New Summit Academy

Analysis

New Summit Academy is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Summit Academy reported income of $8.3m and spending of $8.8m, spending 107% of what it took in. Across the 6 years on record, from July 2019 to June 2024, income grew from $4.7m to $8.3m (+74%), an average of +12% a year. The sharpest change came in the year to July 2020, when income rose by 17%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Summit Academy sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CO. Charities of a similar size with the same main cause include Central Pointe Christian Educational Center Inc ($8.3m), Peak Charter Academy ($8.3m) and Deaflead ($8.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $197k (2.2% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $6.6m against liabilities of $10.6m, net assets of -$4.0m. It reported 121 employees.