SUMMIT EDUCATION ASSOCIATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

JACK THORNTON

Phone

3366626250

Tax Period

2019-01-01 to 2019-12-31

SUMMIT EDUCATION ASSOCIATION INC, founded in 2004, is a small nonprofit in the Education sector that reported $789K in total revenue in fiscal year 2019. Revenue surged 153% from the prior year, signaling strong growth momentum. The organization ran a surplus of $289K, a strong 37% operating margin.

Mission

TO SOLICIT MEMBERS AND TAX DEDUCTIBLE CONTRIBUTIONS TO SUPPORT THE EFFORTS OF SUMMIT CREDIT UNION IN PROVIDING EDUCATION SCHOLARSHIPS AND EDUCATIONAL SEMINARS.

Program Service Accomplishments

Program 1

Expenses: $499,730 Revenue: $0

TO PROVIDE SUPPORT FOR THE ELIZABETH N. AND JAMES V. HAMILTON SCHOLARSHIP FUND MANAGED BY THE CAROLINAS CREDIT UNION FOUNDATION. SUPPORT FOR THE PATH TO FINANCIAL SUCCESS PROGRAMS OFFERED BY SUMMIT...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $789,345

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $789,345

Expense Breakdown

Grants Paid $490,791

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $499,730

Other Expenses $9,989

TOTAL EXPENSES $500,780

Year-over-Year Comparison

	2019	2018	Change
Revenue	$789,345	$312,250	+1.5%
Expenses	$500,780	$157,134	+2.2%
Net Income	$288,565	$155,116	+0.9%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK THORNTON	CHAIRMAN	0.50	Officer Director	$0	$0	$0
DAN GREENE	VICE-CHAIRMAN	0.50	Officer Director	$0	$0	$0
PAUL FRANCIS	TREASURER	0.50	Officer Director	$0	$0	$0
SHARISSE FULLER	SECRETARY	0.50	Officer Director	$0	$0	$0
RICK MILLER	MEMBER	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2019	$789,345	$500,780	$443,681	$288,565
2018	$312,250	$157,134	$155,116	$155,116