2021-05-17T08:28:35-05:00 2020-12-31 363990892 Capin Crouse LLP 2435 Research Parkway STE 200 Colorado Springs CO 80920 990 2020-01-01 730792333 Summit Ministries Inc SUMM 7196859103 PO Box 207 Manitou Springs CO 80829 Dr Jeff Myers President 7196859103 2021-05-17 1 Dr Jeff Myers 999009999 Ted R Batson Jr P00721951 5055022746 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Dr Jeff Myers PO Box 207 Manitou Springs CO 80829 7812039 0 X www.summit.org X 1970 CO Equip & support rising generations to embrace God's truth & champion a biblical worldview. 10 9 125 9 61691 0 4526356 5175468 2931391 833801 81831 7368 1034153 885312 8573731 6901949 202490 200050 0 0 3678768 3763015 0 0 872818 3525002 2764239 7406260 6727304 1167471 174645 12343752 12513563 527646 458893 11816106 12054670 X Summit Ministries is an educational Christian ministry with the purpose of equipping tomorrow's servant leaders to analyze competing worldviews and champion the Christian faith, inspiring each one to love God with all his heart, soul, mind, and strength. 0 0 1478089 129685 470016 Summit Youth Ministries Summer Programs - Educate students ages 16-21 in Christian worldview thinking, preparing them for the battle of ideas that they will face in college and in culture. The one-week virtual conferences feature over 30 hours of instruction in worldview analysis, Christian apologetics and leadership from a faculty of world-class instructors. Summer conferences are held by ZOOM. 1233141 974003 Curriculum development and sales - published materials to educate students and adults in Christian worldview thinking, preparing them for the battle of ideas that they will face in college and in culture. 520096 70365 323125 Summit Semester Program - A 12-week Christ-centered academic retreat, located near Pagosa Springs, Colorado, designed for post high school graduates. The retreat prepares young Christian thinkers to address the dichotomy separating faith from reason. Major courses include History of Christian Thought, Christianity and Politics, and English Literature. Minor courses include Philosophy, Art, Theology & the Church, Cultural Apologetics, and Bible Survey. 1893923 40660 Additional Programs - Alumni Network, consulting, speaking and teaching 1893923 40660 5125249 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 100 0 1 125 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CO MA NY SC WA AL AK AR CA CT FL GA HI IL KS KY ME MD MI MN MS NH NJ NM NC ND OH OK OR PA RI TN TX UT VA WV WI DC X Jeff Wood 7196859103 PO Box 207 Manitou Springs CO 80829 Jeff Myers President 40.00 X X 268566 0 28873 Jeff Wood CFO and Treasurer 40.00 X 164367 0 21669 Aaron Atwood VP Advancement 40.00 X 149959 0 26079 Joseph Amandee IT Director 40.00 X 104485 0 21044 Julie H Ambler Chair Person 2.00 X X 0 0 0 Merida Brooks Secretary 2.00 X X 0 0 0 Steve Austin Chair of Finance Committee 2.00 X X 0 0 0 Derek McCoy Director 1.00 X 0 0 0 Mark Brezina Director 1.00 X 0 0 0 Mikkel Mandt Director 1.00 X 0 0 0 Jeffery Ventrella Director 1.00 X 0 0 0 Melissa Neugebauer Director 1.00 X 0 0 0 Drew Ryan Director 1.00 X 0 0 0 687377 0 97665 4 0 1 0 Brewer Direct Inc 507 S Myrtle Ave Monrovia CA 91016 Printing and Consulting Services 246167 The Parable Group PO Box 3317 San Luis Obispo CA 93403 Advertising 168400 Global Procument 5421 Copper Dr Colorado Springs CO 80918 Printing and shipping 158037 Idisciple 2555 Northwinds Pkwy Alparetta GA 30009 Advertising 116290 4 707600 4467868 86067 5175468 Summit Virtual-Registr 611600 470016 470016 Summit Semester-Tuitio 611600 323125 323125 40660 40660 833801 35240 35240 84852 84852 171985 439195 -267210 -267210 -267210 45932 56657 17147 -10725 -17147 -27872 -27872 1371094 397091 974003 974003 Snow Wolf Lodge 721110 61691 61691 31976 31976 93667 6901949 1807804 61691 -143014 200050 200050 480317 234972 215973 29372 2464635 1849336 194880 420419 65563 45541 8241 11781 518328 366914 68432 82982 234172 166940 30352 36880 17803 10251 2610 4942 25250 14539 10711 10195 10195 162258 104895 10008 47355 587613 347858 119141 120614 282789 240896 6111 35782 150305 132310 13189 4806 75282 56401 813 18068 3231 3009 162 60 1351 230 1121 320930 285723 27935 7272 32153 26594 3967 1592 Summit Sessions 657443 657443 Postage, printing, ship 261033 214403 715 45915 Curriculum Development 134655 134655 Dues and subscriptions 28514 20405 3880 4229 13434 11884 801 749 6727304 5125249 729237 872818 936991 852105 857206 658575 42305 40760 307055 261117 168482 392878 11234364 2977720 8037902 8256644 1474390 1561360 267400 229200 252021 260924 12343752 12513563 350657 386940 136673 54286 40316 17667 527646 458893 X 11179073 11229420 637033 825250 11816106 12054670 12343752 12513563 174645 63919 0 X 0 1 X 1 0 X 3834566 3482852 3573700 4526356 5175468 20592942 4287459 4410939 4839854 4266855 2204895 20010002 8122025 7893791 8413554 8793211 7380363 40602944 2013885 60000 50000 166050 148975 2438910 0 2013885 60000 50000 166050 148975 2438910 38164034 235724 263229 249046 253183 292077 1293259 235724 263229 249046 253183 292077 1293259 608062 31976 640038 8357749 8157020 8662600 9654456 7704416 42536241 0.89720 0.89680 0.03040 0.03220 X Schedule A, Part III, Line 12, Explanation of Other Income: Gain on insurance proceed - 2019 Amount: $ 608,062. Misc income - 2020 Amount: $ 31,976. Schedule A, Part III: The organization is a public charity under section 509(a)(2) and completes Schedule A (Form 990), Part III. The organization has analyzed Schedule A (Form 990), Part II and established that it meets the 33 1/3% public support requirements under sections 509(a)(1) and 170(b)(1)(A)(vi), thus it qualifies to use the first listed special rule for Schedule B (Form 990) reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 549859 9786 559645 471666 78193 549859 492659 -20993 471666 502644 55015 65000 492659 470893 31751 502644 1.00000 0 0 600501 600501 1830313 7511980 2338902 7003391 754769 416244 338525 536801 222574 314227 8256644 Deferred Compensation Payable 17667 17667 7591909 63919 836286 900205 6691704 10195 200050 210245 6901949 7353345 836286 836286 6517059 10195 200050 210245 6727304 Part V, Line 4: The purpose of the endowment fund is to fund scholarships. Income in excess of corpus plus 10% can be distributed for scholarships. Form 990, Schedule D, Part V, Lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 12/31/2020. To date, Schedule D has not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Part XI, Line 2d - Other Adjustments: Rental Expenses 439,195. Cost of Goods Sold 397,091. Part XI, Line 4b - Other Adjustments: Scholarships and Conference Discounts 200,050. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold 397,091. Rental Expenses 439,195. Part XII, Line 4b - Other Adjustments: Scholarships and Conference Discounts 200,050. 1 Scholarship Assistance 146 127849 Conference Discounts 264 72201 Part I, Line 2: Scholarship assistance is provided to individuals based on predetermined criteria and upon recommendation by board members or staff. Assistance is provided in the form of reduced program fees, and recipient achievements are recorded. No cash changes hands, and funds are directly tied to student accounts. X 1 1 X X X X X 0 0 0 0 0 1 0 0 0 Jeff Myers President 264276 0 4290 0 0 0 10900 0 18539 0 298005 0 0 0 Jeff Wood CFO and Treasurer 164367 0 0 0 0 0 6860 0 15374 0 186601 0 0 0 Aaron Atwood VP Advancement 149959 0 0 0 0 0 6039 0 20605 0 176603 0 0 0 Part I, Line 1a Travel for the President's spouse is included in taxable compensation. Part I, Line 6 In 2020, Dr Jeff Myers, President, was paid a bonus based upon the organization's 2019 net income. X 8 79677 Fair market value X Furniture 1 6390 Fair Market Value 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The governing body delegated broad authority to the Executive Committee. The Executive Committee's members include the Chairman and two Directors. The Executive Committee shall have the power to bind Summit Ministries and act on behalf of the entirety of the Board of Directors, provided that, the Executive Committee shall not have the power to delegate any of its powers to any further committee, though it may appoint such committees as it desires for purposes other than to act on behalf of Summit Ministries. By way of example only and without limitation, the Executive Committee may appoint members of additional committees to prepare research and recommend courses of action. Without limiting the foregoing, the Executive Committee shall not have the power to: 1. Elect, appoint or remove any member of the Board of Directors of Summit Ministries; 2. Amend, restate, alter or repeal the Articles of Incorporation or Bylaws of Summit Ministries; 3. Whether in one or a series of transactions exceeding 250k, approve a plan of merger or approve a sale, lease, exchange or other disposition of all or substantially all of the property of Summit Ministries; or 4. Take any other action prohibited by law. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and is reviewed by the organization's accountant and CFO for accuracy. A copy of the return is then provided to the board of directors for their review prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c On an annual basis, board members and officers are required to disclose potential conflicts of interest. The CFO reviews the signed statements and the Chair of the Finance Committee also reviews the CFO's statement. This process is overseen by the Executive Committee of the Board of Directors. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 15a - A compensation review committee, consisting of independent members of the board, is responsible for recommending compensation for the position of President. As part of their process, the compensation review committee references comparability data, including salary and benefits provided to similar positions at similar organizations. The committee then makes a recommendation to the full board, which votes to approve or deny the recommended compensation package. All related deliberations and decisions are documented in the board minutes. 15b - This same compensation review committee is responsible for reviewing and approving compensation for all staff, including the Chief Financial Officer, and follows the same processes as previously outlined for the President. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.