Civic Intelligence

The Nueva School

990 • Fiscal year 2016 • EIN 94-1633387

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2017

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

65th percentile

0.48x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

83rd percentile

2.12x

Higher debt load relative to revenue than 83% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

25th percentile

-2.8%

Higher net margin than 25% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

61st percentile

$605,224

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

50th percentile

1.7%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

19th percentile

-11%

Faster revenue growth than 19% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Up

$162,247,615

Up $2,782,765 (+1.7%) from 2015

Net Assets

Down

$83,837,990

Down $1,342,788 (-1.6%) from 2015

Liabilities

Up

$78,409,625

Up $4,125,553 (+5.6%) from 2015

Revenue

Down

$36,975,468

Down $4,450,769 (-11%) from 2015

Expenses

Up

$38,028,337

Up $6,897,013 (+22%) from 2015

Net Income

Down

-$1,052,869

Down $11,347,782 (-110%) from 2015

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

2016

Assets$162,247,615
Liabilities$78,409,625
Net Assets$83,837,990

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

2016

Revenue$36,975,468
Expenses$38,028,337
Net Income-$1,052,869
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$38,836,086
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$117,676,685$124,079,028▲ $6,402,343
Savings and Temporary Cash Investments$19,733,170$14,822,169▼ $4,911,001
Investments in Publicly Traded Securities$8,787,473$8,517,824▼ $269,649
Accounts Receivable$6,820,966$8,181,138▲ $1,360,172
Cash and Non-Interest-Bearing Accounts$2,608,905$3,985,598▲ $1,376,693
Pledges and Grants Receivable$2,365,229$1,190,172▼ $1,175,057
Prepaid Expenses and Deferred Charges$534,159$342,484▼ $191,675
Total Assets$159,464,850$162,247,615▲ $2,782,765
Other Assets Total$938,263$1,129,202▲ $190,939
Liabilities
Tax Exempt Bond Liabilities$40,000,000$39,539,602▼ $460,398
Deferred Revenue$25,126,798$30,360,535▲ $5,233,737
Mortgage Notes Payable Secured by Investment Property$5,235,004$5,111,087▼ $123,917
Accounts Payable and Accrued Expenses$3,922,270$3,398,401▼ $523,869
Total Liabilities$74,284,072$78,409,625▲ $4,125,553
Net Assets / Fund Balance
Temporarily Rstr Net Assets$42,848,552$39,682,107▼ $3,166,445
Unrestricted Net Assets$34,037,622$35,704,979▲ $1,667,357
Permanently Rstr Net Assets$8,294,604$8,450,904▲ $156,300
Total Net Assets Fund Balance$85,180,778$83,837,990▼ $1,342,788
Total Liabilities and Net Assets / Fund Balance$159,464,850$162,247,615▲ $2,782,765

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$97,615,788$13,599,343$111,215,131
Land$23,074,513-$23,074,513
Equipment$2,606,789$4,346,631$6,953,420
Other Land Buildings$781,938-$781,938

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$9,022,079$156,300▼ $74,187$366,500$8,737,692
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RosenbergHead of SchoolFT$342,218$263,006$605,224
Terry LeeAssociate Head of SchoolFT$291,250$121,295$412,545
Shirley DoxtadFinance Director (thru 5/11/16)FT$163,633$18,350$181,983
Taryn GroganDirector of AdmissionsFT$140,285$41,294$181,579
Kim SaxeInnovation Lab DirectorFT$135,457$18,653$154,110
Matt BermanWebsite Director/teacherFT$135,050$16,510$151,560
Amanda AlonzoUpper School Assistant Head of SchoolFT$129,877$11,226$141,103

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Devcon Construction INCConstruction690 GIBRALTAR DRIVE, Milpitas, CA 95035$3,419,481
Wl Butler Construction INCConstruction204 FRANKLIN STREET, Redwood City, CA 94063$3,182,997
FlikLunch Program & Catering ServicePO BOX 50196, Los Angeles, CA 90074$851,390
Cyo TransportationBus Transportation699 SERRAMONTE BLVD SUITE 210, Daly City, CA 94015$748,498
Leddy Maytum Stacy ArchitectsArchitectural Professional Services677 HARRISON STREET, San Francisco, CA 94107$669,150
Revenue and Support

Revenue Composition

Contributions and Grants
$5,610,002
Program Service Revenue
$30,512,337
Investment Income
$236,001
Other Revenue
$617,128
All Other Contributions
$4,946,154
Change in Net Assets
$-1,052,869

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 Traded56$1,038,002Fair Market Value
Other Non Cash Contri Table78$16,314Fair Market Value
Other Non Cash Contri Table9$6,271Fair Market Value
Other Non Cash Contri Table32$6,089Fair Market Value
Other Non Cash Contri Table5$5,032Fair Market Value
Other Non Cash Contri Table7$3,620Fair Market Value
Other Non Cash Contri Table4$1,126Fair Market Value
Other Non Cash Contri Table1$100Fair Market Value
Total Noncash Contributions192$1,076,554-

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,287,074
Revenue Not Reported on Financial Statements
$2,688,394
Revenue Not Reported on Form 990
$-289,919
Other Revenue Adjustments
$2,688,394
Total Revenue per Audited Statements
$33,997,155
Total Revenue per Form 990
$36,975,468
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,799,924
Other Expenses$17,540,019
Grants and Similar Amounts Paid$2,688,394
Total Fundraising Expense$614,196
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,255,132$2,118,366$413,515$13,787,013
Depreciation Depletion-$3,428,047-$3,428,047
Fees for Services Other$1,422,782$1,699,359$25,937$3,148,078
Other Employee Benefits$2,353,077$650,292$98,042$3,101,411
Grants to Domestic Individuals$2,688,394--$2,688,394
Interest-$1,566,749-$1,566,749
Information Technology$1,220,208--$1,220,208
All Other Expenses$594,579$342,029$44,840$981,448
Current Officers, Directors, Trustees, and Key Employees-$911,500-$911,500
Occupancy-$879,303-$879,303
Other Expenses$687,814--$687,814
Conferences and Meetings$568,506$102,936$8,306$679,748
Office Expenses$197,091$133,281$23,556$353,928
Insurance-$251,964-$251,964
Fees for Services Accounting-$63,350-$63,350
Fees for Services Legal-$61,724-$61,724
Advertising$18,241$3,857-$22,098
Fees for Service Investment Mgmnt Fees-$7,425-$7,425
Travel$1,255$737-$1,992
Total Functional Expenses$25,193,222$12,220,919$614,196$38,028,337

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$38,028,337
Expenses per Audited Statements$35,339,943
Total Expenses per Audited Statements$35,339,943
Expenses Not Reported on Financial Statements$2,688,394
Other Expense Adjustments$2,688,394
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$1,004,824

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$338,431
Central AmericaProgram ServicesEducational Class Trips00$322,389
EuropeProgram ServicesEducational Class Trips00$179,225
East Asia and the PacificProgram ServicesEducational Class Trips00$164,779
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,085,406
Fundraising Direct Expenses$468,278
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
The Nueva Benefit Auction$1,749,254$1,085,406$189,178$896,228
Total Events$1,749,254$1,085,406$468,278$617,128
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 controller for review. The controller forwarded the form 990 to the finance director and the associate head of school for review. The associate head of school forwarded the form 990 to the head of school, finance committee co-chairs, and board executive committee as well as all the board members for review prior to filing. All reviewers were encouraged to forward 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.

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
2017-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Rosenberg
Formed
1966
Legal Domicile
CA
Voting Board Members
29
Independent Board Members
28
Employees
267
Volunteers
316

Preparer

Firm
Hood & Strong Llp
Address
275 BATTERY ST STE 900, SAN FRANCISCO, CA 94111
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, nonprofit, independent day school, has served gifted and talented learners since 1967. Today, nueva serves over 800 students prek 12 and expects to grow to over 950 students in the next few years. Nueva is located in the neighboring towns of hillsborough and san mateo, equidistant between san francisco and silicon valley, serving six different counties throughout the bay area of northern california. A constructivist school, nueva is known for its distinctive inquiry-based interdisciplinary studies, project-based learning, and pioneering work in social-emotional learning and design thinking. The nueva community instills a passion for lifelong learning, fosters social and emotional acuity, and develops the imaginative mind. Our school has received the us department of education national blue ribbon award and the american institute of architects award for school design and sustainability, has been recognized as an apple distinguished program and appointed an ashoka changemaker school, co-founded the common ground speaker series, hosts the biennial innovative learning conference, 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 a reasonable premium over inflation annually.

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 2,688,394.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards netted against tuition 2,688,394.

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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/TitleTxt4SECRETARY
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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
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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/TitleTxt31FINANCE DIRECTOR (THRU 5/11/16)
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt33INNOVATION LAB DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34WEBSITE DIRECTOR/TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt35UPPER SCHOOL ASSISTANT HEAD OF SCHOOL
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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
2016Detailed filing. Detailed filing data is available for this year.$162$78.4$83.8$37.0$38.0$1.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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. 2016 filings • 501(c)3 • $100M-$250M nonprofits