Civic Intelligence

Friends School Inc

EIN 84-1087693 • 501(c)3 • Boulder, CO

Profile

Friend's school is a supportive, dynamic community committed to educating the whole child head, hand, and heart and to training exceptional teachers for tomorrow's classrooms. We provide a strong academic foundation while developing creative expression and nurturing a passion for learning. Our students gain a deep understanding of themselves and are inspired to act with compassion and integrity.

5465 Pennsylvania AveBoulder, CO 80303

www.friendsschoolboulder.org

Siviq Scores

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

Liabilities / Assets

79th percentile

0.50x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

81st percentile

0.81x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

14th percentile

-17%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

14th percentile

-7.7%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Revenue Growth

29th percentile

-3.1%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Assets

Down

$7,185,897

Down $742,659 (-9.4%) from 2024

Liabilities

Down

$3,579,724

Down $210,800 (-5.6%) from 2024

Net Assets

Down

$3,606,173

Down $531,859 (-13%) from 2024

Revenue

Down

$4,438,086

Down $335,335 (-7.0%) from 2024

Expenses

Down

$5,209,122

Down $151,442 (-2.8%) from 2024

Net Income

Down

-$771,036

Down $183,893 (-31%) from 2024

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $5,451,968Liabilities 2011: $1,131,002Net Assets 2011: $4,320,9662011Assets 2012: $5,569,060Liabilities 2012: $1,180,998Net Assets 2012: $4,388,0622012Assets 2013: $5,727,288Liabilities 2013: $1,138,267Net Assets 2013: $4,589,0212013Assets 2014: $6,152,471Liabilities 2014: $1,302,788Net Assets 2014: $4,849,6832014Assets 2015: $6,221,200Liabilities 2015: $1,328,848Net Assets 2015: $4,892,3522015Assets 2016: $7,993,248Liabilities 2016: $2,857,133Net Assets 2016: $5,136,1152016Assets 2017: $8,622,425Liabilities 2017: $3,592,966Net Assets 2017: $5,029,4592017Assets 2018: $8,609,628Liabilities 2018: $3,757,250Net Assets 2018: $4,852,3782018Assets 2019: $8,160,160Liabilities 2019: $3,371,594Net Assets 2019: $4,788,5662019Assets 2020: $7,445,514Liabilities 2020: $2,867,031Net Assets 2020: $4,578,4832020Assets 2021: $8,733,659Liabilities 2021: $4,124,923Net Assets 2021: $4,608,7362021Assets 2022: $8,810,757Liabilities 2022: $4,124,116Net Assets 2022: $4,686,6412022Assets 2023: $8,440,285Liabilities 2023: $3,981,956Net Assets 2023: $4,458,3292023Assets 2024: $7,928,556Liabilities 2024: $3,790,524Net Assets 2024: $4,138,0322024Assets 2025: $7,185,897Liabilities 2025: $3,579,724Net Assets 2025: $3,606,1732025

Highlighted filing

2025

Assets$7,185,897
Liabilities$3,579,724
Net Assets$3,606,173

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,745,030Expenses 2011: $2,689,215Net Income 2011: $55,8152011Revenue 2012: $2,687,147Expenses 2012: $2,609,628Net Income 2012: $77,5192012Revenue 2013: $2,783,652Expenses 2013: $2,706,841Net Income 2013: $76,8112013Revenue 2014: $2,835,880Expenses 2014: $2,827,522Net Income 2014: $8,3582014Revenue 2015: $3,045,335Expenses 2015: $3,048,016Net Income 2015: -$2,6812015Revenue 2016: $3,506,456Expenses 2016: $3,221,230Net Income 2016: $285,2262016Revenue 2017: $3,462,544Expenses 2017: $3,792,622Net Income 2017: -$330,0782017Revenue 2018: $3,423,444Expenses 2018: $3,730,941Net Income 2018: -$307,4972018Revenue 2019: $3,863,234Expenses 2019: $4,034,656Net Income 2019: -$171,4222019Revenue 2020: $3,774,235Expenses 2020: $4,020,228Net Income 2020: -$245,9932020Revenue 2021: $4,303,947Expenses 2021: $4,565,216Net Income 2021: -$261,2692021Revenue 2022: $5,756,755Expenses 2022: $5,547,950Net Income 2022: $208,8052022Revenue 2023: $4,730,633Expenses 2023: $5,062,996Net Income 2023: -$332,3632023Revenue 2024: $4,773,421Expenses 2024: $5,360,564Net Income 2024: -$587,1432024Revenue 2025: $4,438,086Expenses 2025: $5,209,122Net Income 2025: -$771,0362025

Highlighted filing

2025

Revenue$4,438,086
Expenses$5,209,122
Net Income-$771,036

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.19$3.58$3.61$4.44$5.21$0.77
2024Detailed filing. Detailed filing data is available for this year.$7.93$3.79$4.14$4.77$5.36$0.59
2023Detailed filing. Detailed filing data is available for this year.$8.44$3.98$4.46$4.73$5.06$0.33
2022Detailed filing. Detailed filing data is available for this year.$8.81$4.12$4.69$5.76$5.55$0.21
2021Detailed filing. Detailed filing data is available for this year.$8.73$4.12$4.61$4.30$4.57$0.26
2020Detailed filing. Detailed filing data is available for this year.$7.45$2.87$4.58$3.77$4.02$0.25
2019Detailed filing. Detailed filing data is available for this year.$8.16$3.37$4.79$3.86$4.03$0.17
2018Detailed filing. Detailed filing data is available for this year.$8.61$3.76$4.85$3.42$3.73$0.31
2017Detailed filing. Detailed filing data is available for this year.$8.62$3.59$5.03$3.46$3.79$0.33
2016Detailed filing. Detailed filing data is available for this year.$7.99$2.86$5.14$3.51$3.22$0.29
2015Summary only. Only limited summary data is available for this year.$6.22$1.33$4.89$3.05$3.05$0.00
2014Summary only. Only limited summary data is available for this year.$6.15$1.30$4.85$2.84$2.83$0.01
2013Summary only. Only limited summary data is available for this year.$5.73$1.14$4.59$2.78$2.71$0.08
2012Summary only. Only limited summary data is available for this year.$5.57$1.18$4.39$2.69$2.61$0.08
2011Summary only. Only limited summary data is available for this year.$5.45$1.13$4.32$2.75$2.69$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 22, 2026
Return Version
2024v5.0
Gross Receipts
$4,531,043
Mission and Program Overview

Mission

Friends' school is a supportive, dynamic community committed to educating the whole child head, hand, and heart and to training exceptional teachers for tomorrow's classrooms. We provide a strong academic foundation while developing creative expression and nurturing a passion for learning. Our students gain a deep understanding of themselves and are inspired to act with compassion and integrity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,715,958$3,529,223▼ $186,735
Investments in Publicly Traded Securities$2,221,326$2,334,028▲ $112,702
Savings and Temporary Cash Investments$1,595,841$1,139,911▼ $455,930
Cash and Non-Interest-Bearing Accounts$265,191$146,999▼ $118,192
Pledges and Grants Receivable$41,710--
Prepaid Expenses and Deferred Charges$23,356$28,405▲ $5,049
Accounts Receivable$65,174$7,331▼ $57,843
Total Assets$7,928,556$7,185,897▼ $742,659
Liabilities
Deferred Revenue$1,905,417$1,717,029▼ $188,388
Mortgage Notes Payable Secured by Investment Property$1,599,934$1,548,214▼ $51,720
Accounts Payable and Accrued Expenses$285,173$314,481▲ $29,308
Total Liabilities$3,790,524$3,579,724▼ $210,800
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,326,299$2,382,215▲ $55,916
Net Assets Without Donor Restrictions$1,811,733$1,223,958▼ $587,775
Total Net Assets Fund Balance$4,138,032$3,606,173▼ $531,859
Total Liabilities and Net Assets / Fund Balance$7,928,556$7,185,897▼ $742,659

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,662,625$2,529,292$4,191,917
Land$1,869,931-$1,869,931
Equipment$-3,333$244,768$241,435

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,981,628-▲ $237,420$95,368$2,117,012
2023$1,835,159-▲ $249,321$96,330$1,981,628
2022$1,714,887-▲ $184,318$57,634$1,835,159
2021$2,024,105-▼ $243,095$58,903$1,714,887
2020$1,767,528$26,730▲ $373,054$136,229$2,024,105
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Honor TaftHead of SchoFT$249,039$21,461$270,500
Honor TaftHead of School-$249,039$21,461$270,500
Heidi HalpernDirector ofFT$135,306$17,830$153,136
Heidi HalpernDirector of Finance-$135,306$17,830$153,136
Ivan Fink JohnsonSchool ProgrFT$106,428$13,811$120,239

Board Members and Trustees

NameTitle
Adam SteinTrustee
Andrew StoneTrustee
Dave BoennighausenTrustee
Erin JackmanTrustee
Jarad HassanTrustee
Meredith WilliamsTrustee
Tara LambTrustee
Matt LevinsonInterim Head
Katie LatierSecretary
Matt BuchananTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$566,466
Program Service Revenue
$3,857,774
Investment Income
$444
Other Revenue
$13,402
All Other Contributions
$205,905
Change in Net Assets
$-771,036

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,438,086
Revenue Not Reported on Form 990
$179,141
Total Revenue per Audited Statements
$4,617,227
Total Revenue per Form 990
$4,438,086
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,635,267
Other Expenses$1,573,855
Total Fundraising Expense$110,057
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,907,758$548,051$64,776$2,520,585
Current Officers, Directors, Trustees, and Key Employees$174,283$296,835$25,748$496,866
Payroll Taxes$206,847$75,747$8,740$291,334
Fees for Services Other$238,678$29,500-$268,178
Other Employee Benefits$155,149$74,100$2,316$231,565
Occupancy$206,185$10,852-$217,037
Depreciation Depletion$164,767$12,402-$177,169
All Other Expenses$87,272$63,969$4,272$155,513
Insurance$118,815$7,584-$126,399
Pension Plan Contributions$63,594$30,374$949$94,917
Information Technology$83,266$9,356$936$93,558
Interest-$75,925-$75,925
Other Expenses$63,993$14,267$1,946$63,993
Advertising$49,231--$49,231
Office Expenses$13,822$4,483$374$18,679
Fees for Services Accounting-$17,886-$17,886
Fees for Services Legal-$11,207-$11,207
Travel$1,565$2,348-$3,913
Total Functional Expenses$3,809,446$1,289,619$110,057$5,209,122

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,209,122
Total Expenses per Audited Statements$5,209,122
Total Expenses per Form 990$5,209,122
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$32,921
Fundraising Gross Income$11,213
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$104,842$11,213$32,921$-21,708
Total Events$104,842$11,213$32,921$-21,708
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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 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
No
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, Page 6, Part VI, Line 11B

The form 990 is prepared by an independent cpa and is reviewed by the board of directors for accuracy and completeness before it is filed with the irs.

Form 990, Page 6, Part VI, Line 12C

Officers and directors sign a written conflict of interest statement annually.

Form 990, Page 6, Part VI, Line 15A

The compensation for the head of school is determined by the community board. The board looks at comparable compensation data and documents its decision making in writing.

Form 990, Page 6, Part VI, Line 19

Organizational documents, policies, and financial statements are available to the public, up receipt of written request

Filing and Contact Details

Filer

Filer Name
Friends School Inc
EIN
84-1087693
Phone
3034991999
Address
5465 PENNSYLVANIA AVE, BOULDER, CO 80303

Signing Officer

Name
Matt Levinson
Title
Interim Head of Sch
Phone
3034991999
Signed
2026-01-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Levinson
Formed
1988
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
83
Volunteers
30

Preparer

Firm
Altruic Advisors Cpas
Address
417 FOREST AVENUE, PLYMOUTH, MI 48170
Preparer
Ryan N Hagan CPA
Phone
8882985297
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Friend's school is a supportive, dynamic community committed to educating the whole child head, hand, and heart and to training exceptional teachers for tomorrow's classrooms. We provide a strong academic foundation while developing creative expression and nurturing a passion for learning. Our students gain a deep understanding of themselves and are inspired to act with compassion and integrity.

Form 990, Page 2, Part III, Line 4A

Educational - friends school offers an independent, nonsectarian progressive program for children in preschool through grade eight. We are leaders in social and emotional learning with a focus on mindfulness practices at all levels. Students are challenged through experiential learning, exploration and direct instruction, low student to teacher ratios, and actively involved families. Our preschool offers a warm, loving, play-based approach, setting the foundation for school readiness. In our elementary school we emphasize an experiential and gold standard project-based curriculum, focused on developing academic skills and competencies including: problem solving, critical thinking, and social responsibility. The middle school provides the optimal learning environment where students are challenged academically through our balanced program that ensures high school readiness while inspiring students to stay engaged and make a difference in the world. We also offer after school care, enrichment programs and summer camps. Overall enrollment is approximately 140 students.

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IRS990/ActivityOrMissionDesc0FRIENDS' SCHOOL IS A SUPPORTIVE, DYNAMIC COMMUNITY COMMITTED TO EDUCATING THE WHOLE CHILD HEAD, HAND, AND HEART AND TO TRAINING EXCEPTIONAL TEACHERS FOR TOMORROW'S CLASSROOMS. WE PROVIDE A STRONG ACADEMIC FOUNDATION WHILE DEVELOPING CREATIVE EXPRESSION AND NURTURING A PASSION FOR LEARNING. OUR STUDENTS GAIN A DEEP UNDERSTANDING OF THEMSELVES AND ARE INSPIRED TO ACT WITH COMPASSION AND INTEGRITY.
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IRS990/Desc0EDUCATIONAL - FRIENDS SCHOOL OFFERS AN INDEPENDENT, NONSECTARIAN PROGRESSIVE PROGRAM FOR CHILDREN IN PRESCHOOL THROUGH GRADE EIGHT. WE ARE LEADERS IN SOCIAL AND EMOTIONAL LEARNING WITH A FOCUS ON MINDFULNESS PRACTICES AT ALL LEVELS. STUDENTS ARE CHALLENGED THROUGH EXPERIENTIAL LEARNING, EXPLORATION AND DIRECT INSTRUCTION, LOW STUDENT TO TEACHER RATIOS, AND ACTIVELY INVOLVED FAMILIES. OUR PRESCHOOL OFFERS A WARM, LOVING, PLAY-BASED APPROACH, SETTING THE FOUNDATION FOR SCHOOL READINESS. IN OUR ELEMENTARY SCHOOL WE EMPHASIZE AN EXPERIENTIAL AND GOLD STANDARD PROJECT-BASED CURRICULUM, FOCUSED ON DEVELOPING ACADEMIC SKILLS AND COMPETENCIES INCLUDING: PROBLEM SOLVING, CRITICAL THINKING, AND SOCIAL RESPONSIBILITY. THE MIDDLE SCHOOL PROVIDES THE OPTIMAL LEARNING ENVIRONMENT WHERE STUDENTS ARE CHALLENGED ACADEMICALLY THROUGH OUR BALANCED PROGRAM THAT ENSURES HIGH SCHOOL READINESS WHILE INSPIRING STUDENTS TO STAY ENGAGED AND MAKE A DIFFERENCE IN THE WORLD. WE ALSO OFFER AFTER SCHOOL CARE, ENRICHMENT PROGRAMS AND SUMMER CAMPS. OVERALL ENROLLMENT IS APPROXIMATELY 140 STUDENTS.
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IRS990/MissionDesc0FRIEND'S SCHOOL IS A SUPPORTIVE, DYNAMIC COMMUNITY COMMITTED TO EDUCATING THE WHOLE CHILD HEAD, HAND, AND HEART AND TO TRAINING EXCEPTIONAL TEACHERS FOR TOMORROW'S CLASSROOMS. WE PROVIDE A STRONG ACADEMIC FOUNDATION WHILE DEVELOPING CREATIVE EXPRESSION AND NURTURING A PASSION FOR LEARNING. OUR STUDENTS GAIN A DEEP UNDERSTANDING OF THEMSELVES AND ARE INSPIRED TO ACT WITH COMPASSION AND INTEGRITY.
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IRS990/ProgSrvcAccomActy2Grp/Desc0TEACHER CANDIDATES - FRIENDS SCHOOL OFFERS A UNIQUE TEACHER PREPARATION PROGRAM TO ASPIRING TEACHERS BY PROVIDING THEM WITH PRACTICAL CLASSROOM TEACHING EXPERIENCE AND COURSEWORK THAT ENABLES THEM TO ATTAIN A COLORADO INITIAL TEACHER LICENSE, AS WELL AS A MASTER'S DEGREE IN EDUCATION IN PARTNERSHIP WITH THE UNIVERSITY OF COLORADO DENVER. THIS HIGHLY REGARDED EDUCATION PROGRAM PLACES TEACHERS IN PUBLIC AND INDEPENDENT SCHOOLS THROUGHOUT BOULDER COUNTY AND SURROUNDING COUNTIES. WE LAUNCH APPROXIMATELY 16-24 TEACHER CANDIDATES EACH YEAR.
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