Summit Endowment Foundation Inc

Nonprofit profile at a glance

EIN
593220396
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Apopka, FL, USA
Phone
4078808700
Rating confidence
Limited
Sector
Private Independent Foundations
Affiliation
Christianity

Reported finances

Revenue
$451
Expenses
$2,579
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

6 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To endow the healing mission of the summit of central Florida inc dba wellsprings of fla and thus support christian science nursing. The summit endowment foundation inc is a fla not-for-profit corporation operating exclusively for the benefit of, and to carry out certain of the purposes of the summit of central Florida, inc dba wellsprings of Florida.

What it reported doing in 2010

The summit endowment foundation inc is a Florida not-for-profit corp supporting the summit of central Florida, inc. Dba wellsprings of Florida, operating exclusively for the benefit of, and to carry out certain of the purposes of wellsprings of Florida (the benefiting organization). Wellsprings of Florida is a not for profit christian science nursing organization. Wellsprings of Florida makes christian science nursing available for every child, man and woman seeking healing. In supporting wellsprings of Florida during 2010, the summit endowment foundation inc distributed $2,469 for benevolence and general operating working capital during the year ended december 31, 2010. The summit endowment foundation inc subsequently transferred all assets to wellsprings of Florida in a complete dissolutionment on june 14, 2010.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 11
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -471.8%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 5 filed schedules
  • 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.