SUMMIT CREEK ACADEMY

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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

2019

Legal Domicile

Phone

3363554447

Tax Period

2024-07-01 to 2025-06-30

SUMMIT CREEK ACADEMY, founded in 2019, is a community nonprofit in the Education sector that reported $9.5M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

TO OPERATE A PUBLIC SCHOOL ACADEMY AND TO PROVIDE EDUCATION TO CHILDREN IN GRADES KINDERGARTEN THROUGH SIXTH GRADE BASED ON RIGOROUS TEACHING METHODS, PARENTAL INVOLVEMENT, STUDENT RESPONSIBILITY, AND BASIC MORAL VALUES. ENROLLMENT IS OPEN TO ALL APPROPRIATELY AGED CHILDREN WITHOUT REGARD TO GENDER, ETHNIC BACKGROUND, DISABILITY, AND/OR RELIGIOUS AFFILIATION.

Program Service Accomplishments

Program 1

Expenses: $7,510,729 Revenue: $153,998

OPERATED AN EDUCATIONAL INSTITUTION ORGANIZED AS A PUBLIC SCHOOL ACADEMY. THE ACADEMY PROVIDES EDUCATION, AT NO COST TO THE PARENT, TO STUDENTS IN KINDERGARTEN THROUGH SIXTH GRADE. THE ACADEMY...

OPERATED AN EDUCATIONAL INSTITUTION ORGANIZED AS A PUBLIC SCHOOL ACADEMY. THE ACADEMY PROVIDES EDUCATION, AT NO COST TO THE PARENT, TO STUDENTS IN KINDERGARTEN THROUGH SIXTH GRADE. THE ACADEMY OPERATES UNDER A CHARTER APPROVED BY THE NORTH CAROLINA STATE BOARD OF EDUCATION.

Program 2

Expenses: $441,873 Revenue: $0

OPERATED A SCHOOL FOOD SERVICE PROGRAM AT THE PUBLIC SCHOOL ACADEMY DESCRIBED ABOVE. THE ACADEMY OFFERS FREE OR REDUCED LUNCH FOR FAMILIES THAT QUALIFY. FUNDING FOR THIS PROGRAM WAS PROVIDED BY THE...

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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 (2024)

Revenue Breakdown

Contributions & Grants $9,361,668

Program Service Revenue $102,398

Investment Income $0

Other Revenue $51,600

TOTAL REVENUE $9,515,666

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,130,171

Fundraising Expenses $0

Program Expenses $7,952,602

Other Expenses $5,380,917

TOTAL EXPENSES $9,511,088

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,515,666	$8,548,131	+0.1%
Expenses	$9,511,088	$8,533,466	+0.1%
Net Income	$4,578	$14,665	-0.7%

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

265

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
ALFRED INGLESBY	VICE PRESIDENT	1.0	Officer Director	$0	$0	$0
DORIS ROBINSON GODETTE	TREASURER	1.0	Officer Director	$0	$0	$0
DR PETER SAM	SECRETARY	1.0	Officer Director	$0	$0	$0
MIKE STAINBACK	PRESIDENT	1.0	Officer Director	$0	$0	$0
JAIME SWINDELL	DIRECTOR	1.0	Director	$0	$0	$0
JIM KEE	DIRECTOR	1.0	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	$9,515,666	$9,511,088	$1,810,229	$4,578
2024	$8,548,131	$8,533,466	$1,211,979	$14,665
2023	$7,895,715	$7,903,645	$1,438,760	$-7,930
2022	$6,323,043	$6,289,779	$1,147,727	$33,264