SUMMIT ACADEMY OIC

EIN: 410908458 501(c)(3) Education

MINNEAPOLIS, MN

Total Revenue
$17,953,025
Total Expenses
$15,422,049
Total Assets
$21,768,604
Net Assets
$19,250,312
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1966
Legal Domicile
MN
Principal Officer
LEROY WEST
Phone
6123770150
Tax Period
2023-07-01 to 2024-06-30

SUMMIT ACADEMY OIC, founded in 1966, is a mid-sized nonprofit in the Education sector that reported $18.0M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $15.4M left a modest 14% surplus.

Mission

TO ASSIST INDIVIDUALS IN DEVELOPING THEIR ABILITY TO EARN AND BECOME CONTRIBUTING CITIZENS IN THEIR COMMUNITY. WE SUPPORT THE DEVELOPMENT OF SELF SUFFICIENCY IN EVERY PERSON REGARDLESS OF BACKGROUND, ECONOMIC STATUS, OR LEVEL OF ABILITY. WE STRENGTHEN THE COMMUNITY BY PREPARING INDIVIDUALS TO ASSUME THEIR ROLES AS WORKERS, CITIZENS, AND PARENTS.

Program Service Accomplishments

Program 1
Expenses: $11,505,628 Revenue: $4,760,676

SUMMIT ACADEMY OIC IS A NON-PROFIT VOCATIONAL TRAINING AND EDUCATIONAL CENTER BASED IN NORTH MINNEAPOLIS WITH 50 YEARS' EXPERIENCE HELPING TWIN CITIES' RESIDENTS IN ECONOMICALLY DEPRESSED...

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SUMMIT ACADEMY OIC IS A NON-PROFIT VOCATIONAL TRAINING AND EDUCATIONAL CENTER BASED IN NORTH MINNEAPOLIS WITH 50 YEARS' EXPERIENCE HELPING TWIN CITIES' RESIDENTS IN ECONOMICALLY DEPRESSED NEIGHBORHOODS ACQUIRE THE TOOLS THEY NEED TO BECOME EDUCATED, EMPLOYED, AND SELF-SUPPORTING. SUMMIT ACADEMY IS THE ONLY COMMUNITY-BASED VOCATIONAL TRAINING AND JOB-PLACEMENT PROGRAM IN NORTH MINNEAPOLIS ACCREDITED BY THE COUNCIL ON OCCUPATIONAL EDUCATION AND REGISTERED WITH THE MINNESOTA HIGHER EDUCATION SERVICES OFFICE.AT SUMMIT ACADEMY OIC, WE BELIEVE THE BEST SOCIAL SERVICE PROGRAM IN THE WORLD IS A JOB. GRADUATES FROM OUR ADULT EDUCATION PROGRAMS ARE GIVEN THE OPPORTUNITY TO LIFT THEMSELVES UP FROM A LIFE OF POVERTY AND HOPELESSNESS ONTO A PATH THAT WILL LEAD TO A BETTER LIFE FOR THEMSELVES AND THEIR FAMILIES. WHERE BEFORE, THESE MEN AND WOMEN WERE LIMITED BY CHRONIC UNEMPLOYMENT, A COMPLETE LACK OF RESOURCES, AND IN MANY CASES, A LACK OF FAITH IN THEMSELVES, THEY NOW HAVE THE CHANCE TO FUNDAMENTALLY CHANGE THEIR CIRCUMSTANCES BY INCREASING THEIR INCOME AND THEIR QUALITY OF LIFE. WHEN ADULTS WORK FULL-TIME LIVING-WAGE JOBS, THEY BECOME ROLE MODELS TO YOUNG ADULTS AND CHILDREN, FAMILIES BECOME MORE STABLE, AND THE CYCLE THAT HAS KEPT THEIR COMMUNITIES POOR AND CRIME-RIDDEN IS BROKEN. THESE POSITIVE CHANGES CONTINUE TO RIPPLE OUT EVEN FURTHER INTO THE LARGER COMMUNITY AS FEWER SOCIAL SERVICES AND INCARCERATION COSTS ARE INCURRED AND GRADUATES BEGIN TO PAY TAXES. AFTER RECEIVING TRAINING IN COMMUNITY HEALTHCARE, ENERGY EFFICIENCY AND GREEN CONSTRUCTION, THESE GRADUATES HAVE GONE ON TO WORK IN JOBS THAT DIRECTLY IMPROVE MINNESOTA'S INFRASTRUCTURE.SUMMIT ACADEMY OFFERS ADULT EDUCATION AND SUPPORT SERVICES THAT ARE TAILORED TO THE SPECIFIC NEEDS OF THE COMMUNITIES WE SERVE. OUR CAREER AND TECHNOLOGY CENTER PROVIDES PRE-APPRENTICE TRAINING IN CONSTRUCTION (HUNDRED HARD HATS PROGRAM), WITH SPECIFIC TRACKS IN CARPENTRY AND ELECTRICAL WORK. THE CTC ALSO OFFERS PROGRAMS IN MEDICAL ADMINISTRATIVE ASSISTANT , INFORMATION TECHNOLOGY CAREERS AND IN 2024 WE INITIATED TRAINING IN FINANCIAL SERVICES. IN ADDITION TO THE POST SECONDARY OFFERINGS SUMMIT OFFERS A CONTEXTUALIZED GED PROGRAM THAT PROVIDES INDIVIDUALS WITHOUT A HIGH SCHOOL DIPLOMA THE OPPORTUNITY TO EARN A GED IN CONJUNCTION WITH ATTAINTING AN ADVANCED CERTIFICATE IN THE AFOREMENTIONED CARRERS. ALL CAREER TRACKS ARE ALL SUPPORTED WITH SERVICES THAT DEVELOP STUDENTS' LIFE SKILLS AND ASSIST IN JOB SEEKING, PLACEMENT, AND RETENTION.IN THIS FISCAL YEAR (JULY 1, 2023- JUNE 30, 2024), SUMMIT'S CAREER AND TECHNOLOGY CENTER SERVED 954 ADULT STUDENTS, AND 559 OBTAINED THEIR GED OR GRADUATED WITH A VOCATIONAL TRAINING CERTIFICATE OF COMPLETION. OVER THAT TIME SUMMIT PLACED 331 ADULTS IN EMPLOYMENT. JOB EARNINGS FOR ALL PROGRAMS ARE AT A MEDIAN OF $21 PER HOUR.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,133,588
Program Service Revenue $4,760,676
Investment Income $23,528
Other Revenue $35,233
TOTAL REVENUE $17,953,025

Expense Breakdown

Grants Paid $2,525,620
Salaries & Benefits $8,768,271
Fundraising Expenses $1,255,857
Program Expenses $11,505,628
Other Expenses $4,050,573
TOTAL EXPENSES $15,422,049

Year-over-Year Comparison

2023 2022 Change
Revenue $17,953,025 $15,821,209 +0.1%
Expenses $15,422,049 $14,664,459 +0.1%
Net Income $2,530,976 $1,156,750 +1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
17
Independent Members
17
Employees
183
Volunteers
250

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
10
$1,184,299
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BILL PARKER CHAIRMAN 1.00
Officer Director
$0 $0 $0
MIQUEL PURVIS MCMOORE VICE CHAIR 1.00
Officer Director
$0 $0 $0
JIM TORBORG SECRETARY 1.00
Officer Director
$0 $0 $0
WAYNE GRAY TREASURER 1.00
Officer Director
$0 $0 $0
DAVID JURAN DIRECTOR 1.00
Director
$0 $0 $0
MARK MOOREHOUSE DIRECTOR 1.00
Director
$0 $0 $0
HEIDI WEAVER DIRECTOR 1.00
Director
$0 $0 $0
DAVE NORBACK DIRECTOR 1.00
Director
$0 $0 $0
ERIC GRUTZNER DIRECTOR 1.00
Director
$0 $0 $0
KARL HURSTON DIRECTOR 1.00
Director
$0 $0 $0
LAURA GROSCHEN DIRECTOR 1.00
Director
$0 $0 $0
IDRISSA DAVIS DIRECTOR 1.00
Director
$0 $0 $0
KRISTIN DENNEWILL DIRECTOR 1.00
Director
$0 $0 $0
TOM ZIRBS DIRECTOR 1.00
Director
$0 $0 $0
KIRSTEN WALSTIEN DIRECTOR 1.00
Director
$0 $0 $0
OURAPHONE SIRI OUTHAY WILLS DIRECTOR 1.00
Director
$0 $0 $0
ESTHER LEDESMA PUMAROL DIRECTOR 1.00
Director
$0 $0 $0
LEROY WEST CEO 40.00
Officer
$253,590 $19,010 $272,600
MARC L CARRIER CFO 40.00
Officer
$211,754 $21,502 $233,256
HOPE PATTERSON COO 40.00
Officer
$148,215 $25,111 $173,326
SARAH ARMSTRONG CHIEF DEVELOPMENT OFFICER 40.00
Officer
$153,372 $15,136 $168,508
ANNE-MARIE KUIPER CHIEF STRATEGY OFFICER 40.00
Officer
$136,737 $16,049 $152,786
MIRIAM WILLIAMS CHIEF ACADEMIC OFFICER 40.00
Officer
$176,943 $6,880 $183,823
MEGAN NORMANDIN DIRECTOR OF DATA & EVALUATION 40.00
Highest
$136,111 $15,936 $152,047
AMANDA SOMMERFELD DIRECTOR OF ACCOUNTING 40.00
Highest
$117,227 $13,222 $130,449
ANTHONY O'BRIEN DIRECTOR OF PROGRAMMING 40.00
Highest
$133,725 $6,324 $140,049
JAMIL MOHAMMED DIRECTOR OF INFORMATION TECH 40.00
Highest
$111,143 $16,413 $127,556
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
2025 No data No data No data No data
2024 $17,953,025 $15,422,049 $21,768,604 $2,530,976
2023 $15,821,209 $14,664,459 $18,819,354 $1,156,750
2022 $16,544,974 $15,546,748 $17,542,372 $998,226
2021 $19,439,304 $12,853,918 $17,446,949 $6,585,386
2020 $11,048,729 $10,299,902 $11,065,441 $748,827
2019 $9,576,633 $9,372,493 $8,821,627 $204,140
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