Civic Intelligence

The Nueva School

990 • Fiscal year 2020 • EIN 94-1633387

Jul 01, 2019 to Jun 30, 2020 • Filed on May 13, 2021

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

60th percentile

0.41x

Higher debt load relative to assets than 60% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

77th percentile

1.52x

Higher debt load relative to revenue than 77% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

74th percentile

14%

Higher net margin than 74% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

71st percentile

$741,428

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

51st percentile

5.7%

Faster asset growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

23rd percentile

-8.9%

Faster revenue growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Flat

$225,889,762

Flat from 2020

Net Assets

Flat

$133,722,190

Flat from 2020

Liabilities

Flat

$92,167,572

Flat from 2020

Revenue

Flat

$60,556,880

Flat from 2020

Expenses

Flat

$52,240,109

Flat from 2020

Net Income

Flat

$8,316,771

Flat from 2020

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 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

2020

Assets$225,889,762
Liabilities$92,167,572
Net Assets$133,722,190

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 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

2020

Revenue$60,556,880
Expenses$52,240,109
Net Income$8,316,771
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 13, 2021
Return Version
2019v5.2
Gross Receipts
$63,270,143
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$135,384,658$148,204,176▲ $12,819,518
Savings and Temporary Cash Investments$47,666,269$44,101,255▼ $3,565,014
Accounts Receivable$12,085,136$13,789,429▲ $1,704,293
Investments in Publicly Traded Securities$11,326,578$11,879,910▲ $553,332
Pledges and Grants Receivable$2,644,299$3,264,682▲ $620,383
Prepaid Expenses and Deferred Charges$1,549,593$1,549,276▼ $317
Cash and Non-Interest-Bearing Accounts$1,088,922$1,442,598▲ $353,676
Total Assets$213,694,521$225,889,762▲ $12,195,241
Other Assets Total$1,949,066$1,658,436▼ $290,630
Liabilities
Deferred Revenue$40,571,651$43,018,119▲ $2,446,468
Tax Exempt Bond Liabilities$36,885,543$36,005,730▼ $879,813
Accounts Payable and Accrued Expenses$7,525,012$5,794,490▼ $1,730,522
Unsecured Notes Loans Payable$0$4,195,100▲ $4,195,100
Mortgage Notes Payable Secured by Investment Property$3,369,044$3,154,133▼ $214,911
Total Liabilities$88,351,250$92,167,572▲ $3,816,322
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$64,787,807$81,977,719▲ $17,189,912
Net Assets With Donor Restrictions$60,555,464$51,744,471▼ $8,810,993
Total Net Assets Fund Balance$125,343,271$133,722,190▲ $8,378,919
Total Liabilities and Net Assets / Fund Balance$213,694,521$225,889,762▲ $12,195,241

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$104,970,715$24,708,406$129,679,121
Land$22,249,513-$22,249,513
Other Land Buildings$19,627,160-$19,627,160
Equipment$1,356,788$7,713,965$9,070,753

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$12,429,455$822,515▲ $325,257-$13,577,227
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RosenbergHead of School (thru 6/30/20)FT$447,075$294,353$741,428
Terry LeeAssociate Head of SchoolFT$375,650$116,858$492,508
Taryn GroganDirector of AdmissionFT$156,227$80,158$236,385
John Gavin BradleyDirector of College CounselingFT$169,650$41,754$211,404
Stephen DunnUS Division HeadFT$159,551$44,266$203,817
Steve ColeDirector of Finance & AdministrationFT$197,700$4,920$202,620
Steve OsborneDirector of FacilitiesFT$109,912$58,845$168,757

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Wl ButlerConstruction ServicesPO BOX 6004, Petaluma, CA 94955$5,306,237
Epicurean GroupCatering & Special Events Services111 MAIN STREET 3, Los Altos, CA 94022$1,599,226
Service By MedallionJanitorial Services411 CLYDE AVENUE, Mountain View, CA 94043$1,513,547
Leddy Maytum Stacy ArchitectsConstruction - Architects1940 BRYANT STREET, San Francisco, CA 94110$1,191,327
Pro Guard Security ServicesSecurity Services300 MONTGOMERY STREET 813, San Francisco, CA 94104$436,551
Revenue and Support

Revenue Composition

Contributions and Grants
$13,833,480
Program Service Revenue
$45,616,486
Investment Income
$755,620
Other Revenue
$351,294
All Other Contributions
$12,878,240
Change in Net Assets
$8,316,771

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 Traded58$2,549,893Fair Market Value
Total Noncash Contributions58$2,549,893-

Audited Revenue Reconciliation

Revenue per Audited Statements
$55,581,615
Revenue Not Reported on Financial Statements
$4,975,265
Revenue Not Reported on Form 990
$62,148
Other Revenue Adjustments
$4,975,265
Total Revenue per Audited Statements
$55,643,763
Total Revenue per Form 990
$60,556,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,521,955
Other Expenses$20,742,889
Grants and Similar Amounts Paid$4,975,265
Total Fundraising Expense$1,549,195
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,878,460$3,089,149$563,138$19,530,747
Other Employee Benefits$4,051,892$1,131,841$228,050$5,411,783
Fees for Services Other$3,469,060$1,318,148$330,939$5,118,147
Grants to Domestic Individuals$4,975,265--$4,975,265
Depreciation Depletion$2,371,163$1,417,567$105,373$3,894,103
All Other Expenses$821,509$1,026,351$231,781$2,079,641
Information Technology$1,261,263$135,920$11,327$1,408,510
Interest$835,395$499,429$37,124$1,371,948
Current Officers, Directors, Trustees, and Key Employees-$1,085,000-$1,085,000
Occupancy$117,753$779,708-$897,461
Other Expenses$752,244--$752,244
Pension Plan Contributions$301,599$177,993$14,833$494,425
Office Expenses$217,381$201,664$10,461$429,506
Insurance$238,749$142,733$10,610$392,092
Conferences and Meetings$321,579$52,868-$374,447
Advertising$178,277-$5,559$183,836
Travel$26,805$53,594-$80,399
Fees for Services Accounting-$72,700-$72,700
Fees for Services Legal-$72,088-$72,088
Total Functional Expenses$39,434,161$11,256,753$1,549,195$52,240,109

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$52,240,109
Expenses per Audited Statements$47,264,844
Total Expenses per Audited Statements$47,264,844
Expenses Not Reported on Financial Statements$4,975,265
Other Expense Adjustments$4,975,265
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$584,247
Fundraising Direct Expenses$232,953
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Nueva Benefit Auction$1,539,487$584,247$135,334$448,913
Total Events$1,539,487$584,247$232,953$351,294
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 35% controlled entity
No
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 organization's accounting firm prepared a draft of the form 990 (using audited financials and other information provided by the organization) and provided to the controller for review. The director of finance and associate head of school reviewed then forwarded to the head of school, finance committee co-chairs, board executive committee, and then the rest of the board for review prior to filing. Questions were addressed prior to filing.

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 chair 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 chair 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 chair 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, cais, 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
2021-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Fertig
Formed
1966
Legal Domicile
CA
Voting Board Members
32
Independent Board Members
31
Employees
316
Volunteers
125

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 3

In march 2020, the school was required to suspend onsite operations due to pandemic. The school converted to a remote-only model which eventually lasted for the rest of the school year.

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 950 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 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 reclassified to expenses 4,975,265.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards reclassified to expenses 4,975,265.

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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/PersonNm30RICK HOLMSTROM
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IRS990/Form990PartVIISectionAGrp/PersonNm32DIANE ROSENBERG
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IRS990/Form990PartVIISectionAGrp/PersonNm34TARYN GROGAN
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IRS990/Form990PartVIISectionAGrp/PersonNm37STEVE COLE
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR & TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt5EX OFFICIO
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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
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30TRUSTEE

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
2020Detailed filing. Detailed filing data is available for this year.$226$92.2$134$60.6$52.2$8.32
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
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. 2020 filings • 501(c)3 • $100M-$250M nonprofits