Investors can count on Summit Education Initiative
Summit Education Initiative (SEI) is a good steward of the support it receives from the community.
An endowment fund, created by community leaders and organizations when SEI was founded in 1996, provides a solid financial base for SEI. This endowment is generously supplemented primarily by local foundations, corporations and individuals.
SEI keeps overhead costs to a minimum.
SEI outsources many functions, rather than hiring staff.
SEI builds organizational capacity through collaborations.
SEI continues with sound fiscal management and its controls that are in place to ensure that investors’ contributions are safeguarded and well-used. Annual audits completed by Bober Markey Fedorovich for fiscal years 2012 – 2016 have been 100 percent clean; SEI hasn’t received any citations and no errors or concerns have been noted.
Click here for SEI’s FY2015 Form 990.
To see a detailed list of SEI’s investors, click here.
Accounting standards require the recognition of revenues in the fiscal year in which they are committed or received. Temporarily restricted contributions of $494,775 were recognized in prior years and carried over to fund the Cradle to Career Alliance during 2015-16. Likewise, temporarily restricted contributions totaling $533,986 were recognized in 2015-16 and have been set aside to fund projects in 2016-17 and 2017-18.