Civic Intelligence

Lakeside School

990 • Fiscal year 2015 • EIN 91-0564971

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 09, 2015

Refreshing map…

14050 1st Ave NESeattle, WA 98125

(206) 368-3610

Siviq Scores

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

Liabilities / Assets

9th percentile

0.03x

Higher debt load relative to assets than 9% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

15th percentile

0.17x

Higher debt load relative to revenue than 15% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Net Margin

82nd percentile

20%

Higher net margin than 82% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

32nd percentile

$561,630

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Asset Growth

26th percentile

-1.5%

Faster asset growth than 26% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

93rd percentile

34%

Faster revenue growth than 93% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Down

$292,907,029

Down $4,580,225 (-1.5%) from 2014

Net Assets

Down

$284,918,680

Down $4,886,813 (-1.7%) from 2014

Liabilities

Up

$7,988,349

Up $306,588 (+4.0%) from 2014

Revenue

Up

$48,215,224

Up $12,325,790 (+34%) from 2014

Expenses

Up

$38,764,559

Up $1,705,047 (+4.6%) from 2014

Net Income

Up

$9,450,665

Up $10,620,743 (+908%) from 2014

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2011: $255,783,370Liabilities 2011: $5,991,478Net Assets 2011: $249,791,8922011Assets 2012: $248,467,801Liabilities 2012: $6,466,653Net Assets 2012: $242,001,1482012Assets 2013: $272,213,177Liabilities 2013: $8,439,241Net Assets 2013: $263,773,9362013Assets 2014: $297,487,254Liabilities 2014: $7,681,761Net Assets 2014: $289,805,4932014Assets 2015: $292,907,029Liabilities 2015: $7,988,349Net Assets 2015: $284,918,6802015Assets 2016: $279,342,002Liabilities 2016: $6,859,780Net Assets 2016: $272,482,2222016Assets 2017: $305,244,171Liabilities 2017: $6,754,420Net Assets 2017: $298,489,7512017Assets 2018: $319,207,467Liabilities 2018: $7,730,423Net Assets 2018: $311,477,0442018Assets 2019: $330,077,263Liabilities 2019: $8,115,687Net Assets 2019: $321,961,5762019Assets 2020: $324,867,505Liabilities 2020: $7,911,892Net Assets 2020: $316,955,6132020Assets 2021: $426,505,041Liabilities 2021: $34,190,289Net Assets 2021: $392,314,7522021Assets 2022: $394,164,521Liabilities 2022: $35,794,798Net Assets 2022: $358,369,7232022Assets 2023: $445,547,196Liabilities 2023: $38,688,590Net Assets 2023: $406,858,6062023Assets 2024: $496,836,195Liabilities 2024: $41,758,388Net Assets 2024: $455,077,8072024Assets 2025: $590,461,413Liabilities 2025: $48,077,527Net Assets 2025: $542,383,8862025

Highlighted filing

2015

Assets$292,907,029
Liabilities$7,988,349
Net Assets$284,918,680

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2011: $33,528,6662011Revenue 2012: $39,163,093Expenses 2012: $33,768,257Net Income 2012: $5,394,8362012Expenses 2013: $36,056,9392013Revenue 2014: $35,889,434Expenses 2014: $37,059,512Net Income 2014: -$1,170,0782014Revenue 2015: $48,215,224Expenses 2015: $38,764,559Net Income 2015: $9,450,6652015Revenue 2016: $37,190,570Expenses 2016: $40,140,212Net Income 2016: -$2,949,6422016Revenue 2017: $42,259,417Expenses 2017: $40,133,538Net Income 2017: $2,125,8792017Revenue 2018: $47,363,008Expenses 2018: $41,409,542Net Income 2018: $5,953,4662018Revenue 2019: $65,453,071Expenses 2019: $45,293,186Net Income 2019: $20,159,8852019Revenue 2020: $55,354,841Expenses 2020: $46,043,586Net Income 2020: $9,311,2552020Revenue 2021: $55,739,087Expenses 2021: $48,809,319Net Income 2021: $6,929,7682021Revenue 2022: $65,054,128Expenses 2022: $52,217,970Net Income 2022: $12,836,1582022Revenue 2023: $78,894,742Expenses 2023: $54,924,516Net Income 2023: $23,970,2262023Revenue 2024: $77,043,473Expenses 2024: $58,709,894Net Income 2024: $18,333,5792024Revenue 2025: $125,339,252Expenses 2025: $62,665,662Net Income 2025: $62,673,5902025

Highlighted filing

2015

Revenue$48,215,224
Expenses$38,764,559
Net Income$9,450,665
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 9, 2015
Return Version
2014v5.0
Gross Receipts
$60,924,218
Mission and Program Overview

Mission

The mission of lakeside school is to develop in intellectually capable young people the creative minds, healthy bodies, and ethical spirits needed to contribute wisdom, compassion, and leadership to a global society. We provide a rigorous, dynamic academic program through which effective educators lead students to take responsibility for learning. We are committed to sustaining a school in which individuals representing diverse cultures and experiences instruct one another in the meaning and value of community and in the joy and importance of lifelong learning.

To educate students in grades 5-12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$148,668,820$146,772,084▼ $1,896,736
Land, Buildings, and Equipment, Net$59,939,305$59,290,180▼ $649,125
Investments Other Securities$60,353,060$52,890,309▼ $7,462,751
Cash and Non-Interest-Bearing Accounts$10,066,188$13,985,678▲ $3,919,490
Savings and Temporary Cash Investments$10,509,286$12,400,530▲ $1,891,244
Pledges and Grants Receivable$5,856,722$5,277,180▼ $579,542
Prepaid Expenses and Deferred Charges$998,618$1,402,384▲ $403,766
Inventories for Sale or Use$272,229$227,144▼ $45,085
Accounts Receivable$197,935$119,082▼ $78,853
Receivables From Officers Etc$0$50,000▲ $50,000
Total Assets$297,487,254$292,907,029▼ $4,580,225
Other Assets Total$625,091$492,458▼ $132,633
Liabilities
Deferred Revenue$4,006,321$4,323,790▲ $317,469
Accounts Payable and Accrued Expenses$2,570,798$2,604,022▲ $33,224
Escrow Account Liability$903,252$768,514▼ $134,738
Other Liabilities$201,390$292,023▲ $90,633
Total Liabilities$7,681,761$7,988,349▲ $306,588
Net Assets / Fund Balance
Permanently Rstr Net Assets$137,421,555$140,496,411▲ $3,074,856
Unrestricted Net Assets$78,202,277$79,245,253▲ $1,042,976
Temporarily Rstr Net Assets$74,181,661$65,177,016▼ $9,004,645
Total Net Assets Fund Balance$289,805,493$284,918,680▼ $4,886,813
Total Liabilities and Net Assets / Fund Balance$297,487,254$292,907,029▼ $4,580,225

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$53,756,152$14,763,104$68,519,256
Other Land Buildings$2,933,868$3,888,711$6,822,579
Equipment$1,309,920$1,718,967$3,028,887
Land$1,290,240-$1,290,240
Other Securities$12,055,209--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$214,891,644$2,783,668▼ $2,096,288$7,704,716$207,874,278
2013$189,718,945$530,913▲ $33,264,258$7,622,472$215,891,644
2012$178,081,985$941,613▲ $17,583,782$6,888,435$189,718,945
2011$188,604,807$1,023,079▼ $4,906,451$6,639,450$178,081,985
2010$159,138,394$868,104▲ $34,345,132$5,746,823$188,604,807
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bernie NoeHead of SchoolFT$382,221$179,409$561,630
Alexandra CallenDirector Upper SchoolFT$207,152$105,955$313,107
Birage TandonChief Financial OfficerFT$224,425$29,721$254,146
Daiga GalinsDirector of DevelopmentFT$190,439$27,084$217,523
Booth KyleASS'T HEAD/Director ADMISSIONSFT$171,785$30,082$201,867
Elaine ChristensenDirector Middle SchoolFT$174,706$24,908$199,614
Thomas RonaMiddle School Mathematics TeacherFT$130,358$51,382$181,740
Chris HartleyDirector of AthleticsFT$127,205$24,788$151,993
John NewsomDirector of TechnologyFT$131,889$19,612$151,501
Ari WorthmanDirector of College CounselingFT$128,146$17,689$145,835
Bryan J SmithUS Associate DirectorFT$127,636$17,815$145,451

Highest Paid Contractors

ContractorServicesLocationCompensation
Lease Crutcher LewisConstruction107 SPRING STREET, Seattle, WA 98104$2,736,500
Cambridge AssociatesInvestment Advisory Services125 HIGH STREET, Boston, MA 02110$299,415
Northwest Security Services INCSecurity14824 WESTMINISTER WAY N, Seattle, WA 98133$266,746
Anm Facility Services LLCJanitorialPO BOX 6355, Bellevue, WA 98008$176,255
Lmn ArchitectsArchitect801 2ND AVE SUITE 501, Seattle, MA 98104$146,857
Revenue and Support

Revenue Composition

Contributions and Grants
$6,700,002
Program Service Revenue
$27,114,293
Investment Income
$14,185,155
Other Revenue
$215,774
All Other Contributions
$6,700,002
Change in Net Assets
$9,450,665

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded53$3,177,482Fair Market Value
Cars and Other Vehicles2$24,000Fair Market Value
Total Noncash Contributions55$3,201,482-

Audited Revenue Reconciliation

Revenue per Audited Statements
$48,215,224
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-22,799,074
Total Revenue per Audited Statements
$25,416,150
Total Revenue per Form 990
$48,215,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,210,218
Other Expenses$11,165,077
Grants and Similar Amounts Paid$6,389,264
Total Fundraising Expense$745,409
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,678,591$1,866,557$313,592$14,858,740
Grants to Domestic Individuals$6,389,264--$6,389,264
Office Expenses$2,173,399$301,232$54,898$2,529,529
Other Employee Benefits$1,974,667$289,925$65,079$2,329,671
Fees for Service Investment Mgmnt Fees-$2,072,332-$2,072,332
Depreciation Depletion$1,872,187$58,506$19,502$1,950,195
Occupancy$1,572,030$267,822$38,817$1,878,669
Current Officers, Directors, Trustees, and Key Employees$440,806$930,293$213,862$1,584,961
Payroll Taxes$985,621$204,484$840$1,190,945
Travel$837,517$64,682$1,665$903,864
Pension Plan Contributions$737,461$137,361$21,609$896,431
All Other Expenses$301,118$205,925$11,500$518,543
Information Technology$376,562$38,689-$415,251
Comp Disqual Persons$267,530$81,940-$349,470
Fees for Services Other$61,917$259,213$841$321,971
Insurance$251,943$6,861$2,320$261,124
Conferences and Meetings$116,911$14,675$844$132,430
Fees for Services Legal-$73,184-$73,184
Fees for Services Accounting-$53,681-$53,681
Fees for Services Management$21,721$6,578$40$28,339
Advertising$3,847$22,118-$25,965
Total Functional Expenses$31,063,092$6,956,058$745,409$38,764,559

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$38,764,559
Expenses per Audited Statements$30,302,963
Total Expenses per Audited Statements$30,302,963
Expenses Not Reported on Financial Statements$8,461,596
Other Expense Adjustments$6,389,264
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
18
Spending
$20,773,017

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$14,480,411
Europe (including Iceland & Greenland)InvestmentsN/a00$5,876,606
South AmericaProgram ServicesCommunity Service and Cultural Immersion03$94,000
East Asia and the PacificProgram ServicesCommunity Service and Cultural Immersion03$87,000
Central America and the CaribbeanProgram ServicesCommunity Service and Cultural Immersion03$73,000
Middle East and North AfricaProgram ServicesCommunity Service and Cultural Immersion03$62,000
Sub-saharan AfricaProgram ServicesCommunity Service and Cultural Immersion03$55,000
South AsiaProgram ServicesCommunity Service and Cultural Immersion03$45,000
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
James BaileySee Part VSee Part VNo$2,736,500
Colleen KyleSee Part VEmploymentNo$103,095
-See Part VEmploymentNo$89,101
Mary Anne ChristySee Part VEmploymentNo$75,334
Erik ChristensenSee Part VEmploymentNo$56,940

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$0$50,000▲ $50,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Current Liabilities$292,023
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The committee of the board responsible for overseeing the school's assets reviews a public disclosure copy of the form 990 with the external tax preparer and then votes to accept it. Every trustee then receives a public disclosure copy of the return before the filing.

Form 990, Part VI, Section B, Line 12C

All trustees, head of school, chief financial officer, assistant head and director of school admissions, upper school and middle school division directors and director of development fill out and sign a document asserting they have read and understood the policy and disclosing their compliance. A committee of the board reviews the annual written statements. The same committee responds to any indication of non-compliance. Any time there is a conflict of interest, the individual is excused from both the discussion as well as the vote on the issue.

Form 990, Part VI, Section B, Line 15

During 2011, a consultant hired by the board of trustees reviewed the compensation for comparable head of school positions in independent schools nationally and locally. This information is for a 5 year contract beginning july 1, 2012.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Lakeside School
EIN
91-0564971
Phone
2063683610
Address
14050 1ST AVE NE, SEATTLE, WA 98125

Signing Officer

Name
Birage Tandon
Title
Chief Financial Officer
Phone
2063683610
Signed
2015-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bernie Noe
Formed
1923
Legal Domicile
Wa
Voting Board Members
19
Independent Board Members
17
Employees
526
Volunteers
1,350

Preparer

Firm
Clark Nuber Ps
Address
10900 NE 4TH STREET SUITE 1700, BELLEVUE, WA 98004
Preparer
Sara Elizabeth J Hyre
Phone
4254544919
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6:

Volunteers provide support for extracurricular student activities as well as participate in organizing fundraising sales.

Form 990, Part V, Line 3B

Form 990-t will be filed after form 990. Lakeside school is invested in many pass-through investments that generate schedule k-1s. The form 990-t will be prepared once all the k-1s are received.

FORM 990, PART XI, LINE 9:

Change in value of trusts 12,774. Writeoff of prior year pledges -67,100.

Financial Statement Notes

PART IV, LINE 2B:

Lakeside's agency funds represent a variety of accounts that the school maintains for student, alumni, and parent organizations. The funds are generally maintained by the school and the treasurer/administrator of the organization/club deposits and withdraws funds from lakeside as needed.

PART V, LINE 4:

The earnings are designated for the following purposes: financial aid for students, educational programs, employee compensation and professional growth, purchase and/or preservation of fixed assets, and general operations of the school. The amount reported for contributions in the prior year (column c) has been revised to correct an input error on the prior year tax return.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -6,389,264. Change in value of trusts 12,774. Writeoff of prior year pledges -67,100. Investment expenses -2,072,332.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 6,389,264.

Raw XML AppendixShowing 400 of 1,110 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/Desc0LAKESIDE SCHOOL CONTINUES ITS FOCUS ON CORE ELEMENTS OF ITS MISSION: ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION. THE MAJOR ONGOING PROGRAMS AT THE SCHOOL THIS YEAR INCLUDED THE FOLLOWING:- COLLABORATION AMONG TEACHING TEAMS AND EXTENSIVE OPPORTUNITIES FOR FACULTY PROFESSIONAL DEVELOPMENT TO ENHANCE THE CLASSROOM EXPERIENCE FOR EVERY STUDENT. - UNDERTAKING A MAJOR REVIEW OF THE CURRICULUM IN MIDDLE AND UPPER SCHOOLS. THIS IS A THREE YEAR INITIATIVE IN WHICH TEACHERS AND DEPARTMENT HEADS WILL WORK WITH ADMINISTRATORS, PARENTS AND GUARDIANS, AND STUDENTS TO REVIEW WHAT WE ARE TEACHING AND WHY. WITH OVERSIGHT FROM SCHOOL LEADERSHIP, INCLUDING THE BOARD OF TRUSTEES, DEPARTMENTS WILL MAKE CHANGES TO THE CURRICULUM WE DEEM NECESSARY TO CONTINUE TO OFFER OUR STUDENTS A LEADING EDGE EDUCATION FOR THE 21ST CENTURY. - BRINGING MORE ONLINE RESOURCES INTO THE CLASSROOM AND CONTINUING THE FOCUS ON FLIPPED CLASSES.- COMPLETED CONSTRUCTION OF A NEW ATHLETIC CENTER BUILDING. - A RICH ARRAY OF SUMMER ACADEMIC COURSES AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP) SERVING INCOMING 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS PROVIDES GREATER ACCESS TO LAKESIDE'S CAMPUS AND OPPORTUNITIES.- SEEKING TO IMPROVE THE DIVERSITY OF ITS STUDENT BODY AND EMPLOYEES, LAKESIDE NOW HAS 30% OF STUDENTS ON AID, 50% STUDENTS OF COLOR AND 23% EMPLOYEES OF COLOR.
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR MIDDLE SCHOOL
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$590$48.1$542$125$62.7$62.7
2024Summary only. Only limited summary data is available for this year.$497$41.8$455$77.0$58.7$18.3
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$446$38.7$407$78.9$54.9$24.0
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$394$35.8$358$65.1$52.2$12.8
2021Detailed filing. Detailed filing data is available for this year.$427$34.2$392$55.7$48.8$6.93
2020Detailed filing. Detailed filing data is available for this year.$325$7.91$317$55.4$46.0$9.31
2019Summary only. Only limited summary data is available for this year.$330$8.12$322$65.5$45.3$20.2
2018Detailed filing. Detailed filing data is available for this year.$319$7.73$311$47.4$41.4$5.95
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$305$6.75$298$42.3$40.1$2.13
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$279$6.86$272$37.2$40.1$2.95
2015Detailed filing. Detailed filing data is available for this year.$293$7.99$285$48.2$38.8$9.45
2014Detailed filing. Detailed filing data is available for this year.$297$7.68$290$35.9$37.1$1.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$272$8.44$264$36.1
2012Summary only. Only limited summary data is available for this year.$248$6.47$242$39.2$33.8$5.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$256$5.99$250$33.5
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $250M-$1B nonprofits