Civic Intelligence

Speyer Legacy School

990 • Fiscal year 2023 • EIN 26-4274070

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 14, 2023

925 9th AvenueNew York, NY 10019

(212) 581-4000

Siviq Scores

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

Liabilities / Assets

78th percentile

0.82x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • NTEE B • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

2.06x

Higher debt load relative to revenue than 73% of similar nonprofits.

2023 filings • NTEE B • $50M-$100M nonprofits • Source year 2023

Net Margin

79th percentile

17%

Higher net margin than 79% of similar nonprofits.

2023 filings • NTEE B • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$556,312

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2023 filings • NTEE B • $50M-$100M nonprofits • Source year 2023

Asset Growth

91st percentile

256%

Faster asset growth than 91% of similar nonprofits.

2023 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

23rd percentile

-11%

Faster revenue growth than 23% of similar nonprofits.

2023 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$57,519,660

Up $41,358,846 (+256%) from 2022

Net Assets

Up

$10,167,534

Up $4,051,249 (+66%) from 2022

Liabilities

Up

$47,352,126

Up $37,307,597 (+371%) from 2022

Revenue

Down

$23,003,948

Down $2,808,178 (-11%) from 2022

Expenses

Up

$18,980,391

Up $424,503 (+2.3%) from 2022

Net Income

Down

$4,023,557

Down $3,232,681 (-45%) from 2022

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2012: $912,550Liabilities 2012: $1,328,961Net Assets 2012: -$416,4112012Assets 2013: $7,905,019Liabilities 2013: $8,398,605Net Assets 2013: -$493,5862013Assets 2014: $14,453,625Liabilities 2014: $15,967,713Net Assets 2014: -$1,514,0882014Assets 2015: $15,217,258Liabilities 2015: $17,332,665Net Assets 2015: -$2,115,4072015Assets 2016: $14,930,672Liabilities 2016: $18,839,424Net Assets 2016: -$3,908,7522016Assets 2017: $15,956,368Liabilities 2017: $19,484,115Net Assets 2017: -$3,527,7472017Assets 2018: $16,414,119Liabilities 2018: $19,801,502Net Assets 2018: -$3,387,3832018Assets 2019: $17,146,037Liabilities 2019: $20,365,545Net Assets 2019: -$3,219,5082019Assets 2020: $18,566,850Liabilities 2020: $21,129,816Net Assets 2020: -$2,562,9662020Assets 2021: $20,441,769Liabilities 2021: $21,505,159Net Assets 2021: -$1,063,3902021Assets 2022: $16,160,814Liabilities 2022: $10,044,529Net Assets 2022: $6,116,2852022Assets 2023: $57,519,660Liabilities 2023: $47,352,126Net Assets 2023: $10,167,5342023Assets 2024: $56,525,157Liabilities 2024: $44,444,333Net Assets 2024: $12,080,8242024

Highlighted filing

2023

Assets$57,519,660
Liabilities$47,352,126
Net Assets$10,167,534

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2012: $4,743,5112012Expenses 2013: $6,156,0262013Revenue 2014: $10,299,413Expenses 2014: $11,233,699Net Income 2014: -$934,2862014Revenue 2015: $13,852,303Expenses 2015: $14,453,623Net Income 2015: -$601,3202015Revenue 2016: $15,466,399Expenses 2016: $16,696,040Net Income 2016: -$1,229,6412016Revenue 2017: $17,166,281Expenses 2017: $16,785,276Net Income 2017: $381,0052017Revenue 2018: $17,248,247Expenses 2018: $17,125,091Net Income 2018: $123,1562018Revenue 2019: $18,111,266Expenses 2019: $17,978,658Net Income 2019: $132,6082019Revenue 2020: $19,011,183Expenses 2020: $18,399,490Net Income 2020: $611,6932020Revenue 2021: $19,556,887Expenses 2021: $18,115,302Net Income 2021: $1,441,5852021Revenue 2022: $25,812,126Expenses 2022: $18,555,888Net Income 2022: $7,256,2382022Revenue 2023: $23,003,948Expenses 2023: $18,980,391Net Income 2023: $4,023,5572023Revenue 2024: $23,799,253Expenses 2024: $21,881,150Net Income 2024: $1,918,1032024

Highlighted filing

2023

Revenue$23,003,948
Expenses$18,980,391
Net Income$4,023,557
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$23,216,593
Mission and Program Overview

Mission

Speyer Legacy School is devoted to providing an optimal environment where advanced learners may realize their full potential in the company of both exceptional classmates and teachers who share, and will foster, their passion for learning. (Continued Schedule O)

At The Speyer Legacy School, students are inspired to be intellectually curious and passionate. They realize their full potential as accelerated learners in a collaborative community that is committed to ethical values and action. (Contd Schedule O)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,538,906$7,756,001▼ $782,905
Savings and Temporary Cash Investments$621,698$7,235,031▲ $6,613,333
Investments in Publicly Traded Securities$3,157,727$3,664,049▲ $506,322
Accounts Receivable$6,613$1,192,147▲ $1,185,534
Cash and Non-Interest-Bearing Accounts$3,650,378$486,709▼ $3,163,669
Prepaid Expenses and Deferred Charges$121,239$139,621▲ $18,382
Pledges and Grants Receivable$64,253$47,228▼ $17,025
Total Assets$16,160,814$57,519,660▲ $41,358,846
Other Assets Total-$36,998,874-
Liabilities
Other Liabilities$731,171$37,438,615▲ $36,707,444
Deferred Revenue$9,128,563$9,590,221▲ $461,658
Accounts Payable and Accrued Expenses$184,795$323,290▲ $138,495
Total Liabilities$10,044,529$47,352,126▲ $37,307,597
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,844,489$9,883,519▲ $4,039,030
Net Assets With Donor Restrictions$271,796$284,015▲ $12,219
Total Net Assets Fund Balance$6,116,285$10,167,534▲ $4,051,249
Total Liabilities and Net Assets / Fund Balance$16,160,814$57,519,660▲ $41,358,846

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$7,284,902$7,118,284$14,403,186
Equipment$471,099$773,257$1,244,356
Other Assets Org$36,998,874--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$249,382-▲ $31,203$12,777$267,808
2021$324,188-▼ $56,128$18,678$249,382
2020$265,857$6,472▲ $79,624$27,765$324,188
2019$262,654-▲ $16,712$13,509$265,857
2018$260,304-▲ $25,296$22,946$262,654
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lawrence T Donovan JrHead of SchoolFT$522,790$33,522$556,312
Scott MolinChief Financial & Operating OFT$280,620$40,066$320,686
Scott MolinChief Financial & Operating Officer-$280,620$40,066$320,686
Hatam AnvarChief Technology OfficerFT$198,572$20,990$219,562
Paul DeardsDeputy Head of SchoolFT$166,860$28,384$195,244
Dorothy MeyerHead of Middle SchoolFT$175,416$19,383$194,799
Heather Pinedo-BurnsHead of Lower SchoolFT$166,457$28,103$194,560
Imaani OrrDirector of EnrollmentFT$140,088$22,159$162,247
Allison AshbyDirector of AdvancementFT$126,202$14,896$141,098
Samantha GabrielliTeacherFT$127,481$4,750$132,231

Board Members and Trustees

NameTitle
Angelique LeDouxBoard of Trustees
Arlene LozanoBoard of Trustees
Dave LeisBoard of Trustees
Dr Dev BrarBoard of Trustees
Dr Kelly Posner GerstenhaberBoard of Trustees
Elaine ChristensenBoard of Trustees
Frank VitielloBoard of Trustees
Jennifer SelendyBoard of Trustees
Kristina BergerBoard of Trustees
Maaren ShahBoard of Trustees
Michael EastwoodBoard of Trustees
Michele FelsherBoard of Trustees
Peter S NakadaBoard of Trustees
Shanti IfillBoard of Trustees
Victoria AverbukhBoard of Trustees
Yury DubrovskyBoard of Trustees
Revenue and Support

Revenue Composition

Contributions and Grants
$840,542
Program Service Revenue
$21,769,323
Investment Income
$133,957
Other Revenue
$260,126
All Other Contributions
$840,542
Change in Net Assets
$4,023,557

Noncash Contribution Practices

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

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,999,172
Revenue Not Reported on Financial Statements
$3,004,776
Revenue Not Reported on Form 990
$27,692
Other Revenue Adjustments
$3,004,776
Total Revenue per Audited Statements
$20,026,864
Total Revenue per Form 990
$23,003,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,010,241
Other Expenses$6,965,374
Grants and Similar Amounts Paid$3,004,776
Total Fundraising Expense$638,381
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,281,336$687,801$212,766$6,181,903
Occupancy$2,801,790$747,144$186,786$3,735,720
Grants to Domestic Individuals$3,004,776--$3,004,776
All Other Expenses$1,255,235$112,360$123,083$1,490,678
Current Officers, Directors, Trustees, and Key Employees$603,671$542,015-$1,145,686
Other Employee Benefits$879,972$234,420$21,625$1,136,017
Depreciation Depletion$574,090$322,926-$897,016
Payroll Taxes$455,204$77,706$13,725$546,635
Insurance-$171,172-$171,172
Information Technology$44,236$89,080-$133,316
Advertising$7,120-$72,140$79,260
Conferences and Meetings$69,857$102$191$70,150
Fees for Services Legal-$67,889-$67,889
Fees for Services Other-$48,120-$48,120
Fees for Services Accounting-$22,500-$22,500
Office Expenses-$12,203-$12,203
Travel$6,168--$6,168
Other Expenses$12$2,411$127$2,550
Total Functional Expenses$15,119,163$3,222,847$638,381$18,980,391

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,980,391
Expenses per Audited Statements$15,975,615
Total Expenses per Audited Statements$15,975,615
Expenses Not Reported on Financial Statements$3,004,776
Other Expense Adjustments$3,004,776
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$472,771
Fundraising Direct Expenses$212,645
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various$472,771$472,771$212,645$260,126
Total Events$472,771$472,771$212,645$260,126
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$36,998,873
Rent forbearance payable$437,142
Security deposits$2,600
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
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 governing body review Part VI line 11

The 990 form and the related schedules are provided to and reviewed by the full board after finance committee approval as well as management prior to submittal to the respective tax agencies.

Conflict of interest policy compliance Part VI line 12C

All board members as well as key employees and management are required to annually read and confirm in writing they have no conflicts of interest or otherwise disclose them and to immediately disclose any relationship that may potentially give rise to a conflict of interest. The finance committee is responsible for reviewing any issues that arise.

CEO executive director top management comp Part VI line 15A

A separate committee of the board evaluates the Head of School and recommends compensation. Remainder of senior administration is approved through the budget process which is evaluated and reviewed annually.

Other officer or key employee compensation Part VI line 15B

All compensation for key personnel is approved through the budget process by the board of directors which is evaluated and reviewed annually.

Governing documents etc available to public Part VI line 19

The organization makes available its governing documents, conflict of interest policy and other policies and procedures upon request. The financial statements are also made available upon request. The 990 filing and the related schedules are made available upon request and can also be found on Guidestar.com, which is an independent entity that makes available via their website certain nonprofit information including but not limited to the Form 990.

Filing and Contact Details

Filer

Filer Name
The Speyer Legacy School
EIN
26-4274070
Address
925 9th Avenue, New York, NY 10019

Signing Officer

Name
Scott Molin
Title
Cfoo
Phone
2125814000
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lawrence T Donovan Jr
Formed
2009
Legal Domicile
Ny
Voting Board Members
16
Independent Board Members
16
Employees
110
Volunteers
100

Preparer

Firm
Ketcham & Associates LLC
Address
202 Mountain Avenue, Westfield, NJ 07090
Preparer
Steven Ketcham CPA
Phone
9082324618
Supplemental Narrative

Additional Explanations

General explanation attachment

Form 990, Part I, Line 1) Speyer students learn with like-minded classmates and are guided by academically fearless teachers who share and nourish their enthusiasm for knowledge and inquiry.

Financial Statement Notes

Other revenues included on Form 990 (Part XI, line 4B)

Scholarships and tuition assistance of $3,004,776

Other expenses included on Form 990 (Part XII, line 4B)

Scholarships and tuition assistance of $3,004,776

Footnote for uncertain tax position under FIN 48 (Part X)

The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code, and is not a private organization within the meaning of Section 590(a).Management has evaluated the Organizations tax positions in regards to accounting for uncertainty in income taxes and concluded that the Organization had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. With few exceptions, the Organization is no longer subject to income tax examinations by the U.S. federal, state, or local tax authorities for years before 2020.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Lawrence T Donovan Jr
IRS990/Form990PartVIISectionAGrp/PersonNm1Scott Molin
IRS990/Form990PartVIISectionAGrp/PersonNm2Hatam Anvar
IRS990/Form990PartVIISectionAGrp/PersonNm3Paul Deards
IRS990/Form990PartVIISectionAGrp/PersonNm4Dorothy Meyer
IRS990/Form990PartVIISectionAGrp/PersonNm5Heather Pinedo-Burns
IRS990/Form990PartVIISectionAGrp/PersonNm6Imaani Orr
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IRS990/Form990PartVIISectionAGrp/PersonNm9Dr Kelly Posner Gerstenhaber
IRS990/Form990PartVIISectionAGrp/PersonNm10Maaren Shah
IRS990/Form990PartVIISectionAGrp/PersonNm11Frank Vitiello
IRS990/Form990PartVIISectionAGrp/PersonNm12Arlene Lozano
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IRS990/Form990PartVIISectionAGrp/PersonNm14Yury Dubrovsky
IRS990/Form990PartVIISectionAGrp/PersonNm15Victoria Averbukh
IRS990/Form990PartVIISectionAGrp/PersonNm16Dr Dev Brar
IRS990/Form990PartVIISectionAGrp/PersonNm17Angelique LeDoux
IRS990/Form990PartVIISectionAGrp/PersonNm18Dave Leis
IRS990/Form990PartVIISectionAGrp/PersonNm19Michele Felsher
IRS990/Form990PartVIISectionAGrp/PersonNm20Shanti Ifill
IRS990/Form990PartVIISectionAGrp/PersonNm21Jennifer Selendy
IRS990/Form990PartVIISectionAGrp/PersonNm22Peter S Nakada
IRS990/Form990PartVIISectionAGrp/PersonNm23Michael Eastwood
IRS990/Form990PartVIISectionAGrp/PersonNm24Kristina Berger
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Head of School
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chief Financial & Operating O
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chief Technology Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Deputy Head of School
IRS990/Form990PartVIISectionAGrp/TitleTxt4Head of Middle School
IRS990/Form990PartVIISectionAGrp/TitleTxt5Head of Lower School
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director of Enrollment
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director of Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt8Teacher
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt18Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt19Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt20Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt21Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt22Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt23Board of Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt24Board of Trustees
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IRS990/MissionDesc0At The Speyer Legacy School, students are inspired to be intellectually curious and passionate. They realize their full potential as accelerated learners in a collaborative community that is committed to ethical values and action. (Contd Schedule O)
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.5$44.4$12.1$23.8$21.9$1.92
2023Detailed filing. Detailed filing data is available for this year.$57.5$47.4$10.2$23.0$19.0$4.02
2022Detailed filing. Detailed filing data is available for this year.$16.2$10.0$6.12$25.8$18.6$7.26
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.4$21.5$1.06$19.6$18.1$1.44
2020Detailed filing. Detailed filing data is available for this year.$18.6$21.1$2.56$19.0$18.4$0.61
2019Detailed filing. Detailed filing data is available for this year.$17.1$20.4$3.22$18.1$18.0$0.13
2018Detailed filing. Detailed filing data is available for this year.$16.4$19.8$3.39$17.2$17.1$0.12
2017Detailed filing. Detailed filing data is available for this year.$16.0$19.5$3.53$17.2$16.8$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.9$18.8$3.91$15.5$16.7$1.23
2015Detailed filing. Detailed filing data is available for this year.$15.2$17.3$2.12$13.9$14.5$0.60
2014Detailed filing. Detailed filing data is available for this year.$14.5$16.0$1.51$10.3$11.2$0.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.91$8.40$0.49$6.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$1.33$0.42$4.74