Civic Intelligence

University Preparatory Academy

990 • Fiscal year 2014 • EIN 91-0974344

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 28, 2015

8000 25th Avenue NE98115

(206) 832-1107

Siviq Scores

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

Liabilities / Assets

47th percentile

0.25x

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

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

67th percentile

0.62x

Higher debt load relative to revenue than 67% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

74th percentile

16%

Higher net margin than 74% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

68th percentile

$325,172

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

61st percentile

7.2%

Faster asset growth than 61% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

74th percentile

14%

Faster revenue growth than 74% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Assets

Up

$47,875,899

Up $3,228,842 (+7.2%) from 2013

Net Assets

Up

$35,933,311

Up $3,458,444 (+11%) from 2013

Liabilities

Down

$11,942,588

Down $229,602 (-1.9%) from 2013

Revenue

Up

$19,169,656

Up $2,387,435 (+14%) from 2013

Expenses

Up

$16,056,185

Up $357,382 (+2.3%) from 2013

Net Income

Up

$3,113,471

Up $2,030,053 (+187%) from 2013

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $40,292,841Liabilities 2010: $11,983,000Net Assets 2010: $28,309,8412010Assets 2011: $43,738,074Liabilities 2011: $12,270,188Net Assets 2011: $31,467,8862011Assets 2012: $43,275,216Liabilities 2012: $11,875,024Net Assets 2012: $31,400,1922012Assets 2013: $44,647,057Liabilities 2013: $12,172,190Net Assets 2013: $32,474,8672013Assets 2014: $47,875,899Liabilities 2014: $11,942,588Net Assets 2014: $35,933,3112014Assets 2015: $50,185,663Liabilities 2015: $12,214,677Net Assets 2015: $37,970,9862015Assets 2016: $50,641,732Liabilities 2016: $12,311,167Net Assets 2016: $38,330,5652016Assets 2017: $55,853,202Liabilities 2017: $15,462,768Net Assets 2017: $40,390,4342017Assets 2018: $59,931,850Liabilities 2018: $16,616,481Net Assets 2018: $43,315,3692018Assets 2019: $68,838,510Liabilities 2019: $20,005,565Net Assets 2019: $48,832,9452019Assets 2020: $83,144,773Liabilities 2020: $30,276,028Net Assets 2020: $52,868,7452020Assets 2021: $104,232,720Liabilities 2021: $41,758,933Net Assets 2021: $62,473,7872021Assets 2022: $111,654,296Liabilities 2022: $40,013,581Net Assets 2022: $71,640,7152022Assets 2023: $144,192,889Liabilities 2023: $65,768,471Net Assets 2023: $78,424,4182023Assets 2024: $166,542,321Liabilities 2024: $80,554,487Net Assets 2024: $85,987,8342024

Highlighted filing

2014

Assets$47,875,899
Liabilities$11,942,588
Net Assets$35,933,311

Operations Trend

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

$40M$30M$20M$10M$0Expenses 2010: $13,604,1252010Expenses 2011: $14,651,4172011Expenses 2012: $15,304,3762012Revenue 2013: $16,782,221Expenses 2013: $15,698,803Net Income 2013: $1,083,4182013Revenue 2014: $19,169,656Expenses 2014: $16,056,185Net Income 2014: $3,113,4712014Revenue 2015: $19,077,166Expenses 2015: $16,357,460Net Income 2015: $2,719,7062015Revenue 2016: $19,153,866Expenses 2016: $17,938,479Net Income 2016: $1,215,3872016Revenue 2017: $19,882,255Expenses 2017: $19,108,139Net Income 2017: $774,1162017Revenue 2018: $21,728,105Expenses 2018: $19,549,360Net Income 2018: $2,178,7452018Revenue 2019: $26,559,826Expenses 2019: $21,421,069Net Income 2019: $5,138,7572019Revenue 2020: $26,929,964Expenses 2020: $22,572,952Net Income 2020: $4,357,0122020Revenue 2021: $29,101,265Expenses 2021: $22,501,391Net Income 2021: $6,599,8742021Revenue 2022: $36,616,397Expenses 2022: $24,810,578Net Income 2022: $11,805,8192022Revenue 2023: $31,300,019Expenses 2023: $25,849,953Net Income 2023: $5,450,0662023Revenue 2024: $36,146,863Expenses 2024: $30,997,985Net Income 2024: $5,148,8782024

Highlighted filing

2014

Revenue$19,169,656
Expenses$16,056,185
Net Income$3,113,471
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 28, 2015
Return Version
2013v4.0
Gross Receipts
$20,743,472
Mission and Program Overview

Mission

University preparatory academy is committed to developing each student's potential to become an intellectually courageous and socially responsible citizen of the world.

Independent school providing private education to 528 students grades 6 thru 12 founded 1976.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,238,951$22,117,226▼ $1,121,725
Investments in Publicly Traded Securities$11,388,158$13,653,897▲ $2,265,739
Cash and Non-Interest-Bearing Accounts$6,976,573$7,962,860▲ $986,287
Savings and Temporary Cash Investments$654,644$2,986,207▲ $2,331,563
Pledges and Grants Receivable$801,281$774,036▼ $27,245
Prepaid Expenses and Deferred Charges$221,812$169,296▼ $52,516
Intangible Assets$6,750$5,130▼ $1,620
Accounts Receivable$77,790$4,936▼ $72,854
Total Assets$44,647,057$47,875,899▲ $3,228,842
Other Assets Total$1,281,098$202,311▼ $1,078,787
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,432,626$5,171,751▼ $260,875
Deferred Revenue$4,963,053$5,171,026▲ $207,973
Accounts Payable and Accrued Expenses$1,152,511$942,358▼ $210,153
Other Liabilities$624,000$657,453▲ $33,453
Total Liabilities$12,172,190$11,942,588▼ $229,602
Net Assets / Fund Balance
Unrestricted Net Assets$24,357,679$26,305,363▲ $1,947,684
Permanently Rstr Net Assets$5,995,797$6,807,020▲ $811,223
Temporarily Rstr Net Assets$2,121,391$2,820,928▲ $699,537
Total Net Assets Fund Balance$32,474,867$35,933,311▲ $3,458,444
Total Liabilities and Net Assets / Fund Balance$44,647,057$47,875,899▲ $3,228,842

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,130,736$11,644,927$32,775,663
Equipment$657,418$1,837,727$2,495,145
Land$329,072-$329,072

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$7,267,561$703,652▲ $1,153,864$139,587$8,837,935
2012$6,705,685$128,224▲ $701,158$130,207$7,267,561
2011$6,816,594$82,329▲ $57,372$120,279$6,705,685
2010$5,319,058$573,966▲ $1,151,201$106,524$6,816,594
2009$4,499,538$423,914▲ $395,606-$5,319,058
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erica HamlinHead of SchoolFT$270,381$54,791$325,172
Susan LansverkChief Financial OfficerFT$185,169$19,124$204,293
Ken JaffeAssistant Head of SchoolFT$163,182$17,534$180,716
Paul RudnickDirector of DevelopmentFT$125,939$15,742$141,681
Marianne PichaMiddle School DirectorFT$112,029$14,123$126,152
Kelly HerringtonDirector of College CounselingFT$111,979$13,864$125,843
Richard KassissiehAcademic DeanFT$114,160$8,706$122,866
Mitch TurnerIt ManagerFT$111,826$10,734$122,560
Anne BinghamCurrent Faculty/trusteeFT$72,593$12,497$85,090
Terry FroggattTrustee-$133-$133

Board Members and Trustees

NameTitle
Spoon DickeyPresident
Bob DavidsonVice President
Patricia LandyRetired Faculty/ Current Trustee
Abhi ShethTrustee
Aru ChandorkarTrustee
Bill HestonTrustee
Dave BeitelTrustee
Dave HanowerTrustee
Elizabeth Causby-milesTrustee
Gail KlemencicTrustee
Gary ShenkTrustee
Kate MarksTrustee
Linda WalkerTrustee
Mikal ThomsenTrustee
Patricia WashingtonTrustee
Paula SimonTrustee
Peris JoynerTrustee
Sara KranwinkleTrustee
Shahina PiyaraliTrustee
Susie WuTrustee
Wendy Nakatsukasa-onoTrustee
Yuval NeemanTrustee
Ruth TresselSecretary/VP
Bill CampbellTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Lakeside SchoolTransportation-$156,419
Skanska USA BuildingContractor Services-$124,056
ArterianIt Services-$123,305
Marty K INCJanitorial Services-$100,348
Revenue and Support

Revenue Composition

Contributions and Grants
$1,600,534
Program Service Revenue
$15,915,514
Investment Income
$1,645,822
Other Revenue
$7,786
All Other Contributions
$1,393,032
Change in Net Assets
$3,113,471

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
Other Non Cash Contri Table203$77,808Cost/selling Price
Securities Publicly Traded6$68,248Fair Market Value
Total Noncash Contributions209$146,056-

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,114,021
Revenue Not Reported on Financial Statements
$55,635
Revenue Not Reported on Form 990
$-1,768,071
Other Revenue Adjustments
$-72,712
Total Revenue per Audited Statements
$17,345,950
Total Revenue per Form 990
$19,169,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,375,375
Other Expenses$4,567,766
Grants and Similar Amounts Paid$2,113,044
Total Fundraising Expense$697,585
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,948,199$650,135$305,397$6,903,731
Grants to Domestic Individuals$2,113,044--$2,113,044
Depreciation Depletion$1,143,757$139,087$67,518$1,350,362
Office Expenses$1,162,784$63,004$78,949$1,304,737
Current Officers, Directors, Trustees, and Key Employees$276,146$512,809$52,491$841,446
Occupancy$611,629$74,378$36,106$722,113
Other Employee Benefits$554,097$91,529$31,540$677,166
Payroll Taxes$443,810$80,359$25,371$549,540
Pension Plan Contributions$349,331$36,129$18,032$403,492
Fees for Services Other$155,326$58,002$9,169$222,497
Conferences and Meetings$109,388$21,648$5,178$136,214
All Other Expenses$31,219$95,159$3,541$129,919
Interest$109,948$13,370$6,490$129,808
Fees for Service Investment Mgmnt Fees-$128,347-$128,347
Advertising$36,637$4,455$2,163$43,255
Fees for Services Accounting-$43,092-$43,092
Fees for Services Legal-$34,583-$34,583
Other Expenses$30,058$5,000$52,474$30,058
Travel$13,708$2,923$1,020$17,651
Total Functional Expenses$13,284,179$2,074,421$697,585$16,056,185

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$16,056,185
Total Expenses per Audited Statements$13,887,506
Expenses per Audited Statements$13,814,794
Expenses Not Reported on Financial Statements$2,241,391
Other Expense Adjustments$2,113,044
Expenses Not Reported on Form 990$72,712
International Activity

International Summary

Offices
0
Employees
0
Spending
$29,000

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan AfricaProgram ServiceStudent Travel and Education Programs00$14,000
East Asia and the PacificProgram ServiceStudent Travel and Education Programs00$11,000
South AsiaProgram ServiceStudent Travel and Education Programs00$4,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$137,263
Fundraising Direct Expenses$132,282
Gaming Gross Income$9,900
Gaming Direct Expenses$1,200
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$302,648$137,263$83,564$53,699
Total Events$302,648$137,263$132,282$4,981
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Post Retirement Benefits$455,142
Retirement Annuity Payable$202,311
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
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 A, Line 2

Mikal thomsen and yuval neeman have a business relationship.

Form 990, Part VI, Section B, Line 11

The finance and executive committees review and approve the form 990.

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

A conflict of interest statement is completed by each trustee and officer each year. They are reviewed by the chief financial officer to determine if any conflicts are indicated. The president of the board would review any conflicts that are disclosed. If a conflict is found, the trustee would recuse himself/herself from voting on or discussing the matter.

Form 990, Part VI, Section B, Line 15

The head of school's compensation is established by the executive committee of the board of trustees through a thorough process of reviewing performance and comparable compensation data from peer schools collected from an independent source. This process was last undertaken in february 2013. The chief financial officer's compensation and assistant head of school's compensation are established by the head of school using the same process. This process was last undertaken in may 2014.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Part VII

Some of the trustees are also teachers for the organization and receive compensation for their services as teachers only. The head of the school is considered an officer and receives compensation for her service as ceo. Compensated individuals recuse themselves from discussing and voting on certain matters per the by-laws.

Filing and Contact Details

Filer

EIN
91-0974344
Phone
2068321107

Signing Officer

Name
Susan Lansverk
Title
Chief Financial Officer
Phone
2068321107
Signed
2015-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Levinson
Formed
1976
Legal Domicile
Wa
Voting Board Members
27
Independent Board Members
25
Employees
215
Volunteers
100

Preparer

Preparer
Sara Elizabeth J Hyre
Phone
4254544919
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6;

Volunteers organize the annual auction and serve on committees/board and parent council activities. 25 members of the board also serve as volunteers.

Financial Statement Notes

PART V, LINE 4:

The funds are used according to the endowment spending policy. The permanently restricted endowments have specific purposes they were given for by donors: financial aid, professional development, and unrestricted use amongst others. The unrestricted funds support the general operating budget. Our campaign for endowment gave donors the ability to give to unrestricted use, financial aid, professional development, faculty salary support, and international education. Our most recent endowment campaign funded the new erica and nason hamlin endowed scholarship fund.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid grouped with revenue on the financial statements -2,113,044.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Direct special event expenses netted against revenue -54,474. Rental expense netted against revenue -17,038. Gaming expense netted against revenue -1,200.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct special event expenses netted against revenue 54,474. Gaming expense netted against revenue 1,200. Rental expense netted against revenue 17,038.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid grouped with revenue on the financial statements 2,113,044.

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IRS990/Desc0INDEPENDENT SCHOOL PROVIDING PRIVATE EDUCATION TO 528 STUDENTS GRADES 6 THRU 12. ACCREDITED WITH NORTHWEST ASSOCIATION OF INDEPENDENT SCHOOLS AND THE STATE OF WASHINGTON. COMMITTED TO DEVELOPING EACH STUDENT'S POTENTIAL TO BECOME AN INTELLECTUALLY COURAGEOUS AND SOCIALLY RESPONSIBLE CITIZEN OF THE WORLD.
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IRS990/Form990PartVIISectionAGrp/PersonNm15PATRICIA LANDY
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IRS990/Form990PartVIISectionAGrp/PersonNm18BILL HESTON
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IRS990/Form990PartVIISectionAGrp/PersonNm20MIKAL THOMSEN
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IRS990/Form990PartVIISectionAGrp/PersonNm32RICHARD KASSISSIEH
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/VP
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15RETIRED FACULTY/ CURRENT TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25CURRENT FACULTY/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt28ASSISTANT HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt29MIDDLE SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR OF COLLEGE COUNSELING
IRS990/Form990PartVIISectionAGrp/TitleTxt32ACADEMIC DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt33IT MANAGER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01976
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
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IRS990/FundraisingDirectExpensesAmt0132282
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IRS990/GoverningBodyVotingMembersCnt027
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$167$80.6$86.0$36.1$31.0$5.15
2023Detailed filing. Detailed filing data is available for this year.$144$65.8$78.4$31.3$25.8$5.45
2022Detailed filing. Detailed filing data is available for this year.$112$40.0$71.6$36.6$24.8$11.8
2021Detailed filing. Detailed filing data is available for this year.$104$41.8$62.5$29.1$22.5$6.60
2020Detailed filing. Detailed filing data is available for this year.$83.1$30.3$52.9$26.9$22.6$4.36
2019Detailed filing. Detailed filing data is available for this year.$68.8$20.0$48.8$26.6$21.4$5.14
2018Detailed filing. Detailed filing data is available for this year.$59.9$16.6$43.3$21.7$19.5$2.18
2017Detailed filing. Detailed filing data is available for this year.$55.9$15.5$40.4$19.9$19.1$0.77
2016Detailed filing. Detailed filing data is available for this year.$50.6$12.3$38.3$19.2$17.9$1.22
2015Detailed filing. Detailed filing data is available for this year.$50.2$12.2$38.0$19.1$16.4$2.72
2014Detailed filing. Detailed filing data is available for this year.$47.9$11.9$35.9$19.2$16.1$3.11
2013Summary only. Only limited summary data is available for this year.$44.6$12.2$32.5$16.8$15.7$1.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.3$11.9$31.4$15.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.7$12.3$31.5$14.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.3$12.0$28.3$13.6