Civic Intelligence

Summit Impact a Nonprofit Corporation

990 • Fiscal year 2023 • EIN 85-2770209

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 04, 2024

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

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

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

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

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

Net Margin

1st percentile

-533%

Higher net margin than 1% of similar nonprofits.

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

Top Officer Pay

87th percentile

$175,464

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 141.3% of source-year revenue.

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

Asset Growth

4th percentile

-31%

Faster asset growth than 4% of similar nonprofits.

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

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

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

Assets

Down

$1,455,155

Down $664,345 (-31%) from 2022

Net Assets

Down

$1,441,169

Down $662,092 (-31%) from 2022

Liabilities

Down

$13,986

Down $2,253 (-14%) from 2022

Revenue

Down

$124,138

Down $2,941,758 (-96%) from 2022

Expenses

Down

$786,230

Down $177,878 (-18%) from 2022

Net Income

Down

-$662,092

Down $2,763,880 (-132%) from 2022

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

2023

Assets$1,455,155
Liabilities$13,986
Net Assets$1,441,169

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

2023

Revenue$124,138
Expenses$786,230
Net Income-$662,092
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.0
Gross Receipts
$124,138
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$2,103,261$1,441,169▼ $662,092
Cash and Non-Interest-Bearing Accounts$1,161,246$976,274▼ $184,972
Pledges and Grants Receivable$957,763$478,881▼ $478,882
Prepaid Expenses and Deferred Charges$491--
Total Assets$2,119,500$1,455,155▼ $664,345
Liabilities
Accounts Payable and Accrued Expenses$16,239$13,986▼ $2,253
Total Liabilities$16,239$13,986▼ $2,253
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,103,261$1,441,169▼ $662,092
Total Liabilities and Net Assets / Fund Balance$2,119,500$1,455,155▼ $664,345
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shira AbramowitzExecutive DiFT$153,600$21,864$175,464
Shira AbramowitzExecutive Director-$150,000$25,464$175,464

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$124,038
Program Service Revenue
$100
Investment Income
$0
Other Revenue
$0
All Other Contributions
$124,038
Change in Net Assets
$-662,092

Audited Revenue Reconciliation

Revenue per Audited Statements
$124,138
Total Revenue per Audited Statements
$124,138
Total Revenue per Form 990
$124,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$548,309
Other Expenses$237,921
Total Fundraising Expense$36,857
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$336,853$12,847$19,285$368,985
Current Officers, Directors, Trustees, and Key Employees$131,085$15,010$7,505$153,600
Fees for Services Other$63,166$48,697$2,583$114,446
Travel$36,331$11,560$7,035$54,926
Fees for Services Accounting-$30,835-$30,835
Payroll Taxes-$25,724-$25,724
Other Expenses$877$5,267$49$5,316
Insurance$195$4,864-$5,059
Occupancy$400$3,736-$4,136
Fees for Services Legal-$1,400-$1,400
Total Functional Expenses$584,066$165,307$36,857$786,230

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$786,230
Total Expenses per Audited Statements$786,230
Total Expenses per Form 990$786,230
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
Nick Kislinger
Title
Executive Director
Phone
6192590740
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shira Abramowitz
Formed
2020
Legal Domicile
Ut
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Firm
Fiondella Milone & Lasaracina Llp
Address
300 WINDING BROOK DR STE 1, GLASTONBURY, CT 06033
Preparer
Amber D Tucker
Phone
8606573651
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 58,106 48,378 2,583 fees 5,060 319 0 total 63,166 48,697 2,583

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is a nonprofit organization and is exempt from income taxes under section 501(c)(3) of the internal revenue code. The organization is classified by the internal revenue service as a public charity. Accounting principles gaap require plan management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not will not be sustained upon examination by the internal revenue service. Management has analyzed tax positions taken by the organization, and has concluded that as of december 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. The organizations informational tax filings are generally subject to examination by the internal revenue service (irs) and relevant state agencies for three years from the later of the due date of the return or the date the return is actually filed.

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IRS990/ProgSrvcAccomActy2Grp/Desc0SUMMIT IMPACT COMMUNITY (SIC) SIC INCLUDES PROGRAMS FOR FELLOWS ALUMNI, MENTORS, SUPPORTERS AND ENGAGED SUMMIT COMMUNITY MEMBERS. PROGRAMS FOCUS ON THREE CORE ELEMENTS: (1) COMMUNITY CONNECTION; (2) NETWORK ACTIVATION; AND (3) REFLECTIVE LEARNING.
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IRS990/PYSalariesCompEmpBnftPaidAmt0537245
IRS990/PYTotalExpensesAmt0964108
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0827759
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04306598
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IRS990ScheduleA/PublicSupportTotal170Amt01149736
IRS990ScheduleA/SubstantialContributorsTotAmt03156862
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0289800
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04306598
IRS990ScheduleA/TotalSupportAmt04306598
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS A PUBLIC CHARITY. ACCOUNTING PRINCIPLES GAAP REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WILL NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. THE ORGANIZATIONS INFORMATIONAL TAX FILINGS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) AND RELEVANT STATE AGENCIES FOR THREE YEARS FROM THE LATER OF THE DUE DATE OF THE RETURN OR THE DATE THE RETURN IS ACTUALLY FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt0124138
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SHIRA ABRAMOWITZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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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 58,106 48,378 2,583 FEES 5,060 319 0 TOTAL 63,166 48,697 2,583
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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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/USAddress/AddressLine1Txt06755 MIRA MESA BLVD SUITE 123-362
IRS990/USAddress/CityNm0SAN DIEGO
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-04
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061648707
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FIONDELLA MILONE & LASARACINA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0300 WINDING BROOK DR STE 1

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