Civic Intelligence

Summit Charter School Inc.

990 • Fiscal year 2020 • EIN 56-1993257

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 31, 2021

Organization ProfileWWW.SUMMITSCHOOL.ORG

View Organization Page

370 Mitten LnCashiers, NC 28717

(828) 743-5755

Siviq Scores

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

Liabilities / Assets

96th percentile

1.53x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

58th percentile

0.19x

Higher debt load relative to revenue than 58% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

19th percentile

-9.8%

Higher net margin than 19% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

53rd percentile

$70,590

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

91st percentile

116%

Faster asset growth than 91% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

49th percentile

-1.1%

Faster revenue growth than 49% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$334,124

Up $179,596 (+116%) from 2019

Net Assets

Down

-$177,574

Down $263,765 (-306%) from 2019

Liabilities

Up

$511,698

Up $443,361 (+649%) from 2019

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin19th percentile

Revenue

Down

$2,687,785

Down $30,732 (-1.1%) from 2019

Expenses

Up

$2,951,550

Up $173,685 (+6.3%) from 2019

Net Income

Down

-$263,765

Down $204,417 (-344%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$1.0M$500K$0-$500KAssets 2011: $152,509Liabilities 2011: $11,108Net Assets 2011: $141,4012011Assets 2012: $116,156Liabilities 2012: $12,697Net Assets 2012: $103,4592012Assets 2013: $149,441Liabilities 2013: $12,046Net Assets 2013: $137,3952013Assets 2014: $80,843Liabilities 2014: $13,691Net Assets 2014: $67,1522014Assets 2015: $101,399Liabilities 2015: $16,285Net Assets 2015: $85,1142015Assets 2016: $76,682Liabilities 2016: $5,678Net Assets 2016: $71,0042016Assets 2017: $82,058Liabilities 2017: $5,403Net Assets 2017: $76,6552017Assets 2018: $175,747Liabilities 2018: $30,208Net Assets 2018: $145,5392018Assets 2019: $154,528Liabilities 2019: $68,337Net Assets 2019: $86,1912019Assets 2020: $334,124Liabilities 2020: $511,698Net Assets 2020: -$177,5742020Assets 2021: $246,672Liabilities 2021: $155,579Net Assets 2021: $91,0932021Assets 2022: $205,607Liabilities 2022: $50,523Net Assets 2022: $155,0842022Assets 2023: $270,184Liabilities 2023: $127,856Net Assets 2023: $142,3282023Assets 2024: $755,677Liabilities 2024: $588,964Net Assets 2024: $166,7132024Assets 2025: $421,707Liabilities 2025: $181,194Net Assets 2025: $240,5132025

Highlighted filing

2020

Assets$334,124
Liabilities$511,698
Net Assets-$177,574
Open 2020 Filing

Operations Trend

Revenue Growth49th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,714,450Expenses 2011: $1,734,877Net Income 2011: -$20,4272011Revenue 2012: $1,810,386Expenses 2012: $1,848,328Net Income 2012: -$37,9422012Revenue 2013: $1,836,864Expenses 2013: $1,802,928Net Income 2013: $33,9362013Revenue 2014: $1,850,691Expenses 2014: $1,920,934Net Income 2014: -$70,2432014Revenue 2015: $1,910,422Expenses 2015: $1,892,460Net Income 2015: $17,9622015Revenue 2016: $1,949,188Expenses 2016: $1,963,298Net Income 2016: -$14,1102016Revenue 2017: $2,285,900Expenses 2017: $2,280,249Net Income 2017: $5,6512017Revenue 2018: $2,452,936Expenses 2018: $2,384,052Net Income 2018: $68,8842018Revenue 2019: $2,718,517Expenses 2019: $2,777,865Net Income 2019: -$59,3482019Revenue 2020: $2,687,785Expenses 2020: $2,951,550Net Income 2020: -$263,7652020Revenue 2021: $3,513,448Expenses 2021: $3,244,781Net Income 2021: $268,6672021Revenue 2022: $3,784,050Expenses 2022: $3,720,059Net Income 2022: $63,9912022Revenue 2023: $4,001,107Expenses 2023: $4,013,863Net Income 2023: -$12,7562023Revenue 2024: $4,243,982Expenses 2024: $4,219,597Net Income 2024: $24,3852024Revenue 2025: $4,600,806Expenses 2025: $4,527,006Net Income 2025: $73,8002025

Highlighted filing

2020

Revenue$2,687,785
Expenses$2,951,550
Net Income-$263,765
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 31, 2021
Return Version
2019v5.0
Gross Receipts
$2,687,785
Mission and Program Overview

Mission

Operation of a North Carolina public charter school.

Operation of a north carolina public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$94,485$129,402▲ $34,917
Cash and Non-Interest-Bearing Accounts$50$129,346▲ $129,296
Land, Buildings, and Equipment, Net$54,045$51,113▼ $2,932
Prepaid Expenses and Deferred Charges$5,948$24,263▲ $18,315
Total Assets$154,528$334,124▲ $179,596
Liabilities
Unsecured Notes Loans Payable-$401,500-
Other Liabilities$23,731$68,525▲ $44,794
Deferred Revenue$2,780$30,311▲ $27,531
Accounts Payable and Accrued Expenses$41,826$11,362▼ $30,464
Total Liabilities$68,337$511,698▲ $443,361
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$129,296-
Net Assets Without Donor Restrictions$86,191$-306,870▼ $393,061
Total Net Assets Fund Balance$86,191$-177,574▼ $263,765
Total Liabilities and Net Assets / Fund Balance$154,528$334,124▲ $179,596

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$48,317$116,911$165,228
Leasehold Improvements$2,796$2,287$5,083
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kurt Pusch Non-votingHead of SchoFT$70,590$70,590
Marie Starkings Non VotingBusiness ManFT$63,650$63,650
Jesse Lloyd Non VotingFaculty RepFT$38,867$38,867
Brittany Schiele Non VotingFaculty RepFT$38,451$38,451

Board Members and Trustees

NameTitle
Ann BettyChairman
Scott WestendorfVice Chair
Betsy HelmsDirector
Edward ColeDirector
Elisabeth HoffmanDirector
Katie BumgarnerDirector
Robin TannerDirector
Tim BoeveDirector
Travis BoswellDirector
Josh Crawford Non VotingFoundation C
Rob Hunter Non VotingFoundation V
Collins ZimmerSecretary
David BillingsleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$526,249
Program Service Revenue
$2,117,575
Investment Income
$0
Other Revenue
$43,961
All Other Contributions
$252,410
Change in Net Assets
$-263,765

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,687,785
Total Revenue per Audited Statements
$2,687,785
Total Revenue per Form 990
$2,687,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,334,759
Other Expenses$616,791
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,609,000$156,931-$1,765,931
Other Employee Benefits$194,059$36,964-$231,023
Fees for Services Other$159,762$57,394-$217,156
Current Officers, Directors, Trustees, and Key Employees-$150,000-$150,000
Payroll Taxes$120,303$22,915-$143,218
Occupancy$87,682$29,227-$116,909
Office Expenses$16,481$29,223-$45,704
Pension Plan Contributions$37,453$7,134-$44,587
Conferences and Meetings$21,459$515-$21,974
Insurance-$20,964-$20,964
Information Technology$17,351$1,487-$18,838
Depreciation Depletion$8,945$2,982-$11,927
Fees for Services Accounting-$11,654-$11,654
All Other Expenses$379$8,378-$8,757
Other Expenses$5,921$1,540-$7,461
Advertising-$5,164-$5,164
Travel$1,347$2,619-$3,966
Total Functional Expenses$2,406,459$545,091$0$2,951,550

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,951,550
Total Expenses per Audited Statements$2,951,550
Total Expenses per Form 990$2,951,550
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,483
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
Bank Overdraft$68,525
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Acadia northstar, llc accounting & business management”

Form 990, Page 6, Part VI, Line 11B

“The board chair, head of school, and business officer review and approve the 990 before it is filed. A copy of the 990 is provided to all board members.”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to complete a conflict of interest form annually to disclose actual and potential conflicts of interest. The completed forms are reviewed by the executive committee, which attempts to resolve any actual or potential conflicts and, in the absence of resolution, refers the matter to the board of directors.”

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

“The board of directors approves compensation for the top management official (head of school). Compensation is based on comparability data and performance.”

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

“The only directors compensated are also employees of the school. The head of school is responsible for determining compensaton of key employees. Compensation is based on comparibility data.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, school policies, and financial statements are available for viewing by the public at the organization's office upon request. Board meetings are open to the public.”

Filing and Contact Details

Filer

Filer Name
Summit Charter School
EIN
56-1993257
Phone
8287435755
Address
370 MITTEN LN, CASHIERS, NC 28717

Signing Officer

Name
Ann Betty
Title
Chairman
Phone
8287435755
Signed
2021-03-31

Organization Details

Principal Officer
Ann Betty
Formed
1997
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
63
Volunteers
11

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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IRS990/Form990PartVIISectionAGrp/TitleTxt12FOUNDATION V
IRS990/Form990PartVIISectionAGrp/TitleTxt13FACULTY REP
IRS990/Form990PartVIISectionAGrp/TitleTxt14FACULTY REP
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IRS990/OccupancyGrp/TotalAmt0116909
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IRS990/OfficeExpensesGrp/TotalAmt045704
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IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1FIELD TRIPS
IRS990/OtherExpensesGrp/Desc2TEXTBOOKS
IRS990/OtherExpensesGrp/Desc3NON-CAP EQUIP PURCHASES
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IRS990/OtherExpensesGrp/ProgramServicesAmt071049
IRS990/OtherExpensesGrp/ProgramServicesAmt138775
IRS990/OtherExpensesGrp/ProgramServicesAmt216493
IRS990/OtherExpensesGrp/ProgramServicesAmt35921
IRS990/OtherExpensesGrp/TotalAmt071049
IRS990/OtherExpensesGrp/TotalAmt138775
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IRS990/OtherRevenueMiscGrp/Desc1INCIDENTIAL RENTAL INCOME
IRS990/OtherRevenueMiscGrp/Desc2SALES & USE & FUEL TAX REFUND
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0120303
IRS990/PayrollTaxesGrp/TotalAmt0143218
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt07134
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt037453
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IRS990/PrincipalOfficerNm0ANN BETTY
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IRS990/ProgramServiceRevenueGrp/Desc1COUNTY FUNDS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1494825
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt246739
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IRS990/PYContributionsGrantsAmt0648899
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt080000
IRS990/PYOtherExpensesAmt0561226
IRS990/PYOtherRevenueAmt023683
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IRS990/PYRevenuesLessExpensesAmt0-59348
IRS990/PYSalariesCompEmpBnftPaidAmt02136639
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IRS990/PYTotalRevenueAmt02718517
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IRS990/ReconcilationRevenueExpnssAmt0-263765
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt048317
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0116911
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IRS990ScheduleD/ExpensesSubtotalAmt02951550
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02796
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02287
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt05083
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt068525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BANK OVERDRAFT
IRS990ScheduleD/RevenueSubtotalAmt02687785
IRS990ScheduleD/TotalBookValueLandBuildingsAmt051113
IRS990ScheduleD/TotalExpensesPerForm990Amt02951550
IRS990ScheduleD/TotalLiabilityAmt068525
IRS990ScheduleD/TotalRevenuePerForm990Amt02687785
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02687785
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SUMMIT CHARTER IS A PUBLIC SCHOOL, CHARTERED AND FUNDED BY THE STATE OF NORTH CAROLINA. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATORY POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt16A) NORTH CAROLINA CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACADIA NORTHSTAR, LLC ACCOUNTING & BUSINESS MANAGEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD CHAIR, HEAD OF SCHOOL, AND BUSINESS OFFICER REVIEW AND APPROVE THE 990 BEFORE IT IS FILED. A COPY OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS.

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Filings

Displayed year

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

Open filing
Assets
$334,124
Liabilities
$511,698
Net assets
-$177,574
Revenue
$2,687,785
Expenses
$2,951,550
Net income
-$263,765
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.42$0.18$0.24$4.60$4.53$0.07
2024Detailed filing. Detailed filing data is available for this year.$0.76$0.59$0.17$4.24$4.22$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.27$0.13$0.14$4.00$4.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.21$0.05$0.16$3.78$3.72$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.25$0.16$0.09$3.51$3.24$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.51$0.18$2.69$2.95$0.26
2019Summary only. Only limited summary data is available for this year.$0.15$0.07$0.09$2.72$2.78$0.06
2018Summary only. Only limited summary data is available for this year.$0.18$0.03$0.15$2.45$2.38$0.07
2017Summary only. Only limited summary data is available for this year.$0.08$0.01$0.08$2.29$2.28$0.01
2016Summary only. Only limited summary data is available for this year.$0.08$0.01$0.07$1.95$1.96$0.01
2015Summary only. Only limited summary data is available for this year.$0.10$0.02$0.09$1.91$1.89$0.02
2014Summary only. Only limited summary data is available for this year.$0.08$0.01$0.07$1.85$1.92$0.07
2013Summary only. Only limited summary data is available for this year.$0.15$0.01$0.14$1.84$1.80$0.03
2012Summary only. Only limited summary data is available for this year.$0.12$0.01$0.10$1.81$1.85$0.04
2011Summary only. Only limited summary data is available for this year.$0.15$0.01$0.14$1.71$1.73$0.02