Civic Intelligence

Lakeside School

990 • Fiscal year 2025 • EIN 91-0564971

Jul 01, 2024 to Jun 30, 2025 • Filed on Nov 14, 2025

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

29th percentile

0.08x

Higher debt load relative to assets than 29% of similar nonprofits.

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

Liabilities / Revenue

43rd percentile

0.38x

Higher debt load relative to revenue than 43% of similar nonprofits.

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

Net Margin

91st percentile

50%

Higher net margin than 91% of similar nonprofits.

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

Top Officer Pay

75th percentile

$896,284

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

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

Asset Growth

88th percentile

19%

Faster asset growth than 88% of similar nonprofits.

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

Revenue Growth

90th percentile

63%

Faster revenue growth than 90% of similar nonprofits.

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

Assets

Up

$590,461,413

Up $93,625,218 (+19%) from 2024

Net Assets

Up

$542,383,886

Up $87,306,079 (+19%) from 2024

Liabilities

Up

$48,077,527

Up $6,319,139 (+15%) from 2024

Revenue

Up

$125,339,252

Up $48,295,779 (+63%) from 2024

Expenses

Up

$62,665,662

Up $3,955,768 (+6.7%) from 2024

Net Income

Up

$62,673,590

Up $44,340,011 (+242%) from 2024

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

2025

Assets$590,461,413
Liabilities$48,077,527
Net Assets$542,383,886

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

2025

Revenue$125,339,252
Expenses$62,665,662
Net Income$62,673,590
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$214,888,552
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$187,591,418$179,770,678▼ $7,820,740
Investments in Publicly Traded Securities$131,729,453$167,498,108▲ $35,768,655
Savings and Temporary Cash Investments$75,630,124$113,424,212▲ $37,794,088
Land, Buildings, and Equipment, Net$61,062,461$88,507,557▲ $27,445,096
Accounts Receivable$30,841,964$32,592,608▲ $1,750,644
Cash and Non-Interest-Bearing Accounts$2,891,297$2,978,171▲ $86,874
Pledges and Grants Receivable$3,180,538$2,302,598▼ $877,940
Prepaid Expenses and Deferred Charges$2,364,541$2,074,178▼ $290,363
Inventories for Sale or Use$110,033$187,180▲ $77,147
Total Assets$496,836,195$590,461,413▲ $93,625,218
Other Assets Total$1,434,366$1,126,123▼ $308,243
Liabilities
Deferred Revenue$35,188,209$37,320,731▲ $2,132,522
Accounts Payable and Accrued Expenses$4,979,703$9,477,064▲ $4,497,361
Other Liabilities$1,416,314$1,065,162▼ $351,152
Escrow Account Liability$174,162$214,570▲ $40,408
Total Liabilities$41,758,388$48,077,527▲ $6,319,139
Net Assets / Fund Balance
Net Assets With Donor Restrictions$312,924,213$366,585,925▲ $53,661,712
Net Assets Without Donor Restrictions$142,153,594$175,797,961▲ $33,644,367
Total Net Assets Fund Balance$455,077,807$542,383,886▲ $87,306,079
Total Liabilities and Net Assets / Fund Balance$496,836,195$590,461,413▲ $93,625,218

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$46,319,786$28,907,956$75,227,742
Other Land Buildings$34,877,456$4,823,826$39,701,282
Equipment$3,880,512$3,554,345$7,434,857
Land$2,890,168-$2,890,168
Leasehold Improvements$539,635$1,147,879$1,687,514
Other Securities$1,691,770--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$288,912,861$871,050▲ $32,574,545$10,690,733$311,667,723
2023$264,113,597$879,262▲ $34,061,185$10,141,183$288,912,861
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kai BynumHead of SchoolFT$682,500$213,784$896,284
Birage TandonAssoc. Head of School/CFOFT$434,750$98,923$533,673
Sue BelcherHead of Downtown SchoolFT$197,098$151,068$348,166
Ryan BoccuzziUpper School DirectorFT$248,755$79,723$328,478
Daiga GalinsDirector of DevelopmentFT$248,968$45,361$294,329
Reem Abu RahmehMiddle School DirectorFT$223,749$27,418$251,167
Bryan SmithDirector of Experiential EducationFT$176,097$63,251$239,348
Wellesley WilsonDirector of AdmissionsFT$211,443$26,600$238,043
Jamie BrittoDirector of TechnologyFT$192,050$35,015$227,065
Jamie AsakaDirector of Student SupportFT$177,476$44,163$221,639
Ari WorthmanDirector of College CounselingFT$190,430$25,025$215,455

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Bnbuilders INCConstruction Services2815 ELLIOTT AVENUE, Seattle, WA 98121$4,602,205
Lmn Architects LLPArchitectural Services801 2ND AVENUE SUITE 501, Seattle, WA 98104$2,885,196
Knowing Technologies LLCTechnology Services660 PRICE AVE STE C, Redwood City, CA 94063$726,471
Seneca GroupBuilding Project Management Services1191 2ND AVE UNIT 1500, Seattle, WA 98101$386,044
Sage Dining Services INCFood Services18 BEAUMONT AVE, Wallingford, CT 06492$369,147
Revenue and Support

Revenue Composition

Contributions and Grants
$65,276,017
Program Service Revenue
$45,337,873
Investment Income
$14,235,345
Other Revenue
$490,017
All Other Contributions
$65,020,934
Change in Net Assets
$62,673,590

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 Traded40$54,237,241Fair Market Value
Other Non Cash Contri Table292$111,098Fair Market Value
Total Noncash Contributions332$54,348,339-

Audited Revenue Reconciliation

Revenue per Audited Statements
$123,836,365
Revenue Not Reported on Financial Statements
$1,502,887
Revenue Not Reported on Form 990
$14,132,348
Other Revenue Adjustments
$-405,063
Total Revenue per Audited Statements
$137,968,713
Total Revenue per Form 990
$125,339,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,714,465
Other Expenses$16,421,056
Grants and Similar Amounts Paid$10,500,141
Total Fundraising Expense$1,643,219
Professional Fundraising Fees$30,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$22,333,192$2,928,568$820,202$26,081,962
Grants to Domestic Individuals$10,500,141--$10,500,141
Other Employee Benefits$2,855,481$457,436$95,375$3,408,292
Occupancy$3,042,524$210,027$117,612$3,370,163
Current Officers, Directors, Trustees, and Key Employees$628,453$1,774,128$374,369$2,776,950
Depreciation Depletion$2,558,434$79,951$26,650$2,665,035
Fees for Services Other$1,983,943$627,542-$2,611,485
Office Expenses$1,943,736$336,091$5,000$2,284,827
Payroll Taxes$1,640,295$231,307$82,600$1,954,202
Fees for Service Investment Mgmnt Fees-$1,907,950-$1,907,950
Pension Plan Contributions$1,277,651$157,319$58,089$1,493,059
Travel$1,283,823$33,628$1,515$1,318,966
Information Technology$694,628$174,422$16,273$885,323
Insurance$291,626$94,122$2,689$388,437
Conferences and Meetings$271,680$34,781$1,107$307,568
Fees for Services Legal$3,861$78,191$40$82,092
Fees for Services Accounting-$66,468-$66,468
Advertising$3,925$45,256-$49,181
Fees for Services Professional Fundraising--$30,000$30,000
All Other Expenses$6,612$1,577-$8,189
Other Expenses$48,937$4,002$1,483$5,485
Total Functional Expenses$51,614,586$9,407,857$1,643,219$62,665,662

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$62,665,662
Total Expenses per Audited Statements$50,662,634
Expenses per Audited Statements$50,257,571
Expenses Not Reported on Financial Statements$12,408,091
Other Expense Adjustments$10,500,141
Expenses Not Reported on Form 990$405,063
International Activity

International Summary

Offices
0
Employees
0
Spending
$66,517,187

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
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$49,577,315
Europe (including Iceland & Greenland)InvestmentsN/a00$15,390,141
North AmericaInvestmentsN/a00$612,007
East Asia and the PacificProgram ServicesCommunity Service and Cultural Immersion00$348,055
Sub-saharan AfricaProgram ServicesCommunity Service and Cultural Immersion00$257,008
South AmericaProgram ServicesCommunity Service and Cultural Immersion00$130,208
South AsiaProgram ServicesCommunity Service and Cultural Immersion00$111,529
Central America and the CaribbeanProgram ServicesCommunity Service and Cultural Academic Immersion00$90,924
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$250,835
Fundraising Gross Income$204,698
Professional Fundraising Fees$30,000
Gaming Gross Income$23,925
Gaming Direct Expenses$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Roar Auction$459,781$204,698$128,761$75,937
Total Events$459,781$204,698$250,835$-46,137
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$1,065,162
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
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 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 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 and require prior approval to be shared.

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
Associate Head of School/CFO
Phone
2063683610
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kai Bynum
Formed
1923
Legal Domicile
Wa
Voting Board Members
20
Independent Board Members
19
Employees
559
Volunteers
220

Preparer

Firm
Clark Nuber Ps
Address
555 110TH AVE NE SUITE 700, 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 2024-2025 fiscal year we had approximately 220 volunteers, who included school board members, pga board members, committee chairs, leadership roles, roar auction volunteers, etc.

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 81,076.

Financial Statement Notes

PART IV, LINE 2B:

Lakeside's agency funds represent a variety of accounts that the school maintains for student groups and programs. 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 capital assets, and general operations of the school.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -10,500,141. Change in value of trusts 81,076.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Special event expenses -139,737. Current year pledge write-off -265,326.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 139,737. Current year pledge write-off 265,326.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 10,500,141.

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IRS990/Desc0LAKESIDE SCHOOL CONTINUES ITS FOCUS ON THE CORE ELEMENTS OF ITS MISSION THROUGH THE THREE AREAS OF ITS STRATEGIC PLAN: EDUCATIONAL EXCELLENCE; COMMUNITY EXPERIENCE, ENGAGEMENT, AND IMPACT; AND INFRASTRUCTURE, OPERATIONS, AND CAPACITY. THE SCHOOL'S COMPREHENSIVE MIDDLE AND UPPER SCHOOL PROGRAM INCLUDES EXCELLENT ACADEMICS, ATHLETICS, EXPERIENTIAL EDUCATION, AND VISUAL AND PERFORMING ARTS. THE FINANCIAL AID PROGRAM PROVIDES TUITION- AND NON-TUITION FINANCIAL AID TO APPROXIMATELY A THIRD OF THE STUDENT POPULATION. THE FOOD SERVICE PROGRAM OFFERS MEALS AND SNACKS TO ALL STUDENTS AND EMPLOYEES. IN ADDITION TO THE SCHOOL-YEAR PROGRAM, THE SCHOOL OFFERS A RICH ARRAY OF SUMMER PROGRAMMING TO SCHOOL AGE CHILDREN, INCLUDING ACADEMIC COURSES, INVESTIGATIVE LEARNING AND ATHLETICS CAMPS, AND THE SIGNATURE LAKESIDE EDUCATIONAL ENRICHMENT PROGRAM (LEEP) WHICH SERVES SEATTLE PUBLIC SCHOOL STUDENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23UPPER SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24MIDDLE SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR OF TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR OF COLLEGE COUNSELING
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF STUDENT SUPPORT
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF EXPERIENTIAL EDUCATION
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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
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