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Nonprofiteer
← SUMMIT54

Form 990 for tax year 2023

Filed by SUMMIT54.

Totals

Total revenue
$1,060,177
Total expenses
$922,379
Contributions and grants received
$1,042,826
Grants paid
$704,025
Program service revenue
$0
Investment income
$17,351
Other revenue
$0
Total assets, end of year
$1,556,830
Total liabilities, end of year
$1,650
Net assets or fund balances, end of year
$1,555,180
Program services expenses (Part IX)
$873,889
Management and general expenses
$48,490
Fundraising expenses
$0
Program service expenses (Part III)
$873,889

Program services were 94.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $172,700

  • 1f · All other contributions, gifts and grants

    $870,126

  • 3 · Investment income

    total $17,351 · excluded $17,351

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $704,025 · program services $704,025

  • 10 · Payroll taxes

    total $167 · program services $167

  • 11c · Fees: accounting

    total $32,600 · management and general $32,600

  • 11g · Fees: other

    total $123,964 · program services $123,964

  • 12 · Advertising and promotion

    total $16,869 · program services $12,483 · management and general $4,386

  • 13 · Office expenses

    total $6,061 · management and general $6,061

  • 23 · Insurance

    total $1,345 · management and general $1,345

  • 24a · Other expenses: EVENTS

    total $18,035 · program services $14,887 · management and general $3,148

  • 24b · Other expenses: RECRUITMENT

    total $15,803 · program services $15,803

  • 24c · Other expenses: SUMMER FOOD SERVICE

    total $2,560 · program services $2,560

  • 24d · Other expenses: MISCELLANEOUS

    total $950 · management and general $950

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $437,678 · end of year $225,354

  • 2 · Savings and temporary cash investments

    beginning of year $904,298 · end of year $1,014,112

  • 3 · Pledges and grants receivable

    beginning of year $65,000 · end of year $317,364

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,406

  • 17 · Accounts payable and accrued expenses

    end of year $1,650

  • 27 · Net assets without donor restrictions

    beginning of year $1,394,286 · end of year $1,555,180

  • 28 · Net assets with donor restrictions

    beginning of year $23,096

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO IMPROVE COLORADO'S ECONOMY AND SOCIETY THROUGH EFFECTIVE, EFFICIENT, AND ACCOUNTABLE INVESTMENTS IN EDUCATION.

  • SUMMER ADVANTAGE USA: SUMMIT54 CONTINUED ITS PARTNERSHIP WITH SUMMER ADVANTAGE USA TO COMBAT SUMMER LEARNING LOSS. THROUGH A 5-WEEK SUMMER PROGRAM INCLUDING RIGOROUS ACADEMIC INSTRUCTION, PHYSICAL FITNESS, ENRICHMENT PROGRAMS, AND EXTRA-CURRICULAR ACTIVITIES, STUDENTS GAIN AN AVERAGE OF 2.5 MONTHS IN BOTH MATH AND READING SKILLS. THIS UNIQUE, FREE PROGRAM - BASED ON EXTENSIVE NATIONAL RESEARCH - ALLOWS STUDENTS TO RAISE THEIR ACHIEVEMENT, BECOME HEALTHIER AND MORE PHYSICALLY FIT, IMPROVE THEIR SELF-ESTEEM, AND RETURN TO SCHOOL BETTER PREPARED TO SUCCEED ACADEMICALLY, WITH STRONGER MINDS AND BODIES. SUMMIT54'S SUMMER ADVANTAGE PROGRAM SERVES 550 STUDENTS ANNUALLY.

    Expenses $761,098 · Grants $704,025

  • IN 2020, THE ORGANIZATION CREATED A NEW OUTDOOR TUTORING MODEL ENABLING SMALL GROUPS OF ELEMENTARY STUDENTS TO ENHANCE THEIR ACADEMIC LEARNING DURING SCHOOL CLOSURES DUE TO THE COVID-19 PANDEMIC. TODAY, IN PARTNERSHIP WITH ROARING FORK SCHOOL DISTRICT, SUMMIT54 PROVIDES FREE IN-CLASS TUTORING THROUGHOUT THE SCHOOL YEAR TO HUNDREDS OF STUDENTS ANNUALLY. STUDENTS ARE SELECTED BASED ON NEED AND MONITORED FOR ACADEMIC GROWTH THROUGH EXISTING MEASURES.

    Expenses $112,791

As filed on the 2023 return.

Listed in Part VII

  • Terri Caine

    CHAIR

    Total calculated
    $0
    Hours/week
    30

  • Fred Lodge

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Richard Vossler

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Ron Olsen

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Romina Chissum Lagos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gretchen Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Soledad Hurst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Estela Lopez Gudino

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Solondz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
3 March 2024
IRS schema version
2023v5.0
Source object
202440959349301214

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