The Summit School Incorporated FY2020 filing

Tax-deductible

Winston Salem, NC501(c)(3)Since 1938EducationEIN 56-0547519Revenue $17.8M in FY2020

On file with the IRSsummitschool.com2100 Reynolda Rd, 27106-5115 · Winston Salem, NCTax-exempt since Sep 1942School — 170(b)(1)(A)(ii)

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To provide a challenging curriculum within a caring enviroment to help students develop their full potential.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$350K 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
5 of 6
filings with a surplus
Average surplus $2.0M a year · 10% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$350K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $694K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$15.3M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.8M
Spent
$17.1M
To programs
72%
Net assets
$27.8M
By yearFY2020–FY2025
Revenue
$17.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$17.8M
FY2021$18.7M
FY2022$18.8M
FY2023$18.1M
FY2024$26.9M
FY2025$23.5M
Expenses
$17.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$17.1M
FY2021$16.9M
FY2022$17.5M
FY2023$18.8M
FY2024$20.3M
FY2025$20.8M
Net assets
$27.8M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$27.8M
FY2021$34.0M
FY2022$31.9M
FY2023$31.7M
FY2024$39.4M
FY2025$43.0M

From the FY2020 Form 990 (year ending June 2020) · 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 Sep 1942.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $12.4M Management & general 24% · $4.0M Fundraising 4% · $726K

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

25 people listed on the 990; $350K 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
Head of School
$232,576Pt VII · Sec A
Director of Finance
$117,212Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Michael J Ebeling’s $397K as Head of School is at the 80th percentile of top reported officer pay among 3683 $10–100M 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 · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Michael J Ebeling$397,363$354,748$307,569$295,830——
Michael Ebeling————$284,400$232,576
Carter Sturkie$155,174$144,080$136,518$132,095$129,917$117,212
Cindy Kluttz$117,627$108,273————
Jeanne Sayers——$114,633$110,874$107,448—
Christopher Culp$112,757$105,896$101,796———
Tom Gething$103,862—————

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.

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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

Educate students with a challenging curriculum in a caring environment to foster their full potential.

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Provided by the organization

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1 program · $12.4M · in their own filed words · FY2019
01

Educational instruction for JR. Kindergarten through ninth grade, including after-school programs, bus services, and cafeteria program. Approximately 587 students are enrolled.

$12.4Mprogram 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 · FY2024
See all 4 funders →
Grants paid · 12 grants · $14.7M · 2019–2024
Unitemized GrantFY2024$1,799,882
Unitemized GrantFY2024$999,119
Unitemized GrantFY2023$1,524,308
Unitemized GrantFY2023$1,067,632
Unitemized GrantFY2022$1,497,524
Unitemized GrantFY2022$783,378
Unitemized GrantFY2021$1,339,107
Unitemized GrantFY2021$857,535
Unitemized GrantFY2020$1,393,718
Unitemized GrantFY2020$922,169
Unitemized GrantFY2019$1,562,179
Unitemized GrantFY2019$989,969

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$17.8M
Ln 12
Fees for servicesLn 2g$15.1M
Gifts and grantsLn 1h$1.9M
Investment incomeLn 3$852K
Money outPt IX
$17.1M
Ln 25
Programscol B$12.4M
Managementcol C$4.0M
Fundraisingcol D$726K
Owns and owesPt X
$27.8M
net assets · Ln 32
Cash and savingsLn 1–2$3.2M
Total assetsLn 16$43.1M
LiabilitiesLn 26$15.3M
PeoplePt VI, VII
25
listed · VII A
PaidVII A2
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Fundraising eventsLn 1c$113K
Fees for servicesLn 2g$15.1M
Investment incomeLn 3$852K
Other incomeLn 4–11$37K
Gains on assetsLn 7$306K
Total revenueLn 12$17.8M
Assets in detailPt X, end of year
CashLn 1$2.7M
SavingsLn 2$511K
Cash and savings togetherLn 1–2$3.2M
InvestmentsLn 11–13$20.9M
Land, buildings, equipmentLn 10c$18.0M
Other assetsLn 15$403K
Total assetsLn 16$43.1M
LiabilitiesLn 26$15.3M
Net assetsLn 32$27.8M
OperationsPt I, VI
EmployeesI 5356
VolunteersI 6100
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$2.1M$3.2M
InvestmentsLn 11–13$20.8M$20.9M
Land, buildings, equipmentLn 10c$18.5M$18.0M
Total assetsLn 16$42.4M$43.1M
LiabilitiesLn 26$13.9M$15.3M
Net assetsLn 32$28.4M$27.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2.6M$2.6M
Pay of current officers, directors and key staffLn 5$373K$25K$286K$62K
Other salaries and wagesLn 7$7.2M$5.9M$841K$451K
Pension plan contributionsLn 8$290K$242K$31K$18K
Other employee benefitsLn 9$1.2M$904K$170K$78K
Payroll taxesLn 10$563K$435K$128K
Legal feesLn 11b$26K$26K
Accounting feesLn 11c$56K$56K
Investment management feesLn 11f$88K$88K
Other fees for servicesLn 11g$1.4M$696K$723K
Advertising and promotionLn 12$41K$41K
Office expensesLn 13$729K$308K$304K$118K
Information technologyLn 14$59K$59K
OccupancyLn 16$334K$334K
TravelLn 17$26K$26K
Conferences, conventions and meetingsLn 19$75K−$8K$83K
InterestLn 20$341K$341K
Depreciation, depletion and amortizationLn 22$974K$863K$111K
InsuranceLn 23$88K$15K$73K
Other expenses (24a–d)Ln 24$768K$441K$327K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$17.1M$12.4M$4.0M$726K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $23.5M$20.8M$2.6M$43.0M 990 PDF
FY2024 $26.9M$20.3M$6.6M$39.4M 990 PDF
FY2023 $18.1M$18.8M−$766K$31.7M 990 PDF
FY2022 $18.8M$17.5M$1.3M$31.9M 990 PDF
FY2021 $18.7M$16.9M$1.8M$34.0M 990 PDF
FY2020 Viewing $17.8M$17.1M$691K$27.8M 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 (6 parts)
Part I · Summary $17,838,490 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,106,972$1,851,706
I-9 Program service revenuePrior year $15,488,586$15,097,087
I-10 Investment incomePrior year $744,762$852,368
I-11 Other revenuePrior year $148,247$37,329
I-12 Total revenuePrior year $17,488,567$17,838,490
I-13 Grants and similar amounts paidPrior year $2,473,824$2,552,148
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,026,128$9,571,298
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,379,475$5,024,205
I-18 Total expensesPrior year $17,879,427$17,147,651
I-19 Revenue less expensesPrior year −$390,860$690,839
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $17,838,490 across 9 lines filed
VIII-1c Fundraising events$113,250
VIII-1f All other contributions, gifts and grants$1,738,456
VIII-1h Total contributions, gifts and grants$1,851,706
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,097,087$15,097,087
VIII-3 Investment incomeExcluded from tax $546,330$546,330
VIII-6 Net rental income or lossExcluded from tax $37,329$37,329
VIII-7 Net gain or loss on sales of assetsExcluded from tax $306,038$306,038
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $15,097,087 · Unrelated business $0 · Excluded from tax $889,697$17,838,490
Part IX · Statement of functional expenses $17,147,651 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $2,552,148$2,552,148
IX-5 Pay of current officers, directors and key staffPrograms $24,788 · Management $285,835 · Fundraising $61,970$372,593
IX-7 Other salaries and wagesPrograms $5,901,954 · Management $840,863 · Fundraising $451,168$7,193,985
IX-8 Pension plan contributionsPrograms $241,736 · Management $30,800 · Fundraising $17,750$290,286
IX-9 Other employee benefitsPrograms $904,095 · Management $169,532 · Fundraising $77,811$1,151,438
IX-10 Payroll taxesPrograms $434,896 · Management $128,100$562,996
IX-11b Legal feesManagement $25,746$25,746
IX-11c Accounting feesManagement $55,588$55,588
IX-11f Investment management feesManagement $87,874$87,874
IX-11g Other fees for servicesPrograms $696,217 · Management $722,726$1,418,943
IX-12 Advertising and promotionManagement $40,545$40,545
IX-13 Office expensesPrograms $308,124 · Management $303,566 · Fundraising $117,653$729,343
IX-14 Information technologyManagement $58,992$58,992
IX-16 OccupancyManagement $333,639$333,639
IX-17 TravelManagement $25,783$25,783
IX-19 Conferences, conventions and meetingsPrograms −$8,330 · Management $83,342$75,012
IX-20 InterestManagement $341,283$341,283
IX-22 Depreciation, depletion and amortizationPrograms $863,381 · Management $110,568$973,949
IX-23 InsurancePrograms $14,790 · Management $72,866$87,656
IX-24 Other expenses (24a–d)Programs $440,823 · Management $326,979$767,802
IX-24e All other expensesPrograms $2,050$2,050
IX-25 Total functional expensesPrograms $12,376,672 · Management $4,044,627 · Fundraising $726,352$17,147,651
Part X · Balance sheet $43,120,970 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $933,841$2,690,743
X-2 Savings and temporary cash investmentsStart of year $1,132,580$510,712
X-3 Pledges and grants receivableStart of year $390,280$340,408
X-4 Accounts receivableStart of year $320,151$174,670
X-9 Prepaid expenses and deferred chargesStart of year $95,878$117,137
X-10c Land, buildings and equipment, netStart of year $18,456,802$17,986,803
X-11 Publicly traded securitiesStart of year $2,859,405$1,771,802
X-12 Other securitiesStart of year $17,900,005$19,125,910
X-15 Other assetsStart of year $290,282$402,785
X-16 Total assetsStart of year $42,379,224$43,120,970
X-17 Accounts payable and accrued expensesStart of year $842,542$1,015,116
X-19 Deferred revenueStart of year $631,969$720,315
X-20 Tax-exempt bond liabilitiesStart of year $11,590,738$10,898,546
X-24 Unsecured notes and loans payable$1,875,000
X-25 Other liabilitiesStart of year $681,881$722,221
X-26 Total liabilitiesStart of year $13,932,286$15,300,005
X-27 Net assets without donor restrictionsStart of year $20,026,463$18,674,927
X-28 Net assets with donor restrictionsStart of year $8,420,475$9,146,038
X-32 Total net assets or fund balancesStart of year $28,446,938$27,820,965
X-33 Total liabilities and net assetsStart of year $42,379,224$43,120,970
Part XI · Reconciliation of net assets $27,820,965 net assets at year end
XI-1 Total revenue$17,838,490
XI-2 Total expenses$17,147,651
XI-3 Revenue less expenses$690,839
XI-4 Net assets at start of year$28,446,938
XI-5 Net unrealized gains (losses) on investments−$995,715
XI-9 Other changes in net assets−$321,097
XI-10 Net assets at end of year$27,820,965

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

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