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Summit54

Tax-deductible

Aspen, CO501(c)(3)Since 2010Education EIN 27-2978700Revenue $982K in FY2025

On file with the IRSsummit54.org625 E Main St Unit 102b Pmb 115, 81611-2154 · Aspen, COTax-exempt since Apr 2011Publicly supported charity — 170(b)(1)(A)(vi)

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The organization's mission is to improve colorado's economy and society through effective, efficient, and accountable investments in education.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 100 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
4 of 6
filings with a surplus
Average surplus $92K a year · 10% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$982K
+6% vs prior year
Spent
$953K
To programs
95%
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$982K
FY2025▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$917K
FY2021$978K
FY2022$681K
FY2023$1.1M
FY2024$925K
FY2025$982K
Expenses
$953K
FY2025-0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$312K
FY2021$882K
FY2022$967K
FY2023$922K
FY2024$957K
FY2025$953K
Net assets
$1.6M
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$1.7M
FY2022$1.4M
FY2023$1.6M
FY2024$1.5M
FY2025$1.6M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2011.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $901K Management & general 5% · $52K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Olsen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Summit54 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 15aNo

Programs and updates

Invests in education to improve Colorado's economy and society.

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Provided by the organization

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2 programs · $901K · in their own filed words · FY2025
01

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.

$767Kprogram expense
02

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.

$135Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Thrift Shop INCFY2025$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 6 grants · $3.7M · 2020–2025
Entrepreneurial Ventures in Education INCMA · FY2025$737,550
Entrepreneurial Ventures in Education INCMA · FY2024$704,025
Entrepreneurial Ventures in Education INCMA · FY2023$704,025
Entrepreneurial Ventures in Education INCMA · FY2022$834,025
Entrepreneurial Ventures in Education INCMA · FY2021$662,325
Entrepreneurial Ventures in Education INCMA · FY2020$25,726

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$982K
Ln 12
Gifts and grantsLn 1h$961K
Investment incomeLn 3$21K
Money outPt IX
$953K
Ln 25
Programscol B$901K
Managementcol C$52K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$961K
Government grantsLn 1e$160K
Investment incomeLn 3$21K
Total revenueLn 12$982K
Assets in detailPt X, end of year
CashLn 1$753K
SavingsLn 2$680K
Cash and savings togetherLn 1–2$1.4M
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$1.3M$1.4M
Total assetsLn 16$1.5M$1.6M
LiabilitiesLn 26$160$0
Net assetsLn 32$1.5M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$738K$738K
Accounting feesLn 11c$34K$34K
Other fees for servicesLn 11g$144K$144K
Advertising and promotionLn 12$1K$985$346
Office expensesLn 13$5K$2K$3K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$29K$18K$12K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$953K$901K$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $982K$953K$29K$1.6M 990 PDF
FY2024 $925K$957K−$31K$1.5M 990 PDF
FY2023 $1.1M$922K$138K$1.6M 990 PDF
FY2022 $681K$967K−$286K$1.4M 990 PDF
FY2021 $978K$882K$96K$1.7M 990 PDF
FY2020 $917K$312K$605K$1.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $982,106 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $887,948$960,812
I-9 Program service revenue$0
I-10 Investment incomePrior year $35,696$21,294
I-11 Other revenuePrior year $1,666$0
I-12 Total revenuePrior year $925,310$982,106
I-13 Grants and similar amounts paidPrior year $704,025$737,550
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $252,554$215,835
I-18 Total expensesPrior year $956,579$953,385
I-19 Revenue less expensesPrior year −$31,269$28,721
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $982,106 across 5 lines filed
VIII-1e Government grants$160,450
VIII-1f All other contributions, gifts and grants$800,362
VIII-1h Total contributions, gifts and grants$960,812
VIII-3 Investment incomeExcluded from tax $21,294$21,294
VIII-12 Total revenueExcluded from tax $21,294$982,106
Part IX · Statement of functional expenses $953,385 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $737,550$737,550
IX-11c Accounting feesManagement $33,875$33,875
IX-11g Other fees for servicesPrograms $143,659$143,659
IX-12 Advertising and promotionPrograms $985 · Management $346$1,331
IX-13 Office expensesPrograms $1,500 · Management $3,463$4,963
IX-23 InsuranceManagement $1,345$1,345
IX-24 Other expenses (24a–d)Programs $17,685 · Management $11,714$29,399
IX-24e All other expensesManagement $1,263$1,263
IX-25 Total functional expensesPrograms $901,379 · Management $52,006 · Fundraising $0$953,385
Part X · Balance sheet $1,552,632 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $421,594$752,514
X-2 Savings and temporary cash investmentsStart of year $916,994$680,118
X-3 Pledges and grants receivableStart of year $185,483$120,000
X-16 Total assetsStart of year $1,524,071$1,552,632
X-26 Total liabilitiesStart of year $160$0
X-27 Net assets without donor restrictionsStart of year $1,523,911$1,552,632
X-32 Total net assets or fund balancesStart of year $1,523,911$1,552,632
X-33 Total liabilities and net assetsStart of year $1,524,071$1,552,632
Part XI · Reconciliation of net assets $1,552,632 net assets at year end
XI-1 Total revenue$982,106
XI-2 Total expenses$953,385
XI-3 Revenue less expenses$28,721
XI-4 Net assets at start of year$1,523,911
XI-10 Net assets at end of year$1,552,632

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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