Albuquerque Academy FY2024 filing

Tax-deductible

Albuquerque, NM501(c)(3)Since 1955EducationEIN 85-0129165Revenue $38.1M in FY2024

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.
84¢ 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

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $126K a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% 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 · 3% of spending
Looks good: pay to officers and key staff is 3% 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
$70.4M
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$38.1M
+11% vs prior year
Spent
$37.9M
To programs
84%
Net assets
$86.3M
By yearFY2020–FY2025
Revenue
$38.1M
FY2024▲ +11%
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
FY2025$45.5M
Expenses
$37.9M
FY2024▲ +2%
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
FY2025$44.6M
Net assets
$86.3M
FY2024▲ +8%
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
FY2025$92.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1972.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $31.8M Management & general 14% · $5.2M Fundraising 2% · $886K

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

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

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$361,340Pt VII · Sec A
Chief Financial Officer
$192,866Pt VII · Sec A
Associate Head of School
$142,804Pt VII · Sec A
Associate Head of School
$135,769Pt VII · Sec A
Athletics Director
$131,768Pt VII · Sec A
External Relations Director
$115,359Pt VII · Sec A
Technology Director
$112,785Pt VII · Sec A
General Trustee
$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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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 · $31.1M · in their own filed words · FY2023
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.

$27.6Mprogram 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.

$1.8Mprogram expense
03

Albuquerque academy offers a six-week summer program that provided educational opportunities to 1,202 students during the fiscal year ending june 30, 2024. See schedule o.

$1.7Mprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$38.1M
Ln 12
Fees for servicesLn 2g$30.4M
Investment incomeLn 3$3.7M
Gifts and grantsLn 1h$3.5M
Money outPt IX
$37.9M
Ln 25
Programscol B$31.8M
Managementcol C$5.2M
Fundraisingcol D$886K
Owns and owesPt X
$86.3M
net assets · Ln 32
Cash and savingsLn 1–2$6.0M
Total assetsLn 16$156.8M
LiabilitiesLn 26$70.4M
PeoplePt VI, VII
29
listed · VII A
PaidVII A7
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.5M
Government grantsLn 1e$0
Noncash giftsLn 1g$128K
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$30.4M
Investment incomeLn 3$3.7M
Other incomeLn 4–11$487K
Gains on assetsLn 7$1.2M
Total revenueLn 12$38.1M
Assets in detailPt X, end of year
CashLn 1$65K
SavingsLn 2$5.9M
Cash and savings togetherLn 1–2$6.0M
InvestmentsLn 11–13$41.1M
Land, buildings, equipmentLn 10c$31.9M
Other assetsLn 15$51.4M
Total assetsLn 16$156.8M
LiabilitiesLn 26$70.4M
Net assetsLn 32$86.3M
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 FY24End FY24
Cash and savingsLn 1–2$7.9M$6.0M
InvestmentsLn 11–13$37.3M$41.1M
Land, buildings, equipmentLn 10c$33.2M$31.9M
Total assetsLn 16$150.5M$156.8M
LiabilitiesLn 26$70.6M$70.4M
Net assetsLn 32$80.0M$86.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$591K$240K$294K$58K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$18.7M$16.2M$1.9M$520K
Pension plan contributionsLn 8$850K$745K$87K$19K
Other employee benefitsLn 9$3.2M$3.0M$106K$21K
Payroll taxesLn 10$1.4M$1.2M$144K$41K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$70K$0$70K$0
Accounting feesLn 11c$155K$0$155K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$488K$0$488K$0
Other fees for servicesLn 11g$957K$628K$313K$15K
Advertising and promotionLn 12$196K$66K$115K$14K
Office expensesLn 13$1.2M$678K$449K$33K
Information technologyLn 14$728K$438K$260K$29K
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$1.2M$1.1M$85K$18K
TravelLn 17$690K$513K$162K$14K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$198K$46K$139K$14K
InterestLn 20$1.1M$1.0M$84K$20K
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$2.9M$2.7M$185K$44K
InsuranceLn 23$546K$502K$35K$8K
Other expenses (24a–d)Ln 24$2.9M$2.7M$98K$18K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$37.9M$31.8M$5.2M$886K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $45.5M$44.6M$933K$92.9M 990 PDF
FY2024 Viewing $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 $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 FY2024 990 (6 parts)
Part I · Summary $38,123,662 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,464,265$3,545,850
I-9 Program service revenuePrior year $29,587,771$30,399,508
I-10 Investment incomePrior year $2,116,208$3,691,315
I-11 Other revenuePrior year $258,222$486,989
I-12 Total revenuePrior year $34,426,466$38,123,662
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $24,276,536$24,643,184
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $12,920,688$13,248,285
I-18 Total expensesPrior year $37,197,224$37,891,469
I-19 Revenue less expensesPrior year −$2,770,758$232,193
Part VI · Governance 22 of 22 board members independent, no flags
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
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 $38,123,662 across 16 lines filed
Lines not itemized here account for $939,602 of total revenue; see the IRS return.
VIII-1a Federated campaigns$27,767
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$1,589,383
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,928,700
VIII-1g Noncash contributions (included above)$128,125
VIII-1h Total contributions, gifts and grants$3,545,850
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,882,827 · Unrelated business $0 · Excluded from tax $0$29,882,827
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,517,819$2,517,819
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,173,496$1,173,496
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $64,068$64,068
VIII-12 Total revenueRelated to mission $30,816,314 · Unrelated business $0 · Excluded from tax $3,761,498$38,123,662
Part IX · Statement of functional expenses $37,891,469 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $239,820 · Management $293,664 · Fundraising $57,863$591,347
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $16,220,416 · Management $1,922,914 · Fundraising $520,036$18,663,366
IX-8 Pension plan contributionsPrograms $745,159 · Management $86,552 · Fundraising $18,615$850,326
IX-9 Other employee benefitsPrograms $3,025,511 · Management $106,432 · Fundraising $21,492$3,153,435
IX-10 Payroll taxesPrograms $1,199,640 · Management $144,076 · Fundraising $40,994$1,384,710
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $69,995 · Fundraising $0$69,995
IX-11c Accounting feesPrograms $0 · Management $154,704 · Fundraising $0$154,704
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $487,837 · Fundraising $0$487,837
IX-11g Other fees for servicesPrograms $628,120 · Management $313,382 · Fundraising $15,364$956,866
IX-12 Advertising and promotionPrograms $66,375 · Management $114,988 · Fundraising $14,360$195,723
IX-13 Office expensesPrograms $677,801 · Management $449,213 · Fundraising $32,946$1,159,960
IX-14 Information technologyPrograms $438,413 · Management $260,358 · Fundraising $29,274$728,045
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $1,069,261 · Management $85,165 · Fundraising $17,801$1,172,227
IX-17 TravelPrograms $513,452 · Management $162,473 · Fundraising $13,912$689,837
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $45,934 · Management $138,610 · Fundraising $13,579$198,123
IX-20 InterestPrograms $1,042,368 · Management $83,899 · Fundraising $19,847$1,146,114
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $2,653,125 · Management $185,239 · Fundraising $43,820$2,882,184
IX-23 InsurancePrograms $502,291 · Management $35,442 · Fundraising $8,384$546,117
IX-24 Other expenses (24a–d)Programs $2,744,907 · Management $97,670 · Fundraising $17,976$2,860,553
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $31,812,593 · Management $5,192,613 · Fundraising $886,263$37,891,469
Part X · Balance sheet $156,773,773 assets, 23 lines filed
Asset lines not itemized here account for $4,331; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $53,840$64,853
X-2 Savings and temporary cash investmentsStart of year $7,892,318$5,908,277
X-3 Pledges and grants receivableStart of year $1,500$538,685
X-4 Accounts receivableStart of year $24,314,460$25,013,769
X-8 Inventories for sale or useStart of year $254,572$268,564
X-9 Prepaid expenses and deferred chargesStart of year $621,552$499,246
X-10c Land, buildings and equipment, netStart of year $33,166,828$31,931,056
X-11 Publicly traded securitiesStart of year $24,951,494$38,497,490
X-12 Other securitiesStart of year $12,374,418$2,643,925
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $46,893,097$51,403,577
X-16 Total assetsStart of year $150,525,848$156,773,773
X-17 Accounts payable and accrued expensesStart of year $2,510,271$2,326,623
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $26,172,516$27,749,067
X-20 Tax-exempt bond liabilitiesStart of year $37,482,775$36,378,921
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,089,028$978,286
X-26 Total liabilitiesStart of year $70,556,329$70,429,448
X-27 Net assets without donor restrictionsStart of year $30,337,253$31,699,340
X-28 Net assets with donor restrictionsStart of year $49,632,266$54,644,985
X-32 Total net assets or fund balancesStart of year $79,969,519$86,344,325
X-33 Total liabilities and net assetsStart of year $150,525,848$156,773,773
Part XI · Reconciliation of net assets $86,344,325 net assets at year end
XI-1 Total revenue$38,123,662
XI-2 Total expenses$37,891,469
XI-3 Revenue less expenses$232,193
XI-4 Net assets at start of year$79,969,519
XI-5 Net unrealized gains (losses) on investments$6,142,613
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$86,344,325

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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