Civic Intelligence

Summit Foundation

990 • Fiscal year 2022 • EIN 30-0595477

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

Organization ProfileN/A
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

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

59th percentile

$79,529

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 79.5% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

74th percentile

17%

Faster asset growth than 74% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

40th percentile

0.0%

Faster revenue growth than 40% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$3,995,741

Up $576,132 (+17%) from 2021

Net Assets

Up

$3,995,741

Up $576,132 (+17%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin19th percentile

Revenue

Flat

$100,005

Flat from 2021

Expenses

Down

$112,362

Down $127,420,337 (-100%) from 2021

Net Income

Up

-$12,357

Up $127,420,337 (+100%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

2022

Assets$3,995,741
Liabilities$0
Net Assets$3,995,741
Open 2022 Filing

Operations Trend

Revenue Growth40th percentile

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

2022

Revenue$100,005
Expenses$112,362
Net Income-$12,357
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$100,005
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$3,401,907$3,990,396▲ $588,489
Savings and Temporary Cash Investments$16,886$4,781▼ $12,105
Cash and Non-Interest-Bearing Accounts$816$564▼ $252
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$3,419,609$3,995,741▲ $576,132
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,419,609$3,995,741▲ $576,132
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$3,419,609$3,995,741▲ $576,132
Total Liabilities and Net Assets / Fund Balance$3,419,609$3,995,741▲ $576,132

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$3,990,396--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleOtherTotal
Rene PalacioPresident$79,529$79,529

Board Members and Trustees

NameTitle
Ronald WilliamsBoard Member
Fred ElySecretary & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$100,005
Other Revenue
$0
Change in Net Assets
$-12,357
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$106,250
Other Expenses$6,112
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$106,250--$106,250
Fees for Services Legal$1,557$1,557$0$3,114
Fees for Services Accounting$1,402$1,402$0$2,804
Office Expenses$97$97$0$194
Total Functional Expenses$109,306$3,056$0$112,362
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Global ActionWheaton, IL501(c)(3)Ministry Support$56,250
Sports CatalystSpring, TX501(c)(3)Ministry Support$50,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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 8B:

“The organization has no committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.”

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 organization's top management and the board prior to filing with the irs.”

FORM 990, PART VI, SECTION B, LINE 12C:

“The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The president is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

FORM 990, PART VI, SECTION B, LINE 15:

“Questions 15a and 15b - the organization does not compensate any offcers or key employees. Therefore, these lines were answered no in accordance with the instructions.”

FORM 990, PART VI, SECTION C, LINE 19:

“The governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Foundation
EIN
30-0595477
In Care Of
% FRED ELY
Phone
7045871403
Address
14830 Choate Circle, Charlotte, NC 28241-7900

Signing Officer

Name
Fred Ely
Title
Secretary, Treasurer
Phone
7049967520
Signed
2023-05-15
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
2

Preparer

Firm
Bdo USA Llp
Address
200 OTTAWA AVE NW STE 300, GRAND RAPIDS, MI 49503
Preparer
Hannah Earl
Phone
6167747000
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION 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 beneficiary organizations.”

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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FACT THAT THE FOUNDATION IS OPERATED, SUPERVISED AND CONTROLLED IN CONNECTION WITH ONE OR MORE PUBLICLY SUPPORTED CHARITABLE ORGANIZATIONS, SPECIFICALLY SIM USA, IS CLEARLY ESTABLISHED THROUGH THE FOLLOWING FACTS: 1) SIM USA HAS THE RIGHT TO NAME ONE OR MORE MEMBERS OF THE BOARD OF DIRECTORS. 2) THE ASSETS OF THE FOUNDATION HAVE TO ULTIMATELY BE USED FOR OR DISTRIBUTED IN ACCORDANCE WITH THE APPROVAL AND DIRECTION OF SIM USA.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Ministry Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Ministry Support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Global Action
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Sports Catalyst
IRS990ScheduleI/RecipientTable/RecipientEIN0841471157
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IRS990ScheduleI/RecipientTable/USAddress/CityNm0Wheaton
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Spring
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1TX
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd177393
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION REQUIRES RECIPIENTS TO PROVIDE REPORTS DETAILING THE USE OF FUNDS AND PROGRAM OUTCOMES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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 BENEFICIARY ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, THIS LINE WAS ANSWERED NO IN ACCORDANCE WITH THE INSTRUCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. THE 990 IS REVIEWED IN DETAIL BY THE ORGANIZATION'S TOP MANAGEMENT AND THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION REQUIRES ALL OFFICERS AND BOARD MEMBERS TO ANNUALLY COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE. THE PRESIDENT IS RESPONSIBLE FOR REVIEWING THE SIGNED STATEMENTS AND ENSURING THAT INTERESTED PERSONS ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. SHOULD ANY POTENTIAL CONFLICTS OF INTEREST BE DISCLOSED, THE BOARD MEMBER OR OFFICER WOULD BE ASKED TO REFRAIN FROM PARTICIPATION IN ANY DELIBERATION OR DECISION WITH REGARD TO MATTERS AFFECTED BY THE RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4QUESTIONS 15A AND 15B - THE ORGANIZATION DOES NOT COMPENSATE ANY OFFCERS OR KEY EMPLOYEES. THEREFORE, THESE LINES WERE ANSWERED NO IN ACCORDANCE WITH THE INSTRUCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19:
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0221936391
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MISSIONS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt014830 CHOATE CIRCLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHARLOTTE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028273
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03419609
IRS990/TotalAssetsEOYAmt03995741
IRS990/TotalAssetsGrp/BOYAmt03419609
IRS990/TotalAssetsGrp/EOYAmt03995741
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0109306
IRS990/TotalFunctionalExpensesGrp/TotalAmt0112362
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03995741
IRS990/TotReportableCompRltdOrgAmt079529

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,995,741
Liabilities
$0
Net assets
$3,995,741
Revenue
$100,005
Expenses
$112,362
Net income
-$12,357
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.4$0.00$77.4$104$0.04$104
2022Detailed filing. Detailed filing data is available for this year.$4.00$0.00$4.00$0.10$0.11$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.42$0.00$3.42$0.10$128$127
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.9$0.00$50.9$0.00$0.35$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$51.2$0.00$51.2$3.50$4.23$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$51.9$0.00$51.9$4.20$3.23$0.97
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.0$0.01$50.9$5.80$7.55$1.75