Civic Intelligence

Summit Schools Inc.

990 • Fiscal year 2014 • EIN 41-1472874

Jun 01, 2013 to May 31, 2014 • Filed on Oct 15, 2014

1010 Regent Street NECedar Rapids, IA 52402

(319) 294-2036

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$821,749

Down $193,468 (-19%) from 2013

Net Assets

Down

$406,546

Down $74,373 (-15%) from 2013

Liabilities

Down

$415,203

Down $119,095 (-22%) from 2013

Revenue And Expenses

Revenue

Down

$887,244

Down $154,216 (-15%) from 2013

Expenses

Up

$928,894

Up $23,926 (+2.6%) from 2013

Net Income

Down

-$41,650

Down $178,142 (-131%) from 2013

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $817,980Liabilities 2011: $534,007Net Assets 2011: $283,9732011Assets 2012: $892,618Liabilities 2012: $519,468Net Assets 2012: $373,1502012Assets 2013: $1,015,217Liabilities 2013: $534,298Net Assets 2013: $480,9192013Assets 2014: $821,749Liabilities 2014: $415,203Net Assets 2014: $406,5462014Assets 2015: $726,487Liabilities 2015: $416,349Net Assets 2015: $310,1382015Assets 2016: $776,399Liabilities 2016: $525,326Net Assets 2016: $251,0732016Assets 2017: $845,889Liabilities 2017: $531,436Net Assets 2017: $314,4532017Assets 2018: $927,999Liabilities 2018: $564,106Net Assets 2018: $363,8932018Assets 2019: $968,009Liabilities 2019: $550,271Net Assets 2019: $417,7382019Assets 2020: $1,042,270Liabilities 2020: $598,937Net Assets 2020: $443,3332020Assets 2021: $1,232,201Liabilities 2021: $775,813Net Assets 2021: $456,3882021Assets 2022: $1,306,096Liabilities 2022: $451,621Net Assets 2022: $854,4752022Assets 2023: $1,418,436Liabilities 2023: $448,944Net Assets 2023: $969,4922023Assets 2024: $1,588,473Liabilities 2024: $461,462Net Assets 2024: $1,127,0112024Assets 2025: $1,776,652Liabilities 2025: $416,763Net Assets 2025: $1,359,8892025

Highlighted filing

2014

Assets$821,749
Liabilities$415,203
Net Assets$406,546

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $801,2432011Expenses 2012: $855,5652012Revenue 2013: $1,041,460Expenses 2013: $904,968Net Income 2013: $136,4922013Revenue 2014: $887,244Expenses 2014: $928,894Net Income 2014: -$41,6502014Revenue 2015: $824,925Expenses 2015: $886,911Net Income 2015: -$61,9862015Revenue 2016: $808,459Expenses 2016: $858,780Net Income 2016: -$50,3212016Revenue 2017: $1,020,789Expenses 2017: $953,022Net Income 2017: $67,7672017Revenue 2018: $1,072,424Expenses 2018: $1,022,635Net Income 2018: $49,7892018Revenue 2019: $1,108,561Expenses 2019: $1,051,356Net Income 2019: $57,2052019Revenue 2020: $1,081,194Expenses 2020: $1,055,599Net Income 2020: $25,5952020Revenue 2021: $1,032,702Expenses 2021: $1,030,168Net Income 2021: $2,5342021Revenue 2022: $1,505,080Expenses 2022: $1,108,144Net Income 2022: $396,9362022Revenue 2023: $1,298,673Expenses 2023: $1,183,656Net Income 2023: $115,0172023Revenue 2024: $1,492,554Expenses 2024: $1,335,035Net Income 2024: $157,5192024Revenue 2025: $1,804,066Expenses 2025: $1,571,188Net Income 2025: $232,8782025

Highlighted filing

2014

Revenue$887,244
Expenses$928,894
Net Income-$41,650
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Oct 15, 2014
Return Version
2013v3.1
Gross Receipts
$903,337
Mission and Program Overview

Mission

To assist children in reaching their fullest potential through quality academic education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$615,643$605,097▼ $10,546
Savings and Temporary Cash Investments$340,943$170,150▼ $170,793
Cash and Non-Interest-Bearing Accounts$32,521$30,411▼ $2,110
Accounts Receivable$20,318$12,725▼ $7,593
Other Notes and Loans Receivable, Net$5,792$3,366▼ $2,426
Total Assets$1,015,217$821,749▼ $193,468
Liabilities
Mortgage Notes Payable Secured by Investment Property$310,911$240,742▼ $70,169
Deferred Revenue$183,853$128,061▼ $55,792
Accounts Payable and Accrued Expenses$39,534$46,400▲ $6,866
Total Liabilities$534,298$415,203▼ $119,095
Net Assets / Fund Balance
Unrestricted Net Assets$352,038$311,844▼ $40,194
Permanently Rstr Net Assets$75,553$84,004▲ $8,451
Temporarily Rstr Net Assets$53,328$10,698▼ $42,630
Total Net Assets Fund Balance$480,919$406,546▼ $74,373
Total Liabilities and Net Assets / Fund Balance$1,015,217$821,749▼ $193,468

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$488,671$242,822$731,493
Equipment$30,826$60,724$91,550
Land$85,600-$85,600
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bruce ThayerBoard Member
Diane HandlerBoard Member
Ebony LuensmanBoard Member
Jen MitchellBoard Member
Jim WittnebelBoard Member
John HuiskampBoard Member
Lisa Wiebenga-stroschineBoard Member
Shannon ThompsonBoard Member
Susan WolvertonBoard Member
Susie Lagos-lavenzBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$46,280
Program Service Revenue
$778,535
Investment Income
$1,039
Other Revenue
$61,390
All Other Contributions
$45,985
Change in Net Assets
$-41,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$696,748
Other Expenses$232,146
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$561,799$63,793-$625,592
All Other Expenses$60,486--$60,486
Payroll Taxes$41,439$4,706-$46,145
Other Employee Benefits$22,461$2,550-$25,011
Other Expenses$18,950--$18,950
Occupancy$17,385--$17,385
Insurance$14,830--$14,830
Interest$12,366--$12,366
Office Expenses$4,451$6,958-$11,409
Fees for Services Accounting$8,700--$8,700
Advertising$6,436--$6,436
Conferences and Meetings$1,721--$1,721
Travel-$53-$53
Total Functional Expenses$850,834$78,060$0$928,894
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$57,618
Fundraising Direct Expenses$11,962
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$45,746$45,746$5,876$39,870
Event 2$11,872$11,872$6,086$5,786
Total Events$57,618$57,618$11,962$45,656
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
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

Draft copy of form 990 is provided to all board members prior to filing and reviewed in detail by the organization's bookkeeper and head of schools prior to filing.

Form 990, Page 6, Part VI, Line 15A

The compensation for the head of schools is determined by the board of trustees on an annual basis using compensation information obtained from local and regional organizations of similar size and public school districts. Compensation is approved annually by the board of trustees with the organization's operating budget.

Form 990, Page 6, Part VI, Line 15B

The compensation for all employees is determined by the finance committee of the board of trustees on an annual basis using compensation information obtained from local and regional organizations of similar size and public school districts. Compensation is approved annually by the board of trustees with the organization's operating budget.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents are made available to the public through the searchable database on the iowa secretary of state's website. In addition, governing documents are available upon request at the organization's physical location in cedar rapids, iowa.

Filing and Contact Details

Filer

EIN
41-1472874
Phone
3192942036

Signing Officer

Name
Gretchen Price
Title
Head of Schools
Phone
3192942036
Signed
2014-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gretchen Price
Formed
1998
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
65

Preparer

Preparer
Kirt T Norris
Phone
3193668400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Book / tax depreciation difference -32,723

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt060724
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt091550
IRS990ScheduleD/LandGrp/BookValueAmt085600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt085600
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0605097
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SUMMIT SCHOOLS, INC. DOES NOT DISCRIMINATE AND HAS PUBLISHED THIS POLICY THROUGH PROMOTIONAL ADVERTISING. IN ADDITION, THE SCHOOL HAS MANY DIVERSE RACIAL AND ETHNIC GROUPS REPRESENTED IN THE STUDENT POPULATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RACIAL COMPOSITION OF THE STAFF AND STUDENT BODY IS NOT MAINTAINED AT THIS TIME AS IT HAS NOT BEEN REQUESTED BY ANY THIRD-PARTIES. THE ORGANIZATION IS SMALL SO COMPILATION OF THIS INFORMATION WOULD NOT BE TIME-CONSUMING IF REQUESTED.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt011962
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt045746
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt011872
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt057618
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt045746
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt011872
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt057618
IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent1Amt0ADULT SOCIAL
IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent2Amt0FAMILY FUNDRAIS
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt045656
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt011962
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt05876
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt06086
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT COPY OF FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING AND REVIEWED IN DETAIL BY THE ORGANIZATION'S BOOKKEEPER AND HEAD OF SCHOOLS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPENSATION FOR THE HEAD OF SCHOOLS IS DETERMINED BY THE BOARD OF TRUSTEES ON AN ANNUAL BASIS USING COMPENSATION INFORMATION OBTAINED FROM LOCAL AND REGIONAL ORGANIZATIONS OF SIMILAR SIZE AND PUBLIC SCHOOL DISTRICTS. COMPENSATION IS APPROVED ANNUALLY BY THE BOARD OF TRUSTEES WITH THE ORGANIZATION'S OPERATING BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION FOR ALL EMPLOYEES IS DETERMINED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES ON AN ANNUAL BASIS USING COMPENSATION INFORMATION OBTAINED FROM LOCAL AND REGIONAL ORGANIZATIONS OF SIMILAR SIZE AND PUBLIC SCHOOL DISTRICTS. COMPENSATION IS APPROVED ANNUALLY BY THE BOARD OF TRUSTEES WITH THE ORGANIZATION'S OPERATING BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE SEARCHABLE DATABASE ON THE IOWA SECRETARY OF STATE'S WEBSITE. IN ADDITION, GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S PHYSICAL LOCATION IN CEDAR RAPIDS, IOWA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -32,723
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt053328
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt010698
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01015217
IRS990/TotalAssetsEOYAmt0821749
IRS990/TotalAssetsGrp/BOYAmt01015217
IRS990/TotalAssetsGrp/EOYAmt0821749
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt046280
IRS990/TotalEmployeeCnt065
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt078060
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0850834
IRS990/TotalFunctionalExpensesGrp/TotalAmt0928894
IRS990/TotalGrossUBIAmt08097
IRS990/TotalLiabilitiesBOYAmt0534298
IRS990/TotalLiabilitiesEOYAmt0415203
IRS990/TotalLiabilitiesGrp/BOYAmt0534298
IRS990/TotalLiabilitiesGrp/EOYAmt0415203
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0480919
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0406546
IRS990/TotalProgramServiceExpensesAmt0850834
IRS990/TotalProgramServiceRevenueAmt0778535
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0787211
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0887244
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt08097
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01015217
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0821749
IRS990/TravelGrp/ManagementAndGeneralAmt053
IRS990/TravelGrp/TotalAmt053
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0352038
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0311844
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101010 REGENT STREET NE
IRS990/USAddress/City0CEDAR RAPIDS
IRS990/USAddress/State0IA
IRS990/USAddress/ZIPCode052402
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.SUMMITSCHOOLS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GRETCHEN PRICE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOLS
ReturnHeader/BusinessOfficerGrp/PhoneNum03192942036
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine10SUMMIT SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0411472874
ReturnHeader/Filer/PhoneNum03192942036
ReturnHeader/Filer/USAddress/AddressLine101010 REGENT STREET NE
ReturnHeader/Filer/USAddress/City0CEDAR RAPIDS
ReturnHeader/Filer/USAddress/State0IA
ReturnHeader/Filer/USAddress/ZIPCode052402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421508032
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10BOHR DAHM GREIF & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101845 51ST ST NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CEDAR RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0524022458
ReturnHeader/PreparerPersonGrp/PhoneNum03193668400
ReturnHeader/PreparerPersonGrp/PreparationDt02014-10-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIRT T NORRIS
ReturnHeader/ReturnTs02014-10-15T12:56:41-05:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.78$0.42$1.36$1.80$1.57$0.23
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$0.46$1.13$1.49$1.34$0.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$0.45$0.97$1.30$1.18$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.45$0.85$1.51$1.11$0.40
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$0.78$0.46$1.03$1.03$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.60$0.44$1.08$1.06$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.97$0.55$0.42$1.11$1.05$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.56$0.36$1.07$1.02$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.53$0.31$1.02$0.95$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.78$0.53$0.25$0.81$0.86$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.73$0.42$0.31$0.82$0.89$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.82$0.42$0.41$0.89$0.93$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.53$0.48$1.04$0.90$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.52$0.37$0.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.53$0.28$0.80