Civic Intelligence

The Madeira School Inc

EIN 54-0505925 • 501(c)3 • Mclean, VA

Linked School Profile

The Madeira School

McLean, VA • Boarding and Day

Profile

Education - founded in 1906, madeira is a boarding and day college preparatory school for girls in grades nine through twelve. Madeira is a girls school by design where every aspect of academic, social and athletic life is directed toward educating the next generation of young women for leadership.

Refreshing map…

8328 Georgetown PikeSuiteMclean, VA 22102-1203
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

24th percentile

0.07x

Higher debt load relative to assets than 24% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

48th percentile

0.39x

Higher debt load relative to revenue than 48% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

77th percentile

21%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

28th percentile

$323,845

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

18th percentile

-1.7%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-2.2%

Faster revenue growth than 23% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$211,478,796

Up $10,772,927 (+5.4%) from 2022

Liabilities

Down

$26,163,480

Down $71,839 (-0.3%) from 2022

Net Assets

Up

$185,315,316

Up $10,844,766 (+6.2%) from 2022

Revenue

Up

$37,648,678

Up $19,257,502 (+105%) from 2022

Expenses

Up

$27,872,783

Up $1,121,980 (+4.2%) from 2022

Net Income

Up

$9,775,895

Up $18,135,522 (+217%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $117,424,378Liabilities 2010: $36,126,515Net Assets 2010: $81,297,8632010Assets 2011: $124,001,575Liabilities 2011: $35,165,296Net Assets 2011: $88,836,2792011Assets 2012: $117,763,866Liabilities 2012: $36,566,754Net Assets 2012: $81,197,1122012Assets 2013: $123,913,180Liabilities 2013: $34,869,422Net Assets 2013: $89,043,7582013Assets 2014: $142,745,609Liabilities 2014: $33,387,105Net Assets 2014: $109,358,5042014Assets 2015: $151,104,277Liabilities 2015: $33,520,384Net Assets 2015: $117,583,8932015Assets 2016: $157,333,881Liabilities 2016: $33,831,092Net Assets 2016: $123,502,7892016Assets 2017: $167,070,819Liabilities 2017: $34,415,811Net Assets 2017: $132,655,0082017Assets 2018: $173,474,346Liabilities 2018: $34,213,843Net Assets 2018: $139,260,5032018Assets 2019: $184,794,841Liabilities 2019: $32,181,712Net Assets 2019: $152,613,1292019Assets 2020: $187,352,923Liabilities 2020: $33,278,568Net Assets 2020: $154,074,3552020Assets 2021: $209,297,473Liabilities 2021: $27,577,442Net Assets 2021: $181,720,0312021Assets 2022: $200,705,869Liabilities 2022: $26,235,319Net Assets 2022: $174,470,5502022Assets 2023: $211,478,796Liabilities 2023: $26,163,480Net Assets 2023: $185,315,3162023

Highlighted filing

2023

Assets$211,478,796
Liabilities$26,163,480
Net Assets$185,315,316

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $21,010,2822010Expenses 2011: $21,451,0912011Expenses 2012: $21,771,7282012Expenses 2013: $22,093,9362013Revenue 2014: $33,715,037Expenses 2014: $22,487,257Net Income 2014: $11,227,7802014Revenue 2015: $32,901,630Expenses 2015: $23,011,428Net Income 2015: $9,890,2022015Revenue 2016: $27,227,177Expenses 2016: $23,505,173Net Income 2016: $3,722,0042016Revenue 2017: $27,353,613Expenses 2017: $24,060,719Net Income 2017: $3,292,8942017Revenue 2018: $31,629,681Expenses 2018: $24,235,796Net Income 2018: $7,393,8852018Revenue 2019: $40,987,835Expenses 2019: $25,491,047Net Income 2019: $15,496,7882019Revenue 2020: $29,698,147Expenses 2020: $24,703,812Net Income 2020: $4,994,3352020Revenue 2021: $36,674,102Expenses 2021: $25,260,183Net Income 2021: $11,413,9192021Revenue 2022: $18,391,176Expenses 2022: $26,750,803Net Income 2022: -$8,359,6272022Revenue 2023: $37,648,678Expenses 2023: $27,872,783Net Income 2023: $9,775,8952023

Highlighted filing

2023

Revenue$37,648,678
Expenses$27,872,783
Net Income$9,775,895

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$211$26.2$185$37.6$27.9$9.78
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$201$26.2$174$18.4$26.8$8.36
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$209$27.6$182$36.7$25.3$11.4
2020Summary only. Only limited summary data is available for this year.$187$33.3$154$29.7$24.7$4.99
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$185$32.2$153$41.0$25.5$15.5
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$173$34.2$139$31.6$24.2$7.39
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$167$34.4$133$27.4$24.1$3.29
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$157$33.8$124$27.2$23.5$3.72
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$151$33.5$118$32.9$23.0$9.89
2014Detailed filing. Detailed filing data is available for this year.$143$33.4$109$33.7$22.5$11.2
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$124$34.9$89.0$22.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$36.6$81.2$21.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$124$35.2$88.8$21.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$36.1$81.3$21.0
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2014 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 12, 2015
Return Version
2013v4.0
Gross Receipts
$42,753,694
Mission and Program Overview

Mission

Madeira is a boarding and day college preparatory school for girls in grades nine through twelve. Madeira is a girl's school by design, where every aspect of academic, social, and athletic life is directed toward educating the next generation of young women for leadership.

Madeira is a girls school by design where every aspect of academic, social and athletic life is directed toward educating the next generation of young women for leadership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$38,749,927$38,253,923▼ $496,004
Investments Other Securities$28,497,363$36,351,648▲ $7,854,285
Savings and Temporary Cash Investments$19,184,162$27,751,508▲ $8,567,346
Investments in Publicly Traded Securities$28,750,089$27,390,407▼ $1,359,682
Pledges and Grants Receivable$1,678,517$4,664,856▲ $2,986,339
Accounts Receivable$1,520,235$1,208,808▼ $311,427
Prepaid Expenses and Deferred Charges$554,677$501,473▼ $53,204
Inventories for Sale or Use$135,645$130,965▼ $4,680
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$123,913,180$142,745,609▲ $18,832,429
Other Assets Total$4,842,565$6,492,021▲ $1,649,456
Liabilities
Tax Exempt Bond Liabilities$17,855,000$17,265,000▼ $590,000
Deferred Revenue$9,112,553$8,533,104▼ $579,449
Other Liabilities$2,860,290$2,838,806▼ $21,484
Accounts Payable and Accrued Expenses$2,097,392$2,726,594▲ $629,202
Mortgage Notes Payable Secured by Investment Property$2,944,187$2,023,601▼ $920,586
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$34,869,422$33,387,105▼ $1,482,317
Net Assets / Fund Balance
Permanently Rstr Net Assets$42,553,494$43,151,932▲ $598,438
Unrestricted Net Assets$29,271,514$33,841,261▲ $4,569,747
Temporarily Rstr Net Assets$17,218,750$32,365,311▲ $15,146,561
Total Net Assets Fund Balance$89,043,758$109,358,504▲ $20,314,746
Total Liabilities and Net Assets / Fund Balance$123,913,180$142,745,609▲ $18,832,429

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,134,796$10,515,438$43,650,234
Other Land Buildings$4,373,195$4,497,935$8,871,130
Equipment$509,166$1,005,548$1,514,714
Land$236,766-$236,766
Other Securities$3,096,235--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$56,003,553$1,384,921▲ $7,225,728$2,249,926$62,364,276
2012$51,721,133$998,391▲ $5,763,265$2,479,236$56,003,553
2011$54,890,087$1,130,912▼ $2,316,005$1,983,861$51,721,133
2010$45,674,407$1,602,367▲ $9,734,350$2,121,037$54,890,087
2009$44,696,181$1,199,073▲ $5,349,091$5,569,935$45,674,410
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Pilar Cabeza de VacaHead of SchoolFT$285,496$111,147$396,643
Braughn TaylorChief Financial OfficerFT$191,204$48,200$239,404
Mary Ann MahoneyAcademic DeanFT$125,473$33,707$159,180
Andre WithersDirector of Co-CUR/asst Head of SchFT$89,173$54,933$144,106
Ann DeeganControllerFT$99,455$19,235$118,690
Louise PetersonDirector of DevelopmentFT$101,102$13,201$114,303
Meredyth ColeAssistant Head of SchoolFT$66,506$35,523$102,029

Highest Paid Contractors

ContractorServicesLocationCompensation
Bowie Gridley Architects PllcArchitect-$1,121,095
Sodexho INC AffiliatesFood Service-$573,928
Red Coats INCCleaning Services-$509,789
Admiral Security ServicesSecurity Services-$234,281
Rhodeside Harwell INCLandscape Architect-$181,796
Revenue and Support

Revenue Composition

Contributions and Grants
$14,462,657
Program Service Revenue
$17,007,388
Investment Income
$2,244,992
Other Revenue
$0
All Other Contributions
$14,462,657
Change in Net Assets
$11,227,780

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded26$1,122,945Fair Market Value (FMV)
Other Non Cash Contri Table6$30,000Fair Market Value (FMV)
Total Noncash Contributions32$1,152,945-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,478,482
Revenue Not Reported on Financial Statements
$-2,763,445
Revenue Not Reported on Form 990
$3,276,397
Other Revenue Adjustments
$-2,986,339
Total Revenue per Audited Statements
$39,754,879
Total Revenue per Form 990
$33,715,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,002,533
Other Expenses$9,404,671
Grants and Similar Amounts Paid$2,891,334
Total Fundraising Expense$1,773,044
Professional Fundraising Fees$188,719

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,527,754$826,474$850,995$7,205,223
Fees for Services Other$3,478,947$155,701$190,288$3,824,936
Grants to Domestic Individuals$2,891,334--$2,891,334
Occupancy$1,762,847--$1,762,847
Office Expenses$803,217$181,938$219,467$1,204,622
Depreciation Depletion$1,123,127--$1,123,127
Current Officers, Directors, Trustees, and Key Employees-$939,477-$939,477
Other Employee Benefits$583,696$71,882$68,274$723,852
Payroll Taxes$424,821$103,001$64,199$592,021
Pension Plan Contributions$395,246$79,710$67,004$541,960
Other Expenses$6,303$309,257$12,980$328,540
Conferences and Meetings$162,445$88,796$17,809$269,050
Travel$68,739$58,789$93,309$220,837
Fees for Service Investment Mgmnt Fees-$217,925-$217,925
Insurance$36,613$175,810-$212,423
Fees for Services Professional Fundraising--$188,719$188,719
Information Technology$79,105$1,995-$81,100
Fees for Services Accounting-$75,760-$75,760
Interest-$48,994-$48,994
Fees for Services Legal-$34,510-$34,510
Total Functional Expenses$17,344,194$3,370,019$1,773,044$22,487,257

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,487,257
Expenses per Audited Statements$19,440,133
Total Expenses per Audited Statements$19,440,133
Expenses Not Reported on Financial Statements$3,047,124
Other Expense Adjustments$2,824,230
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$188,719
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Agreement$2,838,806

Bond Issues

BondIssuerIssuedIssue PricePurpose
A54-60012662010-02-02$18,965,000Refunding of series 2003 bond

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$18,965,000$0$18,965,000$0

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
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 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

PART VI Section B. Policies, QUESTION 12C

At the first board meeting each fiscal year, board members and key employees are given a form to fill out and sign.

Part VI, Section B, Line 15

The compensation of the person is reviewed and approved by the board of directors of the school provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. The compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations.

part VI, section C, line 19

990 is made available upon request. other organizational documents are not available to the general public.

part VI, section B, line 11B

The board of directors along with the treasurer and staff will be reviewing the 990 prior to filing.

Filing and Contact Details

Filer

EIN
54-0505925
In Care Of
% ALEXANDER C HEIBERGER CFO
Phone
7035568241

Signing Officer

Name
Alexander C Heiberger
Title
CFO
Phone
7035568241
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alexander C Heiberger CFO
Formed
1906
Legal Domicile
Va
Voting Board Members
27
Independent Board Members
27
Employees
315
Volunteers
250

Preparer

Preparer
Philip R Baker
Phone
7035568241
Supplemental Narrative

Additional Explanations

Form 990, Part XII - Question 2C

There has been no change in the process by which the audit committee conducts and approves the audit.

Part XI, Line 9

Increase in contributions receivable......$2,986,339 change in split interest agreements.........$494,027 gain on interest rate swap agreement.........$21,484 total ....................................$3,501,850

Financial Statement Notes

Schedule D, Part V, Question 4

The School's endowment consists of approximately 50 individual funds established for a variety of purposes. Its endowment includes both donor-restricted funds and funds designated by the Board of Directors to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.

Schedule D, Part X, Line 2

The School is exempt under section 501(c)(3) of the Internal Revenue Code of 1986. The School has filed for and received income tax exemptions in the various jurisdictions where it is required to do so. The School files Forms 990 and 990-T (information and tax returns) in the U.S. federal jurisdiction and their equivalents in the state of Virginia. With few exceptions, the School is no longer subject to U.S. federal, state, and local income tax examinations by taxing authorities for years before 2009. Management of the School believes it has no material uncertain tax positions.

Schedule D, Part XI, Line 2D

Gain on interest rate swap agreement...................($21,484) financial aid offset against revenues................$2,824,230 change in split interest agreements...................($494,027) total................................................$2,308,719

Schedule D, Part XI Line 4B Other

Increase in contributions receivable....$2,986,339

Schedule D, Part XII, Line 4B

Financial aid (portion) $2,824,230

Raw XML AppendixShowing 400 of 965 raw XML fields

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

Path#Value
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