Albuquerque Academy FY2020 filing

Tax-deductible

Albuquerque, NM501(c)(3)Since 1955EducationEIN 85-0129165Revenue $33.0M in FY2020

On file with the IRSaa.edu6400 Wyoming Blvd Ne, 87109-3843 · Albuquerque, NMTax-exempt since Nov 1972School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$1.2M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $35K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $8K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$70.9M
50% of total assets
Looks good: liabilities are 50% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$33.0M
Spent
$33.2M
To programs
85%
Net assets
$71.5M
By yearFY2020–FY2024
Revenue
$33.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$33.0M
FY2021$34.2M
FY2022$36.2M
FY2023$34.4M
FY2024$38.1M
FY2024$45.5M
Expenses
$33.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$33.2M
FY2021$32.2M
FY2022$35.6M
FY2023$37.2M
FY2024$37.9M
FY2024$44.6M
Net assets
$71.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$71.5M
FY2021$94.5M
FY2022$77.6M
FY2023$80.0M
FY2024$86.3M
FY2024$92.9M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1972.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $28.3M Management & general 13% · $4.3M Fundraising 2% · $586K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

32 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Head of School
$361,157Pt VII · Sec A
Chief Financial Officer
$202,500Pt VII · Sec A
Business Manager
$141,196Pt VII · Sec A
Assistant Head of School
$133,508Pt VII · Sec A
Campaign Director
$129,071Pt VII · Sec A
Athletics Director
$120,232Pt VII · Sec A
Head of 10/12 Division
$113,160Pt VII · Sec A
$0Pt VII · Sec A

Julianne Puente’s $367K as Head of School is at the 76th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Julianne Puente$367,203$361,340$352,137$345,838$239,993—
Andrew Watson————$311,914$361,157
Bruce Orem——$101,538$215,572$227,354$202,500
Shawn Ricketts$197,930$192,866$114,915———
Stephanie Levy-Lipkowtiz—$142,804————
Stephanie Levy-Lipkowitz$141,717—$140,473$137,418$141,036$133,508
Nancy Parker—————$141,196
Christine Lenhart$137,927$135,769$129,046$120,569$125,263$113,160

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates an independent, coeducational day school and a six-week summer program to provide diverse educational opportunities for local youth.

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Provided by the organization

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3 programs · $28.0M · in their own filed words · FY2019
01

Albuquerque Academy is a nationally-recognized independent, college preparatory day school that serves a diverse student body in grades six through twelve. The school offers educational programs that promote a passion for lifelong learning, foster creativity and connection, and encourage community service. See Schedule O.

$25.6Mprogram expense
02

Albuquerque Academy has partnered with Sage Dining Services to provide food service to the on-campus dining halls. Sage focuses on safety, quality service, community, nutrition, education, sustainability, and delicious food made from scratch using seasonal and locally-sourced ingredients when available. See Schedule O.

$1.3Mprogram expense
03

Albuquerque Academy normally offers a six week summer program. Due to COVID related restrictions, 2020 summer camps and enrichment courses were cancelled. Most of the reported expense and revenue is related to the July 2019 summer program. See Schedule O.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$8K
Grants paid · 1 grant · $5.3M · 2024–2024
Unitemized GrantFY2024$5,286,928

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$33.0M
Ln 12
Fees for servicesLn 2g$25.3M
Investment incomeLn 3$4.0M
Gifts and grantsLn 1h$2.8M
Money outPt IX
$33.2M
Ln 25
Programscol B$28.3M
Managementcol C$4.3M
Fundraisingcol D$586K
Owns and owesPt X
$71.5M
net assets · Ln 32
Cash and savingsLn 1–2$5.2M
Total assetsLn 16$142.4M
LiabilitiesLn 26$70.9M
PeoplePt VI, VII
32
listed · VII A
PaidVII A7
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Noncash giftsLn 1g$20K
Fees for servicesLn 2g$25.3M
Investment incomeLn 3$4.0M
Other incomeLn 4–11$1.0M
Gains on assetsLn 7$1.9M
Total revenueLn 12$33.0M
Assets in detailPt X, end of year
CashLn 1$661K
SavingsLn 2$4.6M
Cash and savings togetherLn 1–2$5.2M
InvestmentsLn 11–13$44.8M
Land, buildings, equipmentLn 10c$27.7M
Other assetsLn 15$40.8M
Total assetsLn 16$142.4M
LiabilitiesLn 26$70.9M
Net assetsLn 32$71.5M
OperationsPt I, VI
EmployeesI 5858
VolunteersI 6359
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$6.4M$5.2M
InvestmentsLn 11–13$47.7M$44.8M
Land, buildings, equipmentLn 10c$24.2M$27.7M
Total assetsLn 16$143.2M$142.4M
LiabilitiesLn 26$68.0M$70.9M
Net assetsLn 32$75.3M$71.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$760K$405K$268K$87K
Pay of disqualified personsLn 6$8K$8K
Other salaries and wagesLn 7$16.5M$14.5M$1.6M$337K
Pension plan contributionsLn 8$864K$760K$84K$20K
Other employee benefitsLn 9$3.4M$3.2M$145K$2K
Payroll taxesLn 10$1.2M$1.1M$111K$25K
Legal feesLn 11b$185K$185K
Accounting feesLn 11c$138K$138K
Investment management feesLn 11f$472K$472K
Other fees for servicesLn 11g$683K$539K$138K$6K
Advertising and promotionLn 12$134K$34K$93K$6K
Office expensesLn 13$990K$757K$209K$24K
Information technologyLn 14$506K$272K$188K$47K
OccupancyLn 16$1.2M$1.0M$161K$1K
TravelLn 17$452K$334K$117K$2K
Conferences, conventions and meetingsLn 19$208K$97K$87K$24K
InterestLn 20$1.8M$1.7M$145K$2K
Depreciation, depletion and amortizationLn 22$2.0M$1.9M$147K$3K
InsuranceLn 23$367K$330K$37K$462
Other expenses (24a–d)Ln 24$1.4M$1.4M
Total functional expensesLn 25$33.2M$28.3M$4.3M$586K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $38.1M$37.9M$232K$86.3M 990 PDF
FY2023 $34.4M$37.2M−$2.8M$80.0M 990 PDF
FY2022 $36.2M$35.6M$657K$77.6M 990 PDF
FY2021 $34.2M$32.2M$2.0M$94.5M 990 PDF
FY2020 Viewing $33.0M$33.2M−$256K$71.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $32,991,733 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,120,342$2,754,101
I-9 Program service revenuePrior year $26,393,445$25,266,296
I-10 Investment incomePrior year $4,708,568$3,952,166
I-11 Other revenuePrior year $6,860,764$1,019,170
I-12 Total revenuePrior year $40,083,119$32,991,733
I-13 Grants and similar amounts paidPrior year $23,375$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $23,429,263$22,633,024
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,002,287$10,615,185
I-18 Total expensesPrior year $34,454,925$33,248,209
I-19 Revenue less expensesPrior year $5,628,194−$256,476
Part VI · Governance 25 of 25 board members independent, no flags
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $32,991,733 across 10 lines filed
Lines not itemized here account for $680,262 of total revenue; see the IRS return.
VIII-1a Federated campaigns$49,116
VIII-1d Related organizations$1,357,499
VIII-1f All other contributions, gifts and grants$1,347,486
VIII-1g Noncash contributions (included above)$19,615
VIII-1h Total contributions, gifts and grants$2,754,101
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $24,811,270 · Unrelated business $0$24,811,270
VIII-3 Investment incomeUnrelated business $47,570 · Excluded from tax $2,011,898$2,059,468
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,892,698$1,892,698
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $793,934$793,934
VIII-12 Total revenueRelated to mission $25,491,532 · Unrelated business $47,570 · Excluded from tax $4,698,530$32,991,733
Part IX · Statement of functional expenses $33,248,209 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $404,839 · Management $268,478 · Fundraising $86,751$760,068
IX-6 Pay of disqualified personsPrograms $8,321$8,321
IX-7 Other salaries and wagesPrograms $14,514,296 · Management $1,600,337 · Fundraising $336,978$16,451,611
IX-8 Pension plan contributionsPrograms $759,977 · Management $84,250 · Fundraising $19,754$863,981
IX-9 Other employee benefitsPrograms $3,211,867 · Management $145,490 · Fundraising $1,889$3,359,246
IX-10 Payroll taxesPrograms $1,053,226 · Management $111,143 · Fundraising $25,428$1,189,797
IX-11b Legal feesManagement $184,854$184,854
IX-11c Accounting feesManagement $138,389$138,389
IX-11f Investment management feesManagement $471,865$471,865
IX-11g Other fees for servicesPrograms $539,478 · Management $138,376 · Fundraising $5,597$683,451
IX-12 Advertising and promotionPrograms $34,400 · Management $93,192 · Fundraising $6,249$133,841
IX-13 Office expensesPrograms $756,755 · Management $208,522 · Fundraising $24,275$989,552
IX-14 Information technologyPrograms $271,829 · Management $187,655 · Fundraising $46,511$505,995
IX-16 OccupancyPrograms $1,005,083 · Management $160,843 · Fundraising $1,410$1,167,336
IX-17 TravelPrograms $333,575 · Management $116,775 · Fundraising $1,737$452,087
IX-19 Conferences, conventions and meetingsPrograms $97,395 · Management $87,074 · Fundraising $23,595$208,064
IX-20 InterestPrograms $1,701,115 · Management $144,753 · Fundraising $2,387$1,848,255
IX-22 Depreciation, depletion and amortizationPrograms $1,895,549 · Management $146,534 · Fundraising $2,631$2,044,714
IX-23 InsurancePrograms $329,505 · Management $36,932 · Fundraising $462$366,899
IX-24 Other expenses (24a–d)Programs $1,419,883$1,419,883
IX-25 Total functional expensesPrograms $28,337,093 · Management $4,325,462 · Fundraising $585,654$33,248,209
Part X · Balance sheet $142,402,536 assets, 24 lines filed
Asset lines not itemized here account for $231; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $44,136$661,132
X-2 Savings and temporary cash investmentsStart of year $6,309,315$4,554,477
X-3 Pledges and grants receivableStart of year $74,104$63,320
X-4 Accounts receivableStart of year $26,024,587$23,283,493
X-8 Inventories for sale or useStart of year $158,606$192,153
X-9 Prepaid expenses and deferred chargesStart of year $408,200$299,167
X-10c Land, buildings and equipment, netStart of year $24,237,763$27,742,764
X-11 Publicly traded securitiesStart of year $15,888,320$23,681,777
X-12 Other securitiesStart of year $31,815,086$21,084,091
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $38,276,102$40,839,931
X-16 Total assetsStart of year $143,245,332$142,402,536
X-17 Accounts payable and accrued expensesStart of year $3,461,120$2,884,933
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $22,918,096$22,921,304
X-20 Tax-exempt bond liabilitiesStart of year $36,318,365$35,849,912
X-24 Unsecured notes and loans payableStart of year $0$3,277,800
X-25 Other liabilitiesStart of year $686,102$1,682,162
X-26 Total liabilitiesStart of year $67,957,282$70,932,878
X-27 Net assets without donor restrictionsStart of year $29,407,668$26,122,827
X-28 Net assets with donor restrictionsStart of year $45,880,382$45,346,831
X-32 Total net assets or fund balancesStart of year $75,288,050$71,469,658
X-33 Total liabilities and net assetsStart of year $143,245,332$142,402,536
Part XI · Reconciliation of net assets $71,469,658 net assets at year end
XI-1 Total revenue$32,991,733
XI-2 Total expenses$33,248,209
XI-3 Revenue less expenses−$256,476
XI-4 Net assets at start of year$75,288,050
XI-5 Net unrealized gains (losses) on investments−$4,924,106
XI-8 Prior period adjustments$108,217
XI-9 Other changes in net assets$1,253,973
XI-10 Net assets at end of year$71,469,658

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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