Summit Charter School Foundation

Nonprofit profile at a glance

EIN
562039872
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cashiers, NC, USA
Phone
8287439630
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$3,830,367
Expenses
$1,546,316
Assets
$19,862,048
Liabilities
$745,706

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

People named in this filing

  • Jennings Sarah (Chair)
  • Dunn Denice (Vice-Chair)
  • Hunter Rob (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support Organization-School

What it reported doing in 2024

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

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.3%; rating input score 32
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: $32.67 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 59.6%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 12.84; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 32.3% of revenue deployed · 78.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Highest-paid contractors: 3 contractors listed · $669K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 32/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.