityNm9Hull
IRS990ScheduleI/RecipientTable/USAddress/CityNm10Tyrone
IRS990ScheduleI/RecipientTable/USAddress/CityNm11Richmond
IRS990ScheduleI/RecipientTable/USAddress/CityNm12Arlington
IRS990ScheduleI/RecipientTable/USAddress/CityNm13GREEN VALLEY
IRS990ScheduleI/RecipientTable/USAddress/CityNm14Edmonds
IRS990ScheduleI/RecipientTable/USAddress/CityNm15Orlando
IRS990ScheduleI/RecipientTable/USAddress/CityNm16Elgin
IRS990ScheduleI/RecipientTable/USAddress/CityNm17Plano
IRS990ScheduleI/RecipientTable/USAddress/CityNm18Austin
IRS990ScheduleI/RecipientTable/USAddress/CityNm19New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm20Englewood
IRS990ScheduleI/RecipientTable/USAddress/CityNm21Harrisburg
IRS990ScheduleI/RecipientTable/USAddress/CityNm22Seattle
IRS990ScheduleI/RecipientTable/USAddress/CityNm23Stone Mountain
IRS990ScheduleI/RecipientTable/USAddress/CityNm24Virginia Beach

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