Skip to content
Nonprofiteer
← LAKESIDE SCHOOL

Form 990 for tax year 2023

Filed by LAKESIDE SCHOOL.

Totals

Total revenue
$77,043,473
Total expenses
$58,709,894
Contributions and grants received
$19,587,206
Grants paid
$10,204,204
Program service revenue
$42,670,628
Investment income
$14,310,511
Other revenue
$475,128
Total assets, end of year
$496,836,195
Total liabilities, end of year
$41,758,388
Net assets or fund balances, end of year
$455,077,807
Program services expenses (Part IX)
$48,405,843
Management and general expenses
$8,885,417
Fundraising expenses
$1,418,634
Program service expenses (Part III)
$48,405,843

Program services were 82.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $19,587,206

  • 1g · Noncash contributions included above

    $755,543

  • 2a · Program service revenue: TUITION FEES

    total $40,890,093 · related or exempt $40,890,093

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $1,780,535 · related or exempt $1,780,535

  • 3 · Investment income

    total $5,966,989 · excluded $5,966,989

  • 6a · Gross rents

    real property $449,033

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $449,033

  • 6d · Net rental income or loss

    total $449,033 · excluded $449,033

  • 7a · Gross sales of assets other than inventory

    securities $47,657,636 · other assets $1,446,710

  • 7b · Less cost or other basis and sales expenses

    securities $40,697,257 · other assets $63,567

  • 7c · Gain or loss

    securities $6,960,379 · other assets $1,383,143

  • 7d · Net gain or loss

    total $8,343,522 · excluded $8,343,522

  • 11a · Other revenue: REFUNDS/REBATES

    total $19,555 · excluded $19,555

  • 11b · Other revenue: FSA UNUSED FORFEITURES

    total $6,105 · excluded $6,105

  • 11d · All other revenue

    total $435 · excluded $435

  • 11e · Other revenue, total

    $26,095

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,204,204 · program services $10,204,204

  • 5 · Compensation of officers, directors and key employees

    total $2,392,125 · program services $504,494 · management and general $1,595,319 · fundraising $292,312

  • 7 · Other salaries and wages

    total $25,239,776 · program services $21,740,726 · management and general $2,728,667 · fundraising $770,383

  • 8 · Pension plan contributions

    total $1,430,597 · program services $1,225,052 · management and general $154,830 · fundraising $50,715

  • 9 · Other employee benefits

    total $3,328,643 · program services $2,772,537 · management and general $471,825 · fundraising $84,281

  • 10 · Payroll taxes

    total $1,896,011 · program services $1,593,708 · management and general $228,423 · fundraising $73,880

  • 11b · Fees: legal

    total $173,498 · program services $8,574 · management and general $164,924

  • 11c · Fees: accounting

    total $66,392 · management and general $66,392

  • 11f · Fees: investment management

    total $2,064,605 · management and general $2,064,605

  • 11g · Fees: other

    total $722,846 · program services $320,577 · management and general $393,954 · fundraising $8,315

  • 12 · Advertising and promotion

    total $31,995 · program services $25,986 · management and general $6,009

  • 13 · Office expenses

    total $2,712,011 · program services $2,345,118 · management and general $300,296 · fundraising $66,597

  • 14 · Information technology

    total $824,704 · program services $645,257 · management and general $172,231 · fundraising $7,216

  • 16 · Occupancy

    total $2,576,852 · program services $2,459,491 · management and general $94,158 · fundraising $23,203

  • 17 · Travel

    total $1,355,608 · program services $1,301,910 · management and general $53,072 · fundraising $626

  • 19 · Conferences, conventions and meetings

    total $145,889 · program services $124,168 · management and general $19,556 · fundraising $2,165

  • 22 · Depreciation, depletion and amortization

    total $2,614,704 · program services $2,510,116 · management and general $78,441 · fundraising $26,147

  • 23 · Insurance

    total $403,950 · program services $306,685 · management and general $94,792 · fundraising $2,473

  • 24a · Other expenses: HOSPITALITY

    total $451,511 · program services $262,676 · management and general $178,514 · fundraising $10,321

  • 24b · Other expenses: TUITION EXPENSE

    total $54,564 · program services $54,564

  • 24c · Other expenses: TAXES

    total $2,198 · management and general $2,198

  • 24e · All other expenses

    total $17,211 · management and general $17,211

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,562,150 · end of year $2,891,297

  • 2 · Savings and temporary cash investments

    beginning of year $5,345,518 · end of year $75,630,124

  • 3 · Pledges and grants receivable

    beginning of year $11,567,641 · end of year $3,180,538

  • 4 · Accounts receivable

    beginning of year $27,722,384 · end of year $30,841,964

  • 8 · Inventories for sale or use

    beginning of year $44,100 · end of year $110,033

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,035,878 · end of year $2,364,541

  • 10a · Land, buildings and equipment: cost or other basis

    $97,002,518

  • 10b · Land, buildings and equipment: accumulated depreciation

    $35,940,057

  • 10c · Land, buildings and equipment, net

    beginning of year $58,949,622 · end of year $61,062,461

  • 11 · Investments: publicly traded securities

    beginning of year $143,746,545 · end of year $131,729,453

  • 12 · Investments: other securities

    beginning of year $192,979,276 · end of year $187,591,418

  • 15 · Other assets

    beginning of year $1,594,082 · end of year $1,434,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,236,258 · end of year $4,979,703

  • 19 · Deferred revenue

    beginning of year $31,582,014 · end of year $35,188,209

  • 21 · Escrow or custodial account liability

    beginning of year $1,242,313 · end of year $174,162

  • 25 · Other liabilities

    beginning of year $1,628,005 · end of year $1,416,314

  • 27 · Net assets without donor restrictions

    beginning of year $133,681,479 · end of year $142,153,594

  • 28 · Net assets with donor restrictions

    beginning of year $273,177,127 · end of year $312,924,213

Mission and programs · 2023

Mission

THE MISSION OF LAKESIDE SCHOOL IS TO DEVELOP IN INTELLECTUALLY CAPABLE YOUNG PEOPLE THE CREATIVE MINDS, HEALTHY BODIES, AND ETHICAL SPIRITS NEEDED TO CONTRIBUTE WISDOM, COMPASSION, AND LEADERSHIP TO A GLOBAL SOCIETY. WE PROVIDE A RIGOROUS, DYNAMIC ACADEMIC PROGRAM THROUGH WHICH EFFECTIVE EDUCATORS LEAD STUDENTS TO TAKE RESPONSIBILITY FOR LEARNING. WE ARE COMMITTED TO SUSTAINING A SCHOOL IN WHICH INDIVIDUALS REPRESENTING DIVERSE CULTURES AND EXPERIENCES INSTRUCT ONE ANOTHER IN THE MEANING AND VALUE OF COMMUNITY AND IN THE JOY AND IMPORTANCE OF LIFELONG LEARNING.

Activities or mission (Part I)

TO EDUCATE STUDENTS IN GRADES 5-12.

  • LAKESIDE SCHOOL CONTINUES ITS FOCUS ON THE CORE ELEMENTS OF ITS MISSION: ACADEMIC EXCELLENCE, DIVERSITY, AND GLOBAL EDUCATION, TO PROVIDE A WORLD CLASS EDUCATION FOR THE 21ST CENTURY. IN ADDITION TO ITS COMPREHENSIVE SCHOOL-YEAR PROGRAM, THE SCHOOL OFFERS A RICH ARRAY OF SUMMER ACADEMIC COURSES AND STEM AND ATHLETIC CAMPS AS WELL AS THE LAKESIDE EXPERIENTIAL EDUCATIONAL PROGRAM (LEEP), WHICH SERVES RISING 6TH AND 9TH GRADERS IN THE SEATTLE PUBLIC SCHOOLS BY PROVIDING GREATER ACCESS TO LAKESIDE'S CAMPUS AND OPPORTUNITIES.

    Expenses $42,504,877 · Grants $9,156,398 · Revenue $37,847,955

  • 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 EDUCATION INITIATIVE. TO SUPPORT TOOLS FOR LEARNING, LAKESIDE SELLS LAPTOP COMPUTERS AND E-LEARNING MATERIALS TO STUDENTS' FAMILIES.

    Expenses $3,217,150 · Grants $720,608 · Revenue $1,780,535

  • THE DOWNTOWN SCHOOL, A MICRO SCHOOL IN SEATTLE CENTER, OPENED IN FALL 2018. THE MODEL PRESERVES THE ESSENCE OF A LAKESIDE ACADEMIC EDUCATION AT APPROXIMATELY HALF THE TUITION.

    Expenses $2,683,816 · Grants $327,198 · Revenue $3,042,138

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kai Bynum

    HEAD OF SCHOOL

    Total calculated
    $859,417
    From this org
    $826,032
    From related orgs
    $0
    Other
    $33,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $650,000
    Bonus
    $124,700
    Other
    $51,332
    Deferred
    $23,100
    Nontaxable benefits
    $10,285
    Filer's total
    $859,417

  • Artemios Panos

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Sean O'Donnell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Bridgette Taylor

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Mark Klebanoff

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Carey Crutcher Smith

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Dr Sarah Barton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Nate Benjamin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joanna Black

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michelle Chang Chen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David De La Fuente

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lloyd D Frink

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Charlotte Guyman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michael Nachbar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Gurdeep Pall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Eduardo Penalver

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Keith Traverse

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brandon Vaughan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David Victor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Anna White

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Birage Tandon

    ASST. HEAD OF SCHOOL/CFO

    Total calculated
    $455,176
    From this org
    $419,091
    From related orgs
    $0
    Other
    $36,085
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $376,541
    Bonus
    $40,198
    Other
    $2,352
    Deferred
    $23,100
    Nontaxable benefits
    $12,985
    Filer's total
    $455,176

  • Sue Belcher

    HEAD OF DOWNTOWN SCHOOL

    Total calculated
    $309,633
    From this org
    $264,835
    From related orgs
    $0
    Other
    $44,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,864
    Bonus
    $29,427
    Other
    $43,544
    Deferred
    $14,179
    Nontaxable benefits
    $30,619
    Filer's total
    $309,633

  • Ryan Boccuzzi

    UPPER SCHOOL DIRECTOR

    Total calculated
    $309,397
    From this org
    $266,508
    From related orgs
    $0
    Other
    $42,889
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,925
    Bonus
    $200
    Other
    $42,383
    Deferred
    $16,262
    Nontaxable benefits
    $26,627
    Filer's total
    $309,397

  • Daiga Galins

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $296,829
    From this org
    $241,541
    From related orgs
    $0
    Other
    $55,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,477
    Bonus
    $198
    Other
    $5,866
    Deferred
    $17,562
    Nontaxable benefits
    $37,726
    Filer's total
    $296,829

  • Reem Abu Rahmeh

    MIDDLE SCHOOL DIRECTOR

    Total calculated
    $224,173
    From this org
    $201,570
    From related orgs
    $0
    Other
    $22,603
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,594
    Bonus
    $196
    Other
    $1,780
    Deferred
    $13,972
    Nontaxable benefits
    $8,631
    Filer's total
    $224,173

  • Jamie Asaka

    DIRECTOR OF STUDENT SUPPORT

    Total calculated
    $232,624
    From this org
    $177,559
    From related orgs
    $0
    Other
    $55,065
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,330
    Bonus
    $217
    Other
    $11,012
    Deferred
    $12,785
    Nontaxable benefits
    $42,280
    Filer's total
    $232,624

  • Wellesley Wilson

    DIRECTOR OF ADMISSIONS

    Total calculated
    $227,329
    From this org
    $202,847
    From related orgs
    $0
    Other
    $24,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,369
    Bonus
    $197
    Other
    $3,281
    Deferred
    $13,972
    Nontaxable benefits
    $10,510
    Filer's total
    $227,329

  • Jamie Britto

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $220,163
    From this org
    $193,805
    From related orgs
    $0
    Other
    $26,358
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,986
    Bonus
    $217
    Other
    $10,602
    Deferred
    $13,023
    Nontaxable benefits
    $13,335
    Filer's total
    $220,163

  • Christopher Hartley

    DIRECTOR OF ATHLETICS

    Total calculated
    $208,665
    From this org
    $185,536
    From related orgs
    $0
    Other
    $23,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,485
    Bonus
    $215
    Other
    $1,836
    Deferred
    $12,844
    Nontaxable benefits
    $10,285
    Filer's total
    $208,665

  • Ari Worthman

    DIRECTOR OF COLLEGE COUNSELING

    Total calculated
    $207,921
    From this org
    $182,426
    From related orgs
    $0
    Other
    $25,495
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,369
    Bonus
    $217
    Other
    $840
    Deferred
    $12,860
    Nontaxable benefits
    $12,635
    Filer's total
    $207,921

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE HEAD OF SCHOOL ELECTS FIRST CLASS TRAVEL WHILE TRAVELING ON BEHALF OF THE SCHOOL FOR HEALTH-RELATED REASONS AND BETTER PERFORMANCE. HEAD OF SCHOOL, UPPER SCHOOL DIRECTOR AND DIRECTOR OF TECHNOLOGY ALL LIVE IN RENTAL HOMES OWNED BY LAKESIDE SCHOOL. FOR THE HEAD OF SCHOOL AND UPPER SCHOOL DIRECTOR, THE FULL MARKET VALUE OF THE HOUSING IS TREATED AS IMPUTED INCOME. FOR THE OTHER EMPLOYEES IDENTIFIED, THEY PAY A BELOW-MARKET RATE RENT MONTHLY AND THE DIFFERENCE BETWEEN RENT PAID AND THE MARKET VALUE IS TREATED AS IMPUTED INCOME.
PART I, LINE 7
KAI BYNUM, HEAD OF SCHOOL, BIRAGE TANDON, ASST HEAD OF SCHOOL/CFO, DAIGA GALINS, DIRECTOR OF DEVELOPMENT, SUE BELCHER, HEAD OF DOWNTOWN SCHOOL, RYAN BOCCUZZI, UPPER SCHOOL DIRECTOR, REEM ABU RAHMEH, MIDDLE SCHOOL DIRECTOR, WELLESLEY WILSON, DIRECTOR OF ADMISSIONS, JAMIE BRITTO, DIRECTOR OF TECHNOLOGY, ARI WORTHMAN, DIRECTOR OF COLLEGE COUNSELING, CHRISTOPHER HARTLEY, DIRECTOR OF ATHLETICS, AND JAMIE ASAKA, DIRECTOR OF STUDENT SUPPORT, ALL RECEIVED A BONUS DURING THE YEAR THAT WAS SUBJECT TO THE DISCRETION OF THE BOARD BUT CAPPED AT A FIXED AMOUNT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (2)

    T · INVESTMENTS · WA · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349309105

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.