Civic Intelligence

Lake Summit Foundation Inc

990 • Fiscal year 2018 • EIN 58-1727959

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

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

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

51st percentile

$5,000

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

28th percentile

-4.6%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-31%

Faster revenue growth than 10% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$939,226

Down $45,591 (-4.6%) from 2017

Net Assets

Down

$939,226

Down $45,591 (-4.6%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin18th percentile

Revenue

Down

$59,670

Down $27,296 (-31%) from 2017

Expenses

Up

$67,573

Up $27,514 (+69%) from 2017

Net Income

Down

-$7,903

Down $54,810 (-117%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2018

Assets$939,226
Liabilities$0
Net Assets$939,226
Open 2018 Filing

Operations Trend

Revenue Growth10th 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

2018

Revenue$59,670
Expenses$67,573
Net Income-$7,903
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 20, 2019
Return Version
2018v3.1
Gross Receipts
$74,686
Mission and Program Overview

Mission

Contributions for education and conservation, operate public park.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$616,496$472,647▼ $143,849
Land, Buildings, and Equipment, Net$290,350$286,918▼ $3,432
Cash and Non-Interest-Bearing Accounts$77,971$70,048▼ $7,923
Accounts Receivable-$-70-
Total Assets$984,817$939,226▼ $45,591
Other Assets Total-$109,683-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$984,817$939,226▼ $45,591
Total Net Assets Fund Balance$984,817$939,226▼ $45,591
Total Liabilities and Net Assets / Fund Balance$984,817$939,226▼ $45,591

Asset Categories

AssetBook ValueDepreciationBasis
Land$281,561-$281,561
Leasehold Improvements$5,357$34,159$39,516
Other Assets Org$109,683--
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
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
$50,055
Program Service Revenue
$0
Investment Income
$8,915
Other Revenue
$700
All Other Contributions
$50,055
Change in Net Assets
$-7,903
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$67,573
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 Legal-$23,159-$23,159
Fees for Services Other$4,159$5,000-$9,159
Conferences and Meetings-$9,043-$9,043
Fees for Service Investment Mgmnt Fees-$5,392-$5,392
Depreciation Depletion$3,431--$3,431
Fees for Services Accounting-$1,600-$1,600
Insurance$985--$985
Office Expenses$928--$928
Other Expenses$413$6-$6
Total Functional Expenses$23,373$44,200$0$67,573
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,355
Fundraising Direct Expenses$5,000
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
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
2019-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Biddix
Formed
2008
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
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 4,159 0 0 total 4,159 5,000 0”

Form 990, Part XI, Line 9

“Unrealized loss on investments -37,688”

Raw XML Appendix375 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/TotalAmt0266431
IRS990ScheduleA/TotalSupportAmt0309825
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0281561
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0281561
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt05357
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt034159
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt039516
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0109683
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASE DEPOSITS HELD IN ESCROW
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0286918
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0109683
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 4,159 0 0 TOTAL 4,159 5,000 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UNREALIZED LOSS ON INVESTMENTS -37,688
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0984817
IRS990/TotalAssetsEOYAmt0939226
IRS990/TotalAssetsGrp/BOYAmt0984817
IRS990/TotalAssetsGrp/EOYAmt0939226
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt050055
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt044200
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt023373
IRS990/TotalFunctionalExpensesGrp/TotalAmt067573
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0984817
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0939226
IRS990/TotalProgramServiceExpensesAmt023373
IRS990/TotalReportableCompFromOrgAmt05000
IRS990/TotalRevenueGrp/ExclusionAmt08915
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0345
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt059670
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0984817
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0939226
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0984817
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0939226
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015 WESTMINSTER COURT
IRS990/USAddress/CityNm0HENDERSONVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028739
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0LAKESUMMITONLINE.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE BIDDIX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08286945149
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-20
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/AtSubmissionCreationDeviceId01988DFADF70E1C4BCAE76FEA0F45CD39915B1E59
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId074E2F59BAD8C7455383966CBD4B3F2E29783587C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-05-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:12:57
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/PreparationDt02019-05-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD G CARLAND CPA
ReturnHeader/ReturnTs02019-05-24T14:12:57-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$939,226
Liabilities
$0
Net assets
$939,226
Revenue
$59,670
Expenses
$67,573
Net income
-$7,903
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