Civic Intelligence

Summit Schools Inc.

990 • Fiscal year 2020 • EIN 41-1472874

Jun 01, 2019 to May 31, 2020 • Filed on Oct 15, 2020

Organization ProfileWWW.SUMMITSCHOOLS.COM

View Organization Page

1010 Regent Street NECedar Rapids, IA 52402

(319) 294-2036

Siviq Scores

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

Liabilities / Assets

84th percentile

0.57x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

0.55x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

43rd percentile

2.4%

Higher net margin than 43% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

54th percentile

7.7%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-2.5%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,042,270

Up $74,261 (+7.7%) from 2019

Net Assets

Up

$443,333

Up $25,595 (+6.1%) from 2019

Liabilities

Up

$598,937

Up $48,666 (+8.8%) from 2019

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin43rd percentile

Revenue

Down

$1,081,194

Down $27,367 (-2.5%) from 2019

Expenses

Up

$1,055,599

Up $4,243 (+0.4%) from 2019

Net Income

Down

$25,595

Down $31,610 (-55%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

2020

Assets$1,042,270
Liabilities$598,937
Net Assets$443,333
Open 2020 Filing

Operations Trend

Revenue Growth43rd percentile

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

2020

Revenue$1,081,194
Expenses$1,055,599
Net Income$25,595
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Oct 15, 2020
Return Version
2019v5.0
Gross Receipts
$1,101,078
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$523,506$497,139▼ $26,367
Savings and Temporary Cash Investments$335,693$337,817▲ $2,124
Cash and Non-Interest-Bearing Accounts$60,738$170,101▲ $109,363
Accounts Receivable$39,534$37,076▼ $2,458
Prepaid Expenses and Deferred Charges$8,538$137▼ $8,401
Total Assets$968,009$1,042,270▲ $74,261
Liabilities
Mortgage Notes Payable Secured by Investment Property$314,279$456,728▲ $142,449
Deferred Revenue$197,064$84,855▼ $112,209
Accounts Payable and Accrued Expenses$38,928$57,354▲ $18,426
Total Liabilities$550,271$598,937▲ $48,666
Net Assets / Fund Balance
Net Assets With Donor Restrictions$219,236$229,686▲ $10,450
Net Assets Without Donor Restrictions$198,502$213,647▲ $15,145
Total Net Assets Fund Balance$417,738$443,333▲ $25,595
Total Liabilities and Net Assets / Fund Balance$968,009$1,042,270▲ $74,261

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$407,949$361,580$769,529
Equipment$3,590$98,266$101,856
Land$85,600-$85,600
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Paly AfridiPresident
Chris GrawBoard Member
Christopher ParkerBoard Member
Matt DotyBoard Member
Terri PetersenBoard Member
Virginia MichalicekBoard Member
Lynn DavySecretary
Cameron DevorTreasurer
Dan ClarkeVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$77,565
Program Service Revenue
$904,556
Investment Income
$6,523
Other Revenue
$92,550
All Other Contributions
$75,960
Change in Net Assets
$25,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$863,656
Other Expenses$191,943
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$707,628$73,276-$780,904
Payroll Taxes$51,710$5,355-$57,065
Other Employee Benefits$23,277$2,410-$25,687
Depreciation Depletion$24,283--$24,283
All Other Expenses$23,555--$23,555
Insurance$18,482--$18,482
Occupancy$13,973--$13,973
Advertising$10,845--$10,845
Interest$9,821--$9,821
Fees for Services Accounting$9,225--$9,225
Other Expenses$8,834--$8,834
Office Expenses$5,917$1,235-$7,152
Conferences and Meetings$2,892--$2,892
Fees for Services Legal$296--$296
Total Functional Expenses$973,323$82,276$0$1,055,599
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$85,101
Fundraising Direct Expenses$7,931
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Adult Social$85,101$85,101$7,931$77,170
Total Events$85,101$85,101$7,931$77,170
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
No
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
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

Filer Name
Summit Schools Inc
EIN
41-1472874
Phone
3192942036
Address
1010 REGENT STREET NE, CEDAR RAPIDS, IA 52402

Signing Officer

Name
Larisa Bickel
Title
School Director
Phone
3192942036
Signed
2020-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larisa Bickel
Formed
1998
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
66
Volunteers
94

Preparer

Firm
Bghn Associates Pc
Address
1845 51ST ST NE, CEDAR RAPIDS, IA 52402
Preparer
Kirt T Norris
Phone
3193668400
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt098266
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0101856
IRS990ScheduleD/LandGrp/BookValueAmt085600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt085600
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0497139
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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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
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt085101
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt085101
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt085101
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt077170
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07931
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07931
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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/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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/WebsiteAddressTxt0WWW.SUMMITSCHOOLS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0LARISA BICKEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SCHOOL DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-15
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BGHN ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01845 51ST ST NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CEDAR RAPIDS
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052402
ReturnHeader/PreparerPersonGrp/PhoneNum03193668400

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,042,270
Liabilities
$598,937
Net assets
$443,333
Revenue
$1,081,194
Expenses
$1,055,599
Net income
$25,595
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
2020Detailed filing. Detailed filing data is available for this year.$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
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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