Sandia School FY2022 filing

Tax-deductible

Albuquerque, NM501(c)(3)Since 1965EducationEIN 85-0196115Revenue $14.9M in FY2022

On file with the IRSsandiaprep.org532 Osuna Rd Ne, 87113-1031 · Albuquerque, NMTax-exempt since Aug 1967School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$575K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
4 of 4
filings with a surplus
Average surplus $930K a year · 6% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$575K
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
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $52K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$10.1M
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.9M
-4% vs prior year
Spent
$14.4M
To programs
79%
Net assets
$17.5M
By yearFY2021–FY2024
Revenue
$14.9M
FY2022▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2021$15.6M
FY2022$14.9M
FY2023$15.2M
FY2024$17.5M
FY2024$18.1M
Expenses
$14.4M
FY2022▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2021$14.0M
FY2022$14.4M
FY2023$15.1M
FY2024$16.0M
FY2024$16.5M
Net assets
$17.5M
FY2022▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021$18.1M
FY2022$17.5M
FY2023$18.2M
FY2024$19.0M
FY2024$21.3M

From the FY2022 Form 990 (year ending July 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1967.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $11.4M Management & general 18% · $2.6M Fundraising 2% · $357K

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; $575K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of School (through 6/30)
$240,114Pt VII · Sec A
Director of Development
$115,232Pt VII · Sec A
Head of Upper School
$114,387Pt VII · Sec A
Business Manager
$105,413Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee (left Before Ye)
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Heather Mock’s $317K as Head of School is at the 68th 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

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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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

Prepares students for college and life success through challenging academics and community.

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Provided by the organization

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3 programs · $11.4M · in their own filed words · FY2021
01

Instruction

Sandia prep is an independent private school that serves approximately 515 day students in grades 6-12. Sandia prep provides remarkable opportunities for intellectual and personal growth within a challenging and balanced program.

$8.1Mprogram 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 500 students from ages 5 to 16.

$389Kprogram 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 · 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 →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$14.9M
Ln 12
Fees for servicesLn 2g$12.7M
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$436K
Money outPt IX
$14.4M
Ln 25
Programscol B$11.4M
Managementcol C$2.6M
Fundraisingcol D$357K
Owns and owesPt X
$17.5M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$27.6M
LiabilitiesLn 26$10.1M
PeoplePt VI, VII
32
listed · VII A
PaidVII A4
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Noncash giftsLn 1g$259K
Fundraising eventsLn 1c$218K
Fees for servicesLn 2g$12.7M
Investment incomeLn 3$436K
Other incomeLn 4–11$402K
Gains on assetsLn 7$255K
Total revenueLn 12$14.9M
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$4.5M
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$8.3M
Land, buildings, equipmentLn 10c$13.9M
Other assetsLn 15$3K
Total assetsLn 16$27.6M
LiabilitiesLn 26$10.1M
Net assetsLn 32$17.5M
OperationsPt I, VI
EmployeesI 5277
VolunteersI 6169
Fiscal year endsHeaderJuly
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 FY22End FY22
Cash and savingsLn 1–2$5.1M$4.5M
InvestmentsLn 11–13$9.4M$8.3M
Land, buildings, equipmentLn 10c$14.6M$13.9M
Total assetsLn 16$29.8M$27.6M
LiabilitiesLn 26$11.8M$10.1M
Net assetsLn 32$18.1M$17.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2.9M$2.9M
Pay of current officers, directors and key staffLn 5$404K$86K$232K$86K
Other salaries and wagesLn 7$5.5M$4.0M$1.4M$71K
Pension plan contributionsLn 8$221K$158K$61K$2K
Other employee benefitsLn 9$493K$352K$139K$2K
Payroll taxesLn 10$449K$304K$134K$11K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$72K$72K
Investment management feesLn 11f$49K$49K
Other fees for servicesLn 11g$11K$11K
Advertising and promotionLn 12$100K$90K$10K
Information technologyLn 14$198K$134K$59K$5K
OccupancyLn 16$302K$290K$10K$791
InterestLn 20$247K$238K$9K$648
Depreciation, depletion and amortizationLn 22$1.0M$1.0M$31K$5K
InsuranceLn 23$176K$169K$6K$462
Other expenses (24a–d)Ln 24$1.5M$1.5M$11K$813
All other expensesLn 24e$679K$261K$255K$163K
Total functional expensesLn 25$14.4M$11.4M$2.6M$357K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $17.5M$16.0M$1.5M$19.0M 990 PDF
FY2023 $15.2M$15.1M$147K$18.2M 990 PDF
FY2022 Viewing $14.9M$14.4M$500K$17.5M 990 PDF
FY2021 $15.6M$14.0M$1.6M$18.1M 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 FY2022 990 (6 parts)
Part I · Summary $14,904,182 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,199,617$1,403,500
I-9 Program service revenuePrior year $12,323,500$12,662,357
I-10 Investment incomePrior year $781,969$436,493
I-11 Other revenuePrior year $273,922$401,832
I-12 Total revenuePrior year $15,579,008$14,904,182
I-13 Grants and similar amounts paidPrior year $3,358,643$2,946,086
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,955,570$7,075,750
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,682,160$4,382,030
I-18 Total expensesPrior year $13,996,373$14,403,866
I-19 Revenue less expensesPrior year $1,582,635$500,316
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $14,904,182 across 11 lines filed
VIII-1c Fundraising events$217,685
VIII-1f All other contributions, gifts and grants$1,185,815
VIII-1g Noncash contributions (included above)$259,157
VIII-1h Total contributions, gifts and grants$1,403,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,662,357$12,662,357
VIII-3 Investment incomeExcluded from tax $181,559$181,559
VIII-6 Net rental income or lossExcluded from tax $8,154$8,154
VIII-7 Net gain or loss on sales of assetsExcluded from tax $254,934$254,934
VIII-8 Net income from fundraising eventsExcluded from tax −$7,161−$7,161
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $400,839$400,839
VIII-12 Total revenueRelated to mission $13,063,196 · Unrelated business $0 · Excluded from tax $437,486$14,904,182
Part IX · Statement of functional expenses $14,403,866 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $2,946,086$2,946,086
IX-5 Pay of current officers, directors and key staffPrograms $85,914 · Management $232,331 · Fundraising $85,913$404,158
IX-7 Other salaries and wagesPrograms $3,991,679 · Management $1,446,424 · Fundraising $70,553$5,508,656
IX-8 Pension plan contributionsPrograms $157,752 · Management $61,090 · Fundraising $2,191$221,033
IX-9 Other employee benefitsPrograms $351,898 · Management $138,705 · Fundraising $2,300$492,903
IX-10 Payroll taxesPrograms $304,265 · Management $134,059 · Fundraising $10,676$449,000
IX-11b Legal feesManagement $2,807$2,807
IX-11c Accounting feesManagement $72,115$72,115
IX-11f Investment management feesManagement $49,283$49,283
IX-11g Other fees for servicesManagement $11,340$11,340
IX-12 Advertising and promotionManagement $89,902 · Fundraising $9,989$99,891
IX-14 Information technologyPrograms $134,089 · Management $59,080 · Fundraising $4,705$197,874
IX-16 OccupancyPrograms $290,357 · Management $10,446 · Fundraising $791$301,594
IX-20 InterestPrograms $237,769 · Management $8,554 · Fundraising $648$246,971
IX-22 Depreciation, depletion and amortizationPrograms $1,001,654 · Management $31,139 · Fundraising $5,190$1,037,983
IX-23 InsurancePrograms $169,339 · Management $6,092 · Fundraising $462$175,893
IX-24 Other expenses (24a–d)Programs $1,495,826 · Management $10,729 · Fundraising $813$1,507,368
IX-24e All other expensesPrograms $261,237 · Management $254,524 · Fundraising $163,150$678,911
IX-25 Total functional expensesPrograms $11,427,865 · Management $2,618,620 · Fundraising $357,381$14,403,866
Part X · Balance sheet $27,571,490 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $2,951$2,951
X-2 Savings and temporary cash investmentsStart of year $5,057,584$4,531,888
X-3 Pledges and grants receivableStart of year $250,503$396,548
X-4 Accounts receivableStart of year $301,171$101,319
X-8 Inventories for sale or useStart of year $147,233$146,397
X-9 Prepaid expenses and deferred chargesStart of year $123,516$145,978
X-10c Land, buildings and equipment, netStart of year $14,573,105$13,913,632
X-11 Publicly traded securitiesStart of year $9,377,831$8,329,404
X-15 Other assetsStart of year $3,373$3,373
X-16 Total assetsStart of year $29,837,267$27,571,490
X-17 Accounts payable and accrued expensesStart of year $338,477$351,850
X-19 Deferred revenueStart of year $5,001,397$4,204,696
X-20 Tax-exempt bond liabilitiesStart of year $5,534,669$5,031,806
X-25 Other liabilitiesStart of year $905,505$486,983
X-26 Total liabilitiesStart of year $11,780,048$10,075,335
X-27 Net assets without donor restrictionsStart of year $9,687,176$9,551,907
X-28 Net assets with donor restrictionsStart of year $8,370,043$7,944,248
X-32 Total net assets or fund balancesStart of year $18,057,219$17,496,155
X-33 Total liabilities and net assetsStart of year $29,837,267$27,571,490
Part XI · Reconciliation of net assets $17,496,155 net assets at year end
XI-1 Total revenue$14,904,182
XI-2 Total expenses$14,403,866
XI-3 Revenue less expenses$500,316
XI-4 Net assets at start of year$18,057,219
XI-5 Net unrealized gains (losses) on investments−$1,505,648
XI-9 Other changes in net assets$444,268
XI-10 Net assets at end of year$17,496,155

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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