Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $986,500

• 1f · All other contributions, gifts and grants

  $7,472,993

• 1g · Noncash contributions included above

  $69,006

• 2a · Program service revenue: Summit Conference Reg.

  total $3,652,909 · related or exempt $3,652,909

• 2b · Program service revenue: Summit Semester-Tuitio

  total $607,005 · related or exempt $607,005

• 2f · All other program service revenue

  total $57,652 · related or exempt $57,652

• 3 · Investment income

  total $110,230 · excluded $110,230

• 5 · Royalties

  total $31,837 · excluded $31,837

• 6a · Gross rents

  real property $149,190

• 6b · Less rental expenses

  real property $527,224

• 6c · Rental income or loss

  real property -$378,034

• 6d · Net rental income or loss

  total -$378,034 · excluded -$378,034

• 7a · Gross sales of assets other than inventory

  securities $1,187,805 · other assets $1,641,031

• 7b · Less cost or other basis and sales expenses

  securities $1,207,517 · other assets $1,881,795

• 7c · Gain or loss

  securities -$19,712 · other assets -$240,764

• 7d · Net gain or loss

  total -$260,476 · excluded -$260,476

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $986,500

• 8b · Fundraising events: direct expenses

  $416,707

• 8c · Net income from fundraising events

  total -$416,707 · excluded -$416,707

• 10a · Gross sales of inventory

  $2,053,171

• 10b · Cost of goods sold

  $583,607

• 10c · Net income from sales of inventory

  total $1,469,564 · related or exempt $1,469,564

• 11a · Other revenue: Snow Wolf Lodge

  total $140,755 · unrelated business $140,755

• 11b · Other revenue: Employee Retention Cre

  total $88,950 · excluded $88,950

• 11d · All other revenue

  total $55,580 · excluded $55,580

• 11e · Other revenue, total

  $285,285

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $1,185,026 · program services $1,185,026

• 5 · Compensation of officers, directors and key employees

  total $633,021 · program services $194,107 · management and general $330,304 · fundraising $108,610

• 6 · Compensation of disqualified persons

  total $79,250 · program services $22,999 · fundraising $56,251

• 7 · Other salaries and wages

  total $4,692,614 · program services $3,808,328 · management and general $346,383 · fundraising $537,903

• 8 · Pension plan contributions

  total $112,255 · program services $81,441 · management and general $16,232 · fundraising $14,582

• 9 · Other employee benefits

  total $904,191 · program services $655,990 · management and general $130,747 · fundraising $117,454

• 10 · Payroll taxes

  total $404,073 · program services $293,155 · management and general $58,429 · fundraising $52,489

• 11b · Fees: legal

  total $47,026 · program services $36,868 · management and general $8,841 · fundraising $1,317

• 11c · Fees: accounting

  total $30,995 · management and general $30,995

• 11f · Fees: investment management

  total $13,676 · management and general $13,676

• 11g · Fees: other

  total $638,099 · program services $442,121 · management and general $61,155 · fundraising $134,823

• 12 · Advertising and promotion

  total $1,090,333 · program services $104,312 · management and general $986,021

• 13 · Office expenses

  total $96,541 · program services $68,552 · management and general $8,584 · fundraising $19,405

• 14 · Information technology

  total $489,953 · program services $386,346 · management and general $43,710 · fundraising $59,897

• 16 · Occupancy

  total $389,632 · program services $358,266 · management and general $24,716 · fundraising $6,650

• 17 · Travel

  total $407,532 · program services $240,491 · management and general $47,684 · fundraising $119,357

• 19 · Conferences, conventions and meetings

  total $21,824 · program services $21,666 · management and general $147 · fundraising $11

• 22 · Depreciation, depletion and amortization

  total $446,094 · program services $410,416 · management and general $31,186 · fundraising $4,492

• 23 · Insurance

  total $74,760 · program services $63,973 · management and general $9,550 · fundraising $1,237

• 24a · Other expenses: Summit Sessions

  total $1,511,867 · program services $1,511,867

• 24b · Other expenses: Curriculum Development

  total $263,757 · program services $263,757

• 24c · Other expenses: Postage, printing, ship

  total $136,292 · program services $63,854 · management and general $24,875 · fundraising $47,563

• 24d · Other expenses: Licenses, dues, subscri

  total $45,180 · program services $32,248 · management and general $9,483 · fundraising $3,449

• 24e · All other expenses

  total $220,486 · program services $196,287 · management and general $1,732 · fundraising $22,467

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,505,798 · end of year $2,986,397

• 2 · Savings and temporary cash investments

  beginning of year $1,686,516 · end of year $1,033,952

• 3 · Pledges and grants receivable

  beginning of year $838,014

• 4 · Accounts receivable

  beginning of year $29,047 · end of year $351,332

• 8 · Inventories for sale or use

  beginning of year $227,265 · end of year $304,413

• 9 · Prepaid expenses and deferred charges

  beginning of year $312,982 · end of year $348,254

• 10a · Land, buildings and equipment: cost or other basis

  $12,881,086

• 10b · Land, buildings and equipment: accumulated depreciation

  $3,955,816

• 10c · Land, buildings and equipment, net

  beginning of year $9,064,009 · end of year $8,925,270

• 11 · Investments: publicly traded securities

  beginning of year $2,058,058 · end of year $2,774,057

• 14 · Intangible assets

  beginning of year $152,800 · end of year $114,600

• 15 · Other assets

  beginning of year $271,431

• 17 · Accounts payable and accrued expenses

  beginning of year $698,959 · end of year $823,497

• 19 · Deferred revenue

  beginning of year $205,406 · end of year $633,099

• 25 · Other liabilities

  beginning of year $0 · end of year $355,797

• 27 · Net assets without donor restrictions

  beginning of year $13,857,254 · end of year $13,974,203

• 28 · Net assets with donor restrictions

  beginning of year $1,384,301 · end of year $1,051,679

The filer's explanations (Part III)

Part I, Line 1a

Travel for the President's spouse is included in taxable compensation.

Part I, Line 6

A portion of the bonus paid to Dr. Jeff Myers, President, is calculated based on net income up to a maximum amount established by the board. The bonus also includes amounts awarded for the achievement of targets in areas that include total contributions and number of students participating at end of the year.

Part I, Line 7

The organization made nonfixed payments in the form of discretionary bonuses.