Civic Intelligence

University Preparatory Academy

990 • Fiscal year 2022 • EIN 91-0974344

Jul 01, 2021 to Jun 30, 2022 • Filed on May 01, 2023

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

59th percentile

0.36x

Higher debt load relative to assets than 59% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

73rd percentile

1.09x

Higher debt load relative to revenue than 73% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

84th percentile

32%

Higher net margin than 84% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

50th percentile

$465,468

Higher top officer pay than 50% of similar nonprofits.

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

74th percentile

7.1%

Faster asset growth than 74% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

82nd percentile

26%

Faster revenue growth than 82% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Up

$111,654,296

Up $7,421,576 (+7.1%) from 2021

Net Assets

Up

$71,640,715

Up $9,166,928 (+15%) from 2021

Liabilities

Down

$40,013,581

Down $1,745,352 (-4.2%) from 2021

Revenue

Up

$36,616,397

Up $7,515,132 (+26%) from 2021

Expenses

Up

$24,810,578

Up $2,309,187 (+10%) from 2021

Net Income

Up

$11,805,819

Up $5,205,945 (+79%) from 2021

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

2022

Assets$111,654,296
Liabilities$40,013,581
Net Assets$71,640,715

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

2022

Revenue$36,616,397
Expenses$24,810,578
Net Income$11,805,819
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 1, 2023
Return Version
2021v4.2
Gross Receipts
$37,002,703
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$34,048,219$36,000,998▲ $1,952,779
Investments in Publicly Traded Securities$19,879,276$17,013,222▼ $2,866,054
Savings and Temporary Cash Investments$15,876,834$16,280,741▲ $403,907
Cash and Non-Interest-Bearing Accounts$12,877,338$15,905,484▲ $3,028,146
Accounts Receivable$14,713,133$15,773,388▲ $1,060,255
Pledges and Grants Receivable$4,815,385$8,562,601▲ $3,747,216
Investments Other Securities$1,511,805$1,576,030▲ $64,225
Prepaid Expenses and Deferred Charges$359,636$400,364▲ $40,728
Total Assets$104,232,720$111,654,296▲ $7,421,576
Other Assets Total$151,094$141,468▼ $9,626
Liabilities
Deferred Revenue$20,980,075$22,179,889▲ $1,199,814
Mortgage Notes Payable Secured by Investment Property$17,350,000$14,458,336▼ $2,891,664
Accounts Payable and Accrued Expenses$2,940,194$2,896,318▼ $43,876
Other Liabilities$488,664$479,038▼ $9,626
Total Liabilities$41,758,933$40,013,581▼ $1,745,352
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$45,049,836$54,291,577▲ $9,241,741
Net Assets With Donor Restrictions$17,423,951$17,349,138▼ $74,813
Total Net Assets Fund Balance$62,473,787$71,640,715▲ $9,166,928
Total Liabilities and Net Assets / Fund Balance$104,232,720$111,654,296▲ $7,421,576

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,063,434$21,281,576$38,345,010
Other Land Buildings$18,021,121-$18,021,121
Equipment$587,371$1,758,376$2,345,747
Land$329,072-$329,072

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$14,271,791$902,405▼ $1,320,263$109,177$13,393,340
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronnie Codrington-cazeauHead of SchoolFT$420,306$45,162$465,468
Susan LansverkAsst. Head for Fin. & Op.FT$263,472$30,903$294,375
Richard KassissiehAsst. Head of SchoolFT$181,817$25,187$207,004
Catherine BlundellDirector of AdvancementFT$173,016$24,571$197,587
Joel SohnDirector of Upper SchoolFT$167,888$18,213$186,101
Susie WuDirector of Middle SchoolFT$157,125$23,459$180,584
Kelly HerringtonDirector of College CounselingFT$156,817$23,437$180,254
Shavette McgheeDirector of Enrollment ManagementFT$136,818$22,037$158,855
Amy SpiveyDirector of Information TechnologyFT$128,454$17,770$146,224
Mary Beth LambertDirector of CommunicationsFT$133,043$9,963$143,006
Christina ZemburskiFaculty/trusteeFT$78,413$14,525$92,938

Board Members and Trustees

NameTitle
Lisa BontjePga Co-president
Tracy PozilPga Co-president
Jen ZellPresident
Van KatzmanVice-president
Patricia LandyRetired Faculty/trustee
Terry FroggattRetired Faculty/trustee
Andrea ThoresonTrustee
Andrew SelbyTrustee
Cheryl ScottTrustee
Geoff BuscherTrustee
Jason FroggattTrustee
Juli CookTrustee
Liffy FranklinTrustee
Michelle GoldbergTrustee
Miranda VirmaniTrustee
Ninevah LoweryTrustee
Ric AndersonTrustee
Scotland NashTrustee
Sujal PatelTrustee
Timothy RicheyTrustee
Tori RagenTrustee
Charisse Cowan-pitreSecretary
Mark BrittonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Venture General ContractingGeneral Contractor1518 1ST AVE S, Seattle, WA 98134$3,146,030
Marty K INCJanitorial720 N 10TH STREET A-334, Renton, WA 98057$222,968
Mithun INCArchitectPIER 56 1201 ALASKAN WAY 200, Seattle, WA 98101$127,751
Lakeside SchoolTransportation14050 1ST AVE NE, Seattle, WA 98125$104,134
Revenue and Support

Revenue Composition

Contributions and Grants
$11,225,549
Program Service Revenue
$24,738,948
Investment Income
$726,575
Other Revenue
$-74,675
All Other Contributions
$9,983,262
Change in Net Assets
$11,805,819

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 Traded24$224,364Fair Market Value
Total Noncash Contributions24$224,364-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,646,099
Revenue Not Reported on Financial Statements
$-29,702
Revenue Not Reported on Form 990
$-6,389,784
Other Revenue Adjustments
$-111,939
Total Revenue per Audited Statements
$30,256,315
Total Revenue per Form 990
$36,616,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,796,119
Other Expenses$6,263,566
Grants and Similar Amounts Paid$3,750,893
Total Fundraising Expense$978,196
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,937,522$1,168,524$455,480$10,561,526
Grants to Domestic Individuals$3,750,893--$3,750,893
Depreciation Depletion$1,387,387$168,098$81,901$1,637,386
Office Expenses$1,227,408$195,675$103,165$1,526,248
Current Officers, Directors, Trustees, and Key Employees$702,220$691,419$98,339$1,491,978
Other Employee Benefits$950,707$214,416$63,177$1,228,300
Occupancy$898,583$108,874$53,046$1,060,503
Payroll Taxes$751,213$141,013$47,089$939,315
Pension Plan Contributions$491,476$56,300$27,224$575,000
All Other Expenses$299,458$150,658$16,930$467,046
Fees for Services Other$78,602$156,104-$234,706
Conferences and Meetings$162,264$40,509$6,350$209,123
Other Expenses$189,142$196,206$1,441$189,142
Fees for Service Investment Mgmnt Fees-$82,237-$82,237
Fees for Services Accounting-$67,875-$67,875
Travel$62,341$941$10$63,292
Advertising$33,376$4,044$1,970$39,390
Interest$22,038$2,670$1,301$26,009
Fees for Services Legal-$13,531-$13,531
Total Functional Expenses$20,302,191$3,530,191$978,196$24,810,578

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$24,810,578
Total Expenses per Audited Statements$21,089,387
Expenses per Audited Statements$20,977,448
Expenses Not Reported on Financial Statements$3,833,130
Other Expense Adjustments$3,750,893
Expenses Not Reported on Form 990$111,939
International Activity

International Summary

Offices
0
Employees
0
Spending
$762,836

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 CaribbeanInvestmentsN/a00$762,836
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$110,920
Fundraising Gross Income$29,625
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Uprep Together$791,339$29,625$16,473$13,152
Total Events$791,339$29,625$110,920$-81,295
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$141,468
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 revisions to the bylaws include the following: -the range for the number of trustees to serve on the board was updated. -certain trustees have been changed to ex-officio members including the head of school, parent-guardian association co-chairs, and the faculty trustee. -updated the number of trustees to hold a quorum. -updated the number of trustees on the executive committee. -updated the allocation of board members serving on board committees.

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 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 2022.

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
2023-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronnie Codrington-cazeau
Formed
1976
Legal Domicile
Wa
Voting Board Members
23
Independent Board Members
23
Employees
243
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. 23 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 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 -3,750,893.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Special event expenses netted against revenue -110,920. Loss on disposal netted against revenue -1,019.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses netted against revenue 110,920. Loss on disposal netted against revenue 1,019.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid expense reported on part ix 3,750,893.

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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/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1FACULTY/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6PGA CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7PGA CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13RETIRED FACULTY/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15RETIRED FACULTY/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/TitleTxt25ASST. HEAD FOR FIN. & OP.
IRS990/Form990PartVIISectionAGrp/TitleTxt26ASST. HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR OF UPPER 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
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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