Civic Intelligence

Lakeside School

990 • Fiscal year 2023 • EIN 91-0564971

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 07, 2023

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

23rd percentile

0.09x

Higher debt load relative to assets than 23% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

47th percentile

0.49x

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

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

90th percentile

30%

Higher net margin than 90% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

23rd percentile

$446,462

Higher top officer pay than 23% of similar nonprofits.

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

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

79th percentile

13%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

21%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Up

$445,547,196

Up $51,382,675 (+13%) from 2022

Net Assets

Up

$406,858,606

Up $48,488,883 (+14%) from 2022

Liabilities

Up

$38,688,590

Up $2,893,792 (+8.1%) from 2022

Revenue

Up

$78,894,742

Up $13,840,614 (+21%) from 2022

Expenses

Up

$54,924,516

Up $2,706,546 (+5.2%) from 2022

Net Income

Up

$23,970,226

Up $11,134,068 (+87%) from 2022

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

2023

Assets$445,547,196
Liabilities$38,688,590
Net Assets$406,858,606

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

2023

Revenue$78,894,742
Expenses$54,924,516
Net Income$23,970,226
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$111,500,062
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$178,923,077$192,979,276▲ $14,056,199
Investments in Publicly Traded Securities$112,773,397$143,746,545▲ $30,973,148
Land, Buildings, and Equipment, Net$58,529,118$58,949,622▲ $420,504
Accounts Receivable$26,353,127$27,722,384▲ $1,369,257
Pledges and Grants Receivable$2,730,183$11,567,641▲ $8,837,458
Savings and Temporary Cash Investments$6,057,848$5,345,518▼ $712,330
Prepaid Expenses and Deferred Charges$1,884,443$2,035,878▲ $151,435
Cash and Non-Interest-Bearing Accounts$6,680,115$1,562,150▼ $5,117,965
Inventories for Sale or Use$34,793$44,100▲ $9,307
Total Assets$394,164,521$445,547,196▲ $51,382,675
Other Assets Total$198,420$1,594,082▲ $1,395,662
Liabilities
Deferred Revenue$30,080,712$31,582,014▲ $1,501,302
Accounts Payable and Accrued Expenses$4,191,825$4,236,258▲ $44,433
Other Liabilities$259,284$1,628,005▲ $1,368,721
Escrow Account Liability$1,262,977$1,242,313▼ $20,664
Total Liabilities$35,794,798$38,688,590▲ $2,893,792
Net Assets / Fund Balance
Net Assets With Donor Restrictions$244,757,361$273,177,127▲ $28,419,766
Net Assets Without Donor Restrictions$113,612,362$133,681,479▲ $20,069,117
Total Net Assets Fund Balance$358,369,723$406,858,606▲ $48,488,883
Total Liabilities and Net Assets / Fund Balance$394,164,521$445,547,196▲ $51,382,675

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$48,888,537$25,957,784$74,846,321
Other Land Buildings$2,845,211$4,246,900$7,092,111
Equipment$3,439,686$3,337,962$6,777,648
Land$2,890,168-$2,890,168
Leasehold Improvements$886,020$801,494$1,687,514
Other Securities$1,520,590--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$248,963,672$1,279,914▲ $23,158,414$9,288,403$264,113,597
2021$280,694,888$2,332,710▼ $25,581,816$8,482,110$248,963,672
2020$214,462,398$1,759,684▲ $71,980,513$7,507,707$280,694,888
2019$223,288,275$1,052,066▼ $1,442,065$8,435,878$214,462,398
2018$222,568,190$1,579,397▲ $7,551,286$8,410,598$223,288,275
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bernie NoeHead of School (thru 6/22)FT$278,316$168,146$446,462
Kai BynumHead of SchoolFT$325,000$107,307$432,307
Birage TandonAsst Head of School/CFOFT$333,615$34,742$368,357
Daiga GalinsDirector of DevelopmentFT$222,521$57,543$280,064
Sue BelcherHead of Downtown SchoolFT$178,287$74,146$252,433
Bryan SmithDirector of Experiential EducationFT$156,689$72,059$228,748
Wellesley WilsonDirector of AdmissionsFT$183,645$39,187$222,832
Reem Abu RahmehMiddle School DirectorFT$186,345$27,590$213,935
James BrittoDirector of TechnologyFT$173,040$34,698$207,738
Christopher HartleyDirector of AthleticsFT$173,442$28,825$202,267
Ari WorthmanDirector of College CounselingFT$171,056$25,461$196,517
Ryan BoccuzziUpper School DirectorFT$108,393$58,914$167,307
Felicia WilksAsst Head of School (thru 6/22)FT$121,068$44,505$165,573

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Fieldturf USA INCTurf Field Installation660 PRICE AVE SUITE C, Redwood, CA 94063, Ca$727,267
Knowing Technologies LLCTechnology Services4242 22ND AVE W, Seattle, WA 98199$546,130
Fidalab LLCCovid Lab Services1555 N RIVERCENTER DR STE 300, Milwaukee, WI 53212$396,536
US BankInvestment ManagementPO BOX 34006, Seattle, WA 98124$345,151
US Foods INCFood Services-$344,741
Revenue and Support

Revenue Composition

Contributions and Grants
$34,262,241
Program Service Revenue
$40,779,179
Investment Income
$3,263,037
Other Revenue
$590,285
All Other Contributions
$34,262,241
Change in Net Assets
$23,970,226

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 Traded50$1,051,542Fair Market Value
Total Noncash Contributions50$1,051,542-

Audited Revenue Reconciliation

Revenue per Audited Statements
$77,018,146
Revenue Not Reported on Financial Statements
$1,876,596
Revenue Not Reported on Form 990
$14,870,141
Total Revenue per Audited Statements
$91,888,287
Total Revenue per Form 990
$78,894,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$31,510,758
Other Expenses$13,765,242
Grants and Similar Amounts Paid$9,648,516
Total Fundraising Expense$1,114,229
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,681,403$2,771,367$542,014$22,994,784
Grants to Domestic Individuals$9,648,516--$9,648,516
Other Employee Benefits$2,599,339$574,000$60,358$3,233,697
Office Expenses$2,575,475$304,097$65,731$2,945,303
Occupancy$2,477,076$103,440$23,784$2,604,300
Depreciation Depletion$2,416,892$75,527$25,176$2,517,595
Current Officers, Directors, Trustees, and Key Employees$468,566$1,499,982$275,405$2,243,953
Fees for Service Investment Mgmnt Fees-$1,876,596-$1,876,596
Payroll Taxes$1,409,946$253,178$55,932$1,719,056
Pension Plan Contributions$1,120,261$163,372$35,102$1,318,735
Fees for Services Other$319,883$436,905$15,231$772,019
Travel$731,903$33,563$1,108$766,574
Information Technology$578,391$118,755$34$697,180
Insurance$253,653$181,548$1,941$437,142
Conferences and Meetings$322,729$40,628$72$363,429
Fees for Services Legal-$100,508-$100,508
Fees for Services Accounting-$62,203-$62,203
All Other Expenses$6,839$29,433-$36,272
Advertising$4,653$26,301-$30,954
Other Expenses$35,138$2,270$12,341$2,270
Comp Disqual Persons$533--$533
Total Functional Expenses$44,919,131$8,891,156$1,114,229$54,924,516

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$54,924,516
Expenses per Audited Statements$43,399,404
Total Expenses per Audited Statements$43,399,404
Expenses Not Reported on Financial Statements$11,525,112
Other Expense Adjustments$9,648,516
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$45,796,599

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
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$35,060,476
Europe (including Iceland & Greenland)InvestmentsN/a00$10,415,907
North AmericaProgram ServicesCommunity Service and Cultural Immersion00$201,443
East Asia and the PacificProgram ServicesCommunity Service and Cultural Immersion00$118,773
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$1,628,005
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
Yes
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 A, Line 4

Honorary trustees may no longer be elected and only those elceted before june 30, 2018 may continue to serve until completion of their term. The bylaws have been updated to include the new position of trustee emeritus. This is a nonvoting position.

Form 990, Part VI, Section B, Line 11B

The assets management committee of the board is responsible for overseeing the school's finances. This committee reviews a public disclosure copy of the form 990 with the external tax preparer and then votes to accept it each year.

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

All trustees, officers and key employees complete and sign a document asserting they have read and understood the policy, disclosing conflicts, if any, and confirming their compliance with the policy. A committee of the board reviews the annual written statements. The same committee responds to any indication of non-compliance. If time there is conflict of interest, the individual is excused from voting on the issue.

Form 990, Part VI, Section B, Line 15

The current head of school was appointed on a 5-year contract beginning july 5, 2022. Compensation includes annual base pay, annual bonus, signing bonus that vests over the term of the contract, and other benefits based on national and global compensation benchmarking done by the executive search firm, spencer stuart. Compensation for officers and key employees is benchmarked against national peer schools using the annually available national association of independent schools (nais) data analysis for school leadership (dasl) survey.

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
Asst Head of School/CFO
Phone
2063683610
Signed
2023-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kai Bynum
Formed
1923
Legal Domicile
Wa
Voting Board Members
18
Independent Board Members
18
Employees
506
Volunteers
200

Preparer

Firm
Clark Nuber Ps
Address
10900 NE 4TH STREET SUITE 1400, BELLEVUE, WA 98004
Preparer
Sarah B Huang
Phone
4254544919
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6:

Volunteers provide support across many areas of the school, such as the volunteer board of trustees, fundraising committees, extracurricular student activities, parents and guardians association (pga) activities, and more. For the 2022/2023 calendar year we had approximately 200 volunteers who included school board members, committee chairs, leadership roles, and roar auction volunteers.

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 -174,428.

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 -9,648,516. Change in value of trusts -174,428.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 9,648,516.

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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 THE CORE ELEMENTS OF ITS MISSION: ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION, TO PROVIDE A WORLD CLASS EDUCATION FOR THE 21ST CENTURY. IN ADDITION TO ITS COMPREHENSIVE SCHOOL-YEAR PROGRAM, THE SCHOOL OFFERS A RICH ARRAY OF SUMMER ACADEMIC COURSES AND STEM AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP), WHICH SERVES RISING 6TH AND 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS BY PROVIDING GREATER ACCESS TO LAKESIDE'S CAMPUS AND OPPORTUNITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4HEAD OF DOWNTOWN SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR OF EXPERIENTIAL EDUCATION
IRS990/Form990PartVIISectionAGrp/TitleTxt7MIDDLE SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR OF TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR OF COLLEGE COUNSELING
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IRS990/Form990PartVIISectionAGrp/TitleTxt12UPPER SCHOOL DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
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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
2023Detailed filing. Detailed filing data is available for this year.$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. 2023 filings • 501(c)3 • $250M-$1B nonprofits

New York, NY

View Organization

Breakthrough T1 D

501(c)3

Revenue$223,798,085
Assets$446,188,087

Revenue vs current organization

184% higher

Assets vs current organization

About the same