The Summit Corporation

Nonprofit profile at a glance

EIN
730762818
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Tulsa, OK, USA
Phone
9185825243
Rating confidence
Limited

Official website

Reported finances

Revenue
$8,278,577
Expenses
$8,894,473
Assets
$14,937,717
Liabilities
$15,307,540

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Anne Adams-1st VP thru Mar (President as of Apr 2024)
  • R Jared Jordan (CEO)

Highest reported compensation

  • R Jared Jordan (CEO): $394,761 total reported compensation
  • William Lyle (Executive Chef): $249,778 total reported compensation
  • Derrick Shanklin (General Manager): $138,538 total reported compensation

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

Overview

Mission

Private Dining Club

What it reported doing in 2024

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.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
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: 73
  • Accountability: 79
  • Sustainability: 28
  • Growth: 60

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; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -7.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 1.68; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.2% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 12.7% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 14 of 16 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $395K · 23 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $239K reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.