Civic Intelligence

Lake Summit Foundation Inc

EIN 58-1727959 • 501(c)3 • Hendersonville, NC

Profile

Contributions for education and conservation and support the administration and operation of a public park.

15 Westminster CourtHendersonville, NC 28739

lakesummitonline.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

18th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

19th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

55th percentile

7.0%

Higher net margin than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

61st percentile

8.0%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

8th percentile

-37%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$2,368,148

Up $207,198 (+9.6%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$2,368,148

Up $207,198 (+9.6%) from 2023

Revenue

Down

$139,329

Down $32,831 (-19%) from 2023

Expenses

Up

$129,523

Up $25,531 (+25%) from 2023

Net Income

Down

$9,806

Down $58,362 (-86%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $410,010Net Assets 2010: $410,0102010Assets 2011: $438,883Net Assets 2011: $438,8832011Assets 2012: $463,005Net Assets 2012: $463,0052012Assets 2013: $786,370Liabilities 2013: $0Net Assets 2013: $786,3702013Assets 2014: $833,172Liabilities 2014: $0Net Assets 2014: $833,1722014Assets 2015: $826,817Liabilities 2015: $0Net Assets 2015: $826,8172015Assets 2016: $874,087Liabilities 2016: $0Net Assets 2016: $874,0872016Assets 2017: $984,817Liabilities 2017: $0Net Assets 2017: $984,8172017Assets 2018: $939,226Liabilities 2018: $0Net Assets 2018: $939,2262018Assets 2019: $550,116Liabilities 2019: $0Net Assets 2019: $550,1162019Assets 2020: $919,706Liabilities 2020: $0Net Assets 2020: $919,7062020Assets 2021: $1,873,874Liabilities 2021: $0Net Assets 2021: $1,873,8742021Assets 2022: $2,029,291Liabilities 2022: $0Net Assets 2022: $2,029,2912022Assets 2023: $2,160,950Liabilities 2023: $0Net Assets 2023: $2,160,9502023Assets 2024: $2,368,148Liabilities 2024: $0Net Assets 2024: $2,368,1482024

Highlighted filing

2024

Assets$2,368,148
Liabilities$0
Net Assets$2,368,148

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $66,519Expenses 2010: $32,952Net Income 2010: $33,5672010Revenue 2011: $50,682Expenses 2011: $21,809Net Income 2011: $28,8732011Revenue 2012: $47,262Expenses 2012: $23,140Net Income 2012: $24,1222012Revenue 2013: $74,413Expenses 2013: $35,508Net Income 2013: $38,9052013Revenue 2014: $80,535Expenses 2014: $39,139Net Income 2014: $41,3962014Revenue 2015: $77,072Expenses 2015: $63,829Net Income 2015: $13,2432015Revenue 2016: $66,717Expenses 2016: $39,147Net Income 2016: $27,5702016Revenue 2017: $86,966Expenses 2017: $40,059Net Income 2017: $46,9072017Revenue 2018: $59,670Expenses 2018: $67,573Net Income 2018: -$7,9032018Revenue 2019: $96,420Expenses 2019: $555,261Net Income 2019: -$458,8412019Revenue 2020: $127,073Expenses 2020: $106,119Net Income 2020: $20,9542020Revenue 2021: $957,445Expenses 2021: $80,932Net Income 2021: $876,5132021Revenue 2022: $351,179Expenses 2022: $89,301Net Income 2022: $261,8782022Revenue 2023: $172,160Expenses 2023: $103,992Net Income 2023: $68,1682023Revenue 2024: $139,329Expenses 2024: $129,523Net Income 2024: $9,8062024

Highlighted filing

2024

Revenue$139,329
Expenses$129,523
Net Income$9,806

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.37$0.00$2.37$0.14$0.13$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.16$0.00$2.16$0.17$0.10$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.03$0.00$2.03$0.35$0.09$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.87$0.00$1.87$0.96$0.08$0.88
2020Detailed filing. Detailed filing data is available for this year.$0.92$0.00$0.92$0.13$0.11$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.10$0.56$0.46
2018Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.06$0.07$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.98$0.00$0.98$0.09$0.04$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.07$0.04$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.83$0.00$0.83$0.08$0.06$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.83$0.00$0.83$0.08$0.04$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.07$0.04$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.46$0.05$0.02$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.44$0.05$0.02$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.41$0.07$0.03$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.0
Gross Receipts
$149,403
Mission and Program Overview

Mission

Contributions for education and conservation, operate public park.

Contributions for education and conservation and to support the administration and operation of a public park.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,747,790$1,936,106▲ $188,316
Land, Buildings, and Equipment, Net$304,741$301,307▼ $3,434
Cash and Non-Interest-Bearing Accounts$105,919$128,735▲ $22,816
Accounts Receivable$2,000$2,000→ $0
Prepaid Expenses and Deferred Charges$500--
Total Assets$2,160,950$2,368,148▲ $207,198
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,160,950$2,368,148▲ $207,198
Total Net Assets Fund Balance$2,160,950$2,368,148▲ $207,198
Total Liabilities and Net Assets / Fund Balance$2,160,950$2,368,148▲ $207,198

Asset Categories

AssetBook ValueDepreciationBasis
Land$281,562-$281,562
Equipment$19,745$4,293$24,038
Other Land Buildings-$3,571$3,571
Compensation and Service Providers

Employees

NameTitleBaseTotal
Joyce BiddixSecretary$23,583$23,583

Board Members and Trustees

NameTitle
Lee ArnettPresident
Diane TriplittDirector
Joanna ShermanDirector
Joy OatesDirector
Lillian LillyDirector
Stanford McmillanDirector
Susan WilliamsDirector
Frank D Bell JrLifetime Mem
Jim MillerLifetime Mem
Walter Montgomery JrLifetime Mem
Ted GageTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$101,280
Program Service Revenue
$0
Investment Income
$33,933
Other Revenue
$4,116
All Other Contributions
$78,195
Change in Net Assets
$9,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,523
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$74,110--$74,110
Fees for Service Investment Mgmnt Fees-$15,908-$15,908
Insurance$5,783--$5,783
Depreciation Depletion$3,434--$3,434
Other Expenses$3,280$9,165-$3,280
All Other Expenses$1,692$1,188-$2,880
Office Expenses$331--$331
Total Functional Expenses$103,262$26,261$0$129,523
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,015
Fundraising Direct Expenses$4,850
Professional Fundraising Fees$0
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
Annual disclosure for covered persons
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
No

Governance Explanations

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

A copy of form 990 is made available to all members of the board of directors for review and approval prior to filing.

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

Only the secretary of the board of directors is compensated. All compensation is subject to the review and approval of the board of directors.

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

All compensation is subject to the review and approval of the board of directors.

Form 990, Page 6, Part VI, Line 19

Governing documents, financial statements, and form 990 are available to the public by appointment with the secretary or treasurer.

Filing and Contact Details

Filer

Filer Name
Lake Summit Foundation Inc
EIN
58-1727959
Phone
8287078227
Address
15 WESTMINSTER COURT, HENDERSONVILLE, NC 28739

Signing Officer

Name
Joyce Biddix
Title
Secretary
Phone
8287078227
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Biddix
Formed
2008
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
18

Preparer

Firm
Gould Killian CPA Group Pa
Address
100 COXE AVE, ASHEVILLE, NC 28801-2354
Preparer
Terry B Andersen CPA
Phone
8282580363
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted services 40,610 0 0 other professional expense 33,500 0 0 total 74,110 0 0

Raw XML Appendix396 raw XML fields

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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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0500
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IRS990/PYInvestmentIncomeAmt018339
IRS990/PYOtherExpensesAmt0103992
IRS990/PYOtherRevenueAmt059188
IRS990/PYRevenuesLessExpensesAmt068168
IRS990/PYTotalExpensesAmt0103992
IRS990/PYTotalRevenueAmt0172160
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IRS990/QuidProQuoContriDisclInd0true
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FUNDRAISING EVENTS 73,327 SALE OF INVENTORY 66,619
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt094633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0311127
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0945974
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0107934
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01560948
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt033933
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt018339
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt040899
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt010484
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05926
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0109581
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt014190
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt068953
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt020360
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt08518
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt027925
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ONLY THE SECRETARY OF THE BOARD OF DIRECTORS IS COMPENSATED. ALL COMPENSATION IS SUBJECT TO THE REVIEW AND APPROVAL OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL COMPENSATION IS SUBJECT TO THE REVIEW AND APPROVAL OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORM 990 ARE AVAILABLE TO THE PUBLIC BY APPOINTMENT WITH THE SECRETARY OR TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACTED SERVICES 40,610 0 0 OTHER PROFESSIONAL EXPENSE 33,500 0 0 TOTAL 74,110 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02368148
IRS990/TotalProgramServiceExpensesAmt0103262
IRS990/TotalReportableCompFromOrgAmt023583
IRS990/TotalRevenueGrp/ExclusionAmt038049
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0139329
IRS990/TotalVolunteersCnt018
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IRS990/USAddress/CityNm0HENDERSONVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028739
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0LAKESUMMITONLINE.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE BIDDIX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum08287078227
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE SUMMIT FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0581727959
ReturnHeader/Filer/PhoneNum08287078227
ReturnHeader/Filer/USAddress/AddressLine1Txt015 WESTMINSTER COURT
ReturnHeader/Filer/USAddress/CityNm0HENDERSONVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028739
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561042836
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GOULD KILLIAN CPA GROUP PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 COXE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0288012354
ReturnHeader/PreparerPersonGrp/PhoneNum08282580363
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TERRY B ANDERSEN CPA
ReturnHeader/ReturnTs02025-11-14T12:27:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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