Civic Intelligence

The Walden School

990 • Fiscal year 2017 • EIN 35-2374612

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 13, 2018

30 Monterey BoulevardSan Francisco, CA 94131

(415) 648-4710

Siviq Scores

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

Liabilities / Assets

80th percentile

0.37x

Higher debt load relative to assets than 80% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

0.27x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

27th percentile

-5.0%

Higher net margin than 27% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

87th percentile

$95,000

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 12.6% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

44th percentile

1.3%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

19th percentile

-14%

Faster revenue growth than 19% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Up

$549,002

Up $6,893 (+1.3%) from 2016

Net Assets

Down

$348,193

Down $35,323 (-9.2%) from 2016

Liabilities

Up

$200,809

Up $42,216 (+27%) from 2016

Revenue

Down

$755,333

Down $122,179 (-14%) from 2016

Expenses

Up

$792,923

Up $20,888 (+2.7%) from 2016

Net Income

Down

-$37,590

Down $143,067 (-136%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $266,205Liabilities 2010: $17,310Net Assets 2010: $248,8952010Assets 2011: $504,611Liabilities 2011: $159,829Net Assets 2011: $344,7822011Assets 2012: $389,967Liabilities 2012: $141,047Net Assets 2012: $248,9202012Assets 2013: $365,509Liabilities 2013: $123,109Net Assets 2013: $242,4002013Assets 2014: $477,518Liabilities 2014: $162,643Net Assets 2014: $314,8752014Assets 2015: $429,317Liabilities 2015: $152,243Net Assets 2015: $277,0742015Assets 2016: $542,109Liabilities 2016: $158,593Net Assets 2016: $383,5162016Assets 2017: $549,002Liabilities 2017: $200,809Net Assets 2017: $348,1932017Assets 2019: $475,853Liabilities 2019: $231,215Net Assets 2019: $244,6382019Assets 2020: $458,459Liabilities 2020: $155,932Net Assets 2020: $302,5272020Assets 2021: $513,130Liabilities 2021: $231,090Net Assets 2021: $282,0402021Assets 2022: $879,304Liabilities 2022: $206,210Net Assets 2022: $673,0942022Assets 2024: $737,550Liabilities 2024: $297,373Net Assets 2024: $440,1772024

Highlighted filing

2017

Assets$549,002
Liabilities$200,809
Net Assets$348,193

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $708,4052010Expenses 2011: $839,0502011Expenses 2012: $771,8212012Expenses 2013: $672,8622013Revenue 2014: $862,722Expenses 2014: $791,247Net Income 2014: $71,4752014Revenue 2015: $772,927Expenses 2015: $811,978Net Income 2015: -$39,0512015Revenue 2016: $877,512Expenses 2016: $772,035Net Income 2016: $105,4772016Revenue 2017: $755,333Expenses 2017: $792,923Net Income 2017: -$37,5902017Revenue 2019: $963,128Expenses 2019: $1,011,930Net Income 2019: -$48,8022019Revenue 2020: $546,306Expenses 2020: $488,482Net Income 2020: $57,8242020Revenue 2021: $1,000,739Expenses 2021: $1,010,402Net Income 2021: -$9,6632021Revenue 2022: $1,451,099Expenses 2022: $1,059,115Net Income 2022: $391,9842022Revenue 2024: $1,186,159Expenses 2024: $1,462,247Net Income 2024: -$276,0882024

Highlighted filing

2017

Revenue$755,333
Expenses$792,923
Net Income-$37,590
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 13, 2018
Return Version
2016v3.0
Gross Receipts
$755,913
Mission and Program Overview

Mission

The walden school inspires artistic expression and personal growth through experiential music programs.

The Walden School is a summer music school and festival offering residential programs that emphasize creative application, specifically through the study of musicianship, improvisation, and composition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$454,067$458,092▲ $4,025
Cash and Non-Interest-Bearing Accounts$28,898$45,503▲ $16,605
Pledges and Grants Receivable$33,916$34,315▲ $399
Accounts Receivable$1,645$3,400▲ $1,755
Savings and Temporary Cash Investments$18,883$2,992▼ $15,891
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$542,109$549,002▲ $6,893
Other Assets Total$4,700$4,700→ $0
Liabilities
Accounts Payable and Accrued Expenses$151,112$193,752▲ $42,640
Other Liabilities$7,481$7,057▼ $424
Total Liabilities$158,593$200,809▲ $42,216
Net Assets / Fund Balance
Unrestricted Net Assets$272,890$232,567▼ $40,323
Permanently Rstr Net Assets$86,312$86,312→ $0
Temporarily Rstr Net Assets$24,314$29,314▲ $5,000
Total Net Assets Fund Balance$383,516$348,193▼ $35,323
Total Liabilities and Net Assets / Fund Balance$542,109$549,002▲ $6,893

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$19,006$19,006

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$86,312---$86,312
2015$86,312---$86,312
2014$86,312---$86,312
2013$86,312---$86,312
2012$86,312---$86,312
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Seth BrenzelExec DirectorFT$95,000$95,000

Board Members and Trustees

NameTitle
Rita MitraChairperson
Peter ColohanVice Chair
Carlos ShimizuDirector
Carol BrownDirector
Ellen BernardDirector
James AtheyDirector
Joe MurilloDirector
Loring Caitlin JrDirector
Mikyoung KimDirector
Nol TheodosiouDirector
Robin KenneyDirector
Teresa McColloughDirector
Thomas EwingDirector
Charlie MacVeaghEmeritus Director
John O'MearaEmeritus Director
Michael CornogEmeritus Director
Anne HaxoSecretary
Steve MessnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$501,429
Program Service Revenue
$249,001
Investment Income
$3,260
Other Revenue
$1,643
All Other Contributions
$501,429
Change in Net Assets
$-37,590

Audited Revenue Reconciliation

Revenue per Audited Statements
$755,333
Revenue Not Reported on Form 990
$1,150
Total Revenue per Audited Statements
$756,483
Total Revenue per Form 990
$755,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$479,839
Salaries, Compensation, and Employee Benefits$313,084
Total Fundraising Expense$124,013
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$118,500$23,417$60,375$202,292
Occupancy$128,496$17,711$4,971$151,178
Current Officers, Directors, Trustees, and Key Employees$42,750$28,500$23,750$95,000
All Other Expenses$22,757$11,950$20,215$54,922
Travel$18,369$8,425$2,788$29,582
Advertising$17,648$5,392$1,575$24,615
Insurance$500$20,063-$20,563
Payroll Taxes$8,565$2,758$4,469$15,792
Other Expenses$3,636$7,565$1,990$13,191
Fees for Services Accounting-$11,064-$11,064
Fees for Services Other$1,520$8,596-$10,116
Office Expenses$6,519$2,932$111$9,562
Information Technology$3,642$2,446$2,023$8,111
Interest-$156-$156
Total Functional Expenses$516,312$152,598$124,013$792,923

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$793,503
Expenses per Audited Statements$792,923
Total Expenses per Form 990$792,923
Expenses Not Reported on Form 990$580
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$7,057
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Line 11B: Form 990 Review Process

An outside tax professional prepares a draft of the Form 990. Management, including the Executive Director, reviews and provides comments, edits, corrections. After revisions, the Executive Director and several members of the Board of Directors receive a copy of the 990 prior to its filing. A member of the board signs the 990 prior to filing. A complete copy is made available to all members of the Board of Directors via electronic copy.

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

Members of the board of directors review all potential conflicts of interest at least annually, and a signed declaration of conflicts is collected after the annual meeting of the Board (during July each year). The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.

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

Members of the board of directors review the compensation of the Executive Director annually through the organization's annual budgeting process and in accordance with IRS rules and regulations. Compensation data from industry sources are consulted.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Members of the board of directors review the compensation of other high-level personnel annually through the organization's annual budgeting process and in accordance with IRS rules and regulations. Compensation data from industry sources are consulted.

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

ALL OF THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER LEGALFILINGS ARE MAINTAINED IN A SECURE ENVIRONMENT AND HELD AVAILABLE FOR INSPECTION BYTAX AUTHORITIES AND THE GENERAL PUBLIC. TAX RETURNS ARE POSTED ANNUALLY TOWWW.GUIDESTAR.ORG (WHERE THEY ARE AVAILABLE FOR VIEWING AS ELECTRONIC COPIES) AND ARE ALSO AVAILABLE FOR A PHYSICAL INSPECTION AT THE ORGANIZATION'S Administrative OFFICE IN SAN FRANCISCO, CALIFORNIA.

Filing and Contact Details

Filer

Filer Name
The Walden School
EIN
35-2374612
Phone
4156484710
Address
30 Monterey Boulevard, San Francisco, CA 94131

Signing Officer

Name
Steve Messner
Title
Treasurer
Signed
2018-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Seth Brenzel
Formed
1972
Legal Domicile
Nh
Voting Board Members
15
Independent Board Members
15
Employees
29
Volunteers
35

Preparer

Firm
Regalia & Associates CPAs
Address
103 Town Country Dr Ste K, Danville, CA 94526
Preparer
Douglas W Regalia
Phone
9253140390
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Form 990-T Advertising Revenue = $570

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Permanently restricted net assets of $86,312 at September 30, 2014 represent donor contributions that are subject to restrictions of gift instruments requiring that the principal balances be maintained in perpetuity. By law, Walden is permitted to transfer all interest and realized/unrealized gains to unrestricted net assets.

Part X : FIN48 Footnote

Income TaxesFinancial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, Walden is required to report information regarding its exposure to various tax positions taken by Walden and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that Walden has adequately addressed all tax positions and that there are no unrecorded tax liabilities. Management believes that Walden has adequately evaluated its current tax positions and has concluded that as of September 30, 2017, Walden does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.Walden has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. There is no legal requirement to obtain tax-exempt status from the state of New Hampshire. The exemptions are subject to periodic review by the federal and California taxing authorities and management is confident that Walden continues to satisfy all federal and state statutes in order to qualify for continued tax exempt status. Walden may periodically receive unrelated business income requiring Walden to file separate tax returns under federal and state statutes. Under such conditions, Walden calculates, accrues and remits the applicable taxes.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Cost of Inventory Sales $580 Advertising revenue $570

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of Inventory Sales $580

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IRS990/ProgSrvcAccomActy2Grp/Desc0The Walden School Creative Musicians Retreat (CMR) offers training and development opportunities for the well-rounded musician (ages 18+). At the Creative Musicians Retreat (CMR), participants take classes (including courses in The Walden School Musicianship Course), sing in chorus, write music, and improvise. Participants are exposed to a variety of Walden musicianship materials, including acoustics, drills with intervals and triads, resolving structures, rhythms, solfge and harmonic analysis. Classes also include topics in contemporary music and computer music. Composition lessons and master classes are offered.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.30$0.44$1.19$1.46$0.28
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.21$0.67$1.45$1.06$0.39
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.23$0.28$1.00$1.01$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.16$0.30$0.55$0.49$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.23$0.24$0.96$1.01$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.55$0.20$0.35$0.76$0.79$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.54$0.16$0.38$0.88$0.77$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.15$0.28$0.77$0.81$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.48$0.16$0.31$0.86$0.79$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.12$0.24$0.67
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.14$0.25$0.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.16$0.34$0.84
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.02$0.25$0.71