Civic Intelligence

Summit School Foundation Inc.

990 • Fiscal year 2018 • EIN 52-2367785

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 20, 2019

Organization ProfileN/A
187-30 Grand Central ParkwayJamaica, NY 11432

(718) 264-2931

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.28x

Higher debt load relative to assets than 63% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

0.91x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

7th percentile

-26%

Higher net margin than 7% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

46th percentile

$54,000

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

80th percentile

25%

Faster asset growth than 80% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

16th percentile

-11%

Faster revenue growth than 16% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$2,450,511

Up $485,797 (+25%) from 2017

Net Assets

Down

$1,770,897

Down $193,817 (-9.9%) from 2017

Liabilities

Up

$679,614

Up $679,614 from 2017

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin7th percentile

Revenue

Down

$749,269

Down $95,758 (-11%) from 2017

Expenses

Up

$943,086

Up $250,311 (+36%) from 2017

Net Income

Down

-$193,817

Down $346,069 (-227%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,389,462Liabilities 2010: $0Net Assets 2010: $2,389,4622010Assets 2011: $2,715,381Liabilities 2011: $0Net Assets 2011: $2,715,3812011Assets 2012: $2,672,880Liabilities 2012: $0Net Assets 2012: $2,672,8802012Assets 2013: $2,227,725Liabilities 2013: $0Net Assets 2013: $2,227,7252013Assets 2014: $2,048,890Liabilities 2014: $0Net Assets 2014: $2,048,8902014Assets 2015: $1,915,771Liabilities 2015: $0Net Assets 2015: $1,915,7712015Assets 2016: $1,812,462Liabilities 2016: $0Net Assets 2016: $1,812,4622016Assets 2017: $1,964,714Liabilities 2017: $0Net Assets 2017: $1,964,7142017Assets 2018: $2,450,511Liabilities 2018: $679,614Net Assets 2018: $1,770,8972018Assets 2019: $1,774,145Liabilities 2019: $0Net Assets 2019: $1,774,1452019Assets 2020: $2,129,999Liabilities 2020: $0Net Assets 2020: $2,129,9992020Assets 2021: $2,118,497Liabilities 2021: $0Net Assets 2021: $2,118,4972021Assets 2022: $2,028,796Liabilities 2022: $0Net Assets 2022: $2,028,7962022Assets 2023: $2,208,537Liabilities 2023: $0Net Assets 2023: $2,208,5372023Assets 2024: $2,208,537Liabilities 2024: $0Net Assets 2024: $2,208,5372024

Highlighted filing

2018

Assets$2,450,511
Liabilities$679,614
Net Assets$1,770,897
Open 2018 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $204,9352010Revenue 2011: $700,803Expenses 2011: $363,886Net Income 2011: $336,9172011Expenses 2012: $840,1332012Revenue 2013: $909,942Expenses 2013: $1,355,097Net Income 2013: -$445,1552013Revenue 2014: $902,250Expenses 2014: $1,081,085Net Income 2014: -$178,8352014Revenue 2015: $921,908Expenses 2015: $1,055,027Net Income 2015: -$133,1192015Revenue 2016: $907,765Expenses 2016: $1,011,074Net Income 2016: -$103,3092016Revenue 2017: $845,027Expenses 2017: $692,775Net Income 2017: $152,2522017Revenue 2018: $749,269Expenses 2018: $943,086Net Income 2018: -$193,8172018Revenue 2019: $755,526Expenses 2019: $752,278Net Income 2019: $3,2482019Revenue 2020: $720,342Expenses 2020: $364,488Net Income 2020: $355,8542020Revenue 2021: $510,706Expenses 2021: $522,208Net Income 2021: -$11,5022021Revenue 2022: $244,779Expenses 2022: $334,480Net Income 2022: -$89,7012022Revenue 2023: $328,007Expenses 2023: $208,252Net Income 2023: $119,7552023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2018

Revenue$749,269
Expenses$943,086
Net Income-$193,817
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 20, 2019
Return Version
2018v3.1
Gross Receipts
$749,269
Mission and Program Overview

Mission

To raise money to establish a fund which can be used exclusively to fund educational purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,305,393$1,239,947▼ $65,446
Cash and Non-Interest-Bearing Accounts$659,321$560,564▼ $98,757
Total Assets$1,964,714$2,450,511▲ $485,797
Other Assets Total-$650,000-
Liabilities
Accounts Payable and Accrued Expenses-$679,614-
Total Liabilities$0$679,614▲ $679,614
Net Assets / Fund Balance
Unrestricted Net Assets$1,964,714$1,770,897▼ $193,817
Total Net Assets Fund Balance$1,964,714$1,770,897▼ $193,817
Total Liabilities and Net Assets / Fund Balance$1,964,714$2,450,511▲ $485,797

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$650,000--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Richard SitmanDirectorPT$54,000$54,000
John RennerDirectorPT$39,996$39,996
Mayer StiskinDirector-$18,600$18,600

Board Members and Trustees

NameTitle
Brant GoldsmithDirector
Bruce GoldsmithDirector
Larry LitwackDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$620,780
Program Service Revenue
$0
Investment Income
$21,430
Other Revenue
$107,059
All Other Contributions
$620,780
Change in Net Assets
$-193,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$732,753
Other Expenses$210,333
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$732,753--$732,753
Fees for Services Management$173,196--$173,196
Conferences and Meetings$8,600--$8,600
Travel$5,200--$5,200
Office Expenses$3,147--$3,147
Fees for Services Accounting$3,000--$3,000
Other Expenses$1,000--$1,000
Insurance$523--$523
Total Functional Expenses$943,086$0$0$943,086
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Summit SchoolJamaica Estates, NY-Payroll Operating Expense$732,753
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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, Line 11B

“Organizations Process to Review Form 990 Board of Directors review Form 990,”

Form 990, Part VI, Line 19

“Governing Documents Disclosure Explanation Documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Summit School Foundation
EIN
52-2367785
Phone
7182642931
Address
187-30 Grand Central Parkway, Jamaica, NY 11432

Signing Officer

Name
Richard Sitman
Title
Director
Signed
2019-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Sitman
Formed
2000
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Kenneth H Gach CPA PC
Address
200 East Erie St, Blauvelt, NY 10913
Preparer
Kenneth H Gach
Phone
8453981181
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

“To serve and promote the needs of The Summit School. To assist The Summit School in raising funds for use in furtherance of its educational purposes and to conduct any and all lawful activities which may be useful in accomplishing the foregoing purposes.”

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IRS990ScheduleI/RecipientTable/CashGrantAmt0732753
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Payroll Operating Expense
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Summit School
IRS990ScheduleI/RecipientTable/RecipientEIN0112167091
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0187-30 Grand Central Pkwy
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Jamaica Estates
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd011432
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0To serve and promote the needs of The Summit School. To assist The Summit School in raising funds for use in furtherance of its educational purposes and to conduct any and all lawful activities which may be useful in accomplishing the foregoing purposes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Organizations Process to Review Form 990 Board of Directors review Form 990,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing Documents Disclosure Explanation Documents are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01964714
IRS990/TotalAssetsEOYAmt02450511
IRS990/TotalAssetsGrp/BOYAmt01964714
IRS990/TotalAssetsGrp/EOYAmt02450511
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0620780
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0943086
IRS990/TotalFunctionalExpensesGrp/TotalAmt0943086
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0679614
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0679614
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01964714
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01770897
IRS990/TotalProgramServiceExpensesAmt0943086
IRS990/TotalReportableCompFromOrgAmt0112596
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0749269
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01964714
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02450511
IRS990/TravelGrp/ProgramServicesAmt05200
IRS990/TravelGrp/TotalAmt05200
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01964714
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01770897
IRS990/USAddress/AddressLine1Txt0200 E Erie St Ste 2n
IRS990/USAddress/CityNm0Blauvelt
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010913
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard Sitman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Summit School Foundation
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0522367785
ReturnHeader/Filer/PhoneNum07182642931
ReturnHeader/Filer/USAddress/AddressLine1Txt0187-30 Grand Central Parkway
ReturnHeader/Filer/USAddress/CityNm0Jamaica
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011432
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D318CF980B9190BE6B8EDF544F4EC019FAD2859E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D318CF980B9190BE6B8EDF544F4EC019FAD2859E
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId02630132019108s1rdng4
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-11-16
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.127.1.234
ReturnHeader/FilingSecurityInformation/IPDt02019-11-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:37:45
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Kenneth H Gach CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 East Erie St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Blauvelt
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010913
ReturnHeader/PreparerPersonGrp/PhoneNum08453981181
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kenneth H Gach
ReturnHeader/ReturnTs02019-11-20T12:47:26-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,450,511
Liabilities
$679,614
Net assets
$1,770,897
Revenue
$749,269
Expenses
$943,086
Net income
-$193,817
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.21$0.00$2.21$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$2.21$0.00$2.21$0.33$0.21$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.03$0.00$2.03$0.24$0.33$0.09
2021Detailed filing. Detailed filing data is available for this year.$2.12$0.00$2.12$0.51$0.52$0.01
2020Detailed filing. Detailed filing data is available for this year.$2.13$0.00$2.13$0.72$0.36$0.36
2019Detailed filing. Detailed filing data is available for this year.$1.77$0.00$1.77$0.76$0.75$0.00
2018Detailed filing. Detailed filing data is available for this year.$2.45$0.68$1.77$0.75$0.94$0.19
2017Detailed filing. Detailed filing data is available for this year.$1.96$0.00$1.96$0.85$0.69$0.15
2016Detailed filing. Detailed filing data is available for this year.$1.81$0.00$1.81$0.91$1.01$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.92$0.00$1.92$0.92$1.06$0.13
2014Detailed filing. Detailed filing data is available for this year.$2.05$0.00$2.05$0.90$1.08$0.18
2013Detailed filing. Detailed filing data is available for this year.$2.23$0.00$2.23$0.91$1.36$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$0.00$2.67$0.84
2011Summary only. Only limited summary data is available for this year.$2.72$0.00$2.72$0.70$0.36$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$0.00$2.39$0.20