2020-05-10T16:42:10-05:00 2019-12-31 363990892 Capin Crouse LLP 2435 Research Parkway STE 200 Colorado Springs CO 80920 990 2019-01-01 730792333 Summit Ministries Inc SUMM 7196859103 PO Box 207 Manitou Springs CO 80829 Dr Jeff Myers President 7196859103 2020-05-10 1 Ted R Batson Jr P00721951 7195286225 139.146.132.42 2020-05-10 17:42:02 ED P DA7D234393F14868176960D288377182B391DB6A D454F70ADCB91C94F0D2C0A151FA0D9108FA9D12 2019 2020-09-23 17:36:50Z Dr Jeff Myers PO Box 207 Manitou Springs CO 80829 10538530 0 X www.summit.org X 1970 CO Equipping tomorrow's leaders to analyze competing worldviews and champion the Christian faith. 10 9 206 18 -206758 -208258 3573700 4526356 3430796 2931391 49249 81831 712397 1034153 7766142 8573731 631336 202490 0 0 3619631 3678768 0 0 896976 3991209 3525002 8242176 7406260 -476034 1167471 11589566 12343752 1111081 527646 10478485 11816106 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 1329064 117330 2376476 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, Pennsylvania, and Tennessee. 891222 897039 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. 275617 85160 415531 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. 3203126 76979 Other Programs - Alumni network, consulting and honorariums, and program-related rental activity. 3203126 76979 5699029 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 1 113 0 1 206 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 259647 0 26939 Jeff Wood CFO and Treasurer 40.00 X 151523 0 20457 Aaron Atwood VP Advancement 40.00 X 139391 0 25874 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 Mark Brezina Director 1.00 X 0 0 0 Mikkel Mandt Director 1.00 X 0 0 0 Jeffrey 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 Derek McCoy Director 1.00 X 0 0 0 550561 0 73270 3 0 1 0 Veteran Roofing 7550 W Yale Ave Suite a-220 Denver CO 80227 Roofing Contractor 662063 Global Procurement Solutions 1760 16th Street Penrose CO 81240 Publishing Printer 298478 ID Digital 3031 Grand Ave 192 Billings MT 59102 Advertising Services 209398 Cheyenne Mountain Resort 3225 Broadmoor Valley Rd Colorado Springs CO 80906 Partners Conference Host 177150 Oracle America Inc 2955 Campus Dr Ste 100 San Mateo CA 94403 NetSuite Supplier Service 148092 11 4526356 88779 4526356 Conference Revenue 611600 2604436 2604436 Student Activity 611600 107733 107733 College Credit Program 611600 72850 72850 Training & Support 611600 23300 23300 Consulting 611600 15700 15700 107372 107372 2931391 39948 39948 77200 77200 136035 106397 415020 313155 -278985 -206758 -485743 -206758 -278985 78035 699642 51482 684312 26553 15330 41883 41883 1335464 500830 834634 834634 Gain insurance proceed 900099 608062 608062 608062 8573731 3766025 -206758 488108 202490 202490 459542 228087 149156 82299 2424604 1971655 189116 263833 60026 47571 5082 7373 504094 373947 63374 66773 230502 167667 31671 31164 34711 20976 10434 3301 25625 25625 11535 11535 222521 117720 13235 91566 663440 315348 171865 176227 416837 340685 9833 66319 197470 119671 65312 12487 119863 95411 3080 21372 27748 24543 292 2913 3918 681 3237 262618 225038 34486 3094 32033 22750 5744 3539 Summit Sessions 1240999 1240999 Curriculum Development 121329 121329 Postage, printing, ship 103622 38614 6093 58915 Dues and subscriptions 36382 20173 10466 5743 4351 3674 619 58 7406260 5699029 810255 896976 945962 936991 7524 857206 50000 26808 42305 420710 307055 122411 168482 11434248 3396346 8081171 8037902 1252030 1474390 305600 267400 377350 252021 11589566 12343752 445136 350657 203974 136673 400000 61971 40316 1111081 527646 X 7871050 11179073 2607435 637033 10478485 11816106 11589566 12343752 1167471 170150 0 X X 0 1 X 1 0 X 1990862 3834566 3482852 3573700 4526356 17408336 4346864 4287459 4410939 4839854 4266855 22151971 6337726 8122025 7893791 8413554 8793211 39560307 68000 2013885 45000 50000 164550 2341435 0 68000 2013885 45000 50000 164550 2341435 37218872 334045 235724 263229 249046 253183 1335227 334045 235724 263229 249046 253183 1335227 608062 608062 6671771 8357749 8157020 8662600 9654456 41503596 0.89680 0.96590 0.03220 0.03410 X Schedule A, Part III, Line 12, Explanation of Other Income: Gain on insurance proceed - 2019 Amount: $ 608,062. 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 471666 78193 549859 492659 -20993 471666 502644 55015 65000 492659 470893 31751 502644 488829 -7136 10800 470893 1.00000 0 0 600501 600501 1880032 7835387 2560320 7155099 840073 627576 212497 278255 208450 69805 8037902 Deferred Compensation Payable 40316 40316 9758861 170150 1229005 1399155 8359706 11535 202490 214025 8573731 8421240 1229005 1229005 7192235 11535 202490 214025 7406260 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 728,175. Cost of Goods Sold 500,830. Part XI, Line 4b - Other Adjustments: Scholarships and Conference Discounts 202,490. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold 500,830. Rental Expenses 728,175. Part XII, Line 4b - Other Adjustments: Scholarships and Conference Discounts 202,490. 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 12/31/2019. 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 1 Scholarship Assistance 226 202490 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 0 0 0 0 Jeff Myers President 259647 0 0 0 0 0 10674 0 16752 0 287073 0 0 0 Jeff Wood CFO and Treasurer 151523 0 0 0 0 0 6238 0 14707 0 172468 0 0 0 Aaron Atwood VP Advancement 139391 0 0 0 0 0 5391 0 20963 0 165745 0 0 0 Part I, Line 1a Travel for the President's spouse is included in taxable compensation. X 8 88779 Fair market value 0 0 1 0 Part I, Column (b): The number of contributions represents 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, 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 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.