Lakeside School
- Assets
- $426.5m
- Revenue
- $55.7m
- Investments
- $182.0m
- Employees
- 506
- Location
- Seattle, WA
- Founding
- 01/1952
- Data as of
- 06/2021
- EIN
- 91-0564971
Organization Overview
Lakeside School is located in Seattle, WA. The organization was established in 1952. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Lakeside School employed 506 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeside School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Lakeside School generated $55.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $48.8m during the year ending 06/2021. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE STUDENTS IN GRADES 5-12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKESIDE SCHOOL CONTINUES ITS FOCUS ON THE CORE ELEMENTS OF ITS MISSION: ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION, TO PROVIDE A WORLD CLASS EDUCATION FOR THE 21ST CENTURY. IN ADDITION TO ITS COMPREHENSIVE SCHOOL-YEAR PROGRAM, THE SCHOOL OFFERS A RICH ARRAY OF SUMMER ACADEMIC COURSES AND STEM AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP), WHICH SERVES RISING 6TH AND 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS BY PROVIDING GREATER ACCESS TO LAKESIDE'S CAMPUS AND OPPORTUNITIES.
AUXILIARY ENTERPRISES - LAKESIDE'S FOOD SERVICE FOCUSES ON SERVING STUDENTS AND EMPLOYEES HEALTHY FOOD AND BEVERAGE OPTIONS FOR BREAKFAST, LUNCH, AND SNACKS. ETHNICALLY DIVERSE FOOD CHOICES ARE OFTEN OFFERED AT LUNCH TO SUPPORT THE GLOBAL EDUCATION INITIATIVE. TO SUPPORT TOOLS FOR LEARNING, LAKESIDE SELLS LAPTOP COMPUTERS AND E-LEARNING MATERIALS TO STUDENTS' FAMILIES.
THE DOWNTOWN SCHOOL, A MICRO SCHOOL IN SEATTLE CENTER, OPENED IN FALL 2018. THE MODEL PRESERVES THE ESSENCE OF A LAKESIDE ACADEMIC EDUCATION AT APPROXIMATELY HALF THE TUITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kai Bynum Head Of School | Officer | 40 | $406,217 |
Bernie Noe Head Of School (thru 6/22) | 40 | $367,092 | |
Birage Tandon Asst Head Of School/cfo | Officer | 40 | $336,405 |
Daiga Galins Director Of Development | Officer | 40 | $228,376 |
Sue Belcher Head Of Downtown School | Officer | 40 | $209,345 |
Wellesley Wilson Director Of Admissions | 40 | $197,686 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fidalab Llc Covid Lab Services | 6/29/23 | $396,536 |
Us Bank Investment Management | 6/29/23 | $345,151 |
Us Foods Inc Food Services | 6/29/23 | $344,741 |
Fieldturf Usa Inc Turf Field Installation | 6/29/23 | $727,267 |
Knowing Technologies Llc Technology Services | 6/29/23 | $546,130 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,246,570 |
| Investment income | $2,028,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $399,209 |
| Net Gain/Loss on Asset Sales | $8,724,844 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,739,087 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $9,003,728 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,952,864 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,636,005 |
| Pension plan accruals and contributions | $1,208,071 |
| Other employee benefits | $2,711,867 |
| Payroll taxes | $1,460,545 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,692 |
| Fees for services: Accounting | $104,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,455,606 |
| Fees for services: Other | $1,707,101 |
| Advertising and promotion | $10,922 |
| Office expenses | $2,340,571 |
| Information technology | $653,442 |
| Royalties | $0 |
| Occupancy | $2,118,980 |
| Travel | $241,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,611 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,459,294 |
| Insurance | $309,920 |
| All other expenses | $0 |
| Total functional expenses | $48,809,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,170,628 |
| Savings and temporary cash investments | $8,709,508 |
| Pledges and grants receivable | $5,023,025 |
| Accounts receivable, net | $25,395,482 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,661 |
| Prepaid expenses and deferred charges | $1,336,040 |
| Investments—publicly traded securities | $138,118,813 |
| Investments—other securities | $181,970,764 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $129,848 |
| Total assets | $426,505,041 |
| Accounts payable and accrued expenses | $3,573,066 |
| Grants payable | $0 |
| Deferred revenue | $29,145,182 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $978,312 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $493,729 |
| Total liabilities | $34,190,289 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $392,314,752 |