Civic Intelligence

Summit Classical Charter School Inc.

990 • Fiscal year 2022 • EIN 82-5507072

Jul 01, 2021 to Jun 30, 2022 • Filed on Aug 17, 2023

Organization ProfileWWW.SUMMITCLASSICALSCHOOL.COM
Accounts PayableAnderson, SC 29622

(864) 977-4988

Siviq Scores

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

Liabilities / Assets

94th percentile

0.99x

Higher debt load relative to assets than 94% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

0.83x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

15th percentile

-18%

Higher net margin than 15% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

85th percentile

37%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

20th percentile

-17%

Faster revenue growth than 20% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$979,204

Up $266,175 (+37%) from 2021

Net Assets

Down

$11,648

Down $210,651 (-95%) from 2021

Liabilities

Up

$967,556

Up $476,826 (+97%) from 2021

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin15th percentile

Revenue

Down

$1,167,806

Down $247,334 (-17%) from 2021

Expenses

Up

$1,378,457

Up $58,938 (+4.5%) from 2021

Net Income

Down

-$210,651

Down $306,272 (-320%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$1.0M$500K$0-$500KAssets 2018: $1Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $60,752Liabilities 2019: $64,727Net Assets 2019: -$3,9752019Assets 2020: $345,424Liabilities 2020: $218,746Net Assets 2020: $126,6782020Assets 2021: $713,029Liabilities 2021: $490,730Net Assets 2021: $222,2992021Assets 2022: $979,204Liabilities 2022: $967,556Net Assets 2022: $11,6482022Assets 2023: $769,352Liabilities 2023: $846,635Net Assets 2023: -$77,2832023Assets 2024: $287,819Liabilities 2024: $628,951Net Assets 2024: -$341,1322024

Highlighted filing

2022

Assets$979,204
Liabilities$967,556
Net Assets$11,648
Open 2022 Filing

Operations Trend

Revenue Growth20th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $215,077Expenses 2019: $209,327Net Income 2019: $5,7502019Revenue 2020: $968,844Expenses 2020: $844,369Net Income 2020: $124,4752020Revenue 2021: $1,415,140Expenses 2021: $1,319,519Net Income 2021: $95,6212021Revenue 2022: $1,167,806Expenses 2022: $1,378,457Net Income 2022: -$210,6512022Revenue 2023: $1,488,424Expenses 2023: $1,577,355Net Income 2023: -$88,9312023Revenue 2024: $1,149,488Expenses 2024: $1,413,339Net Income 2024: -$263,8512024

Highlighted filing

2022

Revenue$1,167,806
Expenses$1,378,457
Net Income-$210,651
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Aug 17, 2023
Return Version
2021v4.0
Gross Receipts
$1,167,806
Mission and Program Overview

Mission

The mission of summit classical charter school (sccs) is to cultivate a learning environment in clinton, south carolina that produces model citizens who embrace ongoing achievement in education and service. Sccs strives to create a regional model for establishing a school climate that fosters the values of classical education to support the growth and development of leadership-caliber students. Sccs intends to integrate classical literature, latin, and rhetorical arts into the study of existing subjects. The development of the skills required to master these demanding disciplines advances students that think with order, depth, and complexity beyond the educational environment and into the modern marketplace.

The mission of summit classical charter school is to cultivate a learning environment in clinton, south carolina that produces model citizens who embrace ongoing achievement in education and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$442,597$491,157▲ $48,560
Cash and Non-Interest-Bearing Accounts$183,821$84,763▼ $99,058
Prepaid Expenses and Deferred Charges$24,611$17,999▼ $6,612
Rtn Earn Endowment Incm Other Fnds$222,299$11,648▼ $210,651
Total Assets$713,029$979,204▲ $266,175
Other Assets Total$62,000$385,285▲ $323,285
Liabilities
Accounts Payable and Accrued Expenses$78,232$382,991▲ $304,759
Unsecured Notes Loans Payable$393,693$293,693▼ $100,000
Other Liabilities$11,333$289,432▲ $278,099
Deferred Revenue$7,472$1,440▼ $6,032
Total Liabilities$490,730$967,556▲ $476,826
Net Assets / Fund Balance
Total Net Assets Fund Balance$222,299$11,648▼ $210,651
Total Liabilities and Net Assets / Fund Balance$713,029$979,204▲ $266,175

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$449,848$92,838$542,686
Equipment$41,309$29,913$71,222
Other Assets Org$875--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
David CarterChair
Benita GrantDirector
Chip GreeneDirector
Isaac MartinDirector
John SuberDirector
Larry HuffDirector
Shauna DonnellyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Reason And Republic LLCManagement1065 E GREENVILLE STREET STE H, Anderson, SC 29621$251,352
Revenue and Support

Revenue Composition

Contributions and Grants
$1,163,909
Program Service Revenue
$3,897
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,457
Change in Net Assets
$-210,651

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,167,806
Total Revenue per Audited Statements
$1,167,806
Total Revenue per Form 990
$1,167,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$720,737
Other Expenses$657,720
Total Fundraising Expense$191
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$546,502$60,083-$606,585
Depreciation Depletion$242,031--$242,031
Fees for Services Management-$157,561-$157,561
Other Employee Benefits$61,836$4,054-$65,890
Fees for Services Other$43,120$12,886-$56,006
Advertising$51,271--$51,271
Payroll Taxes$44,689$3,573-$48,262
Occupancy$32,235--$32,235
Insurance$2,206$15,642-$17,848
Interest$13,057--$13,057
Fees for Services Legal-$11,000-$11,000
Office Expenses$667$8,602-$9,269
Fees for Services Accounting-$6,500-$6,500
Conferences and Meetings$4,014$1,577-$5,591
Information Technology$5,012--$5,012
Travel$887$1,570-$2,457
Other Expenses$6,085$784$191$191
Total Functional Expenses$1,094,434$283,832$191$1,378,457

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,378,457
Total Expenses per Audited Statements$1,378,457
Total Expenses per Form 990$1,378,457
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Lease Obligation - Building$287,853
Due to Other Govt Units$1,579
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
No
Other officer compensation reviewed
No
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

“The school's management function is outsourced to reason and republic, a education management organization. Reason and republic provides operations, marketing, human resources, finance and technology support. The principal of summit, mary green thomason, is considered an employee of reason and republic and had reportable compensation during the tax year of 65,000. Compensation paid to reason and republic is reported in part vii, section b under independent contractors and is reported on the calendar year in that section in accordance with irs instructions. Fiscal year compensation to reason and republic is reported in part ix, line 11a.”

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

“The review of the form 990 is handled by reason and republic as the outsourced management company for the school.”

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

“The conflict of interest policy is reviewed annually by the board members for potential conflicts of interest.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Classical Charter School Inc
EIN
82-5507072
Phone
8649774988
Address
ACCOUNTS PAYABLE, ANDERSON, SC 29622

Signing Officer

Name
Craig Wooten
Title
CFO
Phone
8642000535
Signed
2023-08-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Wooten
Formed
2018
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
21

Preparer

Firm
Greene Finney Cauley Llp
Address
211 E BUTLER RD STE C6, MAULDIN, SC 29662-2170
Preparer
Christopher S Cauley
Phone
8644517381
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Summit classical charter school strives to create a regional model for establishing a school climate that fosters the values of classical education to support the growth and development of leadership-caliber students.”

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt029913
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IRS990ScheduleD/ExpensesSubtotalAmt01378457
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0449848
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt092838
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0542686
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0283198
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1101212
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2875
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET - BUILDING, NET
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER RECEIVABLES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0287853
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11579
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE OBLIGATION - BUILDING
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO OTHER GOVT UNITS
IRS990ScheduleD/RevenueSubtotalAmt01167806
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0491157
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0385285
IRS990ScheduleD/TotalExpensesPerForm990Amt01378457
IRS990ScheduleD/TotalLiabilityAmt0289432
IRS990ScheduleD/TotalRevenuePerForm990Amt01167806
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S POLICY IS LISTED ON ALL PRINTED REGISTRATION FORMS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES A SIGNIFICANT PORTION OF ITS SUPPORT FROM GOVERNMENTAL UNITS INCLUDING A PASS THROUGH AMOUNT FROM THE CHARTER INSTITUTE AT ERSKINE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUMMIT CLASSICAL CHARTER SCHOOL STRIVES TO CREATE A REGIONAL MODEL FOR ESTABLISHING A SCHOOL CLIMATE THAT FOSTERS THE VALUES OF CLASSICAL EDUCATION TO SUPPORT THE GROWTH AND DEVELOPMENT OF LEADERSHIP-CALIBER STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL'S MANAGEMENT FUNCTION IS OUTSOURCED TO REASON AND REPUBLIC, A EDUCATION MANAGEMENT ORGANIZATION. REASON AND REPUBLIC PROVIDES OPERATIONS, MARKETING, HUMAN RESOURCES, FINANCE AND TECHNOLOGY SUPPORT. THE PRINCIPAL OF SUMMIT, MARY GREEN THOMASON, IS CONSIDERED AN EMPLOYEE OF REASON AND REPUBLIC AND HAD REPORTABLE COMPENSATION DURING THE TAX YEAR OF 65,000. COMPENSATION PAID TO REASON AND REPUBLIC IS REPORTED IN PART VII, SECTION B UNDER INDEPENDENT CONTRACTORS AND IS REPORTED ON THE CALENDAR YEAR IN THAT SECTION IN ACCORDANCE WITH IRS INSTRUCTIONS. FISCAL YEAR COMPENSATION TO REASON AND REPUBLIC IS REPORTED IN PART IX, LINE 11A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE REVIEW OF THE FORM 990 IS HANDLED BY REASON AND REPUBLIC AS THE OUTSOURCED MANAGEMENT COMPANY FOR THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD MEMBERS FOR POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TravelGrp/TotalAmt02457
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0393693
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0293693
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01650 E GREENVILLE STREET STE H
IRS990/USAddress/CityNm0ANDERSON
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.SUMMITCLASSICALSCHOOL.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CRAIG WOOTEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum08642000535
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUMMIT CLASSICAL CHARTER SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0825507072
ReturnHeader/Filer/PhoneNum08649774988
ReturnHeader/Filer/USAddress/AddressLine1Txt0ACCOUNTS PAYABLE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0211 E BUTLER RD STE C6
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MAULDIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0296622170
ReturnHeader/PreparerPersonGrp/PhoneNum08644517381
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-17

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$979,204
Liabilities
$967,556
Net assets
$11,648
Revenue
$1,167,806
Expenses
$1,378,457
Net income
-$210,651
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.29$0.63$0.34$1.15$1.41$0.26
2023Detailed filing. Detailed filing data is available for this year.$0.77$0.85$0.08$1.49$1.58$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.97$0.01$1.17$1.38$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.71$0.49$0.22$1.42$1.32$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.35$0.22$0.13$0.97$0.84$0.12
2019Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.00$0.22$0.21$0.01
2018Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00