Summit School Foundation

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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

2002

Legal Domicile

Principal Officer

Richard Sitman

Phone

7182642931

Tax Period

2023-01-01 to 2023-12-31

Summit School Foundation, founded in 2002, is a small nonprofit in the Education sector that reported $328K in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $120K, a strong 37% operating margin.

Mission

To raise money to establish a fund which can be used exclusively to fund educational purposes.

Program Service Accomplishments

Program 1

Expenses: $208,252 Revenue: $220,701

To serve and promote the needs of The Summit School.To assist The Summit School in raising funds for use in the futherance of its educational purposes and to conduct any and all lawful activities...

To serve and promote the needs of The Summit School.To assist The Summit School in raising funds for use in the futherance of its educational purposes and to conduct any and all lawful activities which may be useful in accomplishing the forefoing purposes.

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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 (2023)

Revenue Breakdown

Contributions & Grants $220,701

Program Service Revenue $0

Investment Income $10,105

Other Revenue $97,201

TOTAL REVENUE $328,007

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $208,252

Other Expenses $208,252

TOTAL EXPENSES $208,252

Year-over-Year Comparison

	2023	2022	Change
Revenue	$328,007	$244,779	+0.3%
Expenses	$208,252	$334,480	-0.4%
Net Income	$119,755	$-89,701	-2.3%

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

$72,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Sitman	Director	10.00	Director	$72,000	$0	$72,000

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
2024	No data	No data	No data	No data
2023	$328,007	$208,252	$2,208,537	$119,755
2022	$244,779	$334,480	$2,028,796	$-89,701
2021	$510,706	$522,208	$2,118,497	$-11,502
2020	$720,342	$364,488	$2,129,999	$355,854
2019	$755,526	$752,278	$1,774,145	$3,248
2018	$749,269	$943,086	$2,450,511	$-193,817