Summit Charter School Foundation INC: Nonprofit Profile, Financials & Form 990 (EIN 56-2039872)

Revenue by fiscal year
FY2020	$704K
FY2021	$728K
FY2022	$951K
FY2023	$4.1M
FY2024	$4.2M
FY2025	$3.8M

Expenses by fiscal year
FY2020	$610K
FY2021	$907K
FY2022	$1.0M
FY2023	$1.1M
FY2024	$1.2M
FY2025	$1.5M

Net assets by fiscal year
FY2020	$11.2M
FY2021	$10.9M
FY2022	$10.7M
FY2023	$13.8M
FY2024	$16.8M
FY2025	$19.1M

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

78 cents of each dollar spent went to programs.

78%

15%

Program services 78% · $1.2M Management & general 15% · $225K Fundraising 7% · $114K

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

Something off? Claim to add context

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Jennings Sarah

Chair

$0Pt VII · Sec A

Dunn Denice

Vice-Chair

$0Pt VII · Sec A

Hunter Rob

Treasurer

$0Pt VII · Sec A

Stewart Debi

Secretary

$0Pt VII · Sec A

Bates Thomas

Voting Member

$0Pt VII · Sec A

Coleman Gordon

Voting Member

$0Pt VII · Sec A

Dawkins Terry

Voting Member

$0Pt VII · Sec A

Foster Patch

Voting Member

$0Pt VII · Sec A

See Summit Charter School Foundation INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

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

Summit Charter School Foundation INC is an education nonprofit based in Cashiers, NC, formed in 1997.

Questions for Summit Charter School Foundation INC

Tap to ask. Summit Charter School Foundation INC sees how many people are interested.

Your first name shows with your question. Summit Charter School Foundation INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $1.2M · in their own filed words · FY2024

01

Support for Charter School. The organization raised money to purchase the building, furnishings and equipment

$1.2Mprogram 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

Jen and Rick Puckett FoundationFY2025$11K

Total grants receivedfrom 1 funder$11K

Grants paid · 9 grants · $3.7M · 2019–2024

Summit Charter School INCNC · FY2024$610,250

Unitemized GrantFY2024$82,381

Summit Charter School INCNC · FY2023$642,008

Unitemized GrantFY2023$72,439

Summit Charter School INCNC · FY2022$669,625

Unitemized GrantFY2022$81,234

Summit Charter School INCNC · FY2021$625,413

Summit Charter School INCNC · FY2020$571,000

Summit Charter School INCNC · FY2019$352,051

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.8M

Ln 12

Gifts and grantsLn 1h$3.7M

Other incomeLn 4–11$78K

Investment incomeLn 3$44K

Money outPt IX

$1.5M

Ln 25

Programscol B$1.2M

Managementcol C$225K

Fundraisingcol D$114K

Owns and owesPt X

$19.1M

net assets · Ln 32

Cash and savingsLn 1–2$372K

Total assetsLn 16$19.9M

LiabilitiesLn 26$746K

PeoplePt VI, VII

14

listed · VII A

PaidVII A0

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.7M

Noncash giftsLn 1g$200K

Investment incomeLn 3$44K

Other incomeLn 4–11$78K

Total revenueLn 12$3.8M

Assets in detailPt X, end of year

CashLn 1$372K

Cash and savings togetherLn 1–2$372K

InvestmentsLn 11–13$1.6M

Land, buildings, equipmentLn 10c$15.7M

Total assetsLn 16$19.9M

LiabilitiesLn 26$746K

Net assetsLn 32$19.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 6413

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$228K	$372K
InvestmentsLn 11–13	$774K	$1.6M
Land, buildings, equipmentLn 10c	$15.5M	$15.7M
Total assetsLn 16	$18.3M	$19.9M
LiabilitiesLn 26	$1.5M	$746K
Net assetsLn 32	$16.8M	$19.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$610K	$610K
Grants to domestic individualsLn 2	$82K	$82K
Accounting feesLn 11c	$20K		$20K
Investment management feesLn 11f	$1K		$1K
Advertising and promotionLn 12	$856		$856
Office expensesLn 13	$45K		$13K	$32K
OccupancyLn 16	$15K		$15K
InterestLn 20	$52K		$52K
Depreciation, depletion and amortizationLn 22	$509K	$509K
InsuranceLn 23	$3K	$2K	$2K
Other expenses (24a–d)Ln 24	$198K		$117K	$81K
All other expensesLn 24e	$8K	$5K	$3K
Total functional expensesLn 25	$1.5M	$1.2M	$225K	$114K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$3.8M	$1.5M	$2.3M	$19.1M	990 PDF
FY2024	$4.2M	$1.2M	$3.0M	$16.8M	990 PDF
FY2023	$4.1M	$1.1M	$3.0M	$13.8M	990 PDF
FY2022	$951K	$1.0M	−$68K	$10.7M	990 PDF
FY2021	$728K	$907K	−$179K	$10.9M	990 PDF
FY2020	$704K	$610K	$94K	$11.2M	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $3,830,367 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,114,441$3,708,339

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $79,066$43,747

I-11 Other revenuePrior year $33,641$78,281

I-12 Total revenuePrior year $4,227,148$3,830,367

I-13 Grants and similar amounts paidPrior year $714,447$692,631

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $509,127$853,685

I-18 Total expensesPrior year $1,223,574$1,546,316

I-19 Revenue less expensesPrior year $3,003,574$2,284,051

Part VI · Governance 14 of 14 board members independent, 3 to look at

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

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

Part VIII · Statement of revenue $3,830,367 across 7 lines filed

VIII-1f All other contributions, gifts and grants$3,708,339

VIII-1g Noncash contributions (included above)$199,654

VIII-1h Total contributions, gifts and grants$3,708,339

VIII-3 Investment incomeExcluded from tax $43,747$43,747

VIII-8 Net income from fundraising eventsExcluded from tax $76,856$76,856

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,425$1,425

VIII-12 Total revenueRelated to mission $1,425 · Unrelated business $0 · Excluded from tax $120,603$3,830,367

Part IX · Statement of functional expenses $1,546,316 across 12 lines filed

IX-1 Grants to domestic organizationsPrograms $610,250$610,250

IX-2 Grants to domestic individualsPrograms $82,381$82,381

IX-11c Accounting feesManagement $20,279$20,279

IX-11f Investment management feesManagement $1,344$1,344

IX-12 Advertising and promotionManagement $856$856

IX-13 Office expensesManagement $12,929 · Fundraising $32,271$45,200

IX-16 OccupancyManagement $14,998$14,998

IX-20 InterestManagement $52,486$52,486

IX-22 Depreciation, depletion and amortizationPrograms $509,343$509,343

IX-23 InsurancePrograms $1,510 · Management $1,510$3,020

IX-24 Other expenses (24a–d)Management $117,218 · Fundraising $81,247$198,465

IX-24e All other expensesPrograms $4,675 · Management $3,019$7,694

IX-25 Total functional expensesPrograms $1,208,159 · Management $224,639 · Fundraising $113,518$1,546,316

Part X · Balance sheet $19,862,048 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $227,784$372,241

X-3 Pledges and grants receivableStart of year $1,309,634$2,180,646

X-4 Accounts receivableStart of year $62,967$59,265

X-10c Land, buildings and equipment, netStart of year $15,542,444$15,663,547

X-11 Publicly traded securitiesStart of year $773,923$1,586,349

X-16 Total assetsStart of year $18,339,201$19,862,048

X-17 Accounts payable and accrued expensesStart of year $1,534,570$745,706

X-26 Total liabilitiesStart of year $1,534,570$745,706

X-27 Net assets without donor restrictionsStart of year $14,522,114$15,423,236

X-28 Net assets with donor restrictionsStart of year $2,282,517$3,693,106

X-32 Total net assets or fund balancesStart of year $16,804,631$19,116,342

X-33 Total liabilities and net assetsStart of year $18,339,201$19,862,048

Part XI · Reconciliation of net assets $19,116,342 net assets at year end

XI-1 Total revenue$3,830,367

XI-2 Total expenses$1,546,316

XI-3 Revenue less expenses$2,284,051

XI-4 Net assets at start of year$16,804,631

XI-5 Net unrealized gains (losses) on investments$27,660

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$19,116,342

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

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

Summit Charter School Foundation INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Summit Charter School Foundation INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV