2019-05-23T13:41:31-05:00 2018-12-31 363990892 Capin Crouse LLP 2435 Research Parkway STE 200 Colorado Springs CO 80920 990 2018-01-01 730792333 Summit Ministries Inc SUMM 7196859103 PO Box 207 Manitou Springs CO 80829 Dr Jeff Myers President 7196859103 2019-05-23 1 Ted R Batson Jr P00721951 7195286225 139.146.132.42 2019-05-23 14:41:21 ED P CA177696A4D99EE0DAF541F2998F61B00ECBF813 D011365EDF863E6A791080D7DAC99DCFDF1A3852 2018 2019-02-21 02:37:17Z Dr Jeff Myers PO Box 207 Manitou Springs CO 80829 8773166 0 X www.summit.org X 1970 CO Equipping tomorrow's leaders to analyze competing worldviews and champion the Christian faith. 10 9 228 7 -186199 -187699 3482852 3573700 3153855 3430796 53330 49249 733280 712397 7423317 7766142 169008 631336 0 0 2763977 3619631 0 0 749567 3575756 3991209 6508741 8242176 914576 -476034 12431154 11589566 1362106 1111081 11069048 10478485 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 2168291 539296 2896706 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 two-week conferences feature over 70 hours of instruction in worldview analysis, Christian apologetics, and leadership from a faculty of world-class instructors. Summer conferences are held in Colorado, California, and Tennessee. 1009701 1042247 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. 299507 92040 387990 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. 29077 37655 Adult Conferences - Designed to equip parents, teachers, pastors, and lay leaders to understand the biblical Christian, Islamic, Postmodern, Secular Humanist, Marxist and New Age worldviews, as well as the cultural issues where these worldviews battle for supremacy. 3164762 -69759 Other Programs - Alumni Network, consulting and honorariums, program related rental activity. 3193839 -32104 6671338 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 1 119 0 1 228 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 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN TX UT VA WA WI WV X Jeff Wood 7196859103 PO Box 207 Manitou Springs CO 80829 Jeff Myers President 40.00 X X 209098 0 20935 Julie H Ambler Director, Chairman 2.00 X X 0 0 0 Merida Brooks Director, Secretary 2.00 X X 0 0 0 Steve Austin Director 2.00 X X 0 0 0 Mark Brezina Director 1.00 X 0 0 0 Mikkel Mandt Director 1.00 X 0 0 0 Michael Francisco 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 Tony Jeffrey Director 1.00 X 0 0 0 Jeff Wood CFO / Treasurer 40.00 X 141695 0 18749 Aaron Atwood VP Advancement 40.00 X 139086 0 25445 Scott Northway VP Programs 40.00 X 112435 0 21711 602314 0 86840 4 0 1 0 Global Procurement Solutions PO Box 678 Penrose CO 81240 Publishing printer 220612 Trump Old Post Office LLC 1100 Pennsylvania Ave NW Washington DC 20004 Partners Conference host location 180834 Oracle America Inc 2955 Campus Drive Ste 100 San Mateo CA 94403 NetSuite supplier 130509 3 3573700 183510 3573700 Conference Revenue 611600 3100681 3100681 Student Activity 611600 98152 98152 College Credit Program 611600 74710 74710 Training & Support 611600 21970 21970 Consulting 611600 1750 1750 133533 133533 3430796 45919 45919 34553 34553 168574 102561 273027 288760 -104453 -186199 -290652 -104453 -186199 8005 -9171 13846 17176 -13846 3330 3330 1409058 440562 968496 968496 7766142 4294839 -186199 83802 631336 631336 391030 209774 169602 11654 2397048 1974839 256637 165572 45645 37206 4598 3841 564728 426318 97523 40887 221180 166970 38196 16014 23916 3810 19961 145 24275 14055 4030 6190 13977 13977 229363 132827 38034 58502 852568 522904 117 329547 291998 232310 38554 21134 364383 282833 73922 7628 164876 138724 5600 20552 13271 11982 108 1181 256646 217277 35847 3522 Summit Sessions 1424719 1415407 615 8697 Curriculum Development 149837 149837 Postage, printing, ship 125676 71694 7325 46657 Dues and subscriptions 43457 28754 6969 7734 12247 2481 9656 110 8242176 6671338 821271 749567 X 1368644 945962 11197 7524 50000 119568 26808 366754 420710 132283 122411 11466865 3385694 7925973 8081171 1354718 1252030 343800 305600 808217 377350 12431154 11589566 1047007 445136 32425 203974 200000 400000 82674 61971 1362106 1111081 X 8505784 7871050 2563264 2607435 11069048 10478485 12431154 11589566 -476034 -114529 0 X X 0 1 X 1 0 X 2365018 1990862 3834566 3482852 3573700 15246998 4020764 4346864 4287459 4410939 4839854 21905880 6385782 6337726 8122025 7893791 8413554 37152878 0 0 0 37152878 229646 334045 235724 263229 249046 1311690 229646 334045 235724 263229 249046 1311690 6615428 6671771 8357749 8157020 8662600 38464568 0.96590 0.96550 0.03410 0.03370 X 492659 -20993 471666 502644 55015 65000 492659 470893 31751 502644 488829 -7136 10800 470893 490662 23167 25000 488829 1.00000 0 0 800501 800501 700000 8796650 2621532 6875118 877408 568066 309342 292306 196096 96210 8081171 Deferred Compensation Payable 61971 61971 8008649 -114529 1002349 887820 7120829 13977 631336 645313 7766142 8599212 1002349 1002349 7596863 13977 631336 645313 8242176 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. Part XI, Line 2d - Other Adjustments: Rental Expenses 561,787. Cost of Goods Sold 440,562. Part XI, Line 4b - Other Adjustments: Scholarships and Conference Discounts 631,336. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold 440,562. Rental Expenses 561,787. Part XII, Line 4b - Other Adjustments: Scholarships and Conference Discounts 631,336. 1 Scholarship Assistance 299 225980 Conference Discounts 1026 405356 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. Conference discounts of varying amounts are available to participants based on the date the participants register for the conference. 1 X X X X X 0 0 0 0 0 0 0 0 0 Jeff Myers President 209098 0 0 0 0 0 6759 0 14305 0 230162 0 0 0 Jeff Wood CFO / Treasurer 141695 0 0 0 0 0 5823 0 13056 0 160574 0 0 0 Aaron Atwood VP Advancement 139086 0 0 0 0 0 5554 0 20022 0 164662 0 0 0 X 7 183510 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 Julie Ambler, Mike Mandt, and Michael Francisco, each of whom are also members of the governing body. 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, and the CFO reviews the signed statements. 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. Form 990, Part X, Lines 27-29: 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 12/31/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing Form 990, Part X, Lines 27-29 as follows: Net assets without donor restrictions: $7,871,050 Net assets with donor restrictions: 2,607,435 Total net assets: $10,478,485 Line 27 Unrestricted net assets: $7,871,050 Line 28 Temporarily restricted net assets: 0 Line 29 Permanently restricted net assets: 2,607,435 Total net assets: $10,478,485 Form 990, Part XII, Line 2c: The Audit Committee of the Board of Directors is responsible for oversight of the audit of the organizations financial statements, and selection of the independent accounting firm used. This process has not changed from the prior year.