Summit Charter School INC FY2021 filing

Tax-deductible

Cashiers, NC501(c)(3)EducationEIN 56-1993257Revenue $3.5M in FY2021

On file with the IRSsummitschool.org370 Mitten Ln, 28717-4511 · Cashiers, NCTax-exempt since Mar 1998School — 170(b)(1)(A)(ii)

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Operation of a north carolina public Charter School

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$515K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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 $26K a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$515K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$156K
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
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
$3.5M
+31% vs prior year
Spent
$3.2M
To programs
74%
Net assets
$91K
By yearFY2020–FY2025
Revenue
$3.5M
FY2021▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$3.5M
FY2022$3.8M
FY2023$4.0M
FY2024$4.2M
FY2025$4.6M
Expenses
$3.2M
FY2021▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0M
FY2021$3.2M
FY2022$3.7M
FY2023$4.0M
FY2024$4.2M
FY2025$4.5M
Net assets
$91K
FY2021▲ +151%
Tap a bar for its year
Net assets by fiscal year
FY2020−$178K
FY2021$91K
FY2022$155K
FY2023$142K
FY2024$167K
FY2025$241K

From the FY2021 Form 990 (year ending June 2021) · 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 Mar 1998.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $2.4M Management & general 26% · $851K

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

18 people listed on the 990; $515K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$154,675Pt VII · Sec A
$101,992Pt VII · Sec A
$73,199Pt VII · Sec A
$69,382Pt VII · Sec A
$48,615Pt VII · Sec A
$43,726Pt VII · Sec A
$23,908Pt VII · Sec A
Director
$0Pt VII · Sec A

Kurt Pusch’s $181K as Head of School is at the 77th percentile of top reported officer pay among 3395 $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

NameFY2023FY2022FY2021FY2020
Kurt Pusch$181,136———
Kurt Pusch Non-Voting—$174,100$154,675$70,590
Andrea Chalker$108,398———
Andrea L Chalker—$105,749——
Andrea Chalker Non Voting——$101,992—
Lauren Bennett Non Voting——$73,199—
Marie Smith Non Voting——$69,382—
Marie Starkings Non Voting———$63,650

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

Operates a public charter school in North Carolina.

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Provided by the organization

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1 program · $2.4M · in their own filed words · FY2020
01

Operated as a public charter school in cashiers, north carolina. Serving approximately 235 students for the fiscal year ended 6/30/21.

$2.4Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.5M
Ln 12
Fees for servicesLn 2g$2.2M
Gifts and grantsLn 1h$1.3M
Other incomeLn 4–11$26K
Money outPt IX
$3.2M
Ln 25
Programscol B$2.4M
Managementcol C$851K
Owns and owesPt X
$91K
net assets · Ln 32
Cash and savingsLn 1–2$83K
Total assetsLn 16$247K
LiabilitiesLn 26$156K
PeoplePt VI, VII
18
listed · VII A
PaidVII A7
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$495K
Fees for servicesLn 2g$2.2M
Other incomeLn 4–11$26K
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$83K
Cash and savings togetherLn 1–2$83K
Land, buildings, equipmentLn 10c$55K
Total assetsLn 16$247K
LiabilitiesLn 26$156K
Net assetsLn 32$91K
OperationsPt I, VI
EmployeesI 563
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$129K$83K
Land, buildings, equipmentLn 10c$51K$55K
Total assetsLn 16$334K$247K
LiabilitiesLn 26$512K$156K
Net assetsLn 32−$178K$91K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$153K$153K
Other salaries and wagesLn 7$1.9M$1.6M$357K
Pension plan contributionsLn 8$51K$39K$13K
Other employee benefitsLn 9$235K$177K$58K
Payroll taxesLn 10$153K$115K$38K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$251K$168K$83K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$44K$18K$27K
Information technologyLn 14$67K$47K$19K
OccupancyLn 16$101K$92K$8K
TravelLn 17$931$56$875
Conferences, conventions and meetingsLn 19$21K$4K$17K
Depreciation, depletion and amortizationLn 22$12K$9K$3K
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$174K$163K$11K
All other expensesLn 24e$15K$3K$12K
Total functional expensesLn 25$3.2M$2.4M$851K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.6M$4.5M$74K$241K 990 PDF
FY2024 $4.2M$4.2M$24K$167K 990 PDF
FY2023 $4.0M$4.0M−$13K$142K 990 PDF
FY2022 $3.8M$3.7M$64K$155K 990 PDF
FY2021 Viewing $3.5M$3.2M$269K$91K 990 PDF
FY2020 $2.7M$3.0M−$264K−$178K 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 FY2021 990 (6 parts)
Part I · Summary $3,513,448 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $526,249$1,285,967
I-9 Program service revenuePrior year $2,117,575$2,201,569
I-10 Investment income$0
I-11 Other revenuePrior year $43,961$25,912
I-12 Total revenuePrior year $2,687,785$3,513,448
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,334,759$2,507,487
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $616,791$737,294
I-18 Total expensesPrior year $2,951,550$3,244,781
I-19 Revenue less expensesPrior year −$263,765$268,667
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,513,448 across 7 lines filed
VIII-1d Related organizations$373,312
VIII-1e Government grants$494,642
VIII-1f All other contributions, gifts and grants$418,013
VIII-1h Total contributions, gifts and grants$1,285,967
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,201,569$2,201,569
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $25,912$25,912
VIII-12 Total revenueRelated to mission $2,227,481$3,513,448
Part IX · Statement of functional expenses $3,244,781 across 18 lines filed
IX-5 Pay of current officers, directors and key staffManagement $153,000$153,000
IX-7 Other salaries and wagesPrograms $1,558,165 · Management $356,882$1,915,047
IX-8 Pension plan contributionsPrograms $38,800 · Management $12,697$51,497
IX-9 Other employee benefitsPrograms $176,988 · Management $58,007$234,995
IX-10 Payroll taxesPrograms $115,135 · Management $37,813$152,948
IX-11b Legal feesManagement $2,850$2,850
IX-11c Accounting feesManagement $7,750$7,750
IX-11g Other fees for servicesPrograms $167,730 · Management $83,372$251,102
IX-12 Advertising and promotionManagement $5,847$5,847
IX-13 Office expensesPrograms $17,562 · Management $26,905$44,467
IX-14 Information technologyPrograms $47,410 · Management $19,434$66,844
IX-16 OccupancyPrograms $92,361 · Management $8,405$100,766
IX-17 TravelPrograms $56 · Management $875$931
IX-19 Conferences, conventions and meetingsPrograms $4,248 · Management $17,106$21,354
IX-22 Depreciation, depletion and amortizationPrograms $9,259 · Management $3,086$12,345
IX-23 InsuranceManagement $33,974$33,974
IX-24 Other expenses (24a–d)Programs $163,248 · Management $10,555$173,803
IX-24e All other expensesPrograms $3,281 · Management $11,980$15,261
IX-25 Total functional expensesPrograms $2,394,243 · Management $850,538 · Fundraising $0$3,244,781
Part X · Balance sheet $246,672 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $129,346$83,282
X-4 Accounts receivableStart of year $129,402$37,112
X-9 Prepaid expenses and deferred chargesStart of year $24,263$71,227
X-10c Land, buildings and equipment, netStart of year $51,113$55,051
X-16 Total assetsStart of year $334,124$246,672
X-17 Accounts payable and accrued expensesStart of year $11,362$22,710
X-19 Deferred revenueStart of year $30,311$132,869
X-26 Total liabilitiesStart of year $511,698$155,579
X-27 Net assets without donor restrictionsStart of year −$306,870$91,093
X-32 Total net assets or fund balancesStart of year −$177,574$91,093
X-33 Total liabilities and net assetsStart of year $334,124$246,672
Part XI · Reconciliation of net assets $91,093 net assets at year end
XI-1 Total revenue$3,513,448
XI-2 Total expenses$3,244,781
XI-3 Revenue less expenses$268,667
XI-4 Net assets at start of year−$177,574
XI-10 Net assets at end of year$91,093

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

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