Civic Intelligence

Lakeside School

990 • Fiscal year 2018 • EIN 91-0564971

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

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

0.02x

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

16th percentile

0.16x

Higher debt load relative to revenue than 16% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

71st percentile

13%

Higher net margin than 71% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

88th percentile

$629,775

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2018 filings • $250M-$1B nonprofits • Source year 2018

Asset Growth

57th percentile

4.6%

Faster asset growth than 57% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

75th percentile

12%

Faster revenue growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$319,207,467

Up $13,963,296 (+4.6%) from 2017

Net Assets

Up

$311,477,044

Up $12,987,293 (+4.4%) from 2017

Liabilities

Up

$7,730,423

Up $976,003 (+14%) from 2017

Revenue

Up

$47,363,008

Up $5,103,591 (+12%) from 2017

Expenses

Up

$41,409,542

Up $1,276,004 (+3.2%) from 2017

Net Income

Up

$5,953,466

Up $3,827,587 (+180%) from 2017

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

2018

Assets$319,207,467
Liabilities$7,730,423
Net Assets$311,477,044

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

2018

Revenue$47,363,008
Expenses$41,409,542
Net Income$5,953,466
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$85,736,895
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 Other Securities$158,865,321$153,877,540▼ $4,987,781
Investments in Publicly Traded Securities$61,537,406$72,251,067▲ $10,713,661
Land, Buildings, and Equipment, Net$58,619,391$60,800,572▲ $2,181,181
Cash and Non-Interest-Bearing Accounts$10,191,274$14,764,338▲ $4,573,064
Savings and Temporary Cash Investments$9,505,491$12,505,743▲ $3,000,252
Pledges and Grants Receivable$4,642,914$3,105,811▼ $1,537,103
Prepaid Expenses and Deferred Charges$1,363,585$1,316,418▼ $47,167
Accounts Receivable$144,927$212,574▲ $67,647
Inventories for Sale or Use$69,158$72,321▲ $3,163
Other Notes and Loans Receivable, Net$13,820$26,279▲ $12,459
Total Assets$305,244,171$319,207,467▲ $13,963,296
Other Assets Total$290,884$274,804▼ $16,080
Liabilities
Accounts Payable and Accrued Expenses$2,631,560$3,318,964▲ $687,404
Deferred Revenue$2,926,858$2,996,335▲ $69,477
Escrow Account Liability$1,029,704$887,396▼ $142,308
Other Liabilities$166,298$527,728▲ $361,430
Total Liabilities$6,754,420$7,730,423▲ $976,003
Net Assets / Fund Balance
Permanently Rstr Net Assets$142,726,250$143,444,691▲ $718,441
Unrestricted Net Assets$86,714,129$92,506,523▲ $5,792,394
Temporarily Rstr Net Assets$69,049,372$75,525,830▲ $6,476,458
Total Net Assets Fund Balance$298,489,751$311,477,044▲ $12,987,293
Total Liabilities and Net Assets / Fund Balance$305,244,171$319,207,467▲ $13,963,296

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$51,081,989$18,777,970$69,859,959
Other Land Buildings$5,785,268$4,800,208$10,585,476
Equipment$1,815,075$2,336,265$4,151,340
Land$2,118,240-$2,118,240
Other Securities$152,344,199--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$213,709,387$797,396▲ $16,168,833$8,107,426$222,568,190
2016$193,521,555$1,033,439▲ $27,204,007$8,049,614$213,709,387
2015$207,874,278$1,278,804▼ $7,717,720$7,913,807$193,521,555
2014$214,891,644$2,783,668▼ $2,096,288$7,704,746$207,874,278
2013$189,718,945$530,913▲ $32,264,258$7,622,472$214,891,644
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bernie NoeHead of SchoolFT$440,921$188,854$629,775
Booth KyleAssociate Head/Director AdmissionsFT$196,591$80,435$277,026
Birage TandonChief Financial OfficerFT$245,264$31,553$276,817
Daiga GalinsDirector of DevelopmentFT$194,404$33,292$227,696
Elaine ChristensenDirector Middle SchoolFT$181,028$31,208$212,236
Thomas RonaMath Teacher and Department HeadFT$164,696$24,206$188,902
Christopher HartleyDirector of AthleticsFT$145,994$23,462$169,456
Ari WorthmanDirector of College CounselingFT$145,465$22,843$168,308
Alexandra CallenFormer Director Upper SchoolFT$99,407$60,643$160,050
Felicia WilksDirector Upper SchoolFT$93,314$59,595$152,909

Highest Paid Contractors

ContractorServicesLocationCompensation
The Miller Hull Partnership LLPArchitect71 COLUMBIA ST SUITE 600, Seattle, WA 98104$337,401
Kirtley-cole Associates LLCConstruction2820 OAKES AVENUE SUITE B, Everett, WA 98201$297,961
Northwest Security Services INCSecurity14824 WESTMINSTER WAY N, Seattle, WA 98133$260,947
Anm Facility Services LLCJanitorialPO BOX 6355, Bellevue, WA 98008$239,379
Cambridge AssociatesInvestment Advisory125 HIGH STREET, Boston, MA 02110$214,000
Revenue and Support

Revenue Composition

Contributions and Grants
$5,262,962
Program Service Revenue
$30,909,258
Investment Income
$10,886,576
Other Revenue
$304,212
All Other Contributions
$5,128,499
Change in Net Assets
$5,953,466

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 Traded41$1,276,946Fair Market Value
Total Noncash Contributions41$1,276,946-

Audited Revenue Reconciliation

Revenue per Audited Statements
$46,650,675
Revenue Not Reported on Financial Statements
$712,333
Revenue Not Reported on Form 990
$-86,002
Other Revenue Adjustments
$-620,655
Total Revenue per Audited Statements
$46,564,673
Total Revenue per Form 990
$47,363,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$23,462,089
Other Expenses$10,827,624
Grants and Similar Amounts Paid$7,119,829
Total Fundraising Expense$847,461
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,706,446$1,776,651$352,232$15,835,329
Grants to Domestic Individuals$7,119,829--$7,119,829
Other Employee Benefits$2,456,509$503,169$60,332$3,020,010
Office Expenses$2,119,515$310,354$58,350$2,488,219
Depreciation Depletion$1,989,610$62,175$20,725$2,072,510
Current Officers, Directors, Trustees, and Key Employees$525,195$1,183,619$227,696$1,936,510
Occupancy$1,422,535$50,817$13,504$1,486,856
Payroll Taxes$1,102,212$223,083$41,366$1,366,661
Fees for Service Investment Mgmnt Fees-$1,332,989-$1,332,989
Travel$1,083,738$67,215$1,357$1,152,310
Pension Plan Contributions$831,296$170,932$24,016$1,026,244
Fees for Services Other$168,055$219,697$28,432$416,184
Information Technology$303,325$75,559$1,375$380,259
Comp Disqual Persons$277,335--$277,335
Insurance$248,492$7,033$2,344$257,869
Fees for Services Accounting-$83,774-$83,774
Conferences and Meetings$55,735$19,189$664$75,588
Fees for Services Legal$848$56,916-$57,764
Other Expenses$40,556$12,078$15,023$52,634
All Other Expenses$33,504$4,311-$37,815
Advertising$6,592$12,350$45$18,987
Total Functional Expenses$33,686,736$6,875,345$847,461$41,409,542

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$41,409,542
Total Expenses per Audited Statements$33,577,380
Expenses per Audited Statements$32,956,725
Expenses Not Reported on Financial Statements$8,452,817
Other Expense Adjustments$7,119,829
Expenses Not Reported on Form 990$620,655
International Activity

International Summary

Offices
0
Employees
0
Spending
$24,597,043

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
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$16,935,095
Europe (including Iceland & Greenland)InvestmentsN/a00$7,099,160
Central America and the CaribbeanProgram ServicesCommunity Service and Cultural Immersion00$184,215
East Asia and the PacificProgram ServicesCommunity Service and Cultural Immersion00$171,330
South AmericaProgram ServicesCommunity Service and Cultural Immersion00$111,300
Sub-saharan AfricaProgram ServicesCommunity Service and Cultural Immersion00$95,943
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
Erik ChristensenSee Part VEmploymentNo$100,630
Mary Anne ChristySee Part VEmploymentNo$93,090
Colleen KyleSee Part VEmploymentNo$83,615
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Current Liabilities$527,728
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 11B

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.

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

All trustees, head of school, chief financial officer, associate head and director of 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 the vote on the issue.

Form 990, Part VI, Section B, Line 15

The head of school signed a new five year contract beginning july 1, 2015. Base pay for this contract was benchmarked against ten nais (national association of independent schools) peer schools at the 67th percentile.

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
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bernie Noe
Formed
1923
Legal Domicile
Wa
Voting Board Members
20
Independent Board Members
19
Employees
516
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 parents and guardians association (pga) activities.

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 52,791.

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.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -7,119,829. Change in value of trusts 52,791.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets -620,655.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 620,655.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 7,119,829.

Raw XML AppendixShowing 400 of 1,120 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 OF ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION TO PROVIDE A LEADING-EDGE EDUCATION FOR THE 21ST CENTURY. IN ADDITION TO ITS SCHOOL YEAR INSTRUCTION, IT OFFERS A RICH ARRAY OF SUMMER ACADEMIC COURSES AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP), WHICH SERVES INCOMING 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS TO PROVIDE GREATER ACCESS TO LAKESIDE'S CAMPUS AND OPPORTUNITIES. THE SCHOOL HAS INCREASED DIVERSITY OF ITS STUDENT BODY AND EMPLOYEES. LAKESIDE NOW HAS 32% OF STUDENTS ON AID; 57% STUDENT OF COLOR; AND 29% EMPLOYEES OF COLOR. THE SCHOOL IS ALSO COMPLETING A PERFORMING ARTS INITIATIVE, WHICH IS FOCUSED ON BOTH FACILITIES AND PROGRAM ENHANCEMENTS IN THE AREAS OF MUSIC, DRAMA AND CHOIR.
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IRS990/Form990PartVIISectionAGrp/TitleTxt25FORMER DIRECTOR UPPER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR UPPER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt27MATH TEACHER AND DEPARTMENT HEAD
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF COLLEGE COUNSELING
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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