Summit Academy Charter School FY2020 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2009EducationEIN 26-4243160

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Our mission: Summit Academy Charter School bridges the gap between aspirations and realities by preparing 6th through 12th grade students to gain acceptance to, excel in and graduate from college by using three pillars of success: mastery of core subjects, character building, and community leadership. By engaging students with an academically rigorous, college-preparatory curriculum and supporting them in a community focused on high academic achievement and strong character building, Summit Academy will prepare our young people to participate meaningfully in the greater economy and expand their choices and opportunities.our vision: Summit Academy develops academic excellence, instills character, and cultivates leadership. Our academic program and college preparatory curriculum are structured to accomplish two goals: (1) student acquisition and mastery of basic literacy, numeracy, and writing skills and (2) student application of basic skills to synthesize, analyze, apply, and make infe

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$560K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $116K a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$560K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.5M
Spent
$5.1M
To programs
90%
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$5.5M
FY2020
Revenue by fiscal year
FY2020$5.5M
FY2021$6.0M
FY2022$5.0M
FY2023$4.9M
FY2024$5.7M
FY2025$6.2M
Expenses
$5.1M
FY2020
Expenses by fiscal year
FY2020$5.1M
FY2021$4.5M
FY2022$4.8M
FY2023$5.5M
FY2024$6.2M
FY2025$6.5M
Net assets
$1.6M
FY2020
Net assets by fiscal year
FY2020$1.6M
FY2021$3.1M
FY2022$3.2M
FY2023$2.6M
FY2024$2.2M
FY2025$1.9M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $4.6M Management & general 10% · $505K Fundraising 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $560K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Director of Community Support
$169,345Pt VII · Sec A
Director of Finance and Op
$136,260Pt VII · Sec A
Assistant Principal
$105,300Pt VII · Sec A
Principal Thru 7/20
$95,375Pt VII · Sec A
Principal
$54,030Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Machael Spencer-Edwards’s $204K as Principal is at the 83rd percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Latoya Massey———$108,129$209,450$54,030
Machael Spencer-Edwards$204,091$198,146$193,054———
Natasha Campbell$198,674$193,240$188,556$182,000$169,651$169,345
Samease Handshaw$168,431$160,919$154,499$146,841$134,834$136,260
Tremaine a Price$130,305—————
Termaine a Price—$121,943$116,202———
Edgar Mera————$113,488—
Kim Kisook$112,124$106,508————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Summit Academy Charter School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares middle and high school students for college success through rigorous academics and character development.

Provided by the organization

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1 program · $4.6M · in their own filed words · FY2019
01

The purpose of the school is to prepare students in grades six through twelve for educational success from middle school through college. This will be accomplished through a demanding data driven education based on high standards, structure, and accountability.

$4.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$5.5M
Ln 12
Fees for servicesLn 2g$5.3M
Gifts and grantsLn 1h$232K
Investment incomeLn 3$8
Money outPt IX
$5.1M
Ln 25
Programscol B$4.6M
Managementcol C$505K
Fundraisingcol D$1K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
12
listed · VII A
PaidVII A5
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$232K
Government grantsLn 1e$224K
Noncash giftsLn 1g$21K
Fundraising eventsLn 1c$7K
Fees for servicesLn 2g$5.3M
Investment incomeLn 3$8
Total revenueLn 12$5.5M
Assets in detailPt X, end of year
CashLn 1$2.3M
SavingsLn 2$75K
Cash and savings togetherLn 1–2$2.4M
Land, buildings, equipmentLn 10c$110K
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.1M
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 567
VolunteersI 67
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.5M$2.4M
Land, buildings, equipmentLn 10c$80K$110K
Total assetsLn 16$1.7M$2.7M
LiabilitiesLn 26$544K$1.1M
Net assetsLn 32$1.2M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$535K$318K$217K
Other salaries and wagesLn 7$2.7M$2.6M$80K
Pension plan contributionsLn 8$39K$39K
Other employee benefitsLn 9$367K$349K$18K
Payroll taxesLn 10$256K$234K$22K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$95K$95K
Other fees for servicesLn 11g$484K$440K$44K$665
Advertising and promotionLn 12$37K$37K$542
Office expensesLn 13$52K$49K$3K
Information technologyLn 14$71K$67K$4K
Depreciation, depletion and amortizationLn 22$55K$53K$3K
InsuranceLn 23$59K$56K$3K
Other expenses (24a–d)Ln 24$326K$313K$12K$665
All other expensesLn 24e$181$181
Total functional expensesLn 25$5.1M$4.6M$505K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.2M$6.5M−$311K$1.9M 990 PDF
FY2024 $5.7M$6.2M−$462K$2.2M 990 PDF
FY2023 $4.9M$5.5M−$597K$2.6M 990 PDF
FY2022 $5.0M$4.8M$162K$3.2M 990 PDF
FY2021 $6.0M$4.5M$1.4M$3.1M 990 PDF
FY2020 Viewing $5.5M$5.1M$463K$1.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (5 parts)
Part I · Summary $5,547,295 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $238,164$232,264
I-9 Program service revenuePrior year $5,734,406$5,324,405
I-10 Investment incomePrior year $7$8
I-11 Other revenuePrior year −$3,158−$9,382
I-12 Total revenuePrior year $5,969,419$5,547,295
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,389,479$3,901,296
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $983,214$1,183,472
I-18 Total expensesPrior year $5,372,693$5,084,768
I-19 Revenue less expensesPrior year $596,726$462,527
Part VIII · Statement of revenue $5,547,295 across 9 lines filed
VIII-1c Fundraising events$7,020
VIII-1e Government grants$224,342
VIII-1f All other contributions, gifts and grants$902
VIII-1g Noncash contributions (included above)$21,384
VIII-1h Total contributions, gifts and grants$232,264
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,324,405$5,324,405
VIII-3 Investment incomeExcluded from tax $8$8
VIII-8 Net income from fundraising eventsExcluded from tax −$9,382−$9,382
VIII-12 Total revenueRelated to mission $5,324,405 · Unrelated business $0 · Excluded from tax −$9,374$5,547,295
Part IX · Statement of functional expenses $5,084,768 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $317,624 · Management $217,444$535,068
IX-7 Other salaries and wagesPrograms $2,624,431 · Management $79,555$2,703,986
IX-8 Pension plan contributionsPrograms $39,387$39,387
IX-9 Other employee benefitsPrograms $348,721 · Management $18,054$366,775
IX-10 Payroll taxesPrograms $233,947 · Management $22,133$256,080
IX-11b Legal feesManagement $4,865$4,865
IX-11c Accounting feesManagement $94,510$94,510
IX-11g Other fees for servicesPrograms $439,724 · Management $44,045 · Fundraising $665$484,434
IX-12 Advertising and promotionPrograms $36,585 · Management $542$37,127
IX-13 Office expensesPrograms $48,960 · Management $2,577$51,537
IX-14 Information technologyPrograms $67,333 · Management $3,544$70,877
IX-22 Depreciation, depletion and amortizationPrograms $52,621 · Management $2,770$55,391
IX-23 InsurancePrograms $55,695 · Management $2,931$58,626
IX-24 Other expenses (24a–d)Programs $313,247 · Management $12,012 · Fundraising $665$325,924
IX-24e All other expensesPrograms $181$181
IX-25 Total functional expensesPrograms $4,578,456 · Management $504,982 · Fundraising $1,330$5,084,768
Part X · Balance sheet $2,728,687 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,399,102$2,344,222
X-2 Savings and temporary cash investmentsStart of year $75,148$75,156
X-3 Pledges and grants receivableStart of year $135,927$131,292
X-9 Prepaid expenses and deferred chargesStart of year $11,632$68,455
X-10c Land, buildings and equipment, netStart of year $79,832$109,562
X-16 Total assetsStart of year $1,701,641$2,728,687
X-17 Accounts payable and accrued expensesStart of year $544,500$363,344
X-26 Total liabilitiesStart of year $544,500$1,109,019
X-27 Net assets without donor restrictionsStart of year $1,157,141$1,619,668
X-32 Total net assets or fund balancesStart of year $1,157,141$1,619,668
X-33 Total liabilities and net assetsStart of year $1,701,641$2,728,687
Part XI · Reconciliation of net assets $1,619,668 net assets at year end
XI-1 Total revenue$5,547,295
XI-2 Total expenses$5,084,768
XI-3 Revenue less expenses$462,527
XI-4 Net assets at start of year$1,157,141
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,619,668

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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