2016-02-12T12:58:49-06:00 2015-06-30 205907591 SMITH LEONARD PLLC 4035 PREMIER DRIVE SUITE 300 HIGH POINT NC 27265 990 2014-07-01 560547519 THE SUMMIT SCHOOL INCORPORATED SUMM 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 DR MICHAEL J EBELING HEAD OF SCHOOL 3367222777 2016-02-11 1 ADDISON R MAILLE P00294569 3368830181 2016-02-10 2014 2016-08-17 19:52:53Z DR MICHAEL J EBELING 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 15227450 0 X WWW.SUMMITSCHOOL.COM X 1938 NC TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 26 26 369 125 0 0 1521887 1047440 12949807 12546521 353201 138168 85199 56494 14910094 13788623 1838139 2388625 0 0 8568057 9152952 0 0 531314 5099584 4737621 15505780 16279198 -595686 -2490575 47777893 45007868 19308321 17214573 28469572 27793295 TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 0 0 12477902 2388625 12603296 EDUCATIONAL INSTRUCTION FOR JR. KINDERGARTEN THROUGH NINTH GRADE, INCLUDING AFTER-SCHOOL PROGRAMS, BUS SERVICES, AND CAFETERIA PROGRAM. APPROXIMATELY 583 STUDENTS ARE ENROLLED. 12477902 1 1 0 0 0 0 0 1 0 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 0 0 0 0 0 0 0 0 1 96 0 1 369 1 0 0 0 0 0 0 0 0 X 26 26 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 ROB MOORE TRUSTEE 0.50 X 0 0 0 MARIE ARCURI TRUSTEE 0.50 X 0 0 0 RICK BAKER VICE-PRESIDENT 1.00 X 0 0 0 JIMMY BROUGHTON TRUSTEE 0.50 X 0 0 0 BEN CARSON PRESIDENT 1.00 X 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 0.50 X X 0 0 0 KIM BAILEY SECRETARY 0.50 X X 0 0 0 MICHAEL HOUGH TRUSTEE 0.50 X 0 0 0 EMILY NEESE TREASURER 1.00 X X 0 0 0 PHIL THOMAS TRUSTEE 0.50 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 BONNIE ZADES TRUSTEE 0.50 X 0 0 0 KAY KING TRUSTEE 0.50 X 0 0 0 CHARLOTTE BROUGHTON TRUSTEE 0.50 X 0 0 0 JENNIFER GROSSWALD TRUSTEE 0.50 X 0 0 0 BILL HOLLAN TRUSTEE 0.50 X 0 0 0 ALEX TURNER TRUSTEE 0.50 X 0 0 0 CARTER STURKIE DIRECTOR OF FINANCE 50.00 X 116267 0 5396 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 TRUSTEE 0.50 X 0 0 0 JENNIFER HUDSON TRUSTEE 0.50 X 0 0 0 MICHAEL EBELING HEAD OF SCHOOL 60.00 X 224893 0 10375 341160 0 15771 2 0 1 0 COMPASS GROUP USA PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 474460 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 JANITORIAL AND SECURITY 261582 CCAC BUILDING SOLUTIONS 1800 FAIRFAX ROAD GREENSBORO NC 27407 HVAC 150375 3 110267 937173 1047440 TUITION 611710 10543459 10543459 AFTERNOON AND OTHER PROGRAMS 611710 938284 938284 AUXILLARY 611710 782296 782296 OTHER SOURCES 611710 282482 282482 12546521 81393 81393 144208 62533 81675 81675 81675 707100 700788 399902 951211 307198 -250423 56775 56775 0 110267 25181 -25181 -25181 13788623 12603296 0 137887 2388625 2388625 415951 415951 6987586 5678737 871294 437555 1285778 1285778 463637 452619 11018 9997 9997 54288 54288 1133208 1059000 74208 49001 49001 726439 349826 282854 93759 59945 59945 383561 383561 26156 26156 91184 91184 286960 286960 1035311 1035311 84318 84318 MISCELLANEOUS 310318 76208 234110 SUMMER PROGRAM 262225 262225 MAINTENANCE 215030 215030 CAFETERIA FOOD 115642 115642 -105962 -105962 16279198 12477902 3269982 531314 8153076 3094330 516883 1246667 876383 708244 548575 58387 31057355 10834730 20918538 20222625 15049533 19953317 1126565 312638 47777893 45007868 1651036 734181 692871 561536 14040000 16675948 288466 1878856 19308321 17214573 X 21833972 20744456 755328 1166847 5880272 5881992 28469572 27793295 47777893 45007868 X -2490575 -545793 88663 2271428 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125525 X EDUCATION 0 15864375 595657 -15325 1093136 15351571 14439815 288068 1825590 689098 15864375 13626051 107705 1422327 716268 14439815 14729221 348233 -661355 752226 37821 13626052 16984297 18822 -1368199 806528 99172 14729220 0.58000 0.38000 0.04000 1 0 977526 977526 28937810 8267503 20670307 1142019 2567227 -1425208 20222625 GAI AGILITY INCOME FUND 5626372 F GLOBAL EQUITIES FUND 6534339 F ABSOLUTE RETURN FUNDS 3252932 F REAL RETURN FUNDS 2073852 F GLOBAL FIXED INCOME FUNDS 1893073 F PRIVATE CAPITAL FUND 545665 F OTHER 27084 F 19953317 LINE OF CREDIT 972155 FAIR VALUE OF INTEREST RATE SWAP 706301 PROGRAM SERVICE FUNDS 181640 OTHER LIABILITIES 18760 1878856 X 13382761 -545793 26087 -519706 13902467 -88663 -25181 -113844 13788623 14059038 -2220160 -2220160 16279198 0 16279198 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 2015 AND 2014. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING THE YEAR ENDED JUNE 30, 2012; 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: NET RENTAL INCOME CHANGE IN VALUE OF INTERST RATE SWAP OTHER PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED DIFFERENTLY INTEREST RATE SWAP OTHER FINANCIAL AID INCLUDED IN REVENUE ON FINANCIAL STATEMENTS 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. AUCTION 110267 110267 8398 600 16183 110267 110267 8398 600 16183 25181 -25181 1 EMPLOYEE TUITION ASSISTANCE 71 1109312 BOOK FINANCIAL AID/SCHOLARSHIPS 134 1279313 BOOK X X X 0 0 0 0 0 0 0 0 0 CARTER STURKIE DIRECTOR OF FINANCE 116267 0 0 0 0 0 0 0 59020 0 175287 0 0 0 MICHAEL EBELING HEAD OF SCHOOL 213643 0 11250 0 0 0 0 0 17608 0 242501 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 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 11 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 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE FILED IN THE BUSINESS OFFICE AND ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL -250,423. CHANGE IN VALUE OF INTEREST RATE SWAP 104,845. OTHER CHANGES IN NET ASSETS 3,200. FINANCIAL AID INCLUDED IN REVENUE ON FINANCIAL STATEMENTS 2,388,625. FUNDRAISING EXPENSES 25,181.