Lakeside School
- Assets
- $394.2m
- Revenue
- $65.1m
- Investments
- $178.9m
- Employees
- 517
- Location
- Seattle, WA
- Founding
- 01/1952
- Data as of
- 06/2022
- 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 06/2022, Lakeside School employed 517 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 06/2022, Lakeside School generated $65.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $52.2m during the year ending 06/2022. While expenses have increased by 3.8% 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
2022
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 OF ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION TO PROVIDE A WORLD CLASS EDUCATION FOR THE 21ST CENTURY. IN ADDITION TO ITS COMPREHENSIVE SCHOOL-YEAR PROGRAM, IT OFFERS A RICH ARRAY OF SUMMER ACADEMIC COURSES AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP), WHICH SERVES RISING 6TH AND 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS TO PROVIDE 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 INITIATIVE.TO SUPPORT TOOLS FOR LEARNING, LAKESIDE SELLS TO ITS STUDENTS' LAPTOP COMPUTERS AND E-LEARNING MATERIALS.
THE DOWNTOWN SCHOOL - A MICRO-SCHOOL IN SEATTLE CENTER OPENED IN RESPONSE TO THE GROWING POPULATION OF THE REGION, AND THE INCREASINGLY UNAFFORDABLE COST OF INDEPENDENT SCHOOL EDUCATION. THE MODEL PRESERVES THE ESSENCE OF A LAKESIDE ACADEMIC EDUCATION AT APPROXIMATELY HALF OF THE COST BY OFFERING NO ATHLETICS OR GLOBAL PROGRAM, LEASING SPACE IN AN EXISTING BUILDING, AND USING THE "CITY AS A LAB" BY LEVERAGING OFF VARIOUS TEACHING RESOURCES IN DOWNTOWN SEATTLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernie Noe Head Of School | Officer | 40 | $655,185 |
Birage Tandon Asst Head Of School/cfo | Officer | 40 | $322,673 |
Felicia Wilks Asst Head Of School/upper School Director | Officer | 40 | $313,779 |
Daiga Galins Director Of Development | Officer | 40 | $236,099 |
Sue Belcher Head Of Downtown School | Officer | 40 | $201,756 |
Reem Abu Rahmeh Middle School Director | Officer | 40 | $193,428 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spencer Stuart Recruiting | 6/29/22 | $260,089 |
Allied Universal Security Services Security Services | 6/29/22 | $243,536 |
Durable Capital Onshore Fund Lp Investment Management | 6/29/22 | $478,074 |
Fidalab Llc Covid Lab Services | 6/29/22 | $1,168,230 |
Us Bank Investment Management | 6/29/22 | $221,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,162,931 |
| Noncash contributions included in lines 1a–1f | $1,092,920 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,162,931 |
| Total Program Service Revenue | $39,063,743 |
| Investment income | $3,189,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $394,484 |
| Net Gain/Loss on Asset Sales | $16,232,489 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,054,128 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,843,841 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,011,035 |
| Compensation of current officers, directors, key employees. | $1,284,048 |
| Compensation to disqualified persons | $30,553 |
| Other salaries and wages | $21,824,338 |
| Pension plan accruals and contributions | $1,221,162 |
| Other employee benefits | $2,900,800 |
| Payroll taxes | $1,638,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,623 |
| Fees for services: Accounting | $65,264 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,719,129 |
| Fees for services: Other | $1,653,254 |
| Advertising and promotion | $28,043 |
| Office expenses | $2,727,765 |
| Information technology | $580,872 |
| Royalties | $0 |
| Occupancy | $2,306,843 |
| Travel | $683,717 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $266,820 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,677,136 |
| Insurance | $373,336 |
| All other expenses | $19,886 |
| Total functional expenses | $52,217,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,680,115 |
| Savings and temporary cash investments | $6,057,848 |
| Pledges and grants receivable | $2,730,183 |
| Accounts receivable, net | $26,353,127 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,793 |
| Prepaid expenses and deferred charges | $1,884,443 |
| Net Land, buildings, and equipment | $58,529,118 |
| Investments—publicly traded securities | $112,773,397 |
| Investments—other securities | $178,923,077 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $198,420 |
| Total assets | $394,164,521 |
| Accounts payable and accrued expenses | $4,191,825 |
| Grants payable | $0 |
| Deferred revenue | $30,080,712 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,004,918 |
| 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 | $517,343 |
| Total liabilities | $35,794,798 |
| Net assets without donor restrictions | $113,612,362 |
| Net assets with donor restrictions | $244,757,361 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $394,164,521 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lakeside School has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
The Mclean Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,000 |
Youell Legacy Foundation Islamorada, FL PURPOSE: OPERATING EXPENSES | $2,000 |
Endowment Analysis
| Beg. Balance | $280,694,888 |
| Earnings | -$25,581,816 |
| Net Contributions | $2,332,710 |
| Other Expense | $8,482,110 |
| Ending Balance | $248,963,672 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakeside School Seattle, WA | $394,164,521 | $65,054,128 |
Catlin Gabel School Portland, OR | $84,016,930 | $34,455,336 |
Annie Wright Schools Tacoma, WA | $86,822,047 | $28,900,199 |
Bush School Seattle, WA | $78,878,554 | $33,051,809 |
The Northwest School Of The Arts Humanities And Environment Seattle, WA | $79,999,966 | $22,972,982 |
University Preparatory Academy Seattle, WA | $104,232,720 | $29,101,265 |
Bear Creek School Redmond, WA | $66,422,507 | $24,721,144 |
Eastside Preparatory School Kirkland, WA | $91,598,705 | $24,415,326 |
Southern Oregon Child And Family Council Inc Central Point, OR | $12,815,042 | $21,527,920 |
Charles Wright Academy Tacoma, WA | $63,747,007 | $20,214,757 |
Oregonians For Online Education Inc Scio, OR | $4,402,348 | $19,081,202 |
Head Start Of Lane County Springfield, OR | $2,527,429 | $16,579,600 |