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Nonprofiteer
← COLLEGE SUMMIT INC

Form 990 for tax year 2023

Filed by COLLEGE SUMMIT INC.

Totals

Total revenue
$2,739,665
Total expenses
$5,942,306
Contributions and grants received
$1,048,845
Grants paid
$0
Program service revenue
$1,118,160
Investment income
$279,438
Other revenue
$293,222
Total assets, end of year
$11,751,729
Total liabilities, end of year
$2,103,577
Net assets or fund balances, end of year
$9,648,152
Program services expenses (Part IX)
$2,877,281
Management and general expenses
$2,503,956
Fundraising expenses
$561,069
Program service expenses (Part III)
$2,877,281

Program services were 48.4% 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.

  • 1f · All other contributions, gifts and grants

    $1,048,845

  • 2a · Program service revenue: AGENCY AND SCHOOL FEES

    total $1,118,160 · related or exempt $1,118,160

  • 3 · Investment income

    total $279,438 · excluded $279,438

  • 6a · Gross rents

    real property $276,560

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $276,560

  • 6d · Net rental income or loss

    total $276,560 · excluded $276,560

  • 11a · Other revenue: OTHER INCOME

    total $16,662 · excluded $16,662

  • 11e · Other revenue, total

    $16,662

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $823,256 · program services $455,699 · management and general $268,755 · fundraising $98,802

  • 7 · Other salaries and wages

    total $1,790,369 · program services $701,287 · management and general $865,479 · fundraising $223,603

  • 8 · Pension plan contributions

    total $41,061 · program services $14,106 · management and general $21,611 · fundraising $5,344

  • 9 · Other employee benefits

    total $224,434 · program services $92,758 · management and general $102,384 · fundraising $29,292

  • 10 · Payroll taxes

    total $184,642 · program services $81,053 · management and general $80,691 · fundraising $22,898

  • 11b · Fees: legal

    total $54,101 · management and general $54,101

  • 11c · Fees: accounting

    total $67,617 · management and general $67,617

  • 11g · Fees: other

    total $464,569 · program services $241,061 · management and general $98,708 · fundraising $124,800

  • 12 · Advertising and promotion

    total $29,393 · management and general $29,393

  • 13 · Office expenses

    total $245,423 · program services $171,970 · management and general $71,822 · fundraising $1,631

  • 14 · Information technology

    total $267,707 · program services $12,117 · management and general $249,273 · fundraising $6,317

  • 16 · Occupancy

    total $313,067 · management and general $313,067

  • 17 · Travel

    total $773,693 · program services $619,326 · management and general $118,471 · fundraising $35,896

  • 20 · Interest

    total $3,914 · management and general $3,914

  • 22 · Depreciation, depletion and amortization

    total $73,451 · management and general $73,451

  • 23 · Insurance

    total $56,481 · program services $1,599 · management and general $54,882

  • 24a · Other expenses: COLLEGE HOSTING/CATER

    total $467,667 · program services $428,735 · management and general $27,580 · fundraising $11,352

  • 24b · Other expenses: AWARDS & HONORARIA

    total $46,736 · program services $42,845 · management and general $2,757 · fundraising $1,134

  • 24c · Other expenses: BAD DEBT EXPENSES

    total $14,725 · program services $14,725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500,581 · end of year $928,592

  • 2 · Savings and temporary cash investments

    beginning of year $7,009,626 · end of year $5,016,239

  • 3 · Pledges and grants receivable

    beginning of year $5,538,372 · end of year $3,721,514

  • 4 · Accounts receivable

    beginning of year $397,688 · end of year $459,002

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,744 · end of year $103,007

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

    $852,690

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

    $590,886

  • 10c · Land, buildings and equipment, net

    beginning of year $311,598 · end of year $261,804

  • 15 · Other assets

    beginning of year $1,496,667 · end of year $1,261,571

  • 17 · Accounts payable and accrued expenses

    beginning of year $270,846 · end of year $184,667

  • 19 · Deferred revenue

    beginning of year $56,378 · end of year $87,634

  • 24 · Unsecured notes and loans payable

    beginning of year $152,575 · end of year $148,758

  • 25 · Other liabilities

    beginning of year $1,987,870 · end of year $1,682,518

  • 27 · Net assets without donor restrictions

    beginning of year $7,149,595 · end of year $5,875,803

  • 28 · Net assets with donor restrictions

    beginning of year $5,674,012 · end of year $3,772,349

Mission and programs · 2023

Mission

COLLEGE SUMMIT, INC. D/B/A PEERFORWARD (PEERFORWARD)'S MISSION IS TO UNLEASH THE POWER OF POSITIVE PEER INFLUENCE TO TRANSFORM THE LIVES OF YOUTH LIVING IN LOW-INCOME COMMUNITIES BY CONNECTING THEM TO COLLEGE AND CAREERS. IN LOW-INCOME COMMUNITIES ACROSS AMERICA, PEERFORWARD CREATES A CORPS OF HIGH SCHOOL STUDENTS WHO LEAD THEIR PEERS TO AND THROUGH COLLEGE.

Activities or mission (Part I)

PEERFORWARD TRANSFORMS THE LIVES OF LOW-INCOME YOUTH BY CONNECTING THEM TO COLLEGE AND CAREER.

  • PEERFORWARD - THIS PROGRAM TRAINS INFLUENTIAL HIGH SCHOOL STUDENTS TO BUILD A COLLEGE-GOING CULTURE BY PERSUADING AND COACHING THEIR CLASSMATES AND FRIENDS THROUGH THE COLLEGE ADMISSIONS PROCESS. THESE STUDENTS ARE KNOWN AS PEER LEADERS, AND THEY ARE TRAINING IN POWERFUL SUMMER WORKSHOPS AND SCHOOL-YEAR TRAINING SESSION FOCUSING ON THREE MAJOR CAMPAIGNS SURROUNDING EARLY FAFSA FILING, APPLYING TO THREE OR MORE POSTSECONDARY INSTITUTIONS AND CONNECTING CAREER WITH ACADEMIC CHOICES AND PLANNING.

    Expenses $2,773,452 · Revenue $1,118,160

  • INNOVATION - THIS PROGRAM DESIGNS AND EXPLORES NEW WAYS TO HELP ALL STUDENTS IN LOW-INCOME COMMUNITIES NAVIGATE THE COLLEGE-GOING PROCESS BY COLLABORATING WITH GOVERNMENT, TECHNOLOGY COMPANIES, BUSINESSES, FOUNDATIONS AND POLICY ORGANIZATIONS. IT CREATES NEW WAYS TO REACH STUDENTS, SUCH AS THE DEVELOPMENT OF MOBILE APPLICATIONS THAT GUIDE STUDENTS AND FAMILIES THROUGH THE COLLEGE ACCESS PROCESS AND SUPPORT PROGRAM ALUMNI BY PROVIDING INFORMATION AND ENCOURAGEMENT TO STAY ON TRACK WHILE IN COLLEGE.

    Expenses $103,829

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gary Z Linnen

    CEO

    Total calculated
    $332,709
    From this org
    $313,741
    From related orgs
    $0
    Other
    $18,968
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,741
    Bonus
    $45,000
    Other
    $0
    Deferred
    $11,067
    Nontaxable benefits
    $7,901
    Filer's total
    $332,709

  • Renee Tribbett

    SECRETARY/MD OF OPERATIONS

    Total calculated
    $136,902
    From this org
    $123,041
    From related orgs
    $0
    Other
    $13,861
    Hours/week
    40

  • Nicholas M Florio

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ramsey Walker

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Boris Bershteyn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Billy Butcher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Howard Byck

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Karin Goldmark

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Grasty

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joshua Greenwald

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Amanda Hale

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Timothy Hoeffner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Aadon Penny

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dionne Rogers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jb Schramm

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dana Warren

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Frank S Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Raquel Figueroa

    MD OF PROGRAM & INNOVATION

    Total calculated
    $162,004
    From this org
    $144,370
    From related orgs
    $0
    Other
    $17,634
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,370
    Bonus
    $0
    Other
    $0
    Deferred
    $6,050
    Nontaxable benefits
    $11,584
    Filer's total
    $162,004

  • Shyla Ingram

    DIRECTOR OF FINANCE

    Total calculated
    $99,017
    From this org
    $91,584
    From related orgs
    $0
    Other
    $7,433
    Hours/week
    40

  • Reagan Walker

    MD OF DEVELOPMENT

    Total calculated
    $147,501
    From this org
    $128,977
    From related orgs
    $0
    Other
    $18,524
    Hours/week
    40

  • Julie Cipriani

    MD OF MARKETING & CREATIVE SERVICES

    Total calculated
    $131,447
    From this org
    $117,690
    From related orgs
    $0
    Other
    $13,757
    Hours/week
    40

  • Christopher Shires

    DIRECTOR, STRATEGIC PARTNERSHIPS

    Total calculated
    $118,262
    From this org
    $106,056
    From related orgs
    $0
    Other
    $12,206
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2023, NON-FIXED DISCRETIONARY BONUSES WERE PAID TO GARY Z. LINNEN, CEO, AND SHYLA INGRAM, MANAGING DIRECTOR OF FINANCE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
11 March 2025
IRS schema version
2023v6.0
Source object
202500719349301500

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