SUMMIT HOMESCHOOL ACADEMY

EIN: 881892691 501(c)(3) Education

Castle Rock, CO

Total Revenue
$502,429
Total Expenses
$355,913
Total Assets
$176,066
Net Assets
$94,066
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
CO
Principal Officer
Richelle McKim
Phone
3035150727
Tax Period
2023-07-01 to 2024-06-30

SUMMIT HOMESCHOOL ACADEMY, founded in 2022, is a small nonprofit in the Education sector that reported $502K in total revenue in fiscal year 2023. The organization ran a surplus of $147K, a strong 29% operating margin.

Mission

Summit Homeschool Academy is a classical, co-laboring, academic enrichment program. Our mission is to serve homeschool families by providing a plug-and-play program. We are committed to delivering a classical education, which values moral character and wonder in learning. We are also committed to developing local friendships, a rich parent community and supporting education freedom. Our vision is to equip families with the resources they need, to choose homeschool and instill their own worldview into their child's mind, heart and life... Our core virtues are adopted from the principals of natural law as found in the teachings of Dr. Martin Luther King Jr: Freedom, Perseverance, Hope, Justice, Conscience (This is a drop-off program, where parents co-labor with teachers by teaching at-home lessons or supporting homework. We pace the program to deliver a year of lessons in 32 weeks.)

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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 (2023)

Revenue Breakdown

Contributions & Grants $57,906
Program Service Revenue $444,356
Investment Income $167
Other Revenue $0
TOTAL REVENUE $502,429

Expense Breakdown

Grants Paid $0
Salaries & Benefits $230,334
Fundraising Expenses $0
Program Expenses $355,913
Other Expenses $125,579
TOTAL EXPENSES $355,913

Year-over-Year Comparison

2023 2022 Change
Revenue $502,429 N/A N/A
Expenses $355,913 N/A N/A
Net Income $146,516 $0 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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

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Governance

Voting Members
3
Independent Members
N/A
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
1
$59,689
Total Directors
3
$0
Key Employees
1
$25,915
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Richelle McKim Director 40
Officer
$59,689 $0 $59,689
Marilyn Mercer Teacher of Record 20
Key Emp
$25,915 $0 $25,915
Bill Cadman Board President 5
Director
$0 $0 $0
Toni Smith Board Treasurer 5
Director
$0 $0 $0
Emilie Scheid Board Secretary 5
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 No data No data No data No data
2024 $502,429 $355,913 $176,066 $146,516
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