Civic Intelligence

Summit Classical Academy Inc.

990 • Fiscal year 2023 • EIN 84-3953582

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization Profilesummitclassicalacademy.org

View Organization Page

3031 West 144th AvenueBroomfield, CO 80023

(720) 633-9300

Siviq Scores

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

Liabilities / Assets

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

25th percentile

0.01x

Higher debt load relative to revenue than 25% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

74th percentile

20%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

95th percentile

106%

Faster asset growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

62%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$432,790

Up $222,614 (+106%) from 2022

Net Assets

Up

$424,521

Up $245,821 (+138%) from 2022

Liabilities

Down

$8,269

Down $23,207 (-74%) from 2022

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin74th percentile

Revenue

Up

$1,050,979

Up $402,856 (+62%) from 2022

Expenses

Up

$838,573

Up $314,118 (+60%) from 2022

Net Income

Up

$212,406

Up $88,738 (+72%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$600K$400K$200K$0Assets 2020: $33,158Liabilities 2020: $0Net Assets 2020: $33,1582020Assets 2021: $58,863Liabilities 2021: $4,491Net Assets 2021: $54,3722021Assets 2022: $210,176Liabilities 2022: $31,476Net Assets 2022: $178,7002022Assets 2023: $432,790Liabilities 2023: $8,269Net Assets 2023: $424,5212023Assets 2024: $447,150Liabilities 2024: $16,794Net Assets 2024: $430,3562024

Highlighted filing

2023

Assets$432,790
Liabilities$8,269
Net Assets$424,521
Open 2023 Filing

Operations Trend

Revenue Growth86th percentile

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

$1.5M$1.0M$500K$0Revenue 2020: $83,608Expenses 2020: $50,450Net Income 2020: $33,1582020Revenue 2021: $354,981Expenses 2021: $333,767Net Income 2021: $21,2142021Revenue 2022: $648,123Expenses 2022: $524,455Net Income 2022: $123,6682022Revenue 2023: $1,050,979Expenses 2023: $838,573Net Income 2023: $212,4062023Revenue 2024: $987,063Expenses 2024: $984,391Net Income 2024: $2,6722024

Highlighted filing

2023

Revenue$1,050,979
Expenses$838,573
Net Income$212,406
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$1,050,979
Mission and Program Overview

Mission

We will build community and serve our community by partnering with parents in the education of their children, striving to develop all aspects of the student's potential. We will provide a classical Christian education, a peaceful and inspiring environment, and a high standard of expectations for our students, teachers, and leaders, all for the glory of God. Vision: We aim to produce students who learn continually, listen intently, articulate precisely, love rightly, contend gracefully, and live purposefully for the glory of God and the good of others.

A school dedicated to classical Christian education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$206,758$405,946▲ $199,188
Land, Buildings, and Equipment, Net$0$26,844▲ $26,844
Total Assets$210,176$432,790▲ $222,614
Other Assets Total$3,418$0▼ $3,418
Liabilities
Other Liabilities$31,476$8,269▼ $23,207
Total Liabilities$31,476$8,269▼ $23,207
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$178,700$419,521▲ $240,821
Net Assets With Donor Restrictions$0$5,000▲ $5,000
Total Net Assets Fund Balance$178,700$424,521▲ $245,821
Total Liabilities and Net Assets / Fund Balance$210,176$432,790▲ $222,614

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$26,844$5,756-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jay ModglinChairman
Danette MillerVice-Chairman
Brigette ModglinMember at Large
Mark WrappMember at Large
Micah MillerMember at Large
Revenue and Support

Revenue Composition

Contributions and Grants
$266,640
Program Service Revenue
$784,339
Investment Income
$0
Other Revenue
$0
All Other Contributions
$266,640
Change in Net Assets
$212,406
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$463,630
Other Expenses$374,943
Total Fundraising Expense$15,093
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$345,709$70,300-$416,009
Fees for Services Other$71,351$11,139-$82,490
All Other Expenses$38,784$3,509$9,933$52,226
Payroll Taxes$39,574$8,047-$47,621
Other Expenses$14,924$1,866$1,865$18,655
Office Expenses$12,365$1,545$1,546$15,456
Advertising$9,381$1,173$1,173$11,727
Insurance$6,636$1,350-$7,986
Depreciation Depletion$4,605$575$576$5,756
Travel$1,172$238-$1,410
Total Functional Expenses$717,528$105,952$15,093$838,573
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
Accrued Expenses$8,269
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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, Part VI, Section B, line 11B

“The Form 990 is discussed at the organization's board meeting, comments are solicited from all directors and the document is subsequently filed with the IRS.”

Form 990, Part VI, Section B, line 12C

“The policy is administered and enforced by the Board of Directors. It is reviewd with and signed by all new board members and staff.”

Form 990, Part VI, Section B, line 15

“None of the Board of Directors are paid except the Ex-Officio member, the Head of School. The Head of School's compensation is reviewed and approved by the board annually.”

Form 990, Part VI, Section C, line 19

“Governing documents, conflict of intertest policy and financial statements are available upon requrest.”

Filing and Contact Details

Filer

Filer Name
Summit Classical Academy Inc
EIN
84-3953582
Phone
7206339300
Address
3031 West 144th Avenue, Broomfield, CO 80023

Signing Officer

Name
Jay Modglin
Title
Chairman
Phone
7206339300
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jay Modglin
Formed
2019
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
21
Volunteers
0

Preparer

Firm
Egan Ravarino LLC
Address
562 N OGDEN STREET, DENVER, CO 80218
Preparer
Paul M Egan
Phone
7204102600
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Prior Period Adjustment 33,415.”

Raw XML Appendix356 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/Desc0Summit Classical Academy is a classical Christian school serving the North Denver areas of Colorado. We will build community and serve our community by partnering with parents in the education of their children through Classical Christian EducationClassical EducationThe classical method is tried and true, with its origins dating back to the Greeks. The Romans, recognizing that the Greeks were superior in educating their citizens, adopted this style of teaching for their young Romans. Of course, the modern version of classical education has changed a bit, but the roots reach deep into the Greco-Roman tradition.Classical education keeps in step with the natural developmental stages of children and consists of three phases in the K-12 years, all of which make up the Trivium. The Trivium includes the grammar stage, logic stage, and the rhetoric stage. These stages coincide with the way children learn, so the results of the education not only fit the natural bent of the child, it also provides an environment where students can realize the greatest successes in learning. This educational model fits beautifully with how children grow.Classical Christian education develops children into students who learn continually, listen intently, articulate precisely, love rightly, contend gracefully, and live purposefully for the glory of God and the good of others.Christian EducationThe truth of Scripture, and the very nature of God, is the basis of all knowledge and governs all that is taught. As Scripture is the ultimate authority for our lives, students and teachers alike should live in accordance to its teaching and use it to test all knowledge and experience. It is understood that there is a Truth and God is the revealer of this truth. Whether it is the Pythagorean Theorem, the second law of thermodynamics, Latin conjunctions, or a Shakespearian sonnet, all truth, goodness, and beauty has its origination in God. Since God is the creator of all things, and all knowledge is interconnected, all subjects should be taught as part of an integrated whole.
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IRS990/MissionDesc0We will build community and serve our community by partnering with parents in the education of their children, striving to develop all aspects of the student's potential. We will provide a classical Christian education, a peaceful and inspiring environment, and a high standard of expectations for our students, teachers, and leaders, all for the glory of God. Vision: We aim to produce students who learn continually, listen intently, articulate precisely, love rightly, contend gracefully, and live purposefully for the glory of God and the good of others.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is discussed at the organization's board meeting, comments are solicited from all directors and the document is subsequently filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The policy is administered and enforced by the Board of Directors. It is reviewd with and signed by all new board members and staff.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2None of the Board of Directors are paid except the Ex-Officio member, the Head of School. The Head of School's compensation is reviewed and approved by the board annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents, conflict of intertest policy and financial statements are available upon requrest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Prior Period Adjustment 33,415.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, line 9:
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IRS990/TotalAssetsGrp/EOYAmt0432790
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0266640
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt015093
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0105952
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0717528
IRS990/TotalFunctionalExpensesGrp/TotalAmt0838573
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt031476
IRS990/TotalLiabilitiesEOYAmt08269
IRS990/TotalLiabilitiesGrp/BOYAmt031476
IRS990/TotalLiabilitiesGrp/EOYAmt08269
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0424521
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt0784339
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0784339
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01050979
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0210176
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0432790
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0238
IRS990/TravelGrp/ProgramServicesAmt01172
IRS990/TravelGrp/TotalAmt01410
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03031 West 144th Avenue
IRS990/USAddress/CityNm0Broomfield
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080023
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0summitclassicalacademy.org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jay Modglin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/PhoneNum07206339300
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Summit Classical Academy Inc
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0843953582
ReturnHeader/Filer/PhoneNum07206339300
ReturnHeader/Filer/USAddress/AddressLine1Txt03031 West 144th Avenue
ReturnHeader/Filer/USAddress/CityNm0Broomfield
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080023
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475350447
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EGAN RAVARINO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0562 N OGDEN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DENVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080218
ReturnHeader/PreparerPersonGrp/PhoneNum07204102600
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL M EGAN
ReturnHeader/ReturnTs02024-05-15T12:57:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jay
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Modglin
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$432,790
Liabilities
$8,269
Net assets
$424,521
Revenue
$1,050,979
Expenses
$838,573
Net income
$212,406
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.45$0.02$0.43$0.99$0.98$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.43$0.01$0.42$1.05$0.84$0.21
2022Detailed filing. Detailed filing data is available for this year.$0.21$0.03$0.18$0.65$0.52$0.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.05$0.35$0.33$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.08$0.05$0.03