2020-07-14T16:34:35-05:00 2019-06-30 205907591 SMITH LEONARD PLLC 4035 PREMIER DRIVE SUITE 300 HIGH POINT NC 27265 990 2018-07-01 560547519 THE SUMMIT SCHOOL INCORPORATED SUMM 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 DR MICHAEL J EBELING HEAD OF SCHOOL 3367222777 2020-07-14 1 ADRIENNE MCKINNEY P00819656 3368830181 2020-07-14 216.237.202.66 2020-07-14 11:21:21 ED P 63B3CDAA9C4072EEB47B7B98275442971F727DE4 63B3CDAA9C4072EEB47B7B98275442971F727DE4 2018 2021-01-29 14:40:06Z DR MICHAEL J EBELING 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 17904155 0 X WWW.SUMMITSCHOOL.COM X 1938 NC TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 23 23 368 135 0 0 1231254 1106972 15495566 15488586 836948 744762 -40935 148247 17522833 17488567 2408666 2473824 0 0 9978949 10026128 0 0 624116 5551329 5379475 17938944 17879427 -416111 -390860 43596741 42379224 14875756 13932286 28720985 28446938 TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 0 0 13643779 2473824 15488586 EDUCATIONAL INSTRUCTION FOR JR. KINDERGARTEN THROUGH NINTH GRADE, INCLUDING AFTER-SCHOOL PROGRAMS, BUS SERVICES, AND CAFETERIA PROGRAM. APPROXIMATELY 587 STUDENTS ARE ENROLLED. 13643779 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 85 0 1 368 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X CARTER STURKIE 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 RICK BAKER CHAIR 3.00 X X 0 0 0 BEN CARSON TRUSTEE 0.50 X 0 0 0 MARK CONGER TRUSTEE 0.50 X 0 0 0 KATE MICHALEK TRUSTEE 0.50 X 0 0 0 DAVID AHN TRUSTEE 0.50 X 0 0 0 KAMI CHAVIS TRUSTEE 0.50 X 0 0 0 SANDLIN DOUGLAS TRUSTEE 0.50 X 0 0 0 MICHAEL ROGERS TRUSTEE 0.50 X 0 0 0 RICHARD GOTTLIEB TRUSTEE 0.50 X 0 0 0 LAUREN DUNN TRUSTEE 0.50 X 0 0 0 CARLIE EUBANKS TREASURER 2.00 X X 0 0 0 JENNIFER HUDSON TRUSTEE 0.50 X 0 0 0 JENNIFER BYRNE SECRETARY 2.00 X X 0 0 0 WESLEY DAVIS TRUSTEE 0.50 X 0 0 0 TONYA DEEM TRUSTEE 0.50 X 0 0 0 LIBBY KELLY TRUSTEE 0.50 X 0 0 0 SHELLEY HOLDEN TRUSTEE 0.50 X 0 0 0 RICK MALOY TRUSTEE 0.50 X 0 0 0 PAM OLIVER TRUSTEE 0.50 X 0 0 0 JOE PARRISH TRUSTEE 0.50 X 0 0 0 PENNI BRADSHAW TRUSTEE 0.50 X 0 0 0 MATTHEW HORNADAY TRUSTEE 0.50 X 0 0 0 SIENNA HARGROVE-LEAK TRUSTEE 0.50 X 0 0 0 MICHAEL EBELING HEAD OF SCHOOL 60.00 X 242350 0 37046 CARTER STURKIE DIRECTOR OF FINANCE 50.00 X 115751 0 29515 358101 0 66561 2 0 1 0 FLIK INDEPENDENT SCHOOLS PO BOX 417632 BOSTON MA 02241 FOODSERVICE AND CATERING 928490 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 CUSTODIAL AND LANDSCAPING 283116 CCAC BUILDING SOLUTIONS 1800 FAIRFAX ROAD STE A GREENSBORO NC 27407 HVAC 119349 3 192182 914790 12100 1106972 TUITION 611710 13718044 13718044 AFTERNOON AND OTHER PROGRAMS 611710 927637 927637 AUXILLARY 611710 821822 821822 OTHER SOURCES 611710 21083 21083 15488586 268277 268277 147204 93459 53745 53745 53745 730900 253616 799 477284 -799 476485 476485 162216 192182 67714 94502 94502 17488567 15488586 0 893009 2473824 2473824 424651 27930 298933 97788 7661597 6562496 690017 409084 308035 224179 65276 18580 1158883 204276 941400 13207 472962 472962 12308 12308 51494 51494 87874 87874 1498377 1387385 110992 63120 63120 710790 367038 258295 85457 50015 50015 367952 367952 38629 38629 123477 14117 109360 385801 385801 956944 856136 100808 83808 83808 MISCELLANEOUS 287172 164248 122924 CURRICULUM & SUPPLIES 233631 233631 IMPAIRMENT OF FIXED ASS 166360 166360 MAINTENANCE 163795 163795 97928 73795 24133 17879427 13643779 3611532 624116 1340456 933841 1305024 1132580 525120 390280 546020 320151 201513 95878 32173159 13716357 18855478 18456802 2859405 20533861 17900005 289269 290282 43596741 42379224 853829 842542 858837 631969 12182933 11590738 183916 185156 796241 681881 14875756 13932286 X 21416894 21231255 1325148 1234390 5978943 5981293 28720985 28446938 43596741 42379224 X -390860 286603 115711 -285501 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125525 X EDUCATION 0 0 1 14983483 132917 708813 48777 903083 14873353 14908460 118964 930497 974438 14983483 14043378 40251 1552331 727500 14908460 15351571 105859 -689852 724200 14043378 15864375 595657 -15325 1093136 15351571 0.56670 0.43330 1 0 1680348 1680348 27040811 10931339 16109472 2779180 2201771 577409 672820 583247 89573 18456802 GLOBAL EQUITIES FUND 5232996 F ABSOLUTE RETURN FUNDS 3347473 F REAL RETURN ASSET FUNDS 2336152 F GLOBAL FIXED INCOME FUNDS 1626284 F PRIVATE CAPITAL FUND 2132764 F OTHER 44974 F OFFSHORE FUNDS 3179362 F 17900005 LINE OF CREDIT 287902 FAIR VALUE OF INTEREST RATE SWAP 393979 681881 X 15089143 286602 -2759325 -2472723 17561866 87874 -161173 -73299 17488567 15478901 161173 161173 15317728 87875 2473824 2561699 17879427 PART III, LINE 4: THE ARTWORK CONSISTS OF OVER 75 INDIVIDUAL PIECES OF OIL PAINTINGS, NATIVE AMERICAN ART, SCULPTURES, PRINTS, LITHOGRAPHS, WATER COLORS, PHOTOGRAPHS, WOOD BLOCKS, AND OTHER VARIOUS ART FORMS. THE ARTWORK IS MAINTAINED BY SCHOOL FOR EDUCATIONAL AND INSTRUCTIONAL PURPOSES. PART X, LINE 2: IT IS THE SCHOOL'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2019 AND 2018. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING THE YEAR ENDED JUNE 30, 2016; HOWEVER, NO EXAMINATIONS ARE IN PROCESS. ANY CHANGES IN THE AMOUNT OF A TAX POSITION AS WELL AS RELATED PENALTIES AND INTEREST WILL BE RECOGNIZED IN THE PERIOD THE CHANGE OCCURS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST 602. SCHOLARSHIPS INCLUDED IN REVENUE ON FINANCIAL STATEMENTS -2,473,824. CHANGE IN VALUE OF INTEREST RATE SWAP -286,103. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH REVENUE ON 990 -93,459. FUNDRAISING EXPENSES -67,714. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH REVENUE ON 990 93,459. FUNDRAISING EXPENSES 67,714. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INCLUDED IN REVENUE ON FINANCIAL STATEMENTS 2,473,824. OTHER EXPLANATIONS FOR SCHEDULE D, BELOW: PART III, LINE 4: DONATIONS OF ART ARE AUCTIONED OFF AND THE REVENUES ARE PUT INTO THE GENERAL FUND FOR THE OPERATIONS OF THE SCHOOL. PART V, LINE 4: FACULTY SUPPORT FUND WAS ESTABLISHED FROM DONOR-RESTRICTED GIFTS FOR THE PURPOSE OF PROVIDING SALARIES, BENEFITS AND PROFESSIONAL GROWTH OPPORTUNITIES FOR FACULTY. GENERAL AND SUMMIT SCHOOL FUNDS WERE ESTABLISHED FOR THE PURPOSE OF PROVIDING OVERALL SUPPORT FOR THE SCHOOL. FINANCIAL AID FOR DIVERSITY FUND WAS ESTABLISHED FROM DONOR-RESTRICTED GIFTS FOR THE PURPOSE OF NEED-BASED FINANCIAL AID FOR MINORITY STUDENTS. MARIAN MILLAWAY '69 DOUGLAS AWARD FOR FACULTY EXCELLENCE FUND WAS ESTABLISHED TO REWARD TEACHERS WHOSE EXCELLENCE AND ENTHUSIASM SPARK THE FLAME OF LEARNING IN STUDENTS. DEBELL SCHOLARSHIP FUND WAS ESTABLISHED TO SUPPORT FINANCIAL AID FOR DESERVING STUDENTS WHOSE FAMILY WOULD NOT OTHERWISE BE ABLE TO AFFORD AN INDEPENDENT SCHOOL EDUCATION. PERKINSON FAMILY TRAVEL FUND WAS ESTABLISHED TO HELP STUDENTS WITH DEMONSTRATED FINANCIAL NEED, ENRICH THEIR EDUCATIONAL EXPERIENCES BY PARTICIPATING IN SCHOOL-ENDORSED TRIPS. JESSICA MARSHA WOLFMAN EXCHANGE WAS ESTABLISHED FROM DONOR-RESTRICTED GIFTS FOR THE PURPOSE OF HELPING STUDENTS PARTICIPATE IN THE EXCHANGE PROGRAM AND OTHER SCHOOL-SPONSORED TRIPS. JOE H. PARRISH SPORTS MEMORIAL WAS ESTABLISHED FROM DONOR-RESTRICTED GIFTS FOR THE PURPOSE OF PROVIDING SUPPORT FOR THE SPORTS DEPARTMENT. MICHELLE LACHAT FINANCIAL AID AND CHRISTIAN SISTERS' FINANCIAL AID FUND WERE ESTABLISHED FROM DONOR-RESTRICTED GIFTS FOR THE PURPOSE OF PROVIDING FINANCIAL AID TO QUALIFIED STUDENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHED THEIR NONDISCRIMINATORY POLICY IN THE LOCAL NEWSPAPERS OF GENERAL CIRCULATION THAT SERVES ALL RACIAL SEGMENTS OF THE COMMUNITY. GALA/AUCTION 354398 192182 162216 19188 19690 3250 25586 354398 192182 162216 19188 19690 3250 25586 67714 94502 1 EMPLOYEE TUITION ASSISTANCE 79 1042339 BOOK FINANCIAL AID/SCHOLARSHIPS 124 1431485 BOOK X X X 0 0 0 0 0 0 0 0 0 MICHAEL EBELING HEAD OF SCHOOL 218350 0 24000 0 0 0 12250 0 24796 0 279396 0 0 0 A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 2018-05-10 12840000 REFINANCE OF 2008 BONDS ISSUED FOR FACILTY CONSTRUCTION 0 0 0 A 600000 12840000 117067 12840000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X 3 5100 RESEARCH X BOX/SUITE 1 7000 0 1 1 PART I, LINE 33: THE THIRD PARTY SOFTWARE COMPANY, 501 AUCTIONS, WAS USED FOR A ONE-TIME PURPOSE TO FACILIATE THE SALE OF NONCASH CONTRIBUTIONS THAT WERE DONATED TO BE SOLD AT THE SPRING 2019 LIGHTS, CAMERA, AUCTION GALA. FORM 990, PART VI, SECTION B, LINE 11B THE PUBLIC INSPECTION COPY OF THE 990 IS REVIEWED BY ALL BOARD MEMBERS VIA POSTING TO A SECURE WEBSITE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ADMINISTRATORS OF THE SCHOOL SUPERVISE RELATIONSHIPS AND TRANSACTIONS ON AN ONGOING BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF HEAD OF SCHOOL IS DETERMINED USING COMPARABILITY DATA PROVIDED BY NAIS SCHOOL. THEY ALSO USE INFORMATION REPORTED ON OTHER SCHOOLS' FORM 990. THE OFFICERS AND KEY EMPLOYEES COMPENSATION IS DETERMINED BY THE HEAD OF THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST -286,103. CHANGE IN VALUE OF INTEREST RATE SWAP 602.