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Summit54 FY2021 filing

Tax-deductible

Aspen, CO501(c)(3)Since 2010Education EIN 27-2978700Revenue $978K in FY2021

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
19 mo
of spending, in cash
Looks good: 19.3 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
$215
0.01% 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
$978K
+7% vs prior year
Spent
$882K
To programs
95%
Net assets
$1.7M
By yearFY2020–FY2025
Revenue
$978K
FY2021▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$917K
FY2021$978K
FY2022$681K
FY2023$1.1M
FY2024$925K
FY2025$982K
Expenses
$882K
FY2021▲ +183%
Tap a bar for its year
Expenses by fiscal year
FY2020$312K
FY2021$882K
FY2022$967K
FY2023$922K
FY2024$957K
FY2025$953K
Net assets
$1.7M
FY2021▲ +6%
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 FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 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% · $842K Management & general 5% · $40K

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
Fred Lodge
Director
$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 · $842K · in their own filed words · FY2021
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, and enrichment programs, students gained an average of 2.5 months in math and reading skills.

$730Kprogram expense
02

In 2020, the organization created a new outdoor tutoring model enabling small groups of elementary students to enhance their academic learning. The summer and fall tutoring programs collectively enrolled nearly 500 students.

$112Kprogram 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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$978K
Ln 12
Gifts and grantsLn 1h$977K
Investment incomeLn 3$686
Money outPt IX
$882K
Ln 25
Programscol B$842K
Managementcol C$40K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.7M
LiabilitiesLn 26$215
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$977K
Government grantsLn 1e$22K
Investment incomeLn 3$686
Total revenueLn 12$978K
Assets in detailPt X, end of year
CashLn 1$231K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.4M
Total assetsLn 16$1.7M
LiabilitiesLn 26$215
Net assetsLn 32$1.7M
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 FY21End FY21
Cash and savingsLn 1–2$1.3M$1.4M
Total assetsLn 16$1.6M$1.7M
LiabilitiesLn 26$150$215
Net assetsLn 32$1.6M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$662K$662K
Other salaries and wagesLn 7$55K$54K$711
Payroll taxesLn 10$2K$2K
Accounting feesLn 11c$32K$32K
Other fees for servicesLn 11g$87K$87K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$19K$18K$1K
Information technologyLn 14$1K$1K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$22K$18K$4K
Total functional expensesLn 25$882K$842K$40K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $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 FY2021 990 (6 parts)
Part I · Summary $978,171 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $915,785$977,485
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,369$686
I-11 Other revenue$0
I-12 Total revenuePrior year $917,154$978,171
I-13 Grants and similar amounts paidPrior year $25,726$662,325
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $16,406$56,141
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $270,025$163,868
I-18 Total expensesPrior year $312,157$882,334
I-19 Revenue less expensesPrior year $604,997$95,837
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 $978,171 across 5 lines filed
VIII-1e Government grants$22,000
VIII-1f All other contributions, gifts and grants$955,485
VIII-1h Total contributions, gifts and grants$977,485
VIII-3 Investment incomeExcluded from tax $686$686
VIII-12 Total revenueExcluded from tax $686$978,171
Part IX · Statement of functional expenses $882,334 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $662,325$662,325
IX-7 Other salaries and wagesPrograms $53,912 · Management $711$54,623
IX-10 Payroll taxesPrograms $1,518$1,518
IX-11c Accounting feesManagement $31,500$31,500
IX-11g Other fees for servicesPrograms $86,720$86,720
IX-12 Advertising and promotionPrograms $1,358$1,358
IX-13 Office expensesPrograms $18,080 · Management $1,348$19,428
IX-14 Information technologyManagement $1,351$1,351
IX-23 InsuranceManagement $1,345$1,345
IX-24 Other expenses (24a–d)Programs $18,207 · Management $3,959$22,166
IX-25 Total functional expensesPrograms $842,120 · Management $40,214 · Fundraising $0$882,334
Part X · Balance sheet $1,703,761 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $455,812$231,302
X-2 Savings and temporary cash investmentsStart of year $802,047$1,190,138
X-3 Pledges and grants receivableStart of year $350,000$282,321
X-16 Total assetsStart of year $1,607,859$1,703,761
X-17 Accounts payable and accrued expensesStart of year $150$215
X-26 Total liabilitiesStart of year $150$215
X-27 Net assets without donor restrictionsStart of year $1,565,870$1,678,064
X-28 Net assets with donor restrictionsStart of year $41,839$25,482
X-32 Total net assets or fund balancesStart of year $1,607,709$1,703,546
X-33 Total liabilities and net assetsStart of year $1,607,859$1,703,761
Part XI · Reconciliation of net assets $1,703,546 net assets at year end
XI-1 Total revenue$978,171
XI-2 Total expenses$882,334
XI-3 Revenue less expenses$95,837
XI-4 Net assets at start of year$1,607,709
XI-10 Net assets at end of year$1,703,546

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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