2025-06-09T09:51:16-05:00 2024-06-30 260793942 MARTIN SMITH & COMPANY CPAS PA 1212 HAYWOOD ROAD BLDG 100 GREENVILLE SC 296152200 990 2023-07-01 825507072 SUMMIT CLASSICAL CHARTER SCHOOL INC SUMM 8039739812 1201 MAIN STREET SUITE 300 COLUMBIA SC 29201 JESSICA MILLS BOARD CHAIR 8039739812 2025-06-08 1 0 DAVID A SMITH P00045703 8642321040 2023 2025-03-06 01:10:19Z JESSICA MILLS 1201 MAIN STREET SUITE 300 COLUMBIA SC 29201 1149488 0 X N/A X 2018 SC THE MISSION OF SUMMIT CLASSICAL CHARTER SCHOOL IS TO CULTIVATE A LEARNING ENVIRONMENT THAT PRODUCES MODEL CITIZENS WHO EMBRACE ONGOING ACHIEVEMENT IN EDUCATION AND SERVICE. 6 6 16 0 0 0 1454466 1149323 33958 165 0 0 0 0 1488424 1149488 0 0 0 0 777256 747642 0 0 0 800099 665697 1577355 1413339 -88931 -263851 769352 287819 846635 628951 -77283 -341132 THE SCHOOL'S MISSION IS TO SUPPORT THE GROWTH AND DEVELOPMENT OF LEADERSHIP-CALIBER STUDENTS. 0 0 969449 165 DURING THE 2023-24 SCHOOL YEAR, THERE SCHOOL ENROLLED APPROXIMATELY 80 STUDENTS. AS OF JUNE 30, 2024 THE ORGANIZATION NO LONGER OPERATES AS A SCHOOL. 969449 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 16 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X X THE CHARTER INSTITUTE AT ERSKINE 8038492464 1201 MAIN STREET SUITE 300 COLUMBIA SC 29201 X JESSICA MILLS BOARD CHAIR 1.00 X X 0 0 0 MATT ASHEMORE VICE CHAIR 1.00 X X 0 0 0 SAVANNA THIBODEAUH DIRECTOR 1.00 X 0 0 0 LINDSEY CANNON DIRECTOR 1.00 X 0 0 0 LAHALLA GARRETT SECRETARY 1.00 X X 0 0 0 ADRIENNE JONES TREASURER 1.00 X X 0 0 0 0 0 0 0 0 0 0 REASON AND REPUBLIC LLC 1650H E GREENVILLE ST ANDERSON SC 29621 MANAGEMENT, FISCAL, TECHNOLOY, MKTG/ADVE 135703 1 1149323 1149323 OTHER REVENUE 611710 165 165 165 1149488 165 0 0 640898 499224 141674 5241 5241 47664 35405 12259 53839 43341 10498 11037 11037 18219 18219 48939 48939 116160 23400 92760 11183 11183 5347 5347 35029 35029 78435 78435 3200 3200 286626 229301 57325 10047 10047 STUDENT SUPPLIES & TEXT 20073 20073 FEE PAID TO DISTRICT 18813 18813 MEMBERSHIP DUES & FEES 2560 2560 BANK FEES 29 29 1413339 969449 443890 0 53884 20392 21730 613908 368211 390723 245697 324745 0 769352 287819 402954 334032 3188 0 293693 293693 146800 1226 846635 628951 X 0 0 0 0 -77283 -341132 -77283 -341132 769352 287819 X -263851 2 X 0 1 X 0 0 X 542686 308440 234246 71222 59771 11451 245697 DUE TO SC DEPT OF EDUCATION 1226 1226 X 1149488 0 1149488 0 1149488 1413339 0 1413339 0 1413339 PART X, LINE 2: THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH GOVERNMENTAL ACCOUNTING STANDARDS, WHICH DOES NOT REQUIRE THE ADOPTION OF FIN 48. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S POLICY IS LISTED ON ALL PRINTED REGISTRATION FORMS. SCHEDULE E, PART I, LINE 4 THE SCHOOL DOES NOT OFFER SCHOLARSHIPS SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES A SIGNIFICANT PORTION OF ITS SUPPORT FROM GOVERNMENTAL UNITS INCLUDING A PASS THROUGH AMOUNT FROM THE CHARTER INSTITUTE AT ERSKINE. REASON AND REPUBLIC LLC FOUNDER FACILITY IMPROVEMENTS X 393693 293693 1 1 1 293693 REASON AND REPUBLIC FOUNDER 135703 MANANGEMENT, TECHNOLOGY, ACCOUNTING AND MARKETING/ADVERTISING 1 SHEDULE L, PART V PART II: LOANS WITH INTERESTED PERSONS - THE SCHOOL'S MANAGEMENT COMPANY WAS ALSO THE ENTITY THAT HELPED ESTABLISH THE SCHOOL. THE SCHOOL ENTERED INTO A LEASE AGREEMENT FOR ITS FACILITY DURING THE FISCAL YEAR ENDED JUNE 30, 2022. AS PART OF THE AGREEMENT, THE SCHOOL AGREED TO PAY $393,693 TO THE MANAGEMENT COMPANY FOR LEASEHOLD IMPROVEMENTS. THIS WAS AN INTEREST-FREE LOAN APPROVED BY THE BOARD.PART IV: BUSINESS TRANSACTIONS WITH INTERESTED PERSONS - MANAGEMENT FEES PAID TO REASON & REPUBLIC LLC WERE APPROVED BY THE BOARD WHEN THE ORIGINAL CONTRACT WAS ESTABLISHED. THE MANAGEMENT COMPANY RECEIVED AN ALLOCATION OF 15% OF TOTAL REVENUE ALLOCATED FOR MANAGEMENT SERVICES. THE SCHOOL ALSO REIMBURSED THE MANAGEMENT COMPANY FOR CERTAIN EXPENDITURES AND PURCHASES MADE ON ITS BEHALF. FORM 990, PART VI, SECTION A, LINE 8B DURING FY23, THERE WERE NO MEETINGS BY SUBCOMMITTEES OF THE BOARD SO THE FORM 990 QUESTION ON DOCUMENTATION BY COMMITTEES DOES NOT APPLY FOR THIS TIME PERIOD. THERE WAS DOCUMENTATION OF MEETINGS AND ACTION BY MEETINGS OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD CHAIR AND TREASURER PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER IS REQUIRED TO ATTEND STATE BOARD TRAINING WHICH ADDRESSES THE CONFLICT OF INTEREST STANDARDS. BOARD MEMBERS HAVE THE OPPORTUNITY TO DISCLOSE ANY CONCERNS AT REGULARLY SCHEDULED BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING 2. FORM 990 - OTHER INFORMATION THE SCHOOL UTILIZED A MANAGEMENT COMPANY TO MANAGE SCHOOL OPERATIONS THROUGH JANUARY 2024. THE MANAGEMENT COMPANY UP UNTIL THIS TIME HELD A SIGNIFICANT AMOUNT OF THE FINANCIAL RECORDS OF THE SCHOOL. AT THE TIME OF FILING, THE MANAGEMENT COMPANY HAS NOT PROVIDED THE SCHOOL WITH ALL OF ITS BOOKS AND RECORDS. FOR THIS REASON, THERE ARE ITEMS REQUESTED ON FORM 990 THAT THE SCHOOL COULD NOT PROVIDE DUE TO LACK OF AVAILABLE RECORDS INCLUDING THE OF 1099S FILED, DISCLOSURES FOR COMPENSATION INFORMATION OF A MANAGEMENT COMPANY EMPLOYEE WHO SERVED IN A MANAGEMENT CAPACITY FOR THE SCHOOL, AND CALENDAR YEAR COMPENSATION TO THE MANAGEMENT COMPANY (ALTHOUGH THE FISCAL YEAR AMOUNT IS DISCLOSED IN PART IX ON THE STATEMENT OF FUNCTIONAL EXPENSES). THE LEVEL OF DETAIL REPORTED IN PART IX WAS ALSO LIMITED AS THE SCHOOL DID NOT HAVE ACCESS TO MORE DETAILED RECORDS SO IT RELIED ON THE MORE SUMMARIZED REPORTING AVAILABLE IN THE AUDITED FINANCIAL STATEMENTS. THE RETURN IS BEING FILED WITH THE MOST ACCURATE INFORMATION AVAILABLE AT THE TIME OF FILING.