Civic Intelligence

The Nueva School

990 • Fiscal year 2021 • EIN 94-1633387

Jul 01, 2020 to Jun 30, 2021 • Filed on May 03, 2022

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

61st percentile

0.37x

Higher debt load relative to assets than 61% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

1.34x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

72nd percentile

24%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

70th percentile

$702,574

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

35th percentile

6.9%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

47th percentile

9.6%

Faster revenue growth than 47% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$241,559,050

Up $15,669,288 (+6.9%) from 2020

Net Assets

Up

$152,662,384

Up $18,940,194 (+14%) from 2020

Liabilities

Down

$88,896,666

Down $3,270,906 (-3.5%) from 2020

Revenue

Up

$66,364,688

Up $5,807,808 (+9.6%) from 2020

Expenses

Down

$50,648,048

Down $1,592,061 (-3.0%) from 2020

Net Income

Up

$15,716,640

Up $7,399,869 (+89%) 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 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

2021

Assets$241,559,050
Liabilities$88,896,666
Net Assets$152,662,384

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

2021

Revenue$66,364,688
Expenses$50,648,048
Net Income$15,716,640
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 3, 2022
Return Version
2020v4.2
Gross Receipts
$68,277,428
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$148,204,176$158,411,185▲ $10,207,009
Savings and Temporary Cash Investments$44,101,255$44,023,449▼ $77,806
Investments in Publicly Traded Securities$11,879,910$17,127,451▲ $5,247,541
Accounts Receivable$13,789,429$14,949,261▲ $1,159,832
Pledges and Grants Receivable$3,264,682$3,654,917▲ $390,235
Prepaid Expenses and Deferred Charges$1,549,276$1,022,487▼ $526,789
Cash and Non-Interest-Bearing Accounts$1,442,598$780,174▼ $662,424
Total Assets$225,889,762$241,559,050▲ $15,669,288
Other Assets Total$1,658,436$1,590,126▼ $68,310
Liabilities
Deferred Revenue$43,018,119$45,274,330▲ $2,256,211
Tax Exempt Bond Liabilities$36,005,730$35,092,854▼ $912,876
Accounts Payable and Accrued Expenses$5,794,490$5,454,755▼ $339,735
Unsecured Notes Loans Payable$4,195,100$0▼ $4,195,100
Mortgage Notes Payable Secured by Investment Property$3,154,133$3,074,727▼ $79,406
Total Liabilities$92,167,572$88,896,666▼ $3,270,906
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$81,977,719$117,862,952▲ $35,885,233
Net Assets With Donor Restrictions$51,744,471$34,799,432▼ $16,945,039
Total Net Assets Fund Balance$133,722,190$152,662,384▲ $18,940,194
Total Liabilities and Net Assets / Fund Balance$225,889,762$241,559,050▲ $15,669,288

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$130,817,471$28,382,238$159,199,709
Land$22,249,513-$22,249,513
Equipment$1,025,837$8,281,429$9,307,266
Other Land Buildings$4,318,364-$4,318,364

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$13,577,227$1,555,166▲ $3,516,548-$18,648,941
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RosenbergFormer Head of SchoolFT$358,631$343,943$702,574
Terry LeeAssociate Head of SchoolFT$365,579$123,587$489,166
Lee FertigHead of SchoolFT$225,326$50,232$275,558
John Gavin BradleyDirector of College CounselingFT$175,986$43,968$219,954
Joseph CheesemanDirector of DevelopmentFT$180,202$25,308$205,510
Liza RaynalUpper School Division HeadFT$151,030$47,564$198,594
Taryn GroganDirector of AdmissionFT$169,972$16,706$186,678
Elizabeth RossiniDirector of Teaching & LearningFT$155,922$30,615$186,537

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Wl ButlerConstruction Services1629 MAIN STREET, Redwood, CA 94955$15,648,779
Service By MedallionJanitorial Services411 CLYDE AVENUE, Mountain View, CA 94043$1,458,148
Epicurean GroupCatering & Special Events Ser.111 MAIN STREET 3, Los Altos, CA 94022$922,809
Cagwin & DorwardLandscape Maintenance, Construction & TrPO BOX 6004, Petaluma, CA 94954$715,545
Pro Guard Security ServicesSecurity Services300 MONTGOMERY ST 813, San Francisco, CA 94104$698,813
Revenue and Support

Revenue Composition

Contributions and Grants
$18,444,560
Program Service Revenue
$47,295,064
Investment Income
$472,694
Other Revenue
$152,370
All Other Contributions
$13,016,332
Change in Net Assets
$15,716,640

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$1,272,164Fair Market Value
Total Noncash Contributions56$1,272,164-

Audited Revenue Reconciliation

Revenue per Audited Statements
$61,376,826
Revenue Not Reported on Financial Statements
$4,987,862
Revenue Not Reported on Form 990
$3,223,554
Other Revenue Adjustments
$4,987,862
Total Revenue per Audited Statements
$64,600,380
Total Revenue per Form 990
$66,364,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$27,127,572
Other Expenses$18,532,614
Grants and Similar Amounts Paid$4,987,862
Total Fundraising Expense$1,251,637
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,674,472$3,126,653$620,591$20,421,716
Other Employee Benefits$3,865,531$1,000,014$143,192$5,008,737
Grants to Domestic Individuals$4,987,862--$4,987,862
Fees for Services Other$2,822,898$1,388,928$223,301$4,435,127
Depreciation Depletion$2,493,187$1,670,695$91,914$4,255,796
All Other Expenses$1,141,152$764,691$42,070$1,947,913
Occupancy$966,532$647,677$35,632$1,649,841
Information Technology$811,227$543,606$29,907$1,384,740
Interest$755,486$506,254$27,852$1,289,592
Current Officers, Directors, Trustees, and Key Employees-$1,167,093-$1,167,093
Pension Plan Contributions$310,507$208,072$11,447$530,026
Advertising$148,948$129,275$9,612$287,835
Office Expenses$148,024$113,857$9,591$271,472
Insurance$157,421$105,489$5,803$268,713
Other Expenses$251,839--$251,839
Conferences and Meetings$77,582$14,156$725$92,463
Fees for Services Accounting-$68,050-$68,050
Fees for Services Legal-$37,868-$37,868
Total Functional Expenses$37,904,033$11,492,378$1,251,637$50,648,048

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$50,648,048
Expenses per Audited Statements$45,660,186
Total Expenses per Audited Statements$45,660,186
Expenses Not Reported on Financial Statements$4,987,862
Other Expense Adjustments$4,987,862
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$261,915
Fundraising Direct Expenses$109,545
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefit Auction$1,495,043$261,915$31,425$230,490
Total Events$1,495,043$261,915$109,545$152,370
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 and then forwarded to the head of the school, finance committee co-chairs, board executive committee, and then the rest of the board reviewed 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
2022-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Fertig
Formed
1966
Legal Domicile
CA
Voting Board Members
30
Independent Board Members
29
Employees
311
Volunteers
120

Preparer

Firm
Hood & Strong Llp
Address
275 BATTERY STREET STE 900, SAN FRANCISCO, CA 94111
Preparer
Maga E Kisriev
Phone
4157810793
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

We transitioned in august and in september 2020. Pk started onsite in person, followed by other parts of lower school, and then eventually middle school and upper school.

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 960 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 4,987,862.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid awards netted against tuition 4,987,862.

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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/PersonNm28SUSAN BARNES
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IRS990/Form990PartVIISectionAGrp/PersonNm32JOHN GAVIN BRADLEY
IRS990/Form990PartVIISectionAGrp/PersonNm33JOSEPH CHEESEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm34TARYN GROGAN
IRS990/Form990PartVIISectionAGrp/PersonNm35ELIZABETH ROSSINI
IRS990/Form990PartVIISectionAGrp/PersonNm36LIZA RAYNAL
IRS990/Form990PartVIISectionAGrp/PersonNm37DIANE ROSENBERG
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30ASSOCIATE HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt31HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR OF COLLEGE COUNSELING
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR OF ADMISSION

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
2021Detailed filing. Detailed filing data is available for this year.$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
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. 2021 filings • 501(c)3 • $100M-$250M nonprofits