Civic Intelligence

Lake Summit Foundation Inc

990 • Fiscal year 2017 • EIN 58-1727959

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 05, 2018

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

26th percentile

0.00x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

26th percentile

0.00x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

93rd percentile

54%

Higher net margin than 93% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

51st percentile

$5,000

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

69th percentile

13%

Faster asset growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

78th percentile

30%

Faster revenue growth than 78% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$984,817

Up $110,730 (+13%) from 2016

Net Assets

Up

$984,817

Up $110,730 (+13%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin93rd percentile

Revenue

Up

$86,966

Up $20,249 (+30%) from 2016

Expenses

Up

$40,059

Up $912 (+2.3%) from 2016

Net Income

Up

$46,907

Up $19,337 (+70%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2017

Assets$984,817
Liabilities$0
Net Assets$984,817
Open 2017 Filing

Operations Trend

Revenue Growth78th 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

2017

Revenue$86,966
Expenses$40,059
Net Income$46,907
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 5, 2018
Return Version
2017v2.2
Gross Receipts
$95,398
Mission and Program Overview

Mission

Contributions for education and conservation, operate public park.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$550,375$616,496▲ $66,121
Land, Buildings, and Equipment, Net$293,796$290,350▼ $3,446
Cash and Non-Interest-Bearing Accounts$29,916$77,971▲ $48,055
Total Assets$874,087$984,817▲ $110,730
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$874,087$984,817▲ $110,730
Total Net Assets Fund Balance$874,087$984,817▲ $110,730
Total Liabilities and Net Assets / Fund Balance$874,087$984,817▲ $110,730

Asset Categories

AssetBook ValueDepreciationBasis
Land$281,561-$281,561
Leasehold Improvements$8,789$30,727$39,516
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Joyce BiddixSecretary/trPT$5,000$5,000

Board Members and Trustees

NameTitle
Scott MontgomeryPresident
Ann PouchDirector
Bill CokerDirector
Harriet GoldsmithDirector
Kitsy BabbDirector
Mary ArnettDirector
Sandra CannonDirector
Frank D Bell JrLifetime Mem
Katie Miller-grantLifetime Mem
Walter Montgomery JrLifetime Mem
Revenue and Support

Revenue Composition

Contributions and Grants
$51,385
Program Service Revenue
$0
Investment Income
$8,123
Other Revenue
$27,458
All Other Contributions
$51,385
Change in Net Assets
$46,907
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$40,059
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$5,239$5,000-$10,239
Fees for Service Investment Mgmnt Fees-$5,825-$5,825
Depreciation Depletion$3,447--$3,447
Conferences and Meetings-$3,077-$3,077
Insurance$2,936--$2,936
Office Expenses$2,469--$2,469
Fees for Services Accounting-$1,500-$1,500
Other Expenses$805--$805
All Other Expenses$420$198-$618
Total Functional Expenses$24,459$15,600$0$40,059
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$26,227
Fundraising Direct Expenses$4,750
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$21,175$21,175$500$20,675
Total Events$21,175$21,175$500$20,675
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
2018-03-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Biddix
Formed
2008
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
5

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 5,239 0 0 total 5,239 5,000 0”

Form 990, Part XI, Line 9

“Unrealized gain on investments 63,823”

Raw XML Appendix383 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/TotalCalendarYear170Grp/CurrentTaxYearAmt051385
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt058443
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt050044
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt056504
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt045872
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0262248
IRS990ScheduleA/TotalSupportAmt0310777
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0281561
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0281561
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08789
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt030727
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt039516
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0290350
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0500
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt021175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt021175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt021175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt021175
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt020675
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0500
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0500
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 5,239 0 0 TOTAL 5,239 5,000 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UNREALIZED GAIN ON INVESTMENTS 63,823
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/TotalAssetsBOYAmt0874087
IRS990/TotalAssetsEOYAmt0984817
IRS990/TotalAssetsGrp/BOYAmt0874087
IRS990/TotalAssetsGrp/EOYAmt0984817
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt051385
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015600
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt024459
IRS990/TotalFunctionalExpensesGrp/TotalAmt040059
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0874087
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0984817
IRS990/TotalProgramServiceExpensesAmt024459
IRS990/TotalReportableCompFromOrgAmt05000
IRS990/TotalRevenueGrp/ExclusionAmt08123
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05981
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt086966
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0874087
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0984817
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0874087
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0984817
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015 WESTMINSTER COURT
IRS990/USAddress/CityNm0HENDERSONVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028739
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE BIDDIX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08286945149
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-05
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0EC3CFB9FF873EC89FAAF1F420748751FA338FCC8
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0809B74AE8DEA3E834F081DCB3170EB269EBEFB14
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-03-17
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:05:40
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/PreparationDt02018-03-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD G CARLAND CPA
ReturnHeader/ReturnTs02018-03-17T10:05:40-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$984,817
Liabilities
$0
Net assets
$984,817
Revenue
$86,966
Expenses
$40,059
Net income
$46,907
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