Civic Intelligence

Woodward Academy Inc

EIN 58-0625584 • 501(c)3 • College Park, GA

Profile

Woodward Academy combines the proud traditions of Atlanta's oldest college-preparatory school with an innovative, challenging and well-rounded educational experience. In a broadly diverse and caring community, Woodward embraces the uniqueness of each individual. Guided by our core values of Excellence, Character and Opportunity, we champion student success.

1662 Rugby AvenueCollege Park, GA 30337-2199

www.woodward.edu

Siviq Scores

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

Liabilities / Assets

47th percentile

0.27x

Higher debt load relative to assets than 47% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Liabilities / Revenue

59th percentile

0.59x

Higher debt load relative to revenue than 59% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Net Margin

84th percentile

26%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Top Officer Pay

50th percentile

$843,437

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Asset Growth

23rd percentile

0.2%

Faster asset growth than 23% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Revenue Growth

87th percentile

44%

Faster revenue growth than 87% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Assets

Up

$315,635,252

Up $643,763 (+0.2%) from 2024

Liabilities

Down

$84,382,308

Down $9,371,108 (-10.0%) from 2024

Net Assets

Up

$231,252,944

Up $10,014,871 (+4.5%) from 2024

Revenue

Up

$142,506,393

Up $43,377,449 (+44%) from 2024

Expenses

Up

$104,919,323

Up $4,913,533 (+4.9%) from 2024

Net Income

Up

$37,587,070

Up $38,463,916 (+4387%) from 2024

Trend Graphs

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $241,833,895Liabilities 2010: $114,829,967Net Assets 2010: $127,003,9282010Assets 2011: $256,469,968Liabilities 2011: $110,947,581Net Assets 2011: $145,522,3872011Assets 2012: $250,812,185Liabilities 2012: $120,135,020Net Assets 2012: $130,677,1652012Assets 2013: $273,614,694Liabilities 2013: $110,126,879Net Assets 2013: $163,487,8152013Assets 2014: $296,382,116Liabilities 2014: $122,123,755Net Assets 2014: $174,258,3612014Assets 2015: $294,543,292Liabilities 2015: $120,703,658Net Assets 2015: $173,839,6342015Assets 2016: $293,384,093Liabilities 2016: $124,167,364Net Assets 2016: $169,216,7292016Assets 2017: $297,433,499Liabilities 2017: $119,672,459Net Assets 2017: $177,761,0402017Assets 2018: $305,367,283Liabilities 2018: $118,455,583Net Assets 2018: $186,911,7002018Assets 2019: $301,723,911Liabilities 2019: $118,607,340Net Assets 2019: $183,116,5712019Assets 2020: $297,987,009Liabilities 2020: $119,543,885Net Assets 2020: $178,443,1242020Assets 2021: $335,693,683Liabilities 2021: $117,188,408Net Assets 2021: $218,505,2752021Assets 2022: $316,361,314Liabilities 2022: $105,161,308Net Assets 2022: $211,200,0062022Assets 2023: $303,689,801Liabilities 2023: $98,088,627Net Assets 2023: $205,601,1742023Assets 2024: $314,991,489Liabilities 2024: $93,753,416Net Assets 2024: $221,238,0732024Assets 2025: $315,635,252Liabilities 2025: $84,382,308Net Assets 2025: $231,252,9442025

Highlighted filing

2025

Assets$315,635,252
Liabilities$84,382,308
Net Assets$231,252,944

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $59,721,1992010Expenses 2011: $60,619,8782011Expenses 2012: $72,870,6682012Expenses 2013: $61,004,2602013Revenue 2014: $70,079,325Expenses 2014: $65,285,919Net Income 2014: $4,793,4062014Revenue 2015: $70,766,095Expenses 2015: $67,727,064Net Income 2015: $3,039,0312015Revenue 2016: $80,731,947Expenses 2016: $74,761,368Net Income 2016: $5,970,5792016Revenue 2017: $78,597,112Expenses 2017: $79,377,562Net Income 2017: -$780,4502017Revenue 2018: $95,099,183Expenses 2018: $83,993,755Net Income 2018: $11,105,4282018Revenue 2019: $93,731,942Expenses 2019: $87,929,176Net Income 2019: $5,802,7662019Revenue 2020: $85,209,091Expenses 2020: $85,208,911Net Income 2020: $1802020Revenue 2021: $105,770,995Expenses 2021: $82,932,436Net Income 2021: $22,838,5592021Revenue 2022: $96,875,893Expenses 2022: $88,508,061Net Income 2022: $8,367,8322022Revenue 2023: $91,550,915Expenses 2023: $91,871,289Net Income 2023: -$320,3742023Revenue 2024: $99,128,944Expenses 2024: $100,005,790Net Income 2024: -$876,8462024Revenue 2025: $142,506,393Expenses 2025: $104,919,323Net Income 2025: $37,587,0702025

Highlighted filing

2025

Revenue$142,506,393
Expenses$104,919,323
Net Income$37,587,070

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$316$84.4$231$143$105$37.6
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$315$93.8$221$99.1$100$0.88
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$304$98.1$206$91.6$91.9$0.32
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$316$105$211$96.9$88.5$8.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$336$117$219$106$82.9$22.8
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$298$120$178$85.2$85.2$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$302$119$183$93.7$87.9$5.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$305$118$187$95.1$84.0$11.1
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$297$120$178$78.6$79.4$0.78
2016Detailed filing. Detailed filing data is available for this year.$293$124$169$80.7$74.8$5.97
2015Detailed filing. Detailed filing data is available for this year.$295$121$174$70.8$67.7$3.04
2014Detailed filing. Detailed filing data is available for this year.$296$122$174$70.1$65.3$4.79
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$274$110$163$61.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$251$120$131$72.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$256$111$146$60.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$242$115$127$59.7
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Apr 15, 2026
Return Version
2024v5.2
Gross Receipts
$290,638,810
Mission and Program Overview

Mission

Woodward academy provides college preparatory education for students in pre-k through grade 12. Woodward intentionally brings together students from diverse backgrounds, perspectives, and experiences, creating a richer learning community and exceptional academic opportunities. Woodward's students and graduates are caring and compassionate global citizens who are a microcosm of what the world should be.

Woodward academy provides college preparatory education for students in pre-k through grade 12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$152,363,096$152,176,027▼ $187,069
Land, Buildings, and Equipment, Net$135,827,228$134,822,419▼ $1,004,809
Savings and Temporary Cash Investments$23,087,853$25,091,190▲ $2,003,337
Pledges and Grants Receivable$713,283$941,704▲ $228,421
Prepaid Expenses and Deferred Charges$640,279$775,773▲ $135,494
Inventories for Sale or Use$141,717$610,914▲ $469,197
Investments Other Securities$566,692$590,807▲ $24,115
Accounts Receivable$818,997$520,407▼ $298,590
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$314,991,489$315,635,252▲ $643,763
Other Assets Total$832,344$106,011▼ $726,333
Liabilities
Tax Exempt Bond Liabilities$65,729,584$57,468,903▼ $8,260,681
Accounts Payable and Accrued Expenses$11,899,907$11,952,567▲ $52,660
Deferred Revenue$11,780,595$10,843,622▼ $936,973
Mortgage Notes Payable Secured by Investment Property$3,487,500$3,037,500▼ $450,000
Other Liabilities$855,830$1,079,716▲ $223,886
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$93,753,416$84,382,308▼ $9,371,108
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$194,911,236$201,829,481▲ $6,918,245
Net Assets With Donor Restrictions$26,326,837$29,423,463▲ $3,096,626
Total Net Assets Fund Balance$221,238,073$231,252,944▲ $10,014,871
Total Liabilities and Net Assets / Fund Balance$314,991,489$315,635,252▲ $643,763

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$104,702,204$95,917,506$187,666,710
Land$26,340,021-$25,021,021
Equipment$2,706,269$18,653,256$21,359,525
Other Land Buildings$1,073,925-$1,073,925

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$26,941,790$714,443▲ $2,830,413$80,883$29,259,664
2023$24,293,908$93,676▲ $3,823,941$79,012$26,941,790
2022$25,419,506$169,996▼ $342,173$70,578$24,293,908
2021$27,348,217$677,915▼ $1,475,619$79,802$25,419,506
2020$21,480,021$472,464▲ $6,744,372$93,121$27,348,217
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr F Stuart GulleyPresident - retired 06/30/25FT$658,642$186,655$845,297
Dr Christopher FreerVice PresidentFT$307,738$83,609$391,347
Nigel TraylorVice PresidentFT$301,620$33,030$334,650
Louise D MannVP of Finance/CFOFT$288,949$32,860$321,809
Nija MeyerVice PresidentFT$259,869$44,547$304,416
Lee ConnerVice PresidentFT$243,715$50,153$293,868
Jonathan MerrillAdministratorFT$218,199$31,678$249,877
Edward RutledgeAdministratorFT$215,528$28,659$244,187
Dana PhillipsAdministratorFT$160,285$56,443$216,728
Dr Jose FernandezAdministratorFT$181,703$26,240$207,943
Elaine CarrollAdministratorFT$166,162$25,352$191,514

Board Members and Trustees

NameTitle
Dr Xavier A DuraldeChairman
Mary S MooreVice Chair
Aditya BhoopathyBoard Member
Belinda MJ MorrisBoard Member
Ben F Johnson IIIBoard Member
Beth H ParadiesBoard Member
C Brad MarshBoard Member
Calvin R Allen JrBoard Member
Dr Russell K GoreBoard Member
Dr Vicki R PalmerBoard Member
Garnet M NygrenBoard Member
Gerald R BenjaminBoard Member
Gregory S LewisBoard Member
James E Sutherland JrBoard Member
Jo Cranford HodgesBoard Member
Justin H AlexanderBoard Member
Kenneth L BlankBoard Member
LaKesha M RobinsonBoard Member
Lauren Z SchlossbergBoard Member
Matthew D WilsonBoard Member
Monica Howard DouglasBoard Member
Riah W GreathouseBoard Member
Ricardo L SimonBoard Member
Rodney S HarrisonBoard Member
Ronald M BrillBoard Member
Ryan T GunnigleBoard Member
S Paul ShailendraBoard Member
Simon E ArpiarianBoard Member
Stephen E RobertsBoard Member
Suzanna Sanchez DoyleBoard Member
William H Gray IVBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Tropic Designs Incturf managementPO Box 1546, Jonesboro, GA 30237-1546$262,830
CIBC Private Wealth Managementinvestment mgmt3290 Northside Parkway NW, Atlanta, GA 30327$254,358
Alston Bird LLPLegal ServicesPO Box 933124, Atlanta, GA 31193-3124$198,206
BDR Partners LLCconsulting1155 Mount Vernon Highway STE 800, Atlanta, GA 30338-5439$140,250
Coxe Curry Associates IncConsulting191 Peachtree St NE STE 4025, Atlanta, GA 30303-1785$122,791
Revenue and Support

Revenue Composition

Contributions and Grants
$5,111,447
Program Service Revenue
$92,127,594
Investment Income
$44,504,637
Other Revenue
$762,715
All Other Contributions
$4,998,487
Change in Net Assets
$37,587,070

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
Other Non Cash Contri Table139$112,960Fair Market Value (FMV)
Securities Publicly Traded11$103,884Market Sales Price
Total Noncash Contributions150$216,844-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$63,332,472
Other Expenses$29,316,691
Grants and Similar Amounts Paid$12,270,160
Total Fundraising Expense$3,115,139
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$42,399,592$3,909,685$1,454,847$47,764,124
Grants to Domestic Individuals$12,221,480--$12,221,480
Other Employee Benefits$6,564,488$558,572$211,137$7,334,197
Depreciation Depletion$5,026,102$48,395$18,192$5,092,689
Occupancy$3,407,199$217,103$19,627$3,643,929
Payroll Taxes$3,207,791$272,951$103,174$3,583,916
Interest$3,230,309--$3,230,309
Current Officers, Directors, Trustees, and Key Employees-$1,928,537$578,157$2,506,694
Pension Plan Contributions$1,918,581$163,252$61,708$2,143,541
Insurance$1,120,418$85,623$20,983$1,227,024
Office Expenses$330,029$870,512-$1,200,541
All Other Expenses$281,597$842,111$76,503$1,200,211
Information Technology$1,001,160$66,350$37,914$1,105,424
Advertising-$381,228$549,819$931,047
Travel$305,113$123,992$42,296$471,401
Other Expenses$432,826$137,777$-59,218$432,826
Fees for Services Legal-$430,341-$430,341
Fees for Service Investment Mgmnt Fees-$254,358-$254,358
Fees for Services Accounting-$74,225-$74,225
Foreign Grants$48,680--$48,680
Total Functional Expenses$91,439,172$10,365,012$3,115,139$104,919,323
International Activity

International Summary

Offices
0
Employees
0
Spending
$4,966,497

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$4,917,817
Sub-Saharan AfricaGrantmaking-0-$48,680
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$115,966
Fundraising Direct Expenses$93,901
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
The Big Chill$228,926$115,966$14,996$100,970
Total Events$228,926$115,966$93,901$22,065
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
Sutherland FoodsSee Supplemental Info.Purchase of FoodNo$2,012,471
Tropic DesignsSee Supplemental Info.Turf ManagementNo$262,564
Jenny ConnerSee Supplemental Info.CompensationNo$74,089

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
Plan 457(b) Liability$462,289
Interest Rate Swaps Liability$328,293
Due to Related Organization$229,016
Asset Retirement Obligation$60,118

Bond Issues

BondIssuerIssuedIssue PricePurpose
ADevelopment Authority of Fulton County2008-06-10$32,000,000Construct/renovate athletics facil
BDevelopment Authority of Fulton County2007-08-23$13,000,000Construct/renovate upper school cl
CDevelopment Authority of Fulton County2006-08-10$11,000,000Construct new primary school campu

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$32,414,132$0$0$193,276
B$13,252,860$0$0$317,731
C$11,262,113$0$0$184,984

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
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
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 11B

The audit committee and the finance and executive committee review and approve the form 990. An electronic copy of the form 990 is sent to all board members.

Part VI, Section B, Line 12C

Each year board members, officers, and key employees complete a conflict of interest questionnaire and certify that they have read and are in compliance with the conflict of interest policy. Board members who have a potential conflict of interest abstain from voting on issues involving the conflict of interest.

Part VI, Section B, Line 15

The avp for human resources researches comparable compensation data and provides the information to the president and the compensation committee. Comparable data from the following groups are used: all member schools of the national association of independent schools (nais), all non-member schools that report to nais, all georgia independent schools, and large independent schools in the united states. Some of the factors considered include the experience of the employee and the size and complexity of the school in relation to the schools in the comparison data. The compensation committee approves and documents the compensation of officers and key employees and all officers and key employees receive annual written contracts.

Part VI, Section C, Line 19

The school's forms 1023, 990, and 990-t are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Woodward Academy Inc
EIN
58-0625584
In Care Of
% LOUISE D MANN
Phone
4047654023
Address
1662 RUGBY AVENUE, COLLEGE PARK, GA 30337-2199

Signing Officer

Name
Louise D Mann
Title
VP of Finance/CFO
Phone
4047654023
Signed
2026-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louise D Mann
Formed
1900
Legal Domicile
Ga
Voting Board Members
31
Independent Board Members
29
Employees
1,002
Volunteers
31

Preparer

Firm
Smith & Howard Advisory LLC
Address
271 17TH STREET NW SUITE 2100, ATLANTA, GA 30363
Preparer
Sabre J Linahan
Phone
4048746244
Supplemental Narrative

Additional Explanations

Part XI, Line 9

Unrealized gain/loss on interest rate swap agreement - $1,055,756 change in value of split interest agreements 405 unrealized gain/loss on csv of life insurance 24,116 unrealized gain/loss on bad debt write-off 25,000 --------------- total other changes in net assets - $1,006,235

Financial Statement Notes

Part II, Line 9

There is no special accounting for the school's conservation easements. Two historical structures are used in the daily operations of the school as offices. The third structure is the ceremonial front gate of the school. The monitoring, inspecting and enforcing of easements is part of the routine housekeeping and maintenance activities of the school's facilities department. The historical character of the structures is maintained when repairs and maintenance are made. There is an endowed fund for the maintenance of one of the buildings. An amount approximate to 4.25% of the market value of the fund is utilized each year to partially offset the costs of maintaining this building.

Part V, Line 4

The school's endowment funds are intended for use in providing financial aid to woodward academy students, awards to outstanding woodward academy students, funds for curriculum enrichment and enhancement in faculty salaries and maintenance of the alumni center. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.

Part X, Line 2

The School is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code ("IRC"). It is management's opinion that unrelated business activities undertaken by the School which could generate unrelated business income tax resulted in a net loss for the years ended May 31, 2025 and 2024 and, accordingly, no provision for federal income taxes has been made. Management has evaluated the effects of the guidance provided by U.S. GAAP on Accounting for Uncertainty in Income Taxes and believes the School continues to satisfy the requirements of a tax-exempt organization at May 31, 2025. Management has evaluated all other tax positions that could have a significant effect on the consolidated financial statements and determined the School had no uncertain income tax positions at May 31, 2025. In the normal course of business, the School is subject to examination by the federal and state taxing authorities. In general, the School is no longer subject to tax examinations for tax years ending before May 31, 2022.

Raw XML AppendixShowing 400 of 1,435 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.

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IRS990/BooksInCareOfDetail/PhoneNum04047654023
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01662 RUGBY AVENUE
IRS990/BooksInCareOfDetail/USAddress/CityNm0COLLEGE PARK
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd0303372119
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt03290 Northside Parkway NW
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IRS990/Desc0Provided college preparatory education for approximately 2,705 students in pre-K through grade 12 at one of the largest independent schools in the continental United States. Woodward creates opportunities for each child to thrive and is the most diverse independent school in Atlanta. Students learn organically from exposure to perspectives different from their own and they are immersed in intentional programs to teach tolerance, respect, and compassion.
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