Civic Intelligence

Northwood School

990 • Fiscal year 2016 • EIN 14-1401103

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 08, 2017

PO Box 1070Lake Placid, NY 12946

(518) 523-3357

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

45th percentile

0.19x

Higher debt load relative to assets than 45% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

66th percentile

0.47x

Higher debt load relative to revenue than 66% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

52nd percentile

2.8%

Higher net margin than 52% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

65th percentile

$225,000

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

68th percentile

6.9%

Faster asset growth than 68% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

70th percentile

11%

Faster revenue growth than 70% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$21,750,850

Up $1,396,851 (+6.9%) from 2015

Net Assets

Up

$17,622,660

Up $245,176 (+1.4%) from 2015

Liabilities

Up

$4,128,190

Up $1,151,675 (+39%) from 2015

Revenue

Up

$8,691,157

Up $853,390 (+11%) from 2015

Expenses

Up

$8,445,981

Up $276,937 (+3.4%) from 2015

Net Income

Up

$245,176

Up $576,453 (+174%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2012: $16,318,080Liabilities 2012: $1,181,496Net Assets 2012: $15,136,5842012Assets 2013: $17,580,092Liabilities 2013: $1,484,032Net Assets 2013: $16,096,0602013Assets 2014: $21,436,126Liabilities 2014: $3,727,365Net Assets 2014: $17,708,7612014Assets 2015: $20,353,999Liabilities 2015: $2,976,515Net Assets 2015: $17,377,4842015Assets 2016: $21,750,850Liabilities 2016: $4,128,190Net Assets 2016: $17,622,6602016Assets 2017: $23,303,829Liabilities 2017: $5,218,091Net Assets 2017: $18,085,7382017Assets 2018: $23,072,341Liabilities 2018: $5,014,259Net Assets 2018: $18,058,0822018Assets 2019: $22,985,735Liabilities 2019: $4,646,784Net Assets 2019: $18,338,9512019Assets 2021: $28,703,807Liabilities 2021: $9,671,419Net Assets 2021: $19,032,3882021Assets 2022: $28,186,954Liabilities 2022: $8,554,138Net Assets 2022: $19,632,8162022Assets 2023: $29,194,445Liabilities 2023: $9,232,731Net Assets 2023: $19,961,7142023Assets 2024: $28,162,813Liabilities 2024: $7,920,285Net Assets 2024: $20,242,5282024Assets 2025: $30,252,864Liabilities 2025: $9,649,994Net Assets 2025: $20,602,8702025

Highlighted filing

2016

Assets$21,750,850
Liabilities$4,128,190
Net Assets$17,622,660

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2012: $6,701,243Expenses 2012: $6,538,776Net Income 2012: $162,4672012Revenue 2013: $7,542,005Expenses 2013: $6,582,529Net Income 2013: $959,4762013Revenue 2014: $8,916,490Expenses 2014: $7,365,094Net Income 2014: $1,551,3962014Revenue 2015: $7,837,767Expenses 2015: $8,169,044Net Income 2015: -$331,2772015Revenue 2016: $8,691,157Expenses 2016: $8,445,981Net Income 2016: $245,1762016Revenue 2017: $9,211,946Expenses 2017: $8,748,868Net Income 2017: $463,0782017Revenue 2018: $8,653,527Expenses 2018: $8,838,526Net Income 2018: -$184,9992018Revenue 2019: $9,333,314Expenses 2019: $9,171,906Net Income 2019: $161,4082019Revenue 2021: $7,899,486Expenses 2021: $8,565,273Net Income 2021: -$665,7872021Revenue 2022: $12,555,867Expenses 2022: $10,746,509Net Income 2022: $1,809,3582022Revenue 2023: $10,643,340Expenses 2023: $10,706,928Net Income 2023: -$63,5882023Revenue 2024: $9,648,094Expenses 2024: $9,962,488Net Income 2024: -$314,3942024Revenue 2025: $10,014,878Expenses 2025: $9,940,117Net Income 2025: $74,7612025

Highlighted filing

2016

Revenue$8,691,157
Expenses$8,445,981
Net Income$245,176
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 8, 2017
Return Version
2015v3.0
Gross Receipts
$9,089,637
Mission and Program Overview

Mission

The organization is primarily a boarding secondary preparatory school with some day students which emphasizes academics but has a rigorous athletic program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,622,300$13,002,587▲ $2,380,287
Investments in Publicly Traded Securities$7,835,609$7,083,050▼ $752,559
Cash and Non-Interest-Bearing Accounts$1,590,655$1,409,737▼ $180,918
Prepaid Expenses and Deferred Charges$133,554$132,340▼ $1,214
Accounts Receivable$126,666$85,486▼ $41,180
Inventories for Sale or Use$45,215$37,650▼ $7,565
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$20,353,999$21,750,850▲ $1,396,851
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,338,439$2,883,899▲ $1,545,460
Deferred Revenue$983,480$776,245▼ $207,235
Unsecured Notes Loans Payable$375,579$250,000▼ $125,579
Accounts Payable and Accrued Expenses$279,017$218,046▼ $60,971
Total Liabilities$2,976,515$4,128,190▲ $1,151,675
Net Assets / Fund Balance
Unrestricted Net Assets$14,604,875$15,341,468▲ $736,593
Permanently Rstr Net Assets$2,253,993$2,002,562▼ $251,431
Temporarily Rstr Net Assets$518,616$278,630▼ $239,986
Total Net Assets Fund Balance$17,377,484$17,622,660▲ $245,176
Total Liabilities and Net Assets / Fund Balance$20,353,999$21,750,850▲ $1,396,851

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,636,925$8,475,358-
Other Land Buildings$1,682,223$2,074,047-
Land$603,722--
Leasehold Improvements$79,717$150,000-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael MaherHeadmasterFT$225,000$225,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
SodexhoFood service92 Northwood Road, Lake Placid, NY 12983$562,887
OMR ArchitectsArchitectural Design543 Massachusetts Avenue, Acton, MA 01720$140,286
Revenue and Support

Revenue Composition

Contributions and Grants
$2,099,670
Program Service Revenue
$7,121,153
Investment Income
$-491,187
Other Revenue
$-38,479
All Other Contributions
$2,099,670
Change in Net Assets
$245,176

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,691,157
Total Revenue per Audited Statements
$8,691,157
Total Revenue per Form 990
$8,691,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,489,689
Other Expenses$3,956,292
Total Fundraising Expense$570,016
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,352,567$472,633$399,500$3,224,700
All Other Expenses$442,567$339,491$42,225$824,283
Depreciation Depletion$672,822$5,000$5,000$682,822
Other Employee Benefits$444,696$52,317$26,159$523,172
Payroll Taxes$249,685$35,738$27,458$312,881
Other Expenses$191,988$20,000$20,000$231,988
Current Officers, Directors, Trustees, and Key Employees-$225,000-$225,000
Pension Plan Contributions$128,936$50,000$25,000$203,936
Occupancy$167,546$12,687$4,674$184,907
Information Technology$146,213$10,000$10,000$166,213
Insurance$152,554--$152,554
Fees for Services Other-$79,490-$79,490
Travel-$58,490-$58,490
Office Expenses-$45,621-$45,621
Fees for Service Investment Mgmnt Fees-$27,681-$27,681
Advertising$17,101-$10,000$27,101
Interest$24,422--$24,422
Fees for Services Accounting-$13,500-$13,500
Total Functional Expenses$6,428,317$1,447,648$570,016$8,445,981

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,445,981
Total Expenses per Audited Statements$8,445,981
Total Expenses per Form 990$8,445,981
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The Form 990 was scanned and attached to an email to all Board members before filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The conflict of interest statement is completed annually by each Board member.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

A compensation committee of the Board evaluates the performance of the Headmaster and makes a compensation recommendation to the full Board for approval.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

Upon request.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All Board members are given a copy of the audited financial statements. Governing documents and policies are disclosed upon request.

Filing and Contact Details

Filer

Filer Name
Northwood School
EIN
14-1401103
Phone
5185233357
Address
PO Box 1070, Lake Placid, NY 12946

Signing Officer

Name
Thomas Woodman
Title
Chairman
Signed
2017-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Woodman
Formed
1933
Legal Domicile
Ny
Voting Board Members
24
Independent Board Members
24
Employees
58

Preparer

Firm
Barbara S Dwyer CPA
Address
5694 Cascade Rd, Lake Placid, NY 12946
Preparer
Barbara S Dwyer CPA
Phone
5185239892
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

The School's Finance Committee reviews all matters pertaining to the retention of the independent auditor, the audit, the financial statements, and the tax returns.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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