Summit Middle Charter School Inc

Nonprofit profile at a glance

EIN
841562333
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Boulder, CO, USA
Phone
7205613925
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$6,169,233
Expenses
$8,771,056
Assets
$2,177,238
Liabilities
$7,129,821

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

Leadership & pay

10 people listed

Highest reported compensation

  • ADAM GALVIN (PRINCIPAL): $225,707 total reported compensation
  • MARY KATHRYN WOOD (SECRETARY): $1,184 total reported compensation

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

Overview

Mission

Public education for mainstream learners in a middle school setting. The school is a no child left behind blue ribbon school.

What it reported doing in 2024

A. Summit middle school is a tuition-free, public charter school in theboulder valley school district (bvsd), serving grades 6,7, and 8 through mixed-age classes grouped by ability, interest, motivation, developmental level, and mastery of previous material, and taught byteachers who are specialists in their subject areas. Enrollment for the 2024-2025 school year was approximately 366 full-time equivalent students.

Operating model

Revenue model
Grant-funded. 95% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 12
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.1%; rating input score 54
  • Program expense ratio: 38.1%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -42.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 3.27; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 54.1% of revenue deployed · 38.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $226K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.