Civic Intelligence

Windward School

990 • Fiscal year 2021 • EIN 95-2701337

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 13, 2022

11350 Palms BlvdLos Angeles, CA 90066

(310) 391-7127

Siviq Scores

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

Liabilities / Assets

69th percentile

0.49x

Higher debt load relative to assets than 69% of similar nonprofits.

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

Liabilities / Revenue

79th percentile

1.44x

Higher debt load relative to revenue than 79% of similar nonprofits.

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

Net Margin

53rd percentile

11%

Higher net margin than 53% of similar nonprofits.

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

Top Officer Pay

81st percentile

$1,019,383

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

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

Asset Growth

92nd percentile

41%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

17th percentile

-5.4%

Faster revenue growth than 17% of similar nonprofits.

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

Assets

Up

$102,761,001

Up $29,709,663 (+41%) from 2020

Net Assets

Up

$52,374,571

Up $8,337,978 (+19%) from 2020

Liabilities

Up

$50,386,430

Up $21,371,685 (+74%) from 2020

Revenue

Down

$35,004,777

Down $1,982,076 (-5.4%) from 2020

Expenses

Down

$31,195,850

Down $1,968,651 (-5.9%) from 2020

Net Income

Down

$3,808,927

Down $13,425 (-0.4%) from 2020

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $52,945,592Liabilities 2010: $31,253,554Net Assets 2010: $21,692,0382010Assets 2011: $56,442,672Liabilities 2011: $33,181,629Net Assets 2011: $23,261,0432011Assets 2012: $60,144,328Liabilities 2012: $33,815,739Net Assets 2012: $26,328,5892012Assets 2013: $59,504,676Liabilities 2013: $32,308,937Net Assets 2013: $27,195,7392013Assets 2014: $63,496,424Liabilities 2014: $33,611,108Net Assets 2014: $29,885,3162014Assets 2015: $66,423,570Liabilities 2015: $35,055,496Net Assets 2015: $31,368,0742015Assets 2016: $65,875,676Liabilities 2016: $35,326,407Net Assets 2016: $30,549,2692016Assets 2017: $64,323,932Liabilities 2017: $31,326,081Net Assets 2017: $32,997,8512017Assets 2018: $68,325,881Liabilities 2018: $31,791,851Net Assets 2018: $36,534,0302018Assets 2019: $69,472,128Liabilities 2019: $29,819,879Net Assets 2019: $39,652,2492019Assets 2020: $73,051,338Liabilities 2020: $29,014,745Net Assets 2020: $44,036,5932020Assets 2021: $102,761,001Liabilities 2021: $50,386,430Net Assets 2021: $52,374,5712021Assets 2022: $106,329,646Liabilities 2022: $52,742,095Net Assets 2022: $53,587,5512022Assets 2023: $114,509,325Liabilities 2023: $57,548,816Net Assets 2023: $56,960,5092023

Highlighted filing

2021

Assets$102,761,001
Liabilities$50,386,430
Net Assets$52,374,571

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $17,291,9952010Expenses 2011: $18,816,3782011Revenue 2012: $22,490,865Expenses 2012: $19,407,443Net Income 2012: $3,083,4222012Expenses 2013: $21,221,5062013Revenue 2014: $24,698,890Expenses 2014: $23,603,759Net Income 2014: $1,095,1312014Revenue 2015: $27,707,795Expenses 2015: $26,508,428Net Income 2015: $1,199,3672015Revenue 2016: $29,532,834Expenses 2016: $29,645,379Net Income 2016: -$112,5452016Revenue 2017: $31,787,194Expenses 2017: $31,076,910Net Income 2017: $710,2842017Revenue 2018: $34,244,020Expenses 2018: $31,533,082Net Income 2018: $2,710,9382018Revenue 2019: $35,270,742Expenses 2019: $32,674,943Net Income 2019: $2,595,7992019Revenue 2020: $36,986,853Expenses 2020: $33,164,501Net Income 2020: $3,822,3522020Revenue 2021: $35,004,777Expenses 2021: $31,195,850Net Income 2021: $3,808,9272021Revenue 2022: $41,804,232Expenses 2022: $37,944,120Net Income 2022: $3,860,1122022Revenue 2023: $44,122,579Expenses 2023: $41,310,487Net Income 2023: $2,812,0922023

Highlighted filing

2021

Revenue$35,004,777
Expenses$31,195,850
Net Income$3,808,927
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 13, 2022
Return Version
2020v4.2
Gross Receipts
$35,525,880
Mission and Program Overview

Mission

Windward school is a dynamic college-preparatory school that challenges each student to achieve excellence in a nurturing, inclusive community. Windward teachers, parents, and administrators work together to inspire our students to be responsible, caring, well informed, ethical, prepared, and well balanced young adults.

Windward is an independent co-educational day school for grades 7 to 12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,233,339$32,906,587▼ $1,326,752
Investments Other Securities$13,036,855$15,302,311▲ $2,265,456
Investments in Publicly Traded Securities$4,622,632$6,761,312▲ $2,138,680
Cash and Non-Interest-Bearing Accounts$6,350,878$5,335,507▼ $1,015,371
Pledges and Grants Receivable$5,853,353$4,166,830▼ $1,686,523
Savings and Temporary Cash Investments$1,365,165$2,087,010▲ $721,845
Prepaid Expenses and Deferred Charges$531,520$456,897▼ $74,623
Other Notes and Loans Receivable, Net$297,492$309,934▲ $12,442
Accounts Receivable$183,746$162,914▼ $20,832
Total Assets$73,051,338$102,761,001▲ $29,709,663
Other Assets Total$6,576,358$35,271,699▲ $28,695,341
Liabilities
Tax Exempt Bond Liabilities$18,094,496$19,498,339▲ $1,403,843
Other Liabilities$0$19,168,252▲ $19,168,252
Deferred Revenue$9,095,772$9,251,514▲ $155,742
Accounts Payable and Accrued Expenses$1,824,477$2,300,085▲ $475,608
Mortgage Notes Payable Secured by Investment Property$0$168,240▲ $168,240
Total Liabilities$29,014,745$50,386,430▲ $21,371,685
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$27,383,772$34,407,820▲ $7,024,048
Net Assets With Donor Restrictions$16,652,821$17,966,751▲ $1,313,930
Total Net Assets Fund Balance$44,036,593$52,374,571▲ $8,337,978
Total Liabilities and Net Assets / Fund Balance$73,051,338$102,761,001▲ $29,709,663

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$19,178,143$18,972,303$38,150,446
Equipment$6,575,427$6,504,855$13,080,282
Buildings$5,366,400$5,308,802$10,675,202
Land$1,786,617-$1,786,617
Other Assets Org$19,168,250--
Other Securities$15,302,311--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$864,761-▲ $219,130$4,211$1,079,680
2019$843,464-▲ $25,354$4,057$864,761
2018$818,638-▲ $28,636$3,810$843,464
2017$772,296-▲ $50,000$3,658$818,638
2016$694,969-▲ $80,841$3,514$772,296
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tom GilderHead of School & Board SecretaryFT$646,021$373,362$1,019,383
Dawn BarrettChief Operating OfficerFT$295,192$28,988$324,180
Eric MandelAssistant Head of School, Director of the MsFT$191,156$22,810$213,966
Sharon PearlineDirector of AdmissionsFT$187,916$22,488$210,404
Kevin NewmanAssistant Head of School, Director of Collegiate DivisionFT$182,164$22,187$204,351
Kevin NewmanAssistant Head of School, Director of Collegiate Di-$182,164$22,187$204,351
Ayn FaubertDirector of FinanceFT$177,990$21,860$199,850
Julia ColeyAssistant Head of School, Director of Prep DivisionFT$177,144$22,187$199,331
Julia ColeyAssistant Head of School, Director of Prep Divi-$177,144$22,187$199,331
Kevin KloekerTrustee, TeacherFT$106,484$16,746$123,230

Board Members and Trustees

NameTitle
Alex KwitBoard Chair
Ted FikreVice Chair
Andrew SchwartzbergTrustee
Ann GianopulousTrustee
Brian WeitmanTrustee
Debbie MarkilesTrustee
Ed GargiuloTrustee
Elliot GordonTrustee
Emily Kovner MossTrustee
Jordan KaplanTrustee
Karol WatsonTrustee
Maria Mancuso-gershTrustee
Maxine StrattonTrustee
Michelle TaubTrustee
Nancy GlaserTrustee
Neil WertliebTrustee
Nora MaloneTrustee
Pamela MassTrustee
Perrie WeinerTrustee
Raj ShourieTrustee
Rich PachulskiTrustee
Erica TukiainenTrustee (start 07/01/20)
Gareth AstenTrustee (start 07/01/20)
Steve TrillingTrustee (start 07/01/20)

Highest Paid Contractors

ContractorServicesLocationCompensation
Driver SpgConstruction468 N ROSEMEAD BLVD, Pasadena, CA 91107$5,180,035
Chief Security LLCSecurity1055 W 7TH ST 33RD FLOOR, Los Angeles, CA 90017$208,088
Uniserve Facilities Svcs CorpCustodial Service2363 S ATLANTIC BLVD, Commerce, CA 90040$168,428
Searock Stafford Cm INCConstruction690 E GREEN ST 201, Pasadena, CA 91101$113,509
Pro Sound INCAdvertising11060 RANDALL STREET, Sun Valley, CA 91352$100,360
Revenue and Support

Revenue Composition

Contributions and Grants
$4,873,895
Program Service Revenue
$30,109,265
Investment Income
$19,324
Other Revenue
$2,293
All Other Contributions
$4,873,895
Change in Net Assets
$3,808,927

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 Traded26$312,128Fair Market Value (FMV)
Total Noncash Contributions26$312,128-

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,354,344
Revenue Not Reported on Financial Statements
$2,650,433
Revenue Not Reported on Form 990
$4,529,051
Other Revenue Adjustments
$2,576,965
Total Revenue per Audited Statements
$36,883,395
Total Revenue per Form 990
$35,004,777
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$20,311,037
Other Expenses$8,307,848
Grants and Similar Amounts Paid$2,576,965
Total Fundraising Expense$916,083
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,738,491$773,167$398,170$14,909,828
Grants to Domestic Individuals$2,576,965--$2,576,965
Occupancy$2,217,872$228,150$114,075$2,560,097
Other Employee Benefits$2,105,353$167,401$78,729$2,351,483
Depreciation Depletion$1,819,286$101,072$101,072$2,021,430
Current Officers, Directors, Trustees, and Key Employees$795,342$278,229$120,113$1,193,684
Payroll Taxes$1,044,989$83,494$11,824$1,140,307
Pension Plan Contributions$715,735--$715,735
Office Expenses$676,883$6,542$21,555$704,980
Interest$610,159$29,875$29,875$669,909
Information Technology$264,409$9,760$5,553$279,722
Insurance$229,339$12,562$12,562$254,463
Conferences and Meetings$235,205-$1,977$237,182
Travel$203,697$9,599$73$213,369
Other Expenses$136,872$150$1,969$138,991
Advertising$107,814-$11,710$119,524
Fees for Services Legal-$91,434-$91,434
Fees for Service Investment Mgmnt Fees-$73,468-$73,468
Fees for Services Accounting-$55,440-$55,440
Royalties$1,561--$1,561
Total Functional Expenses$28,359,424$1,920,343$916,083$31,195,850

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$31,195,850
Expenses per Audited Statements$28,545,417
Total Expenses per Audited Statements$28,545,417
Expenses Not Reported on Financial Statements$2,650,433
Other Expense Adjustments$2,576,965
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$3,115,100

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
Yes
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments-00$3,115,100
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contractual Unearned Tuition and Fees$19,168,252

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Municipal Finance Authority2020-07-15$24,568,650Capital expansion and refinancing prior debt

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,568,650$17,996,523$4,833,902$159,931

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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
No
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 director of finance, the chief operating officer, the head of school, the chair of the finance and operations committee and the chair of the board of trustees review the 990 forms prior to submitting them to the irs.

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

The school's board of trustees has adopted a conflict of interest policy to ensure that board actions are adopted free from any actual or appearance of conflict of interest. Trustees are expected to use common sense and good judgement in the exercise of their duties. While this list is not exhaustive, the following are common examples that could give rise to a potential or actual conflict of interest. (a) a trustee or a member of the trustee's immediate family is related to any school employee or relative of an employee by blood, marriage or domestic partnership which employee or relative could be impacted by a matter to be considered by the board. (b) a trustee, or any entity by which the trustee or a member of the trustee's immediate family is employed or in which the trustee has a direct or indirect financial interest, stands to benefit from a school transaction, including without limitation receiving payment from the school for any contract, good, or service, other than in reimbursement for reasonable expenses incurred on behalf of the school. (c) a trustee, or a member of the trustee's immediate family, has a real property interest that could be impacted(either positively or negatively) by the school's operations following disclosure of an actual or potential conflict of interest, the board chair shall determine whether an actual conflict of interest exists. If so, the chair shall refer the matter to the executive committee which shall determine how best to protect the school's interest. The chair of the board shall disclose his or her own actual or potential conflicts of interest to the remainder of the executive committee, who shall determine whether an actual conflict of interest exists. If so, refer the matter to the executive committee, which shall determine how best to protect the school's interest. Each trustee must sign and date this policy annually, at or before the first fall board meeting. In addition, key employees participate in an annual conflict of interest sign-off. A trustee who is involved in a potential conflict of interest is not allowed to vote on any matters related with the conflict of interest.

Form 990, Part VI, Section B, Line 15A

The school uses the benchmarking tool provided by the nais to compare and evaluate the compensation packages of similar positions in the area. In addition, the school hires an independent consultant that evaluates the compensation packages of several heads of school in the area. The executive committeee reviews both reports, evaluates the results and sets the new compensation for the head of school. Head of school compensation was reviewed in the 2017 school year by the executive committee. The head of school reviews, evaluates and decides the compensation packages of key employees.

Form 990, Part VI, Section C, Line 19

The school's governing documents, conflict of interest policy and financial statements are available to the public upon request. The school makes its form 990 available for public inspection without charge during regular business hours at the business office.

Filing and Contact Details

Filer

Filer Name
Windward School
EIN
95-2701337
Phone
3103917127
Address
11350 PALMS BLVD, LOS ANGELES, CA 90066

Signing Officer

Name
Thomas Gilder
Title
Head of School & Board Secretary
Phone
3103917127
Signed
2022-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Gilder
Formed
1971
Legal Domicile
CA
Voting Board Members
26
Independent Board Members
24
Employees
257
Volunteers
120

Preparer

Firm
Armanino Llp
Address
11766 WILSHIRE BLVD 9TH FLOOR, LOS ANGELES, CA 90025
Preparer
Katy Brown
Phone
3104784148
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

This process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The school is a nonprofit corporation defined in section 501(c)(3) of the internal revenue code and is, therefore, exempt from federal income taxation under section 501(a) of the code. The school is also exempt from state income taxation under 23701(d) of the california revenue and taxation code. The school has evaluated its current tax positions and has concluded that as of june 30, 2021, the school does not have any significant uncertain tax positions for which a reserve would be necessary.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Tuition assistance 2,576,965.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Tuition assistance 2,576,965.

Raw XML AppendixShowing 400 of 945 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/Desc0WINDWARD SCHOOL IS A SUPPORTIVE, NURTURING COMMUNITY WITH A DIVERSE STUDENT BODY, CLASSES AVERAGING 16 STUDENTS, AND A STUDENT-FACULTY RATIO OF APPROXIMATELY 8:1. WINDWARD ALLOCATES APPROXIMATELY $2.3 MILLION EACH YEAR TO FINANCIAL AID. THE SCHOOL PROVIDES A VARIED AND CHALLENGING ACADEMIC PROGRAM AND OPPORTUNITIES FOR STUDENTS TO PARTICIPATE IN ATHLETICS, THE ARTS, AND SERVICE LEARNING. ALL WINDWARD STUDENTS ARE REQUIRED TO FULFILL A 40-HOUR COMMITMENT OF SERVICE LEARNING BEFORE GRADUATION. THE WINDWARD SCHOOL CURRICULUM OFFERS STUDENTS A CHOICE OF MORE THAN 100 DIFFERENT COURSES, INCLUDING A LARGE NUMBER OF ADVANCED PLACEMENT COURSES. THE SCHOOL PROVIDES EXCELLENT PROGRAMS IN ENGLISH, MATHEMATICS, WORLD LANGUAGES, HISTORY, SCIENCE, AND THE VISUAL AND PERFORMING ARTS, AS WELL AS SPECIALIZED INTERDISCIPLINARY PROGRAMS FOR STEAM AND GLOBAL SCHOLARS. CO-CURRICULAR ACTIVITIES, SUCH AS CLUBS, FIELD TRIPS AND ATHLETIC CONTESTS, ALSO FIGURE PROMINENTLY IN THE WINDWARD EXPERIENCE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE (START 07/01/20)
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE (START 07/01/20)
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE (START 07/01/20)
IRS990/Form990PartVIISectionAGrp/TitleTxt24HOS & BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE, TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt26CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt27ASSISTANT HOS, DIR. OF THE MS
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt29ASSISTANT HOS, DIRECTOR OF PREP DIVISION
IRS990/Form990PartVIISectionAGrp/TitleTxt30ASSISTANT HOS, DIR. OF COLLEGIATE DIVISION
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR OF ADMISSIONS
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$115$57.5$57.0$44.1$41.3$2.81
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$52.7$53.6$41.8$37.9$3.86
2021Detailed filing. Detailed filing data is available for this year.$103$50.4$52.4$35.0$31.2$3.81
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.1$29.0$44.0$37.0$33.2$3.82
2019Summary only. Only limited summary data is available for this year.$69.5$29.8$39.7$35.3$32.7$2.60
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.3$31.8$36.5$34.2$31.5$2.71
2017Summary only. Only limited summary data is available for this year.$64.3$31.3$33.0$31.8$31.1$0.71
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.9$35.3$30.5$29.5$29.6$0.11
2015Summary only. Only limited summary data is available for this year.$66.4$35.1$31.4$27.7$26.5$1.20
2014Detailed filing. Detailed filing data is available for this year.$63.5$33.6$29.9$24.7$23.6$1.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.5$32.3$27.2$21.2
2012Summary only. Only limited summary data is available for this year.$60.1$33.8$26.3$22.5$19.4$3.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.4$33.2$23.3$18.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.9$31.3$21.7$17.3