Civic Intelligence

Summit Impact a Nonprofit Corporation

990 • Fiscal year 2022 • EIN 85-2770209

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

6755 Mira Mesa BlvdSan Diego, CA 92121

(619) 259-0740

Siviq Scores

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

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

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

Liabilities / Revenue

23rd percentile

0.01x

Higher debt load relative to revenue than 23% of similar nonprofits.

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

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

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

Top Officer Pay

84th percentile

$152,582

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

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

Asset Growth

98th percentile

315%

Faster asset growth than 98% of similar nonprofits.

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

Revenue Growth

96th percentile

267%

Faster revenue growth than 96% of similar nonprofits.

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

Assets

Up

$2,119,500

Up $1,608,227 (+315%) from 2021

Net Assets

Up

$2,103,261

Up $1,592,451 (+312%) from 2021

Liabilities

Up

$16,239

Up $15,776 (+3407%) from 2021

Revenue

Up

$3,065,896

Up $2,230,296 (+267%) from 2021

Expenses

Up

$964,108

Up $457,006 (+90%) from 2021

Net Income

Up

$2,101,788

Up $1,773,290 (+540%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2021: $511,273Liabilities 2021: $463Net Assets 2021: $510,8102021Assets 2022: $2,119,500Liabilities 2022: $16,239Net Assets 2022: $2,103,2612022Assets 2023: $1,455,155Liabilities 2023: $13,986Net Assets 2023: $1,441,1692023Assets 2024: $516,896Liabilities 2024: $18,163Net Assets 2024: $498,7332024

Highlighted filing

2022

Assets$2,119,500
Liabilities$16,239
Net Assets$2,103,261

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $835,600Expenses 2021: $507,102Net Income 2021: $328,4982021Revenue 2022: $3,065,896Expenses 2022: $964,108Net Income 2022: $2,101,7882022Revenue 2023: $124,138Expenses 2023: $786,230Net Income 2023: -$662,0922023Revenue 2024: $560,000Expenses 2024: $1,023,130Net Income 2024: -$463,1302024

Highlighted filing

2022

Revenue$3,065,896
Expenses$964,108
Net Income$2,101,788
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$3,065,896
Mission and Program Overview

Mission

To drive social good through innovative ecosystems that faciitate collaboration across disciplines. Summit immpact builds ecosystems of innovation around esceptional social impact leaders. By activating the summit community - a network of activists, artists, athletes, entepreneurs, performers, and scientists - we leverage the power of collaboration and crativity to scale impact objectives in specific topic areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$510,810$2,103,261▲ $1,592,451
Cash and Non-Interest-Bearing Accounts$509,799$1,161,246▲ $651,447
Pledges and Grants Receivable-$957,763-
Prepaid Expenses and Deferred Charges$1,474$491▼ $983
Total Assets$511,273$2,119,500▲ $1,608,227
Liabilities
Accounts Payable and Accrued Expenses$463$16,239▲ $15,776
Total Liabilities$463$16,239▲ $15,776
Net Assets / Fund Balance
Total Net Assets Fund Balance$510,810$2,103,261▲ $1,592,451
Total Liabilities and Net Assets / Fund Balance$511,273$2,119,500▲ $1,608,227
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Shira AbramowitzExecutive DiFT$152,582$152,582
Shira AbramowitzExecutive Director-$152,582$152,582

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,065,001
Program Service Revenue
$895
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,065,001
Change in Net Assets
$2,101,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$537,245
Other Expenses$426,863
Total Fundraising Expense$114,751
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$267,681$14,703$75,649$358,033
Travel$178,438$10,639$2,595$191,672
Fees for Services Other$84,834$61,905$6,500$153,239
Current Officers, Directors, Trustees, and Key Employees$106,179$16,396$30,007$152,582
Fees for Services Legal-$29,000-$29,000
Payroll Taxes-$26,630-$26,630
Other Expenses$18,006$1,474-$1,474
Insurance-$982-$982
All Other Expenses-$130-$130
Total Functional Expenses$677,793$171,564$114,751$964,108
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
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

Summit impact's form 990 was prepared by the external accounting firm in collaboration with its financial department. A completed copy of the form is distributed to the full board of directors for its review and comment. Upon approval by the board, the form 990 is electronically filed with the irs.

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

Summit impact established a conflict of interest polocy that governs all officers, board members and employees of the organization. These individuals are required to disclose any potential conflict of interest to the full board of directors prior to engaging in the transaction and /or relationship. The board of directors shall determine by majority vote whether the potential transaction or relatioship implicates a conflict of interest. If a conflict is deemed to exist, the impacted individual will be recused from any deliberation with respect to such contract or transaction and the remaining board members will resolve the conflict in manner that fulfills their fiduciary obligation to the organization. The minutes of the meeting shall reflect the disclosure made, the vote thereon and , when aplicable, the abstention from voting and participation, and wheather a quorum is present.

Form 990, Page 6, Part VI, Line 15A

YES

Form 990, Page 6, Part VI, Line 19

Summit impact makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is, likewise, published on the internet at www.guidestar.org. The organization's governing documents, conflict of interest policy and financial statements are available upon request at management's discretion.

Filing and Contact Details

Filer

Filer Name
Summit Impact
EIN
85-2770209
Phone
6192590740
Address
6755 MIRA MESA BLVD, SAN DIEGO, CA 92121

Signing Officer

Name
Shira Abramowitz
Title
Executive Director
Phone
6192590740
Signed
2023-11-08

Organization Details

Principal Officer
Shira Abramowitz
Formed
2020
Legal Domicile
Ut
Voting Board Members
11
Independent Board Members
11
Employees
4

Preparer

Firm
Fiondella Milone & Lasaracina Llp
Address
350 BEDFORD STREET 2ND FLOOR, STAMFORD, CT 06901
Preparer
Owen W Bregman
Phone
2033254155
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To drive social good through innovative ecosystems that faciitate collaboration across disciplines. Summit immpact builds ecosystems of innovation around esceptional social impact leaders. By activating the summit community - a network of activists, artists, athletes, entepreneurs, performers, and scientists - we leverage the power of collaboration and crativity to scale impact objectives in specific topic areas.

Form 990, Part IX, Line 11G

Outside contractors 84,834 61,614 6,500 fees 0 291 0 total 84,834 61,905 6,500

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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/CurrentTaxYearAmt03065001
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0827759
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0289800
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04182560
IRS990ScheduleA/TotalSupportAmt04182560
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0152582
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SHIRA ABRAMOWITZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0152582
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DRIVE SOCIAL GOOD THROUGH INNOVATIVE ECOSYSTEMS THAT FACIITATE COLLABORATION ACROSS DISCIPLINES. SUMMIT IMMPACT BUILDS ECOSYSTEMS OF INNOVATION AROUND ESCEPTIONAL SOCIAL IMPACT LEADERS. BY ACTIVATING THE SUMMIT COMMUNITY - A NETWORK OF ACTIVISTS, ARTISTS, ATHLETES, ENTEPRENEURS, PERFORMERS, AND SCIENTISTS - WE LEVERAGE THE POWER OF COLLABORATION AND CRATIVITY TO SCALE IMPACT OBJECTIVES IN SPECIFIC TOPIC AREAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SUMMIT IMPACT'S FORM 990 WAS PREPARED BY THE EXTERNAL ACCOUNTING FIRM IN COLLABORATION WITH ITS FINANCIAL DEPARTMENT. A COMPLETED COPY OF THE FORM IS DISTRIBUTED TO THE FULL BOARD OF DIRECTORS FOR ITS REVIEW AND COMMENT. UPON APPROVAL BY THE BOARD, THE FORM 990 IS ELECTRONICALLY FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUMMIT IMPACT ESTABLISHED A CONFLICT OF INTEREST POLOCY THAT GOVERNS ALL OFFICERS, BOARD MEMBERS AND EMPLOYEES OF THE ORGANIZATION. THESE INDIVIDUALS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST TO THE FULL BOARD OF DIRECTORS PRIOR TO ENGAGING IN THE TRANSACTION AND /OR RELATIONSHIP. THE BOARD OF DIRECTORS SHALL DETERMINE BY MAJORITY VOTE WHETHER THE POTENTIAL TRANSACTION OR RELATIOSHIP IMPLICATES A CONFLICT OF INTEREST. IF A CONFLICT IS DEEMED TO EXIST, THE IMPACTED INDIVIDUAL WILL BE RECUSED FROM ANY DELIBERATION WITH RESPECT TO SUCH CONTRACT OR TRANSACTION AND THE REMAINING BOARD MEMBERS WILL RESOLVE THE CONFLICT IN MANNER THAT FULFILLS THEIR FIDUCIARY OBLIGATION TO THE ORGANIZATION. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE, THE VOTE THEREON AND , WHEN APLICABLE, THE ABSTENTION FROM VOTING AND PARTICIPATION, AND WHEATHER A QUORUM IS PRESENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SUMMIT IMPACT MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS, LIKEWISE, PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT MANAGEMENT'S DISCRETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OUTSIDE CONTRACTORS 84,834 61,614 6,500 FEES 0 291 0 TOTAL 84,834 61,905 6,500
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0511273
IRS990/TotalAssetsEOYAmt02119500
IRS990/TotalAssetsGrp/BOYAmt0511273
IRS990/TotalAssetsGrp/EOYAmt02119500
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt03065001
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0114751
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0171564
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0677793
IRS990/TotalFunctionalExpensesGrp/TotalAmt0964108
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0463
IRS990/TotalLiabilitiesEOYAmt016239
IRS990/TotalLiabilitiesGrp/BOYAmt0463
IRS990/TotalLiabilitiesGrp/EOYAmt016239
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0510810
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02103261
IRS990/TotalProgramServiceExpensesAmt0677793
IRS990/TotalProgramServiceRevenueAmt0895
IRS990/TotalReportableCompFromOrgAmt0152582
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0895
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03065896
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0511273
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02119500
IRS990/TravelGrp/FundraisingAmt02595
IRS990/TravelGrp/ManagementAndGeneralAmt010639
IRS990/TravelGrp/ProgramServicesAmt0178438
IRS990/TravelGrp/TotalAmt0191672
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06755 MIRA MESA BLVD SUITE 123-362
IRS990/USAddress/CityNm0SAN DIEGO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092121
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.SUMMITIMPACT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SHIRA ABRAMOWITZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06192590740
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUMMIT IMPACT
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0852770209
ReturnHeader/Filer/PhoneNum06192590740
ReturnHeader/Filer/USAddress/AddressLine1Txt06755 MIRA MESA BLVD
ReturnHeader/Filer/USAddress/CityNm0SAN DIEGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092121
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061648707
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FIONDELLA MILONE & LASARACINA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0350 BEDFORD STREET 2ND FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0STAMFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006901
ReturnHeader/PreparerPersonGrp/PhoneNum02033254155
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OWEN W BREGMAN
ReturnHeader/ReturnTs02023-11-13T08:46:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SHIRA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ABRAMOWITZ
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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