2013-02-06T15:01:49-06:00 2012-06-30 205907591 SMITH LEONARD PLLC 4035 PREMIER DRIVE SUITE 300 HIGH POINT NC 27265 990 2011-07-01 560547519 THE SUMMIT SCHOOL INCORPORATED SUMM 3367222777 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 DR MICHAEL J EBELING 3367222777 2013-02-05 1 JANICE SEVERT P00522710 3368830181 2011 2016-02-25 16:41:14Z DR MICHAEL J EBELING 2100 REYNOLDA ROAD WINSTONSALEM NC 27106 25406036 0 X WWW.SUMMITSCHOOL.COM X 1938 NC TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 25 25 270 100 0 0 1097604 1598745 9801790 10165445 1815801 -23928 101812 68647 12817007 11808909 1563359 1553890 0 0 6701616 6736840 0 0 285610 3964732 4378586 12229707 12669316 587300 -860407 47218294 47561008 19418537 20786864 27799757 26774144 TO PROVIDE A CHALLENGING CURRICULUM WITHIN A CARING ENVIRONMENT TO HELP STUDENTS DEVELOP THEIR FULL POTENTIAL. 0 0 9617471 1553890 10165445 EDUCATIONAL INSTRUCTION FOR JR. KINDERGARTEN THROUGH NINTH GRADE, INCLUDING AFTER-SCHOOL PROGRAMS, BUS SERVICES, AND CAFETERIA PROGRAM. APPROXIMATELY 510 STUDENTS ARE ENROLLED. 9617471 1 1 0 0 0 0 0 1 0 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 0 1 56 0 270 0 0 0 0 0 0 0 0 0 X 25 25 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 0.50 X 0 0 0 MARIE ARCURI 0.50 X 0 0 0 JIMMY BROUGHTON 1.00 X X 0 0 0 BEN CARSON 0.50 X X 0 0 0 MARK CONGER 2.00 X X 0 0 0 SANDLIN DOUGLAS 0.50 X 0 0 0 MATT CULLINAN 0.50 X 0 0 0 KIM BAILEY 0.50 X 0 0 0 MICHAEL HOUGH 0.50 X 0 0 0 EMILY NEESE 2.00 X X 0 0 0 PHIL THOMAS 0.50 X 0 0 0 PARKER GRUBBS 0.50 X 0 0 0 DIANE NEAL-BLIXT 0.50 X 0 0 0 ERNIE OSBORN 0.50 X 0 0 0 BONNIE ZADES 0.50 X 0 0 0 JIM MARTIN 0.50 X 0 0 0 CHARLOTTE BROUGHTON 0.50 X 0 0 0 JENNIFER GROSSWALD 0.50 X 0 0 0 BILL HOLLAN 0.50 X 0 0 0 ALEX TURNER 0.50 X 0 0 0 JIM BUNN 0.50 X 0 0 0 SHAIDA HORNER 0.50 X 0 0 0 NICOLE KERNER 0.50 X 0 0 0 KAY D KING 0.50 X 0 0 0 CLAUDETTE WESTON 0.50 X 0 0 0 MICHAEL EBELING 60.00 X 208247 0 19355 208247 0 19355 1 0 1 0 FRANK L BLUM CONSTRUCTION PO BOX 4153 WINSTONSALEM NC 27115 CONSTRUCTION 390628 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 JANITORIAL AND SECURITY 352719 CHARTWELLS PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 320341 3 1598745 1598745 TUITION 611710 9012787 9012787 AUXILLARY 611710 651646 651646 AFTERNOON AND OTHER PR 611710 442942 442942 OTHER SOURCES 611710 20990 20990 37080 37080 10165445 95948 95948 156887 88240 68647 68647 68647 13389011 13508887 -119876 -119876 -119876 11808909 10165445 0 44719 1553890 1553890 5499827 4463771 810447 225609 897581 897581 339432 329986 9446 6428 6428 37189 37189 18996 18996 990224 889831 100393 25420 25420 587741 246786 280954 60001 69646 69646 351559 351559 30394 30394 57378 57378 310569 310569 1117466 1117466 69993 69993 MAINTENANCE 208323 208323 SUMMER PROGRAM 138943 138943 CAFETERIA FOOD 115043 115043 243274 74849 168425 12669316 9617471 2766235 285610 6628021 8085716 15050 927245 2649278 1930631 684545 423892 45240 2650 31711920 9967525 22246120 21744395 14762156 13232070 187884 1214409 47218294 47561008 634794 2251800 903659 790002 17018000 17466029 862084 279033 19418537 20786864 X 21909736 20511420 17851 387510 5872170 5875214 27799757 26774144 47218294 47561008 X -860407 -165206 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 125525 X EDUCATION 0 5872170 6570399 3044 12445613 5858118 14052 5872170 5845444 12674 5858118 5819850 25594 108444 108444 5628556 0.49680 0.47210 0.03110 1 0 977526 977526 26389297 6823892 19565405 2705612 2141190 564422 1639485 1002443 637042 21744395 GLOBAL EQUITIES FUND 5015661 F GLOBAL FIXED INCOME FUNDS 2135308 F ABSOLUTE RETURN FUNDS 3154921 F REAL RETURN FUNDS 2854440 F OTHER 71740 F 13232070 LEASE OBLIGATIONS 55141 SUMMER AND OTHER PROGRAMS 182604 FINANCIAL AID AND OTHER EMERGENCY FUNDS 36702 SERVICE PROJECTS AND OTHER 4586 279033 11808909 12669316 -860407 -134761 -30445 -165206 -1025613 11712945 684294 684294 11028651 780258 780258 11808909 12738558 88240 88240 12650318 18998 18998 12669316 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. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: IN PRIOR YEARS ONLY PERMANENTLY RESTRICTED ASSETS WERE INCLUDED; HOWEVER BEING CONSISTENT WITH AUDITED FINANICAL STATEMENTS FOR CURRENT YEAR AND INCLUDING BOARD DESIGNATED AND TEMPORARILY RESTRICTED AMOUNTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 2012 AND 2011. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING THE YEAR ENDED JUNE 30, 2008; 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 8 - OTHER ADJUSTMENTS: GAIN ON PURCHASE OF TRIAD ACADEMY -531,697. CHANGE IN VALUE OF SWAP 596,268. CHANGE IN BENEFICIAL INTEREST OF TRUST -95,016. TOTAL TO SCHEDULE D, PART XI, LINE 8: -30,445. 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 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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 53 620666 BOOK FINANCIAL AID/SCHOLARSHIPS 95 933224 BOOK X X X 0 0 0 0 0 0 0 0 0 MICHAEL EBELING 203247 0 5000 0 0 0 2032 0 17323 0 227602 0 0 0 NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PGJ2 2008-06-18 16700000 ASSET CONSTRUCTION 0 0 0 16700000 143900 16485000 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED AT FULL BOARD MEETING 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -134,761. GAIN ON PURCHASE OF TRIAD ACADEMY -531,697. CHANGE IN VALUE OF SWAP 596,268. CHANGE IN BENEFICIAL INTEREST OF TRUST -95,016. TOTAL TO FORM 990, PART XI, LINE 5: -165,206.