Civic Intelligence

Lake Summit Foundation Inc

990 • Fiscal year 2015 • EIN 58-1727959

Jan 01, 2015 to Dec 31, 2015 • Filed on May 04, 2016

Organization ProfileLAKESUMMITONLINE.COM
15 Westminster CourtHendersonville, NC 28739

(828) 694-5149

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

25th percentile

0.00x

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

75th percentile

17%

Higher net margin than 75% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$5,000

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

42nd percentile

-0.8%

Faster asset growth than 42% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

33rd percentile

-4.3%

Faster revenue growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets25th percentile

Assets

Down

$826,817

Down $6,355 (-0.8%) from 2014

Net Assets

Down

$826,817

Down $6,355 (-0.8%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin75th percentile

Revenue

Down

$77,072

Down $3,463 (-4.3%) from 2014

Expenses

Up

$63,829

Up $24,690 (+63%) from 2014

Net Income

Down

$13,243

Down $28,153 (-68%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$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

2015

Assets$826,817
Liabilities$0
Net Assets$826,817
Open 2015 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$77,072
Expenses$63,829
Net Income$13,243
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 4, 2016
Return Version
2015v2.1
Gross Receipts
$89,809
Mission and Program Overview

Mission

Contributions for education and conservation, operate public park.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$514,183$498,117▼ $16,066
Land, Buildings, and Equipment, Net$285,812$284,745▼ $1,067
Cash and Non-Interest-Bearing Accounts$33,177$43,955▲ $10,778
Total Assets$833,172$826,817▼ $6,355
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$833,172$826,817▼ $6,355
Total Net Assets Fund Balance$833,172$826,817▼ $6,355
Total Liabilities and Net Assets / Fund Balance$833,172$826,817▼ $6,355

Asset Categories

AssetBook ValueDepreciationBasis
Land$281,561-$281,561
Leasehold Improvements$3,184$24,427$27,611
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleBaseTotal
Joyce BiddixSecretary/tr$5,000$5,000

Board Members and Trustees

NameTitle
Bill KehlPresident
Ann PouchDirector
Bill CokerDirector
Elsa HudsonDirector
Harriet GoldsmithDirector
Mary ArnettDirector
Scott MontgomeryDirector
Frank D Bell JrLifetime Mem
Katie Miller-grantLifetime Mem
Walter Montgomery JrLifetime Mem
Martin CornelsonLspoa Presid
Craig JacksonWebmaster
Revenue and Support

Revenue Composition

Contributions and Grants
$50,044
Program Service Revenue
$0
Investment Income
$8,703
Other Revenue
$18,325
All Other Contributions
$50,044
Change in Net Assets
$13,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,829
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$5,590$5,000-$10,590
Conferences and Meetings-$6,489-$6,489
Fees for Service Investment Mgmnt Fees-$5,171-$5,171
Office Expenses$3,027--$3,027
All Other Expenses$2,415$18-$2,433
Other Expenses$1,577--$1,577
Fees for Services Accounting-$1,300-$1,300
Depreciation Depletion$1,067--$1,067
Insurance$766--$766
Total Functional Expenses$45,851$17,978$0$63,829
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$22,807
Fundraising Direct Expenses$6,547
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$12,202$12,202-$12,202
Barbecue/square$7,042$7,042$2,947$4,095
Total Events$19,244$19,244$2,947$16,297
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
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/treasurer 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 are available to the public by appointment with the secretary/treasurer.”

Filing and Contact Details

Filer

Filer Name
Lake Summit Foundation Inc
EIN
58-1727959
Phone
8286945149
Address
15 WESTMINSTER COURT, HENDERSONVILLE, NC 28739

Signing Officer

Name
Joyce Biddix
Title
Secretary/treasurer
Phone
8286945149
Signed
2016-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Biddix
Formed
2008
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Carland & Andersen Inc
Address
PO BOX 179, HENDERSONVILLE, NC 28793
Preparer
Ronald G Carland CPA
Phone
8286922583
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract labor - clerical 0 5,000 0 park security 5,590 0 0”

Form 990, Part XI, Line 9

“Unrealized loss on investments -19,598 total -19,598”

Raw XML Appendix395 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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt056504
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt045872
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt041860
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt050160
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0244440
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt08703
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt010023
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt014047
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt08
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0179
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt032960
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt031062
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.88120
IRS990ScheduleA/PublicSupportPY170Pct00.91170
IRS990ScheduleA/PublicSupportTotal170Amt0244440
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt050044
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt056504
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt045872
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt041860
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt050160
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0244440
IRS990ScheduleA/TotalSupportAmt0277400
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0281561
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0281561
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03184
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt024427
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt027611
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0284745
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt02947
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BARBECUE/SQUARE
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt012202
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt07042
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt019244
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt012202
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt07042
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt019244
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt016297
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt02947
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt02947
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/TREASURER 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 ARE AVAILABLE TO THE PUBLIC BY APPOINTMENT WITH THE SECRETARY/TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT LABOR - CLERICAL 0 5,000 0 PARK SECURITY 5,590 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UNREALIZED LOSS ON INVESTMENTS -19,598 TOTAL -19,598
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 IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0833172
IRS990/TotalAssetsEOYAmt0826817
IRS990/TotalAssetsGrp/BOYAmt0833172
IRS990/TotalAssetsGrp/EOYAmt0826817
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt050044
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017978
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt045851
IRS990/TotalFunctionalExpensesGrp/TotalAmt063829
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0833172
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0826817
IRS990/TotalProgramServiceExpensesAmt045851
IRS990/TotalReportableCompFromOrgAmt05000
IRS990/TotalRevenueGrp/ExclusionAmt08703
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02065
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt077072
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0833172
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0826817
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0833172
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0826817
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015 WESTMINSTER COURT
IRS990/USAddress/CityNm0HENDERSONVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028739
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE BIDDIX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08286945149
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE SUMMIT FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0581727959
ReturnHeader/Filer/PhoneNum08286945149
ReturnHeader/Filer/USAddress/AddressLine1Txt015 WESTMINSTER COURT
ReturnHeader/Filer/USAddress/CityNm0HENDERSONVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028739
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043729830
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARLAND & ANDERSEN INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 179
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HENDERSONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028793
ReturnHeader/PreparerPersonGrp/PhoneNum08286922583
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD G CARLAND CPA
ReturnHeader/ReturnTs02016-05-04T09:23:52-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$826,817
Liabilities
$0
Net assets
$826,817
Revenue
$77,072
Expenses
$63,829
Net income
$13,243
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