Form 990 for tax year 2023
Filed by SUMMIT CHARTER SCHOOL FOUNDATION INC.
Totals
- Total revenue
- $4,227,148
- Total expenses
- $1,223,574
- Contributions and grants received
- $4,114,441
- Grants paid
- $714,447
- Program service revenue
- $0
- Investment income
- $79,066
- Other revenue
- $33,641
- Total assets, end of year
- $18,339,201
- Total liabilities, end of year
- $1,534,570
- Net assets or fund balances, end of year
- $16,804,631
- Program services expenses (Part IX)
- $1,033,579
- Management and general expenses
- $79,466
- Fundraising expenses
- $110,529
- Program service expenses (Part III)
- $1,033,579
Program services were 84.5% 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
$4,114,441
-
1g · Noncash contributions included above
$352,137
-
3 · Investment income
total $70,100 · excluded $70,100
-
7a · Gross sales of assets other than inventory
securities $8,966
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $8,966
-
7d · Net gain or loss
total $8,966 · excluded $8,966
-
8a · Fundraising events: gross income
$33,056
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $33,056 · excluded $33,056
-
11a · Other revenue: Other income
total $585 · excluded $585
-
11e · Other revenue, total
$585
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $642,008 · program services $642,008
-
2 · Grants to domestic individuals
total $72,439 · program services $72,439
-
11c · Fees: accounting
total $27,838 · management and general $27,838
-
11g · Fees: other
total $5,699 · management and general $5,699
-
12 · Advertising and promotion
total $2,243 · management and general $2,243
-
13 · Office expenses
total $20,374 · management and general $4,660 · fundraising $15,714
-
16 · Occupancy
total $1,470 · management and general $1,470
-
22 · Depreciation, depletion and amortization
total $301,215 · program services $301,215
-
23 · Insurance
total $23,254 · program services $11,627 · management and general $11,627
-
24a · Other expenses: Fundraising expense
total $84,992 · fundraising $84,992
-
24b · Other expenses: Charitable donations
total $10,342 · management and general $519 · fundraising $9,823
-
24c · Other expenses: Meals
total $9,888 · management and general $9,888
-
24d · Other expenses: Bank fees
total $8,228 · management and general $8,228
-
24e · All other expenses
total $13,584 · program services $6,290 · management and general $7,294
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,902,224 · end of year $227,784
-
2 · Savings and temporary cash investments
beginning of year $184,741 · end of year $422,449
-
3 · Pledges and grants receivable
beginning of year $1,055,000 · end of year $1,309,634
-
4 · Accounts receivable
beginning of year $13,015 · end of year $62,967
-
10a · Land, buildings and equipment: cost or other basis
$19,358,946
-
10b · Land, buildings and equipment: accumulated depreciation
$3,816,502
-
10c · Land, buildings and equipment, net
beginning of year $15,573,180 · end of year $15,542,444
-
11 · Investments: publicly traded securities
beginning of year $753,744 · end of year $773,923
-
17 · Accounts payable and accrued expenses
beginning of year $5,724,489 · end of year $1,534,570
-
27 · Net assets without donor restrictions
beginning of year $10,694,111 · end of year $14,522,114
-
28 · Net assets with donor restrictions
beginning of year $3,063,304 · end of year $2,282,517
Mission and programs · 2023
Mission
Support Organization-School
Activities or mission (Part I)
Support Organization - School
-
Support for Charter School. The organization raised money to purchase the building, furnishings and equipment
Expenses $1,033,579 · Grants $714,447
As filed on the 2023 return.
Listed in Part VII
-
Jennings Sarah
Chair
- Total calculated
- $0
- Hours/week
- 2
-
Dunn Denice
Vice-Chair
- Total calculated
- $0
- Hours/week
- 2
-
Hunter Rob
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Stewart Debi
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Bates Thomas
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Coleman Gordon
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Dawkins Terry
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Foster Patch
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Hudson Andrew
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Kenfield Mitch
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Placko Roman
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Snoey Carrie
Voting member
- Total calculated
- $0
- Hours/week
- 1
-
Stewart Taylor
Voting member
- Total calculated
- $0
- Hours/week
- 1
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
-
$642,008
Operations
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 June 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531699349301538
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