Civic Intelligence

The Blake School

990 • Fiscal year 2015 • EIN 23-7243247

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 12, 2016

110 Blake Road SouthHopkins, MN 55343

(952) 988-3451

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$125,650,976

Up $14,259,367 (+13%) from 2014

Net Assets

Up

$109,009,881

Up $15,764,117 (+17%) from 2014

Liabilities

Down

$16,641,095

Down $1,504,750 (-8.3%) from 2014

Revenue And Expenses

Revenue

Up

$63,732,471

Up $19,200,669 (+43%) from 2014

Expenses

Up

$43,007,558

Up $1,089,237 (+2.6%) from 2014

Net Income

Up

$20,724,913

Up $18,111,432 (+693%) from 2014

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $88,285,784Liabilities 2010: $20,241,108Net Assets 2010: $68,044,6762010Assets 2011: $96,189,207Liabilities 2011: $20,117,924Net Assets 2011: $76,071,2832011Assets 2012: $96,856,490Liabilities 2012: $19,204,670Net Assets 2012: $77,651,8202012Assets 2013: $104,649,812Liabilities 2013: $18,929,093Net Assets 2013: $85,720,7192013Assets 2014: $111,391,609Liabilities 2014: $18,145,845Net Assets 2014: $93,245,7642014Assets 2015: $125,650,976Liabilities 2015: $16,641,095Net Assets 2015: $109,009,8812015Assets 2016: $134,390,804Liabilities 2016: $16,638,799Net Assets 2016: $117,752,0052016Assets 2017: $147,411,111Liabilities 2017: $16,972,076Net Assets 2017: $130,439,0352017Assets 2018: $168,609,656Liabilities 2018: $27,050,196Net Assets 2018: $141,559,4602018Assets 2019: $169,476,297Liabilities 2019: $25,989,208Net Assets 2019: $143,487,0892019Assets 2020: $169,661,407Liabilities 2020: $28,965,811Net Assets 2020: $140,695,5962020Assets 2021: $191,397,009Liabilities 2021: $22,283,810Net Assets 2021: $169,113,1992021Assets 2022: $202,228,265Liabilities 2022: $44,973,400Net Assets 2022: $157,254,8652022Assets 2023: $200,319,449Liabilities 2023: $44,618,436Net Assets 2023: $155,701,0132023Assets 2024: $200,752,358Liabilities 2024: $41,296,631Net Assets 2024: $159,455,7272024Assets 2025: $206,331,519Liabilities 2025: $41,157,836Net Assets 2025: $165,173,6832025

Highlighted filing

2015

Assets$125,650,976
Liabilities$16,641,095
Net Assets$109,009,881

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $36,604,9852010Expenses 2011: $37,422,6602011Expenses 2012: $38,398,3902012Expenses 2013: $38,343,7012013Revenue 2014: $44,531,802Expenses 2014: $41,918,321Net Income 2014: $2,613,4812014Revenue 2015: $63,732,471Expenses 2015: $43,007,558Net Income 2015: $20,724,9132015Revenue 2016: $59,340,341Expenses 2016: $44,963,340Net Income 2016: $14,377,0012016Revenue 2017: $57,868,985Expenses 2017: $46,951,793Net Income 2017: $10,917,1922017Revenue 2018: $59,314,189Expenses 2018: $48,974,341Net Income 2018: $10,339,8482018Revenue 2019: $51,399,563Expenses 2019: $50,952,941Net Income 2019: $446,6222019Revenue 2020: $47,600,427Expenses 2020: $50,992,211Net Income 2020: -$3,391,7842020Revenue 2021: $55,181,768Expenses 2021: $57,015,737Net Income 2021: -$1,833,9692021Revenue 2022: $58,825,092Expenses 2022: $57,649,865Net Income 2022: $1,175,2272022Revenue 2023: $55,284,624Expenses 2023: $59,961,695Net Income 2023: -$4,677,0712023Revenue 2024: $58,157,339Expenses 2024: $61,912,901Net Income 2024: -$3,755,5622024Revenue 2025: $62,197,304Expenses 2025: $64,856,060Net Income 2025: -$2,658,7562025

Highlighted filing

2015

Revenue$63,732,471
Expenses$43,007,558
Net Income$20,724,913
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 12, 2016
Return Version
2014v6.0
Gross Receipts
$110,740,123
Mission and Program Overview

Mission

The blake school provides students with an excellent, academically challenging education in a diverse and supportive community committed to a common set of values. Students are expected to participate in an integrated program of academic, artistic and athletic activities in preparation for college, life-long learning, community service and lives as responsible world citizens.

To provide students with an excellent, academically challenging education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$45,576,665$46,827,365▲ $1,250,700
Land, Buildings, and Equipment, Net$42,428,760$41,861,946▼ $566,814
Pledges and Grants Receivable$2,820,701$13,359,542▲ $10,538,841
Investments Other Securities$17,167,307$12,347,278▼ $4,820,029
Cash and Non-Interest-Bearing Accounts$2,668,244$6,439,156▲ $3,770,912
Savings and Temporary Cash Investments$37,815$4,012,363▲ $3,974,548
Accounts Receivable$315,206$281,368▼ $33,838
Prepaid Expenses and Deferred Charges$107,432$210,908▲ $103,476
Inventories for Sale or Use$28,595$44,207▲ $15,612
Receivables From Officers Etc$40,000$30,000▼ $10,000
Total Assets$111,391,609$125,650,976▲ $14,259,367
Other Assets Total$200,884$236,843▲ $35,959
Liabilities
Tax Exempt Bond Liabilities$10,495,804$9,532,416▼ $963,388
Accounts Payable and Accrued Expenses$4,515,710$3,661,907▼ $853,803
Deferred Revenue$2,690,042$2,598,090▼ $91,952
Other Liabilities$444,289$848,682▲ $404,393
Total Liabilities$18,145,845$16,641,095▼ $1,504,750
Net Assets / Fund Balance
Unrestricted Net Assets$58,030,554$64,188,653▲ $6,158,099
Permanently Rstr Net Assets$24,913,667$32,574,856▲ $7,661,189
Temporarily Rstr Net Assets$10,301,543$12,246,372▲ $1,944,829
Total Net Assets Fund Balance$93,245,764$109,009,881▲ $15,764,117
Total Liabilities and Net Assets / Fund Balance$111,391,609$125,650,976▲ $14,259,367

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,657,670$26,592,109$60,249,779
Equipment$2,446,090$6,031,535$8,477,625
Land$4,597,642-$3,177,214
Other Land Buildings$847,780-$847,780
Leasehold Improvements$312,764$218,133$530,897
Other Securities$1,277,345--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$58,857,768$2,692,928▲ $1,674,962$2,675,773$60,549,885
2013$52,881,200$1,213,026▲ $7,310,924$2,547,382$58,857,768
2012$48,132,149$524,093▲ $6,294,431$2,069,473$52,881,200
2011$48,877,435$540,547▲ $611,413$1,897,246$48,132,149
2010$41,226,620$902,899▲ $8,463,944$1,716,028$48,877,435
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Anne E StavneyHead of SchoolFT$285,000$204,062$489,062
Marc G BogurskyDirector of Business and FinanceFT$216,098$64,071$280,169
Anne GraybealAssociate Head of SchoolFT$158,542$32,038$190,580
David BoxerDirector of Information SupportFT$139,659$35,808$175,467
Patricia FrasherControllerFT$138,126$19,605$157,731
Paul R MengeInterim Upper School DirectorFT$137,546$20,014$157,560
Raymond YuLower School DirectorFT$130,429$25,614$156,043

Highest Paid Contractors

ContractorServicesLocationCompensation
Taher INCFood ServicePO BOX 44719, Madison, WI 53744$1,462,208
Five Star H Enterprises INCJanitorialPO BOX 14612, Minneapolis, MN 55414$267,840
Hbm Services INCCleaning ServicesPO BOX 3903, Minneapolis, MN 55403$194,199
U B Architecture & DesignArchitectural Consulting2609 ALDRICH AVENUE SOUTH SUITE 10, Minneapolis, MN 55408$170,503
Parallel TechnologiesTechnology/security UpdatesVB 147, Minneapolis, MN 55480$170,450
Revenue and Support

Revenue Composition

Contributions and Grants
$19,132,907
Program Service Revenue
$37,709,581
Investment Income
$6,798,367
Other Revenue
$91,616
All Other Contributions
$19,111,160
Change in Net Assets
$20,724,913

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded15$1,091,496Stock Market Quotes
Other Non Cash Contri Table12$3,500Estimated Value
Other Non Cash Contri Table1$2,385Estimated Value
Clothing and Household Goods-$974Estimated Value
Total Noncash Contributions28$1,098,355-

Audited Revenue Reconciliation

Revenue per Audited Statements
$57,677,692
Revenue Not Reported on Financial Statements
$6,054,779
Revenue Not Reported on Form 990
$-4,689,736
Other Revenue Adjustments
$5,939,149
Total Revenue per Audited Statements
$52,987,956
Total Revenue per Form 990
$63,732,471
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,383,854
Other Expenses$10,684,555
Grants and Similar Amounts Paid$5,939,149
Total Fundraising Expense$1,796,638
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$18,152,241$1,440,484$848,914$20,441,639
Grants to Domestic Individuals$5,939,149--$5,939,149
Depreciation Depletion$2,125,913$83,024$13,463$2,222,400
Fees for Services Other$1,834,891$221,557$129,453$2,185,901
Other Employee Benefits$1,860,844$163,987$115,433$2,140,264
Payroll Taxes$1,312,104$136,661$78,761$1,527,526
Pension Plan Contributions$1,274,837$106,588$57,491$1,438,916
Occupancy$1,296,058$81,290$7,758$1,385,106
Current Officers, Directors, Trustees, and Key Employees$53,785$512,799$268,925$835,509
All Other Expenses$186,194$302,120$48,645$536,959
Information Technology$462,809--$462,809
Travel$392,322$30,040$18,625$440,987
Office Expenses$225,196$86,182$104,183$415,561
Interest$377,916$14,611$2,369$394,896
Conferences and Meetings$97,415$145,098$79,655$322,168
Other Expenses$130,853$45,129$6,199$182,181
Insurance$25,434$142,796-$168,230
Advertising$23,624$103,809$14,192$141,625
Fees for Services Legal-$124,409-$124,409
Fees for Service Investment Mgmnt Fees-$115,630-$115,630
Fees for Services Accounting-$36,404-$36,404
Total Functional Expenses$36,749,265$4,461,655$1,796,638$43,007,558

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$43,007,558
Total Expenses per Audited Statements$37,223,839
Expenses per Audited Statements$36,952,779
Expenses Not Reported on Financial Statements$6,054,779
Other Expense Adjustments$5,939,149
Expenses Not Reported on Form 990$271,060
International Activity

International Summary

Offices
0
Employees
0
Spending
$5,925,671

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$4,614,493
Europe (including Iceland & Greenland) -InvestmentsN/a00$1,311,178
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$17,655
Fundraising Gross Income$11,920
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Greater Blake Open Golf Outing$31,670$11,920$1,559$10,361
Total Events$31,670$11,920$17,655$-5,735
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board Trustee Is Principal of Faegre Baker Daniels LlpLegal ServicesNo$124,583

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$40,000$30,000▼ $10,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Asset Retirement Obligation$390,370
Capital Lease Obligation$369,708
Split-interest Agreements Payable$88,604

Bond Issues

BondIssuerIssuedIssue PricePurpose
CCity of Minneapolis2010-05-19$7,761,234REFUNDING/REFINANCE
ACity of Hopkins2007-08-02$5,310,013REFUNDING/REFINANCE
BCity of Wayzata2005-06-23$1,985,134FACILITIES CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$7,761,234-$2,725,000$149,450
A$5,310,013$5,204,113$1,885,000$105,900
B$1,985,134$7,611,784$715,000$40,000

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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, Section A, Line 1

The executive committee shall be comprised of the officers of the board of trustees and shall serve as the head of school compensation and evaluation committee. When completion of the head of school evaluation extends beyond june 30, for the purposes of completing this task the committee's work may extend into the three months following their formal year of service.

Form 990, Part VI, Section B, Line 11

Prior to its filing, the form 990 was reviewed by the chief financial and operating officer, the head of school, and the finance committee before being provided to all trustees for approval.

Form 990, Part VI, Section B, Line 12C

The school's conflict of interest policy applies to its trustees, officers, administrators, faculty and other employees. When a potential conflict of interest exists, the person with the conflict notifies the chair of the board of trustees or the head of school, so that they may take appropriate actions. A trustee who is directly or indirectly involved in a potential conflict of interest is not allowed to vote on any action of the board regarding the potential conflict and is not counted in determining the existence of a quorum at any meeting of the board where the potential conflict is considered. Proceedings related to conflicts of interest are documented in the meeting minutes or as otherwise appropriate.

Form 990, Part VI, Section B, Line 15

The compensation packages for the head of school and other significant positions designated by the school (including director of business and finance, director of institutional advancement, assistant head of school, upper school director, middle school director and lower school director) are each reviewed by the compensation committee of the board annually. The committee is comprised entirely of independent persons and utilizes salary and benefit survey data obtained from various sources. Minutes from the meeting are maintained and approved by the committee. This process was most recently undertaken during the 2014-2015 school year for the head of school, a. Stavney; and other officers and highly compensated employees.

Form 990, Part VI, Section C, Line 19

The school's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Blake School
EIN
23-7243247
Phone
9529883451
Address
110 BLAKE ROAD SOUTH, HOPKINS, MN 55343

Signing Officer

Name
Anne E Stavney
Title
Head of School
Phone
9529883451
Signed
2016-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne E Stavney
Formed
1900
Legal Domicile
Mn
Voting Board Members
23
Independent Board Members
21
Employees
633
Volunteers
450

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Matthew Stowell
Phone
6123764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of beneficial interest in trust -127,860. Change in value of split-interest agreements 11,537.

Financial Statement Notes

PART V, LINE 4:

The school's endowment consists of approximately 300 funds that are used to provide financial aid and instructional programs for students, to provide development opportunities for faculty, and to support school operations.

PART X, LINE 2:

The school qualifies as a tax-exempt nonprofit corporation under section 501(c)(3) of the internal revenue code and similar statutes of minnesota law. Accordingly, income taxes have not been recorded in the accompanying financial statements. The school has not taken any uncertain tax positions that require recognition under applicable accounting guidance.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of beneficial interest in trust -127,860. Change in value of split-interest agreements 11,537. Rental expenses 253,405. Fundraising event expense 17,655.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 5,939,149.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 253,405. Fundraising event expense 17,655.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 5,939,149.

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IRS990/Desc0THE BLAKE SCHOOL IS AN INDEPENDENT PRE-KINDERGARTEN THROUGH GRADE 12 SCHOOL SERVING STUDENTS THROUGHOUT THE TWIN CITIES WITH CAMPUSES LOCATED IN MINNEAPOLIS, HOPKINS AND WAYZATA. ENROLLMENT IN 2014-15 WAS 1,363 STUDENTS. IN SUPPORT OF ITS COMMITMENT TO CULTURAL AND SOCIOECONOMIC DIVERSITY AS BEING AN ESSENTIAL PART OF ITS EDUCATIONAL GOALS, THE SCHOOL GRANTED $5,939,149 IN FINANCIAL AID TO 305 STUDENTS.
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IRS990/Form990PartVIISectionAGrp/PersonNm1FORREST G BURKE
IRS990/Form990PartVIISectionAGrp/PersonNm2JAMES LESLIE
IRS990/Form990PartVIISectionAGrp/PersonNm3PETER AHN
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IRS990/Form990PartVIISectionAGrp/PersonNm13MARGARET O'BRIEN JONES
IRS990/Form990PartVIISectionAGrp/PersonNm14MICHELLE M KEELEY
IRS990/Form990PartVIISectionAGrp/PersonNm15LOCKIE MARKUSEN
IRS990/Form990PartVIISectionAGrp/PersonNm16CHERYL MAYBERRY
IRS990/Form990PartVIISectionAGrp/PersonNm17LARKIN MCPHEE
IRS990/Form990PartVIISectionAGrp/PersonNm18SALVADOR MENDOZA
IRS990/Form990PartVIISectionAGrp/PersonNm19MARK MITCHELL
IRS990/Form990PartVIISectionAGrp/PersonNm20JOHN L MORRISON JR
IRS990/Form990PartVIISectionAGrp/PersonNm21KATE MORTENSON
IRS990/Form990PartVIISectionAGrp/PersonNm22JOAN ATWATER NOLAN
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IRS990/Form990PartVIISectionAGrp/PersonNm27JAMIE WILSON
IRS990/Form990PartVIISectionAGrp/PersonNm28SUSAN WOLF
IRS990/Form990PartVIISectionAGrp/PersonNm29ROB ZEASKE
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IRS990/Form990PartVIISectionAGrp/PersonNm34PATRICIA FRASHER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF BUSINESS AND FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt31ASSOCIATE HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt32LOWER SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33INTERIM UPPER SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR OF INFORMATION SUPPORT
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$206$41.2$165$62.2$64.9$2.66
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$201$41.3$159$58.2$61.9$3.76
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$200$44.6$156$55.3$60.0$4.68
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$202$45.0$157$58.8$57.6$1.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$22.3$169$55.2$57.0$1.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$170$29.0$141$47.6$51.0$3.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$26.0$143$51.4$51.0$0.45
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$27.1$142$59.3$49.0$10.3
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$17.0$130$57.9$47.0$10.9
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$134$16.6$118$59.3$45.0$14.4
2015Detailed filing. Detailed filing data is available for this year.$126$16.6$109$63.7$43.0$20.7
2014Detailed filing. Detailed filing data is available for this year.$111$18.1$93.2$44.5$41.9$2.61
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$18.9$85.7$38.3
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$96.9$19.2$77.7$38.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.2$20.1$76.1$37.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.3$20.2$68.0$36.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $100M-$250M nonprofits