THE SUMMIT ACADEMY OF CENTRAL VIRGINIA INC

EIN: 811772206 501(c)(3) Education

FREDERICKSBURG, VA

Total Revenue
$1,267,845
Total Expenses
$1,327,647
Total Assets
$1,263,961
Net Assets
$721,827
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
VA
Principal Officer
JULIAN MALCOLM
Tax Period
2024-07-01 to 2025-06-30

THE SUMMIT ACADEMY OF CENTRAL VIRGINIA INC, founded in 2016, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE SUMMIT ACADEMY IS TO PROVIDE A SINGLE-SEX, CLASSICAL EDUCATION THAT IS ROOTED IN A CHRISTOLOGICAL ANTHROPOLOGY AND THE TRADITION OF CATHOLIC TEACHING. WE EMPLOY THE TOOLS OF CLASSICAL LEARNING WITH ADDITIONAL EMPHASIS ON SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH; AND WE PLACE SPECIAL VALUE ON THE ARTS, AS WELL AS OUTDOOR EDUCATION AND LEADERSHIP TRAINING. ALTHOUGH WE ARE CO-EDUCATIONAL AS AN INSTITUTION, WE ARE GENDER SPECIFIC IN CLASSROOM INSTRUCTION.

Program Service Accomplishments

Program 1
Expenses: $988,016 Revenue: $943,716

THE SUMMIT ACADEMY EXISTS TO PROVIDE A RIGOROUS LIBERAL ARTS EDUCATION AND TO PARTNER WITH PARENTS TO FORM THEIR SONS AND DAUGHTERS IN CHRISTIAN VIRTUE SO THAT THEY BECOME MATURE, RESPONSIBLE, YOUNG...

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THE SUMMIT ACADEMY EXISTS TO PROVIDE A RIGOROUS LIBERAL ARTS EDUCATION AND TO PARTNER WITH PARENTS TO FORM THEIR SONS AND DAUGHTERS IN CHRISTIAN VIRTUE SO THAT THEY BECOME MATURE, RESPONSIBLE, YOUNG ADULTS EQUIPPED TO ENGAGE THE WORLD.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $267,441
Program Service Revenue $943,716
Investment Income $0
Other Revenue $56,688
TOTAL REVENUE $1,267,845

Expense Breakdown

Grants Paid $0
Salaries & Benefits $923,935
Fundraising Expenses $46,658
Program Expenses $988,016
Other Expenses $403,712
TOTAL EXPENSES $1,327,647

Year-over-Year Comparison

2024 2023 Change
Revenue $1,267,845 $1,156,979 +0.1%
Expenses $1,327,647 $1,109,886 +0.2%
Net Income $-59,802 $47,093 -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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
8
Employees
22
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
3
$40,417
Total Directors
9
$40,417
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH A STIBORA CHAIR 1.00
Officer Director
$0 $0 $0
TIM EDWARDS TREASURER 1.00
Officer Director
$0 $0 $0
JULIAN MALCOLM SECRETARY 40.00
Officer Director
$40,417 $0 $40,417
WILLIAM ASBELL III DIRECTOR 1.00
Director
$0 $0 $0
ANDREW BODOH DIRECTOR 1.00
Director
$0 $0 $0
DON WESLEY ARNOLD DIRECTOR 1.00
Director
$0 $0 $0
BARBARA GRASSO DIRECTOR 1.00
Director
$0 $0 $0
ERIN TIERNEY DIRECTOR 1.00
Director
$0 $0 $0
AMY SLUSKA DIRECTOR 1.00
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
2025 $1,267,845 $1,327,647 $1,263,961 $-59,802
2024 $1,156,979 $1,109,886 $1,276,594 $47,093
2023 $1,726,213 $1,078,538 $1,233,642 $647,675
2022 $948,424 $752,851 $190,166 $195,573
2021 $476,522 $517,066 $41,853 $-40,544
2020 $483,713 $548,815 $183,660 $-65,102
2019 $562,348 $531,991 $45,670 $30,357
2018 $340,598 $331,296 $10,727 $9,302
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