Nonprofit · EIN 58-1727959
LAKE SUMMIT FOUNDATION
Tax-exempt · HENDERSONVLLE, NC 28739
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $139,329 | $129,523 | $9,806 | $2,368,148 | $0 | $2,368,148 |
| December 31, 2023 | 990 | $172,160 | $103,992 | $68,168 | $2,160,950 | $0 | $2,160,950 |
| December 31, 2021 | 990 | $957,445 | $80,932 | $876,513 | $1,873,874 | $0 | $1,873,874 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $101,280
- Program service revenue
- $0
- Investment income
- $33,933
- Net income from fundraising events
- $165
- Net income from sales of inventory
- $3,951
- Other revenue
- $4,116
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $3,434
- Program services (functional)
- $103,262
- Management and general (functional)
- $26,261
Balance sheet and other
- Total assets, start of year
- $2,160,950
- Total assets, end of year
- $2,368,148
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,368,148
- Land, buildings and equipment
- $301,307
- Publicly traded securities
- $1,936,106
- Net assets without donor restrictions
- $2,368,148
- Gross receipts
- $149,403
- Employees
- 0
- Volunteers
- 18
- Year formed
- 2008
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOYCE BIDDIX | SECRETARY Trustee or director, Officer | 3 | $23,583 |
| LEE ARNETT | PRESIDENT Trustee or director, Officer | 3 | $0 |
| TED GAGE | TREASURER Trustee or director, Officer | 3 | $0 |
| FRANK D BELL JR | LIFETIME MEM Trustee or director | 1 | $0 |
| JIM MILLER | LIFETIME MEM Trustee or director | 1 | $0 |
| WALTER MONTGOMERY JR | LIFETIME MEM Trustee or director | 1 | $0 |
| LILLIAN LILLY | DIRECTOR Trustee or director | 1 | $0 |
| STANFORD MCMILLAN | DIRECTOR Trustee or director | 1 | $0 |
| JOY OATES | DIRECTOR Trustee or director | 1 | $0 |
| JOANNA SHERMAN | DIRECTOR Trustee or director | 1 | $0 |
| DIANE TRIPLITT | DIRECTOR Trustee or director | 1 | $0 |
| SUSAN WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOYCE BIDDIX | SECRETARY Trustee or director, Officer | 3 | $24,765 |
| DIANE TRIPLITT | PRESIDENT Trustee or director, Officer | 3 | $0 |
| TED GAGE | TREASURER Trustee or director, Officer | 3 | $0 |
| FRANK D BELL JR | LIFETIME MEM Trustee or director | 1 | $0 |
| KATIE MILLER-GRANT | LIFETIME MEM Trustee or director | 1 | $0 |
| WALTER MONTGOMERY JR | LIFETIME MEM Trustee or director | 1 | $0 |
| LEE ARNETT | DIRECTOR Trustee or director | 1 | $0 |
| CAM BOYD | DIRECTOR Trustee or director | 1 | $0 |
| LILLIAN LILLY | DIRECTOR Trustee or director | 1 | $0 |
| STANFORD MCMILLAN | DIRECTOR Trustee or director | 1 | $0 |
| JOY OATES | DIRECTOR Trustee or director | 1 | $0 |
| KIM O'NEALL | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2021: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOYCE BIDDIX | SECRETARY Trustee or director, Officer | 5 | $22,620 |
| KIM O'NEAL | PRESIDENT Trustee or director, Officer | 1 | $0 |
| TED GAGE | TREASURER Trustee or director, Officer | 1 | $0 |
| WILL POUCH | LSPOA PRESID Trustee or director, Officer | 1 | $0 |
| FRANK D BELL JR | LIFETIME MEM Trustee or director | 1 | $0 |
| KATIE MILLER-GRANT | LIFETIME MEM Trustee or director | 1 | $0 |
| WALTER MONTGOMERY JR | LIFETIME MEM Trustee or director | 1 | $0 |
| KITSY BABB | DIRECTOR Trustee or director | 1 | $0 |
| CAM BOYD | DIRECTOR Trustee or director | 1 | $0 |
| SANDRA CANNON | DIRECTOR Trustee or director | 1 | $0 |
| JOY OATES | DIRECTOR Trustee or director | 1 | $0 |
| DIANE TRIPLITT | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 15 WESTMINSTER CT, HENDERSONVLLE, NC 28739-6200
- Principal officer (990 for 2024)
- JOYCE BIDDIX, 15 WESTMINSTER COURT, HENDERSONVILLE, NC 28739
- Signed the 990
- JOYCE BIDDIX, SECRETARY
- Phone
- (828) 707-8227
- Website
- LAKESUMMITONLINE.COM
- Return prepared by
- GOULD KILLIAN CPA GROUP PA
Mission
CONTRIBUTIONS FOR EDUCATION AND CONSERVATION AND TO SUPPORT THE ADMINISTRATION AND OPERATION OF A PUBLIC PARK.
Program accomplishments
- TO PROMOTE AND SUPPORT THE PRESERVATION AND CONSERVATION OF NATURAL RESOURCES, WILDLIFE, AND AREAS OF NATURAL BEAUTY, PARTICULARLY IN THE REGION OF LAKE SUMMIT, NORTH CAROLINA AND THE ADMINISTRATION AND OPERATION OF A PUBLIC PARK, BEACH, AND PARKING AREA SERVING LAKE SUMMIT, NORTH CAROLINA AND RESIDENTS OF THE GREEN RIVER FIRE DISTRICT.Expenses $103,262
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 58-1727959
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1987
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,368,148
- Income (IRS master file)
- $149,403
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $139,329 | $129,523 | $2,368,148 | IRS |
| 990 | December 2023 | $172,160 | $103,992 | $2,160,950 | XML |
| 990 | December 2022 | $351,179 | $89,301 | $2,029,291 | IRS |
| 990 | December 2021 | $957,445 | $80,932 | $1,873,874 | XML |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1727959).
Questions about LAKE SUMMIT FOUNDATION
- What is the EIN of LAKE SUMMIT FOUNDATION?
- The employer identification number (EIN) of LAKE SUMMIT FOUNDATION is 58-1727959.
- Is LAKE SUMMIT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to LAKE SUMMIT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE SUMMIT FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE SUMMIT FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE SUMMIT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAKE SUMMIT FOUNDATION?
- The 990 for the year ended December 31, 2024 names JOYCE BIDDIX.
- Who are the officers and directors of LAKE SUMMIT FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 12 people; 1 received compensation from the organization, the highest $23,583 (JOYCE BIDDIX, SECRETARY).
- How much revenue does LAKE SUMMIT FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $139,329, expenses of $129,523 and total assets of $2,368,148 at year end.
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