Civic Intelligence

The Nueva School

990 • Fiscal year 2019 • EIN 94-1633387

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 26, 2020

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

62nd percentile

0.41x

Higher debt load relative to assets than 62% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

76th percentile

1.33x

Higher debt load relative to revenue than 76% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

81st percentile

22%

Higher net margin than 81% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

58th percentile

$554,027

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

68th percentile

10%

Faster asset growth than 68% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

17th percentile

-11%

Faster revenue growth than 17% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$213,694,521

Up $19,588,586 (+10%) from 2018

Net Assets

Up

$125,343,271

Up $15,007,068 (+14%) from 2018

Liabilities

Up

$88,351,250

Up $4,581,518 (+5.5%) from 2018

Revenue

Down

$66,457,809

Down $8,271,193 (-11%) from 2018

Expenses

Up

$51,740,494

Up $3,938,879 (+8.2%) from 2018

Net Income

Down

$14,717,315

Down $12,210,072 (-45%) from 2018

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

2019

Assets$213,694,521
Liabilities$88,351,250
Net Assets$125,343,271

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

2019

Revenue$66,457,809
Expenses$51,740,494
Net Income$14,717,315
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 26, 2020
Return Version
2018v3.2
Gross Receipts
$83,101,332
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 12th.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$123,923,142$135,384,658▲ $11,461,516
Savings and Temporary Cash Investments$15,690,443$47,666,269▲ $31,975,826
Accounts Receivable$10,724,453$12,085,136▲ $1,360,683
Investments in Publicly Traded Securities$9,685,712$11,326,578▲ $1,640,866
Pledges and Grants Receivable$9,296,688$2,644,299▼ $6,652,389
Prepaid Expenses and Deferred Charges$902,025$1,549,593▲ $647,568
Cash and Non-Interest-Bearing Accounts$22,092,349$1,088,922▼ $21,003,427
Total Assets$194,105,935$213,694,521▲ $19,588,586
Other Assets Total$1,791,123$1,949,066▲ $157,943
Liabilities
Deferred Revenue$36,512,753$40,571,651▲ $4,058,898
Tax Exempt Bond Liabilities$37,739,797$36,885,543▼ $854,254
Accounts Payable and Accrued Expenses$5,942,768$7,525,012▲ $1,582,244
Mortgage Notes Payable Secured by Investment Property$3,574,414$3,369,044▼ $205,370
Total Liabilities$83,769,732$88,351,250▲ $4,581,518
Net Assets / Fund Balance
Unrestricted Net Assets$65,535,887$64,787,807▼ $748,080
Temporarily Rstr Net Assets$36,334,312$50,568,822▲ $14,234,510
Permanently Rstr Net Assets$8,466,004$9,986,642▲ $1,520,638
Total Net Assets Fund Balance$110,336,203$125,343,271▲ $15,007,068
Total Liabilities and Net Assets / Fund Balance$194,105,935$213,694,521▲ $19,588,586

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$91,389,420$21,494,868$112,884,288
Land$22,249,513-$22,249,513
Other Land Buildings$19,823,819-$19,823,819
Equipment$1,921,906$7,048,035$8,969,941

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$10,347,251$1,520,638▲ $561,566-$12,429,455
2017$9,626,298$8,550▲ $712,403-$10,347,251
2016$8,737,692$6,550▲ $882,056-$9,626,298
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RosenbergHead of SchoolFT$430,000$124,027$554,027
Terry LeeAssociate Head of SchoolFT$347,500$106,690$454,190
Taryn GroganDirector of AdmissionsFT$158,710$64,800$223,510
Robbie KleinDirector of Institutional AdvancementFT$179,550$31,634$211,184
Stephen DunnUS Division HeadFT$155,262$55,734$210,996
Steve ColeDirector of Finance & AdministrationFT$190,000$4,728$194,728
Steve OsborneDirector of FacilitiesFT$121,600$54,812$176,412

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Devcon Construction INCConstruction690 GIBRALTAR DRIVE, Milpitas, CA 95035$7,921,882
Wl Butler Construction INCConstruction1629 MAIN STREET, Redwood City, CA 94063$5,306,237
Epicurean GroupCatering And Special Event Services111 MAIN STREET STE 3, Los Altos, CA 94022$1,599,226
Service By MedallionJanitorial Service411 CLYDE AVENUE, Mountain View, CA 94043$1,513,548
Leddy Maytum Stacy ArchitectsArchitectural Professional Service1940 BRYANT STREET, San Francisco, CA 94110$1,191,326
Revenue and Support

Revenue Composition

Contributions and Grants
$22,690,655
Program Service Revenue
$43,213,554
Investment Income
$15,257
Other Revenue
$538,343
All Other Contributions
$21,989,277
Change in Net Assets
$14,717,315

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 Traded50$9,286,770Fair Market Value
Other Non Cash Contri Table32$129,903Fair Market Value
Other Non Cash Contri Table7$57,275Fair Market Value
Other Non Cash Contri Table15$23,100Fair Market Value
Other Non Cash Contri Table137$18,204Fair Market Value
Other Non Cash Contri Table29$15,586Fair Market Value
Works of Art4$10,825Fair Market Value
Other Non Cash Contri Table6$7,180Fair Market Value
Other Non Cash Contri Table16$4,560Fair Market Value
Books and Publications-$4,439Fair Market Value
Other Non Cash Contri Table3$2,698Fair Market Value
Clothing and Household Goods-$1,840Fair Market Value
Total Noncash Contributions299$9,562,380-

Audited Revenue Reconciliation

Revenue per Audited Statements
$61,740,568
Revenue Not Reported on Financial Statements
$4,717,241
Revenue Not Reported on Form 990
$289,753
Other Revenue Adjustments
$4,717,241
Total Revenue per Audited Statements
$62,030,321
Total Revenue per Form 990
$66,457,809
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$24,276,649
Other Expenses$22,746,604
Grants and Similar Amounts Paid$4,717,241
Total Fundraising Expense$1,542,762
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,636,307$2,713,484$618,463$18,968,254
Fees for Services Other$976,924$3,380,712$426,250$4,783,886
Grants to Domestic Individuals$4,717,241--$4,717,241
Other Employee Benefits$2,983,591$405,128$120,505$3,509,224
Depreciation Depletion$2,340,957$1,042,714$95,289$3,478,960
All Other Expenses$1,003,118$690,773$163,733$1,857,624
Interest-$1,400,271-$1,400,271
Information Technology$1,333,331--$1,333,331
Occupancy$744,230$331,496$30,294$1,106,020
Other Expenses$1,103,503--$1,103,503
Current Officers, Directors, Trustees, and Key Employees-$1,065,000-$1,065,000
Conferences and Meetings$587,276$310,387$58,073$955,736
Pension Plan Contributions$306,670$413,126$14,375$734,171
Office Expenses$177,592$186,007$15,780$379,379
Travel$330,110$1,447-$331,557
Insurance-$277,928-$277,928
Fees for Services Legal-$61,020-$61,020
Fees for Services Accounting-$11,750-$11,750
Advertising$5,345$5,511-$10,856
Total Functional Expenses$37,900,978$12,296,754$1,542,762$51,740,494

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$51,740,494
Expenses per Audited Statements$47,023,253
Total Expenses per Audited Statements$47,023,253
Expenses Not Reported on Financial Statements$4,717,241
Other Expense Adjustments$4,717,241
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$1,305,926

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$517,150
Central America and the CaribbeanProgram ServicesEducational Class Trips00$403,237
East Asia and the PacificProgram ServicesEducational Class Trips00$205,084
Europe (including Iceland & Greenland)Program ServicesEducational Class Trips00$180,455
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$930,754
Fundraising Direct Expenses$392,411
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
The Nueva Benefit Auction$1,632,132$930,754$143,051$787,703
Total Events$1,632,132$930,754$392,411$538,343
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--$274,108

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 11B

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/finance director. Either the associate head of school/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 periodically 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 cal-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
2020-06-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Rosenberg
Formed
1966
Legal Domicile
CA
Voting Board Members
36
Independent Board Members
33
Employees
273
Volunteers
425

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 approximately 935 students prek-12. 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 prizewinning 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 4,717,241.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards netted against tuition 4,717,241.

Raw XML AppendixShowing 400 of 1,096 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/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR & TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE

Document Assets

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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
2019Detailed filing. Detailed filing data is available for this year.$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
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. 2019 filings • 501(c)3 • $100M-$250M nonprofits