2018-05-15T09:03:19-05:00 2017-06-30 205907591 SMITH LEONARD PLLC 4035 PREMIER DRIVE SUITE 300 HIGH POINT NC 27265 990 2016-07-01 560547519 THE SUMMIT SCHOOL INCORPORATED SUMM 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 DR MICHAEL J EBELING HEAD OF SCHOOL 3367222777 2018-05-14 1 ADRIENNE MCKINNEY P00819656 3368830181 2018-05-14 2016 2022-09-23 18:48:47Z DR MICHAEL J EBELING 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 17903415 0 X WWW.SUMMITSCHOOL.COM X 1938 NC TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 24 24 406 125 0 0 1312319 1047625 15058931 15563071 751275 1168571 6488 56759 17129013 17836026 2409522 2538001 0 0 9424711 9670942 0 0 565939 5083989 5155856 16918222 17364799 210791 471227 43051350 43847616 16305963 15199922 26745387 28647694 TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 0 0 12988381 2538001 16306286 EDUCATIONAL INSTRUCTION FOR JR. KINDERGARTEN THROUGH NINTH GRADE, INCLUDING AFTER-SCHOOL PROGRAMS, BUS SERVICES, AND CAFETERIA PROGRAM. APPROXIMATELY 639 STUDENTS ARE ENROLLED. 12988381 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 406 1 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CARTER STURKIE 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 CURT BATTEN TRUSTEE 0.50 X 0 0 0 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 JIM BUNN TRUSTEE 0.50 X 0 0 0 MATT CULLINAN TRUSTEE 1.00 X 0 0 0 PARKER GRUBBS TRUSTEE 0.50 X 0 0 0 CHARLES DOUGLAS TRUSTEE 0.50 X 0 0 0 SANDLIN DOUGLAS TRUSTEE 0.50 X 0 0 0 KAY D KING TRUSTEE 0.50 X 0 0 0 CLAUDETTE WESTON 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 STUBBS TREASURER 2.00 X X 0 0 0 JENNIFER HUDSON TRUSTEE 0.50 X 0 0 0 KIM BAILEY SECRETARY 2.00 X X 0 0 0 PENNI BRADSHAW TRUSTEE 0.50 X 0 0 0 JENNIFER BYRNE TRUSTEE 0.50 X 0 0 0 WESLEY DAVIS TRUSTEE 0.50 X 0 0 0 TONYA DEEM TRUSTEE 0.50 X 0 0 0 PAUL GROSSWALD 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 MICHAEL EBELING HEAD OF SCHOOL 60.00 X 223657 0 23466 CARTER STURKIE DIRECTOR OF FINANCE 50.00 X 110592 0 40458 334249 0 63924 2 0 1 0 COMPASS GROUP USA PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 705623 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 LANDSCAPING & JANITORIAL 264040 CCAC BUILDING SOLUTIONS 1800 FAIRFAX ROAD STE A GREENSBORO NC 27407 HVAC 142523 EF EDUCATIONAL TOURS 2 EDUCATION CIRCLE CAMBRIDGE MA 02141 EDUCATIONAL TOURS/TRIPS 127050 4 1047625 1047625 TUITION 611710 13862031 13862031 AUXILLARY 611710 851514 851514 AFTERNOON AND OTHER PROGRAMS 611710 817341 817341 OTHER SOURCES 611710 32185 32185 15563071 425356 425356 124148 67389 56759 56759 56759 742915 300 0 0 742915 300 743215 743215 17836026 16306286 0 482115 2538001 2538001 351248 351248 7326834 5930716 909964 486154 336203 336203 1186382 1186382 470275 466722 3553 11521 11521 71952 71952 87589 87589 1337455 1273737 63718 47177 47177 775314 344140 351389 79785 82822 82822 354993 354993 37953 37953 140962 15953 125009 293272 293272 1003754 959204 44550 86321 86321 MISCELLANEOUS 280454 126528 153926 MAINTENANCE 213867 213867 SUMMER PROGRAM 190899 190899 CAFETERIA FOOD 139551 139551 17364799 12988381 3810479 565939 1387362 1305120 276240 989115 797247 536942 487852 31570209 12549823 19585389 19020386 20162374 21596628 390168 364143 43051350 43847616 801863 873101 462667 881970 13440000 12840000 171523 1601433 433328 16305963 15199922 X 19903939 21436744 958986 1325231 5882462 5885719 26745387 28647694 43051350 43847616 X 471227 1109948 321132 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125525 X EDUCATION 0 0 1 X 14043378 40251 1552331 727500 14908460 15351571 105859 -689852 724200 14043378 15864375 595657 -15325 1093136 15351571 14439815 288068 1825590 689098 15864375 13626051 107705 1422327 716268 14439815 0.57950 0.39570 0.02480 1 0 977525 977525 27294599 9845670 17448929 2637625 2100531 537094 660460 603622 56838 19020386 GAI AGILITY INCOME FUND 6858877 F GLOBAL EQUITIES FUND 4985480 F ABSOLUTE RETURN FUNDS 3619268 F REAL RETURN FUNDS 2086795 F GLOBAL FIXED INCOME FUNDS 2521432 F PRIVATE CAPITAL FUND 1477421 F OTHER 47355 F 21596628 LINE OF CREDIT 128608 FAIR VALUE OF INTEREST RATE SWAP 304720 433328 X 16708905 1109948 -2216869 -1106921 17815826 87589 -67389 20200 17836026 14806598 67389 67389 14739209 87589 2538001 2625590 17364799 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 IV, LINE 1B: FUNDS HELD FOR OTHERS ARE UNEXPENDED STUDENT ACTIVITY FUNDS. PART IV, LINE 2B: FUNDS HELD FOR OTHERS ARE UNEXPENDED STUDENT ACTIVITY FUNDS. 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 2017 AND 2016. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING THE YEAR ENDED JUNE 30, 2014; 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 31,796. CHANGE IN VALUE OF INTERST RATE SWAP 289,336. SCHOLARSHIPS INCLUDED IN REVENUE ON FINANCIAL STATEMENTS -2,538,001. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH REVENUE ON 990 -67,389. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH REVENUE ON 990 67,389. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INCLUDED IN REVENUE ON FINANCIAL STATEMENTS 2,538,001. 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: THE FINANCIAL AID FOR DIVERSITY FUNDS ARE FOR NEED-BASED FINANCIAL AID FOR MINORIITY STUDENTS. THE JOE H PARRISH SPORTS MEMORIAL FUND WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING SUPPORT FOR THE SPORTS DEPARTMENT. THE 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. THE JESSICA MARSHA WOLFMAN EXCHANGE FUND WAS ESTABLISHED FOR THE PURPOSE OF HELPING STUDENTS PARTICIPATE IN THE EXCHANGE PROGRAM AND OTHER SCHOOL SPONSORED TRIPS. THE FACULTY SUPPORT FUND WAS ESTABLISHED TO PROVIDE SALARIES, BENEFITS AND PROFESSIONAL GROWTH OPPORTUNITIES FOR FACULTY. THE TEACHING/LEARNING CENTER OUTREACH FUND WAS ESTABLISHED TO SUPPORT OUTREACH PROGRAMS UTILIZING THE TEACHING/LEARNING CENTER ACTIVITIES TRHOUGH PUBLICATION, SEMINARS, WORKSHOPS, OUTSIDE RESOURCE TEACHERS AND EXPLANATORY AIDS FOR TEACHERS AND VISITORS. THE 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. THE PERKINSON FAMILY TRAVEL FUND WAS ESTABLISHED TO HELP STUDENTS IWTH DEMONSTRATED FINANCIAL NEED ENRICH THEIR EDUCATIONAL EXPERIENCES BY PARTICIPATING IN SCHOOL-ENDORSED TRIPS. THE GENERAL AND SUMMIT SCHOOL FUNDS WERE ESTABLISHED FOR THE THE PURPOSE OF PROVIDING OVERALL SUPPORT FOR THE SCHOOL. THE THOMAS A GRAY ENDOWMENT INCOME IS MADE AVAILABLE EACH YEAR TO THE HEAD OF THE SCHOOL TO BE USED AT HIS/HER'S DISCRETION. THE MICHELLE LACHAT FINANCIAL AID FUND AND CHRISTIAN SISTERS' FINANCIAL AID FUND WERE ESTABLISHED 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. 1 EMPLOYEE TUITION ASSISTANCE 88 1168562 BOOK FINANCIAL AID/SCHOLARSHIPS 139 1369439 BOOK X X X 0 0 0 0 0 0 0 0 0 MICHAEL EBELING HEAD OF SCHOOL 211657 0 12000 0 0 0 10875 0 12591 0 247123 0 0 0 CARTER STURKIE DIRECTOR OF FINANCE 110592 0 0 0 0 0 6124 0 34334 0 151050 0 0 0 A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PGJ2 2008-06-18 16700000 THE BOND ISSUE WILL BE USED FOR NEW CONSTRUCTION. 0 0 0 A 3860000 16700000 143900 71100 16485000 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 FORM 990, PART VI, SECTION B, LINE 11B 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 COPIES OF FORM 990 AND 1023 ARE FILED IN THE HEAD'S OFFICE AND ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF DOCUMENTS REQUIRED TO BE OPEN TO PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 289,336. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST 31,796.