Summit Corp EIN 73-0762818

Summit Corp

EIN  73-0762818 Mutual-benefit / member-serving Tulsa, OK Founded 1967
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/15/26 · see original filing: IRS
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Size
$1–10M
What they do
a member-serving organization
Leadership
R Jared Jordan · CEO · $243K
Money in and out
$8.3M revenue, $8.9M expenses
Bottom line
-7% surplus margin

Summit Corp is a member-serving organization based in Tulsa, OK, formed in 1967. For fiscal year 2024 it reported $8.3M in revenue, $8.9M in expenses, and $-370K in net assets.Pt I

Reported financial activity · FY2024
Total revenue
$8.3M
Pt VIII · Ln 12
Total expenses
$8.9M
Pt IX · Ln 25
Net assets
$-370K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$616K
Surplus margin
-7%
revenue over expenses, this year▲ +39% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$8.3M
FY2024▲ +13%
Expenses
$8.9M
FY2024▲ +8%
Total assets
$14.9M
FY2024▼ -7%
Total liabilities
$15.3M
FY2024▼ -3%
Total revenue
$8.3M
Pt VIII · Ln 12
Total expenses
$8.9M
Pt IX · Ln 25
Net assets
$-370K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$616K
Total assetsPt X · Ln 16$14.9M
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

The Summit is a noncommercial private dining club in Tulsa, Oklahoma and has the most breathtaking views overlooking the Tulsa skyline. The club is atop the Bank of America Building on the 30th, 31st and 32nd Floors. The majority of the revenue comes from food and beverage sales and dues and fees from members and non-members.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummit Corp
EINHdr · item D73-0762818
Principal addressHdr · item CTulsa, OK
WebsiteHdr · item Jwww.summittulsa.com
Year of formationHdr · item L1967
State of legal domicileHdr · item MOK
Exempt statusHdr · item I501(c)(7) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFOct 1967

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$243,404Pt VII · Sec A
Executive Chef
$200,793Pt VII · Sec A
General Manager
$120,297Pt VII · Sec A
Controller
$107,834Pt VII · Sec A
Until Mar Treasurer as of Apr 24
$0Pt VII · Sec A
Mar Secretary as of Apr 2024
$0Pt VII · Sec A
Ex-Officio Until Apr 2024
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
R Jared Jordan$243,404$228,756$216,945$177,396$167,448
William Lyle$200,793$163,177$160,803$155,028$153,513
Derrick Shanklin$120,297
April Stanton$107,834

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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Statement of Revenue

Part VIII
Other revenue$4.1M · 50%
Program service revenue$4.1M · 49%
Investment income$60K · 1%
Other revenue50%$4.1M
Program service revenue49%$4.1M
Investment income1%$60K
Total revenueLn 12$8.3M

Balance Sheet

Part X · end of year
CashLn 1$792K
Total assetsLn 16$14.9M
Total liabilitiesLn 26$15.3M
Total net assetsLn 32$-370K
Months of cash on handcomputed1.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.2M · Operating expenses/yr $8.9M
2.9 months
Where the money goes
Program services
Program services — · Total expenses $8.9M
Management & General
Management & general — · Total expenses $8.9M
Fundraising
Fundraising — · Total expenses $8.9M
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $8.3M
0%
Government reliance
Government grants — · Total revenue $8.3M
Earned-income share
Program service revenue $4.1M · Total revenue $8.3M
49%
Investment reliance
Investment income $60K · Total revenue $8.3M
+1%
Program self-sufficiency
Program service revenue $4.1M · Total expenses $8.9M
46%
Growth & trend
Revenue growth (YoY)
This year $8.3M · Prior year $7.4M
+13%
Revenue CAGR
FY2020 $3.3M · FY2024 $8.3M
+26%
Net-asset trend (YoY)
End of year $-370K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $8.3M · Expenses $8.9M
-7%
Liabilities-to-Assets
Total liabilities — · Total assets $14.9M
Net-asset ratio
Net assets $-370K · Total assets $14.9M
-2%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $14.9M
9%
People & payroll
Highest Reported Total Compensation
Individual R Jared Jordan · Reported title CEO · Highest reported compensation $243K · Total expenses $8.9M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $5.3M · Total expenses $8.9M
60%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 13%
Investment management fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$13K
Grants paid · 1 grant · $10K · 2024–2024
Tulsa Ballet Theater INCOK · FY2024$10,354

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$8.3M revenue · viewing · ⤓ 990 PDF
FY2023$7.4M revenue · ⤓ 990 PDF
FY2022$7.1M revenue · ⤓ 990 PDF
FY2021$5.2M revenue · ⤓ 990 PDF
FY2020$3.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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