Civic Intelligence

University Preparatory Academy

990 • Fiscal year 2021 • EIN 91-0974344

Jul 01, 2020 to Jun 30, 2021 • Filed on May 03, 2022

8000 25th Avenue NESeattle, WA 98115

(206) 525-2714

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.40x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

79th percentile

1.43x

Higher debt load relative to revenue than 79% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

71st percentile

23%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$281,454

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

80th percentile

25%

Faster asset growth than 80% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

43rd percentile

8.1%

Faster revenue growth than 43% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$104,232,720

Up $21,087,947 (+25%) from 2020

Net Assets

Up

$62,473,787

Up $9,605,042 (+18%) from 2020

Liabilities

Up

$41,758,933

Up $11,482,905 (+38%) from 2020

Revenue

Up

$29,101,265

Up $2,171,301 (+8.1%) from 2020

Expenses

Down

$22,501,391

Down $71,561 (-0.3%) from 2020

Net Income

Up

$6,599,874

Up $2,242,862 (+51%) from 2020

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

2021

Assets$104,232,720
Liabilities$41,758,933
Net Assets$62,473,787

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

2021

Revenue$29,101,265
Expenses$22,501,391
Net Income$6,599,874
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 3, 2022
Return Version
2020v4.2
Gross Receipts
$29,139,206
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 students grades 6 through 12 founded 1976.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,636,674$34,048,219▼ $588,455
Investments in Publicly Traded Securities$15,164,003$19,879,276▲ $4,715,273
Savings and Temporary Cash Investments$19,872,324$15,876,834▼ $3,995,490
Accounts Receivable$28,175$14,713,133▲ $14,684,958
Cash and Non-Interest-Bearing Accounts$6,944,700$12,877,338▲ $5,932,638
Pledges and Grants Receivable$4,795,287$4,815,385▲ $20,098
Investments Other Securities$1,310,666$1,511,805▲ $201,139
Prepaid Expenses and Deferred Charges$236,633$359,636▲ $123,003
Total Assets$83,144,773$104,232,720▲ $21,087,947
Other Assets Total$156,311$151,094▼ $5,217
Liabilities
Deferred Revenue$6,563,918$20,980,075▲ $14,416,157
Mortgage Notes Payable Secured by Investment Property$17,550,000$17,350,000▼ $200,000
Accounts Payable and Accrued Expenses$5,668,229$2,940,194▼ $2,728,035
Other Liabilities$493,881$488,664▼ $5,217
Total Liabilities$30,276,028$41,758,933▲ $11,482,905
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,159,427$45,049,836▲ $6,890,409
Net Assets With Donor Restrictions$14,709,318$17,423,951▲ $2,714,633
Total Net Assets Fund Balance$52,868,745$62,473,787▲ $9,605,042
Total Liabilities and Net Assets / Fund Balance$83,144,773$104,232,720▲ $21,087,947

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,485,341$19,934,686$38,420,027
Other Land Buildings$14,575,694-$14,575,694
Equipment$658,112$1,914,485$2,572,597
Land$329,072-$329,072

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$10,859,232$1,101,277▲ $2,832,052$218,069$14,271,791
2019$11,241,936$45,288▲ $68,814$218,597$10,859,232
2018$10,646,164$473,853▲ $556,501$177,212$11,241,936
2017$9,840,485$573,219▲ $661,821$207,951$10,646,164
2016$8,548,357$512,563▲ $1,150,876$198,257$9,840,485
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan LansverkAsst. Head for Fin. & Op.FT$255,101$26,353$281,454
Ronnie Codrington-cazeauHead of School From 07/20FT$206,513$4,365$210,878
Lila LohrFormer Head of School Thru 06/20FT$185,616$22,010$207,626
Richard KassissiehAsst. Head of SchoolFT$176,250$20,715$196,965
Catherine BlundellDirector of AdvancementFT$168,366$20,150$188,516
Susie WuDirector of Middle SchoolFT$151,558$18,973$170,531
Kelly HerringtonDirector of College CounselingFT$149,498$19,118$168,616
Shavette McgheeDirector of Enrollment ManagementFT$127,839$17,445$145,284
Amy SpiveyDirector of Information TechnologyFT$123,589$17,071$140,660
Ken JaffeFormer Key EmployeeFT$124,625$12,969$137,594
Mary Beth LambertDirector of CommunicationsFT$126,814$9,498$136,312
Alma AndradeFaculty/trusteeFT$91,725$15,236$106,961

Board Members and Trustees

NameTitle
Jen ZellParent Council Co-president
Lisa BontjeParent Council Co-president
Cheryl ScottPresident
Tori RagenVice President
Patricia LandyRetired Faculty/current Trustee
Terry FroggattRetired Faculty/current Trustee
Adrian BieseckerTrustee
Andrea Barry-smithTrustee
Andrea ThoresonTrustee
Andrew SelbyTrustee
Geoff BuscherTrustee
Jason FroggattTrustee
Jeanette JamesTrustee
Laura DomotoTrustee
Liffy FranklinTrustee
Michelle GoldbergTrustee
Miranda VirmaniTrustee
Ric AndersonTrustee
Sujal PatelTrustee
Suzanne McgillTrustee
Timothy RicheyTrustee
Van KatzmanTrustee
Charisse Cowan-pitreSecretary
Mark BrittonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mithun INCArchitecturePIER 56 1201 ALASKAN WAY 200, Seattle, WA 98101$1,033,865
Skanska USA Building INCGeneral Contracting221 YALE AVE N SUITE 400, Seattle, WA 98109$368,750
Marty K INCJanitorial720 N 10TH STREET A-334, Renton, WA 98057$167,124
Hillis Clark Martin & PetersonLegal999 3RD AVE 4600, Seattle, WA 98104$111,362
Revenue and Support

Revenue Composition

Contributions and Grants
$4,954,407
Program Service Revenue
$23,635,947
Investment Income
$545,902
Other Revenue
$-34,991
All Other Contributions
$4,218,860
Change in Net Assets
$6,599,874

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 Traded16$683,478Fair Market Value
Total Noncash Contributions16$683,478-

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,071,247
Revenue Not Reported on Financial Statements
$30,018
Revenue Not Reported on Form 990
$671,727
Other Revenue Adjustments
$-37,941
Total Revenue per Audited Statements
$29,742,974
Total Revenue per Form 990
$29,101,265
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,363,420
Other Expenses$4,754,030
Grants and Similar Amounts Paid$3,358,441
Total Fundraising Expense$878,632
Professional Fundraising Fees$25,500

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,884,093$1,193,150$442,473$10,519,716
Grants to Domestic Individuals$3,358,441--$3,358,441
Depreciation Depletion$1,430,469$173,317$84,444$1,688,230
Office Expenses$1,083,366$80,977$53,011$1,217,354
Current Officers, Directors, Trustees, and Key Employees$474,457$616,257$83,701$1,174,415
Other Employee Benefits$884,707$180,502$50,736$1,115,945
Payroll Taxes$731,538$139,158$43,409$914,105
Occupancy$686,640$83,194$40,534$810,368
Pension Plan Contributions$519,927$86,697$32,615$639,239
All Other Expenses$158,690$22,116$14,109$194,915
Fees for Services Other$37,788$122,380$1,050$161,218
Conferences and Meetings$136,338$16,305$1,430$154,073
Fees for Service Investment Mgmnt Fees-$67,959-$67,959
Fees for Services Accounting-$55,950-$55,950
Interest$30,492$3,694$1,800$35,986
Advertising$24,554$2,975$1,449$28,978
Fees for Services Legal-$26,433-$26,433
Fees for Services Professional Fundraising--$25,500$25,500
Other Expenses$61,771$19,995$607$19,995
Travel$4,283$422$5$4,710
Total Functional Expenses$18,635,253$2,987,506$878,632$22,501,391

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,501,391
Total Expenses per Audited Statements$20,137,932
Expenses per Audited Statements$19,074,991
Expenses Not Reported on Financial Statements$3,426,400
Other Expense Adjustments$3,358,441
Expenses Not Reported on Form 990$1,062,941
International Activity

International Summary

Offices
0
Employees
0
Spending
$689,213

International Compliance

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
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments-00$689,213
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$36,932
Professional Fundraising Fees$25,500
Gaming Gross Income$2,950
Gaming Direct Expenses$1,009
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
#UPREPTOGETHER$735,547-$31,371-
Total Events$735,547-$36,932$-36,932
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$337,570
Retirement Annuity Payable$151,094
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 2

Terry froggatt and jason froggatt have a family relationship.

Form 990, Part VI, Section A, Line 4

Significant changes to the bylaws include: committee consolidation and restructuring, modifying the powers of the executive committee and adding two ex-officio positions to the board of directors.

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

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 assistant head of school for finance and operations 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. The school had a new head of school for the 2020-2021 school year. Compensation for the new head of school was determinded by the same process and an employment contract was signed in june 2020. The assistant head of school for finance and operations 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 2021.

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, SECTION A:

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. The by-laws were amended during fy21 and these individuals are now non-voting ex-officio trustees.

Filing and Contact Details

Filer

Filer Name
University Preparatory Academy
EIN
91-0974344
Phone
2065252714
Address
8000 25TH AVENUE NE, SEATTLE, WA 98115

Signing Officer

Name
Susan Lansverk
Title
Asst. Head for Fin. & Op.
Phone
2065252714
Signed
2022-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronnie Codrington-cazeau
Formed
1976
Legal Domicile
Wa
Voting Board Members
26
Independent Board Members
24
Employees
205
Volunteers
150

Preparer

Firm
Clark Nuber Ps
Address
10900 NE 4TH STREET SUITE 1400, BELLEVUE, WA 98004
Preparer
Sara Elizabeth H Jones
Phone
4254544919
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6:

Volunteers serve on committees and parent council activities. 24 members of the board also serve as volunteers.

FORM 990, PART XI, LINE 9:

Prior year pledge write-off -1,025,000.

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 most recent endowment campaign is funding the 40th anniversary endowed financial aid fund.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid expense reported on part ix -3,358,441.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Special event & gaming expenses netted against revenue -37,941.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event & gaming expenses netted against revenue 37,941. Prior year pledge write-off 1,025,000.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid expense reported on part ix 3,358,441.

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IRS990/Form990PartVIISectionAGrp/PersonNm32AMY SPIVEY
IRS990/Form990PartVIISectionAGrp/PersonNm33MARY BETH LAMBERT
IRS990/Form990PartVIISectionAGrp/PersonNm34LILA LOHR
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL FROM 07/20
IRS990/Form990PartVIISectionAGrp/TitleTxt1FACULTY/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9PARENT COUNCIL CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18RETIRED FACULTY/CURRENT TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25PARENT COUNCIL CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26ASST. HEAD FOR FIN. & OP.
IRS990/Form990PartVIISectionAGrp/TitleTxt27ASST. HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF MIDDLE SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF COLLEGE COUNSELING
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR OF ENROLLMENT MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR OF INFORMATION TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR OF COMMUNICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt34FORMER HEAD OF SCHOOL THRU 06/20
IRS990/Form990PartVIISectionAGrp/TitleTxt35FORMER KEY EMPLOYEE
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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