Sandia School EIN 85-0196115

Sandia School

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Prepares students for college and life success through challenging academics and community. For fiscal year 2024 it reported $18.1M in revenue, $16.5M in expenses, and $21.3M in net assets.Pt I

Founded
1965
Type
Public charity (501(c)(3)) · Education
Location
Albuquerque, NM
Website
www.sandiaprep.org
Filings
4 on file (2021–2024)
Revenue
$18.1MFY2024
Expenses
$16.5M
Net assets
$21.3M
People
26
Filings
4
Updates
0
More identity details & actions ⌄
EIN  85-0196115 Public charity (501(c)(3)) Albuquerque, NM Founded 1965
Form 990 (PDF)
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Figures match the IRS filing checked 8/11/26 · see original: IRS
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Size
$10–100M
What they do
Prepares students for college and life success through challenging academics and community.
Leadership
Heather Mock · Head of School · $317K
Money in and out
$18.1M revenue, $16.5M expenses
Bottom line
79% program efficiency
Where the money goes · FY2024
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$16.5M
Pt IX · Ln 25
Net assets
$21.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.5M
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.19 Fundraising $0.02
Program efficiency
79%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
11.7mo
months of highly liquid reserves at operating expense rate▲ +0.9% vs prior filing year
Surplus margin
+8%
revenue over expenses, this year-0.4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$18.1M
FY2024▲ +3%
Expenses
$16.5M
FY2024▲ +3%
Total assets
$30.7M
FY2024▲ +7%
Total liabilities
$9.3M
FY2024▼ -5%
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$16.5M
Pt IX · Ln 25
Net assets
$21.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.5M
Total assetsPt X · Ln 16$30.7M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 321
Independent voting membersPt I · Ln 421
Mission & Programs · Part III

Where the work happens

3 program services account for $13.1M of program spending, described in the organization's own filed words · FY2024.
01

Instruction

Sandia prep is an independent private school that serves approximately 500 day students in grades 6-12. Sandia prep provides remarkable opportunities for intellectual and personal growth within a challenging and balanced program.

$9.5Mprogram expense
02

Financial Assistance

Sandia prep provides tuition remission and financial assistance to students who would not otherwise be able to attend. The financial assistance expenses help families pay for their students to attend sandia prep and comprise 40% of the student body.

$2.9Mprogram expense
03

Summer Programs

Sandia prep offers a summer program that provides a safe and educationally challenging environment for younger students and our current students. The summer program recently served approximately 800 students from ages 5 to 16.

$717Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSandia School
EINHdr · item D85-0196115
Principal addressHdr · item CAlbuquerque, NM
WebsiteHdr · item Jwww.sandiaprep.org
Year of formationHdr · item L1965
State of legal domicileHdr · item MNM
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B240)
Ruling yearIRS BMFAug 1967

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a21
Independent voting membersPt VI · Ln 1b21
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Head of School
$316,521Pt VII · Sec A
Assistant Head of School
$109,597Pt VII · Sec A
Assistant Head of School - Middle School
$102,485Pt VII · Sec A
Assistant Head of School - Upper School
$102,240Pt VII · Sec A
$79,260Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A

Heather Mock’s $317K as Head of School is at the 68th percentile of top reported officer pay among 3682 $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

NameFY2024FY2024FY2023FY2022FY2021
Heather Mock$316,521$291,038$120,386
Bill Sinfield$132,396$240,114$240,006
Julie Cook$117,937$115,232$113,742
Cheryl McMillan$114,387$112,548
Dacia Card CPA$109,833$105,413$104,452
Laura Fitzpatrick$109,597$106,197$102,263
Scott Jeffries$102,240$104,813
Susan Hochrein$102,485

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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Statement of Revenue

Part VIII
Program service revenue$14.7M · 81%
Contributions & grants$2.2M · 12%
Other revenue$732K · 4%
Investment income$445K · 2%
Program service revenue81%$14.7M
Contributions & grants12%$2.2M
Other revenue4%$732K
Investment income2%$445K
— government grantsLn 1e$1.6M
Total revenueLn 12$18.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.19 Fundraising $0.02
Program services79%$13.1M
Management & general19%$3.2M
Fundraising2%$296K
Total functional expensesLn 25$16.5M

Balance Sheet

Part X · end of year
CashLn 1$5.5M
Total assetsLn 16$30.7M
Total liabilitiesLn 26$9.3M
Total net assetsLn 32$21.3M
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $16.0M · Operating expenses (Pt IX) $16.5M · Less non-cash grants $54K · Cash operating expenses/yr $16.5M
11.7 months
Where the money goes
Program services
Program services $13.1M · Total expenses $16.5M
79%
Management & General
Management & general $3.2M · Total expenses $16.5M
19%
Fundraising
Fundraising $296K · Total expenses $16.5M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $297K · Solicited contributions (3-yr avg) $818K
$0.36 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.2M · Total revenue $18.1M
12%
Government reliance
Government grants $1.6M · Total revenue $18.1M
9%
Earned-income share
Program service revenue $14.7M · Total revenue $18.1M
81%
Investment reliance
Investment income $445K · Total revenue $18.1M
+2%
Program self-sufficiency
Program service revenue $14.7M · Total expenses $16.5M
89%
Growth & trend
Revenue growth (YoY)
This year $18.1M · Prior year $17.5M
+3%
Revenue CAGR
FY2020 $15.6M · FY2024 $18.1M
+4%
Net-asset trend (YoY)
End of year $21.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $18.1M · Expenses $16.5M
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $30.7M
Net-asset ratio
Net assets $21.3M · Total assets $30.7M
70%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $10.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $30.7M
34%
People & payroll
Highest Reported Total Compensation
Individual Heather Mock · Reported title HEAD OF SCHOOL · Highest reported compensation $317K · Total expenses $16.5M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $8.2M · Total expenses $16.5M
49%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 19%
Fundraising cost ratio 13%
Revenue growth 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 20 grants · $14.8M · 2020–2024
Unitemized GrantFY2024$2,185,000
Unitemized GrantFY2024$667,243
Unitemized GrantFY2024$7,500
Unitemized GrantFY2024$7,262
Unitemized GrantFY2023$2,153,278
Unitemized GrantFY2023$603,961
Unitemized GrantFY2023$9,036
Unitemized GrantFY2023$5,500
Unitemized GrantFY2022$2,173,778
Unitemized GrantFY2022$644,179
Unitemized GrantFY2022$7,000
Unitemized GrantFY2022$5,730
Unitemized GrantFY2021$2,308,624
Unitemized GrantFY2021$601,292
Unitemized GrantFY2021$29,500
Unitemized GrantFY2021$6,670
Unitemized GrantFY2020$2,448,666
Unitemized GrantFY2020$707,935
See all 20 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$17.5M revenue · ⤓ 990 PDF
FY2023$15.2M revenue · ⤓ 990 PDF
FY2022$14.9M revenue · ⤓ 990 PDF
FY2021$15.6M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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