Civic Intelligence

The Nueva School

990 • Fiscal year 2015 • EIN 94-1633387

Jul 01, 2014 to Jun 30, 2015 • Filed on May 04, 2016

Refreshing map…

6565 Skyline BlvdHillsborough, CA 94010

(650) 350-4600

Siviq Scores

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

Liabilities / Assets

64th percentile

0.47x

Higher debt load relative to assets than 64% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

82nd percentile

1.79x

Higher debt load relative to revenue than 82% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Net Margin

83rd percentile

25%

Higher net margin than 83% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

40th percentile

$384,781

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Asset Growth

83rd percentile

12%

Faster asset growth than 83% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

76th percentile

14%

Faster revenue growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Assets

Up

$159,464,850

Up $16,507,179 (+12%) from 2014

Net Assets

Up

$85,180,778

Up $10,012,600 (+13%) from 2014

Liabilities

Up

$74,284,072

Up $6,494,579 (+9.6%) from 2014

Revenue

Up

$41,426,237

Up $4,950,809 (+14%) from 2014

Expenses

Up

$31,131,324

Up $7,429,489 (+31%) from 2014

Net Income

Down

$10,294,913

Down $2,478,680 (-19%) from 2014

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $53,636,661Liabilities 2010: $15,837,012Net Assets 2010: $37,799,6492010Assets 2011: $55,900,309Liabilities 2011: $16,371,345Net Assets 2011: $39,528,9642011Assets 2012: $69,697,563Liabilities 2012: $17,554,476Net Assets 2012: $52,143,0872012Assets 2013: $102,331,994Liabilities 2013: $40,892,497Net Assets 2013: $61,439,4972013Assets 2014: $142,957,671Liabilities 2014: $67,789,493Net Assets 2014: $75,168,1782014Assets 2015: $159,464,850Liabilities 2015: $74,284,072Net Assets 2015: $85,180,7782015Assets 2016: $162,247,615Liabilities 2016: $78,409,625Net Assets 2016: $83,837,9902016Assets 2017: $164,299,181Liabilities 2017: $81,377,356Net Assets 2017: $82,921,8252017Assets 2018: $194,105,935Liabilities 2018: $83,769,732Net Assets 2018: $110,336,2032018Assets 2019: $213,694,521Liabilities 2019: $88,351,250Net Assets 2019: $125,343,2712019Assets 2020: $225,889,762Liabilities 2020: $92,167,572Net Assets 2020: $133,722,1902020Assets 2021: $241,559,050Liabilities 2021: $88,896,666Net Assets 2021: $152,662,3842021Assets 2022: $263,030,582Liabilities 2022: $86,993,457Net Assets 2022: $176,037,1252022Assets 2023: $279,856,736Liabilities 2023: $90,989,491Net Assets 2023: $188,867,2452023

Highlighted filing

2015

Assets$159,464,850
Liabilities$74,284,072
Net Assets$85,180,778

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $14,848,3012010Expenses 2011: $16,319,1692011Expenses 2012: $17,580,4542012Expenses 2013: $18,640,0252013Revenue 2014: $36,475,428Expenses 2014: $23,701,835Net Income 2014: $12,773,5932014Revenue 2015: $41,426,237Expenses 2015: $31,131,324Net Income 2015: $10,294,9132015Revenue 2016: $36,975,468Expenses 2016: $38,028,337Net Income 2016: -$1,052,8692016Revenue 2017: $43,105,065Expenses 2017: $44,703,161Net Income 2017: -$1,598,0962017Revenue 2018: $74,729,002Expenses 2018: $47,801,615Net Income 2018: $26,927,3872018Revenue 2019: $66,457,809Expenses 2019: $51,740,494Net Income 2019: $14,717,3152019Revenue 2020: $60,556,880Expenses 2020: $52,240,109Net Income 2020: $8,316,7712020Revenue 2021: $66,364,688Expenses 2021: $50,648,048Net Income 2021: $15,716,6402021Revenue 2022: $88,478,791Expenses 2022: $60,466,994Net Income 2022: $28,011,7972022Revenue 2023: $73,973,737Expenses 2023: $65,071,161Net Income 2023: $8,902,5762023

Highlighted filing

2015

Revenue$41,426,237
Expenses$31,131,324
Net Income$10,294,913
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 4, 2016
Return Version
2014v6.0
Gross Receipts
$53,211,456
Mission and Program Overview

Mission

Our school community inspires passion for lifelong learning, fosters social and emotional acuity and develops the student's imaginative mind.

Independent school operating for educational purposes - students grades pre-k through 10th.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$98,743,569$117,676,685▲ $18,933,116
Savings and Temporary Cash Investments$21,893,638$19,249,010▼ $2,644,628
Investments in Publicly Traded Securities$9,453,360$8,787,473▼ $665,887
Accounts Receivable$5,134,402$6,820,966▲ $1,686,564
Cash and Non-Interest-Bearing Accounts$1,077,145$2,608,905▲ $1,531,760
Pledges and Grants Receivable$4,470,528$2,365,229▼ $2,105,299
Prepaid Expenses and Deferred Charges$717,882$534,159▼ $183,723
Investments Other Securities$504,859$484,160▼ $20,699
Total Assets$142,957,671$159,464,850▲ $16,507,179
Other Assets Total$962,288$938,263▼ $24,025
Liabilities
Tax Exempt Bond Liabilities$32,253,421$40,000,000▲ $7,746,579
Deferred Revenue$21,018,503$25,126,798▲ $4,108,295
Mortgage Notes Payable Secured by Investment Property$2,421,960$5,235,004▲ $2,813,044
Accounts Payable and Accrued Expenses$12,095,609$3,922,270▼ $8,173,339
Total Liabilities$67,789,493$74,284,072▲ $6,494,579
Net Assets / Fund Balance
Temporarily Rstr Net Assets$34,698,784$42,848,552▲ $8,149,768
Unrestricted Net Assets$32,179,890$34,037,622▲ $1,857,732
Permanently Rstr Net Assets$8,289,504$8,294,604▲ $5,100
Total Net Assets Fund Balance$75,168,178$85,180,778▲ $10,012,600
Total Liabilities and Net Assets / Fund Balance$142,957,671$159,464,850▲ $16,507,179

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$90,114,764$11,043,740$101,158,504
Land$23,074,513-$23,074,513
Equipment$2,446,967$3,496,924$5,943,891
Other Land Buildings$2,040,441-$2,040,441

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$9,702,881$5,100▼ $132,082$553,820$9,022,079
2013$8,860,058-▲ $1,378,014$535,191$9,702,881
2012$8,677,289$16,838▲ $676,980$511,049$8,860,058
2011$8,930,736$344,684▼ $138,642$459,489$8,677,289
2010$7,330,538$426,504▲ $1,541,629$367,935$8,930,736
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RosenbergHead of SchoolFT$332,004$52,777$384,781
Terry LeeAssociate Head of SchoolFT$280,125$61,289$341,414
Mark SchoeffelUpper School Division HeadFT$178,177$42,838$221,015
Shirley DoxtadDirector of Finance & AdministrationFT$160,194$27,897$188,091
Kim SaxeInnovation Lab DirectorFT$134,260$16,293$150,553
Matt BermanWebsite Director/teacherFT$132,888$16,171$149,059
Cory CombsDirector of Outreach, Music & EnrichmentFT$118,391$11,009$129,400

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Devcon Construction INCConstruction690 GIBRALTAR DRIVE, Milpitas, CA 95035$22,968,013
FlikLunch Program & Catering ServicePO BOX 50196, Los Angeles, CA 90074$891,652
Cyo TransportationBus Transportation699 SERRAMONTE BLVD SUITE 210, Daly City, CA 94015$738,937
Netronix IntegrationComputer Repair And Maintenance2170 PARAGON DRIVE, San Jose, CA 95131$414,361
Leddy Maytum Stacy ArchitectsArchitectural Professional Services677 HARRISON STREET, San Francisco, CA 94107$370,815
Revenue and Support

Revenue Composition

Contributions and Grants
$15,251,075
Program Service Revenue
$25,271,990
Investment Income
$156,365
Other Revenue
$746,807
All Other Contributions
$14,927,266
Change in Net Assets
$10,294,913

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 Traded57$10,915,042Fair Market Value
Other Non Cash Contri Table272$92,899Fair Market Value
Other Non Cash Contri Table14$41,460Fair Market Value
Other Non Cash Contri Table17$39,990Fair Market Value
Other Non Cash Contri Table6$18,228Fair Market Value
Other Non Cash Contri Table1$7,600Fair Market Value
Other Non Cash Contri Table5$5,535Fair Market Value
Other Non Cash Contri Table5$2,844Fair Market Value
Total Noncash Contributions377$11,123,598-

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,464,010
Revenue Not Reported on Financial Statements
$1,962,227
Revenue Not Reported on Form 990
$-282,313
Other Revenue Adjustments
$1,962,227
Total Revenue per Audited Statements
$39,181,697
Total Revenue per Form 990
$41,426,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,913,623
Salaries, Compensation, and Employee Benefits$14,255,474
Grants and Similar Amounts Paid$1,962,227
Total Fundraising Expense$625,831
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,778,140$1,898,669$334,673$11,011,482
Depreciation Depletion-$2,662,605-$2,662,605
Fees for Services Other$1,298,604$1,305,298$52,235$2,656,137
Other Employee Benefits$1,668,302$660,740$67,950$2,396,992
Grants to Domestic Individuals$1,962,227--$1,962,227
Interest-$1,077,492-$1,077,492
Information Technology$1,065,637--$1,065,637
All Other Expenses$396,389$513,266$137,887$1,047,542
Occupancy-$904,085-$904,085
Current Officers, Directors, Trustees, and Key Employees-$847,000-$847,000
Other Expenses$703,990--$703,990
Conferences and Meetings$358,126$99,790$10,843$468,759
Office Expenses$140,020$142,836$22,243$305,099
Insurance-$214,578-$214,578
Fees for Services Accounting-$67,500-$67,500
Fees for Services Legal-$27,095-$27,095
Advertising$1,587$17,065-$18,652
Fees for Service Investment Mgmnt Fees-$16,335-$16,335
Travel$264$9,339-$9,603
Total Functional Expenses$20,041,800$10,463,693$625,831$31,131,324

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$31,131,324
Expenses per Audited Statements$29,169,097
Total Expenses per Audited Statements$29,169,097
Expenses Not Reported on Financial Statements$1,962,227
Other Expense Adjustments$1,962,227
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$817,400

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
South AmericaProgram ServicesEducational Class Trips00$335,869
Central AmericaProgram ServicesEducational Class Trips00$238,040
East Asia and the PacificProgram ServicesEducational Class Trips00$159,089
EuropeProgram ServicesEducational Class Trips00$84,402
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,138,849
Fundraising Direct Expenses$392,042
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
The Nueva Benefit Auction$1,457,549$1,138,849$184,851$953,998
Total Events$1,457,549$1,138,849$392,042$746,807
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Municipal Finance Authority2012-12-01$40,000,000Construction of upper school facility

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$40,000,000--$196,900

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 B, Line 11

The taxpayer's accounting firm forwarded the form 990 to the finance director, the associate head of school, and the head of school for their review. The associate head of school then forwarded the form 990 to the finance committee co-chairs, board executive committee for their final review. Board members were provided the public disclosure copy due to sensitivity around donor information, and were encouraged to forward their questions to the associate head of school/treasurer/finance director. Either the associate head of school/treasurer/finance director or the accounting firm addressed the questions from the board prior to the filing of the form 990.

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

The nueva school conflict of interest policy covers its trustees, head of school, officers and all employees of the school. It requires individuals to disclose to the president of the board of trustees and the head of school existence of any financial or competitive interest that may give rise to a conflict of interest. Additionally, the head of school and the associate head of school will monitor proposed or ongoing transactions for potential conflict of interest and disclose them to the president of the board of trustees. A person who reports or is disclosed as having a conflict of interest may be required to be disqualified from participating in related discussion or decision. This policy is discussed each year at a board of trustees meeting, where individuals with potential conflicts are encouraged to disclose any potential conflicts to the head of school and the president of the board of trustees.

Form 990, Part VI, Section B, Line 15

The board compensation committee engaged an independent compensation consultant to obtain benchmark data, and assess the appropriate level of compensation for the head of school and associate head of school. The school also prepared benchmark data available from isboa and nais surveys for compensation committee review.

Form 990, Part VI, Section C, Line 19

Audited financials, governing documents and conflict of interest policy are available upon request for the same period of time set forth in sec. 6104(d).

Filing and Contact Details

Filer

Filer Name
Nueva School
EIN
94-1633387
Phone
6503504600
Address
6565 SKYLINE BLVD, HILLSBOROUGH, CA 94010

Signing Officer

Name
Terry Lee
Title
Associate Head of School
Phone
6503504600
Signed
2016-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Rosenberg
Formed
1966
Legal Domicile
CA
Voting Board Members
29
Independent Board Members
29
Employees
243
Volunteers
290

Preparer

Firm
Hood & Strong Llp
Address
100 FIRST STREET 14TH FLOOR, SAN FRANCISCO, CA 94105
Preparer
Maga E Kisriev
Phone
4157810793
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A, Program Service Accomplishments

The nueva school, an internationally-recognized, award-winning, non-profit, independent day school serving students pk-11 expanding to pk-12, has served gifted and talented students since 1967. Nueva is a student-centered school known for its distinctive inquiry-based interdisciplinary studies, constructivist project-based experiential learning, and its pioneering work in social emotional learning and design thinking. The school also offers specialist teachers and coaches in numerous other core and elective areas including stem, humanities, writing, the arts, athletics, entrepreneurship, and programming, to name but a few. The school has been recognized as a winner of the us department of education national blue ribbon award, recognized as an apple distinguished program, appointed an ashoka changemaker school, and was highlighted by the pulitzer prize-winning and new york times best-selling author thomas friedman in his book "that used to be us" in the chapter "average is over".

Financial Statement Notes

PART V, LINE 4:

The school budgets a portion of the endowment investment income to help fund the operations of the school. The school's spending policy allows for annual transfers up to 7% of the portfolio value, where the portfolio value is determined based on an average of the preceding 12 quarter portfolio market values at the end of each period. The school expects the current spending policy to allow its endowment to grow at the rate of inflation over the endowment's investment horizon.

PART X, LINE 2:

The school is a tax exempt organization under internal revenue code section 501(c)(3) and the california tax code. Management evaluated the school's tax positions and concluded that the school had maintained its tax exempt status and had not taken uncertain tax positions that required adjustment to the financial statements. Therefore, no provision or liability for income taxes has been included in the financial statements.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards netted against tuition 1,962,227.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards netted against tuition 1,962,227.

Raw XML AppendixShowing 400 of 990 raw XML fields

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/PersonNm31MARK SCHOEFFEL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CO-CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
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/TitleTxt15TRUSTEE
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/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt30ASSOCIATE HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt31UPPER SCHOOL DIVISION HEAD
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR OF FINANCE & ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt33INNOVATION LAB DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34WEBSITE DIRECTOR/TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIR OF OUTREACH, MUSIC & ENRICHMENT
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$280$91.0$189$74.0$65.1$8.90
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$263$87.0$176$88.5$60.5$28.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$242$88.9$153$66.4$50.6$15.7
2020Summary only. Only limited summary data is available for this year.$226$92.2$134$60.6$52.2$8.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$214$88.4$125$66.5$51.7$14.7
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$194$83.8$110$74.7$47.8$26.9
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$164$81.4$82.9$43.1$44.7$1.60
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$162$78.4$83.8$37.0$38.0$1.05
2015Detailed filing. Detailed filing data is available for this year.$159$74.3$85.2$41.4$31.1$10.3
2014Detailed filing. Detailed filing data is available for this year.$143$67.8$75.2$36.5$23.7$12.8
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$40.9$61.4$18.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.7$17.6$52.1$17.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.9$16.4$39.5$16.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.6$15.8$37.8$14.8
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $100M-$250M nonprofits