2025-05-15T20:15:33+00:00 2024-06-30 135565207 KPMG LLP 301 Main Street Suite 2150 Baton Rouge LA 70801 990 2023-07-01 850129165 Albuquerque Academy ALBU 5058283200 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 JULIANNE PUENTE Head of School 5058283200 2025-05-16 true CASSANDRA WYATT P01943677 2253444000 2024-04-24 2023 2025-03-06 01:10:19Z JULIANNE PUENTE 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 62162030 false X http://www.aa.edu/ X 1955 NM ALBUQUERQUE ACADEMY IS A NON-DENOMINATIONAL, COEDUCATIONAL, INDEPENDENT DAY SCHOOL. 22 22 828 354 0 0 2464265 3545850 29587771 30399508 2116208 3691315 258222 486989 34426466 38123662 0 0 0 0 24276536 24643184 0 0 886263 12920688 13248285 37197224 37891469 -2770758 232193 150525848 156773773 70556329 70429448 79969519 86344325 X See Schedule O. false false 27605178 0 26029340 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. 1834880 0 1395101 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. 1678082 0 1767836 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. 694453 0 1624037 Other program services: 694453 1624037 31812593 true true false false false false true false true true false false true true true false true true false false false false false false false false false false true true false false false false false false true false false false true true false false false true true false false false true 57 0 828 true true true false false false false false false false false true false false false X 22 22 false false false false false false false true true false false true true true true true true true true false NM X SANDY TIMMONS 5058283200 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 CHAMIZA PACHECO DE ALAS ASSISTANT SECRETARY 3.0 0.0 X X 0 0 0 CHRIS BUTTNER SECRETARY 5.0 0.0 X X 0 0 0 CHRISTINA SHEEHAN VICE CHAIR 5.0 0.0 X X 0 0 0 DIANE HARRISON OGAWA CHAIR 10.0 0.0 X X 0 0 0 FRANCINE JACOBS TREASURER 5.0 0.0 X X 0 0 0 ADAM HONEGGER CHARTER TRUSTEE 3.0 0.0 X 0 0 0 ALEJANDRO GRINE GENERAL TRUSTEE 3.0 0.0 X 0 0 0 CHANDLER TODD GENERAL TRUSTEE 0.0 0.0 X 0 0 0 CHRIS JILLSON CHARTER TRUSTEE 3.0 0.0 X 0 0 0 CHRISTINA BACHICHA GENERAL TRUSTEE 3.0 0.0 X 0 0 0 DIANNE TOHEN Ex-Officio TRUSTEE 3.0 0.0 X 0 0 0 EMILY HILLER GENERAL TRUSTEE 3.0 0.0 X 0 0 0 ERIKA RIMSON GENERAL TRUSTEE 3.0 0.0 X 0 0 0 LISSA HINES GENERAL TRUSTEE 3.0 0.0 X 0 0 0 MOLLY CHEVES GENERAL TRUSTEE 3.0 0.0 X 0 0 0 NOTAH BEGAY III GENERAL TRUSTEE 3.0 0.0 X 0 0 0 PATRICK APODACA GENERAL TRUSTEE 3.0 0.0 X 0 0 0 RANDY H TALBOT CHARTER TRUSTEE 3.0 0.0 X 0 0 0 RONALD MOYA CHARTER TRUSTEE 3.0 0.0 X 0 0 0 SUSAN BARGER FOX GENERAL TRUSTEE 3.0 0.0 X 0 0 0 THOMAS SMIDT III CHARTER TRUSTEE 3.0 0.0 X 0 0 0 VALERIE ROMERO-LEGGOTT CHARTER TRUSTEE 3.0 0.0 X 0 0 0 JULIANNE PUENTE HEAD OF SCHOOL 40.0 0.0 X 361340 0 51786 SHAWN RICKETTS CHIEF FINANCIAL OFFICER 40.0 0.0 X 192866 0 31105 AMY EGLINTON KELLER EXTERNAL RELATIONS DIRECTOR 40.0 0.0 X 115359 0 6913 CHRISTINE LENHART ASSOCIATE HEAD OF SCHOOL 40.0 0.0 X 135769 0 47772 JIM KING TECHNOLOGY DIRECTOR 40.0 0.0 X 112785 0 20950 STEPHANIE LEVY-LIPKOWTIZ ASSOCIATE HEAD OF SCHOOL 40.0 0.0 X 142804 0 31679 TARYN BACHIS ATHLETICS DIRECTOR 40.0 0.0 X 131768 0 19712 1192691 0 209917 12 false true false ACCENT LANDSCAPE CONTRACTORS INC PO BOX 30983 ALBUQUERQUE NM 871900983 LANDSCAPING PROJECTS 2259761 SAGE DINING SERVICES INC 1402 YORK ROAD LUTHERVILLE MD 210936024 CAFETERIA & FOOD SERVICES 1577950 INTRAWORKS INC 7910 LORRAINE COURT NE ALBUQUERQUE NM 871131557 SECURITY & SAFETY SYSTEMS 659868 RK INDUSTRIES NM LLC 3800 XANTHIA STREET DENVER CO 802383306 BUILDING SERVICES 347907 TECHNOLOGY INTEGRATION GROUP PO BOX 103184 PASADENA CA 911890156 IT SOLUTIONS & SERVICES 197118 13 27767 0 0 1589383 0 1928700 128125 3545850 TUITION & FEES @ GROSS 611110 30894270 30894270 0 0 SUMMER AND OUTREACH 611110 1767836 1767836 0 0 CAFETERIA SVC @ GROSS 611110 1588574 1588574 0 0 FINANCIAL ASSISTANCE 611110 -5058403 -5058403 0 0 Aquatics Program 611110 690550 690550 516681 516681 0 0 30399508 2517819 0 0 2517819 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24842807 5586 23623378 51519 1219429 -45933 1173496 0 0 1173496 0 0 0 0 0 0 0 0 0 0 0 0 780277 363471 416806 416806 PURCHASE CARD REBATE 900099 29941 0 0 29941 Retirement Plan Revenue 525110 34127 34127 6115 0 0 6115 70183 38123662 30816314 0 3761498 0 0 0 0 0 0 0 0 591347 239820 293664 57863 0 0 0 0 18663366 16220416 1922914 520036 850326 745159 86552 18615 3153435 3025511 106432 21492 1384710 1199640 144076 40994 0 0 0 0 69995 0 69995 0 154704 0 154704 0 0 0 0 0 0 0 487837 0 487837 0 956866 628120 313382 15364 195723 66375 114988 14360 1159960 677801 449213 32946 728045 438413 260358 29274 0 0 0 0 1172227 1069261 85165 17801 689837 513452 162473 13912 0 0 0 0 198123 45934 138610 13579 1146114 1042368 83899 19847 0 0 0 0 2882184 2653125 185239 43820 546117 502291 35442 8384 FOOD SERVICE 1420034 1361674 49434 8926 MAINTENANCE 722421 665135 48236 9050 STUDENT AND INSTRUCTION 718098 718098 0 0 0 0 0 0 37891469 31812593 5192613 886263 53840 64853 7892318 5908277 1500 538685 24314460 25013769 0 0 0 0 1769 4331 254572 268564 621552 499246 96625690 64694634 33166828 31931056 24951494 38497490 12374418 2643925 0 0 0 46893097 51403577 150525848 156773773 2510271 2326623 0 0 26172516 27749067 37482775 36378921 0 0 0 0 3301739 2996551 0 0 1089028 978286 70556329 70429448 30337253 31699340 49632266 54644985 79969519 86344325 150525848 156773773 232193 6142613 0 0 0 0 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8900 371619 X X false 83384010 279532 11282888 2209216 2606121 90131093 83692533 142855 8707274 7414787 1743865 83384010 101252374 92544 -12399206 3031895 2221284 83692533 80205462 176279 23614780 966829 1777318 101252374 85022345 109147 556435 2576524 2905941 80205462 0.43 0.21 0.36 true true true 353024 353024 77257621 50321813 26935808 0 0 0 15709239 11696019 4013220 3305806 2676802 629004 31931056 ALBUQUERQUE ACADEMY FOR BOYS TRUST #1 42594977 ALBUQUERQUE ACADEMY FOR BOYS TRUST #2 3601955 BOND DEBT SERVICE RESERVE FUND 2650000 SPLIT-INTEREST AGREEMENT 1005908 FINANCE LEASE ASSETS, NET 719940 COST OF ISSUANCE, NET 521690 CONSTRUCTION IN PROGRESS 66651 OPERATING LEASE ASSETS 171204 ACCRUED INVESTMENT INCOME 71252 Other Assets 51403577 FINANCE LEASE LIABILITIES 383361 ANNUITY AND SPLIT-INTEREST OBLIGATIONS 505049 OPERATING LEASE LIABILITIES 172184 INTEREST RATE SWAP LIABILITY -82308 978286 X Schedule D, Part III, Line 4 Collections of art - description of collections THE ACADEMY MAINTAINS A SMALL ART COLLECTION CONSISTING OF ITEMS DONATED TO THE SCHOOL. INCLUDED IN THIS COLLECTION IS A SERIES OF PHOTOGRAVURES, A FLEMISH TAPESTRY, AND SEVERAL OIL PAINTINGS (INCLUDING PORTRAITS OF MR. & MRS. SIMMS, MAJOR DONORS TO THE ACADEMY). THE ART COLLECTION IS CURRENTLY DISPLAYED IN VARIOUS VENUES ACROSS CAMPUS FOR THE EDIFICATION OF OUR STUDENTS AS WELL AS FOR THE ENJOYMENT OF VISITORS OF OUR CAMPUS. IT IS ANTICIPATED THAT ITEMS WITHIN THE COLLECTION WILL GROW IN VALUE OVER TIME AND MAY EVENTUALLY BE SOLD TO SUPPORT VARIOUS PROGRAMS AND INITIATIVES BENEFITING THE ACADEMY'S STUDENTS. DURING THE FISCAL YEAR ENDED JUNE 30, 2024, THE ACADEMY RECEIVED TWO NEW DONATIONS OF ART TO ADD TO ITS EXISTING COLLECTION. Schedule D, Part V, Line 4 Intended uses of endowment funds THE ACADEMY'S ENDOWMENT, CONSISTING OF PERMANENTLY RESTRICTED, TEMPORARILY RESTRICTED, AND QUASI-ENDOWMENT FUNDS, PROVIDES VITAL FINANCIAL SUPPORT FOR THE OVERALL MISSION OF THE ACADEMY. THE ENDOWMENT SUSTAINS OPPORTUNITIES OF REMARKABLE SCOPE, INCLUDING EXPERIENTIAL AND OUTDOOR EDUCATION, DEEP ACADEMIC EXCELLENCE, GLOBAL EXCHANGES AND LANGUAGES, AND SUSTAINABILITY INITIATIVES CLOSELY ATTUNED TO A CHANGING WORLD. THESE PROGRAMS MAKE THE STUDENT EXPERIENCE HERE ONE OF THE BROADEST IN INDEPENDENT EDUCATION. THE ENDOWMENT ALSO SUPPORTS OUR ADMISSION PROCESS AND GENEROUS FINANCIAL ASSISTANCE PROGRAM. THESE PROGRAMS ARE COMMITTED TO PROVIDING ACCESS TO THE ACADEMY FOR STUDENTS OF TALENT AND CHARACTER FROM THROUGHOUT THE CITY, REGION, AND (AT TIMES) COUNTRY AS THEY SEEK AN ENRICHED AND MEANINGFUL EDUCATIONAL EXPERIENCE. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE ACADEMY IS A NOT-FOR-PROFIT ORGANIZATION AND QUALIFIES AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). AS SUCH, THE ACADEMY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(A), EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. FOR THE YEAR ENDED JUNE 30, 2024, THE ACADEMY HAS DETERMINED THAT NO MATERIAL INCOME TAXES ARE DUE FOR ITS ACTIVITIES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT ANNUALLY REVIEWS ITS TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ACADEMY FILES INFORMATIONAL TAX RETURNS. IN THE NORMAL COURSE OF BUSINESS, THE ACADEMY IS SUBJECT TO EXAMINATION BY FEDERAL, STATE, LOCAL, AND FOREIGN JURISDICTIONS, WHERE APPLICABLE. AS OF JUNE 30, 2024, THE TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE MAJOR TAX JURISDICTIONS UNDER THE STATUTE OF LIMITATIONS FOR THE ACADEMY ARE FROM THE YEAR ENDED JUNE 30, 2020, AND FORWARD. THE ACADEMY WOULD RECOGNIZE ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THERE WERE NO SUCH INTEREST OR PENALTIES RECORDED FOR THE YEAR ENDED JUNE 30, 2024. true true true true true true true false false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY See Part II. Schedule E, Part I, Line 3 EXPLANATION OF NONDISCRIMINATION POLICY: THE ACADEMY ENROLLED 1,185 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2024. FEMALE STUDENTS ACCOUNTED FOR 50% OF TOTAL STUDENTS ENROLLED, MALE STUDENTS ACCOUNTED FOR 50% OF TOTAL STUDENTS ENROLLED. APPROXIMATELY 58% OF TOTAL STUDENTS ENROLLED REPRESENTED STUDENTS OF COLOR. STUDENTS OF COLOR FOR THE FISCAL YEAR ENDED JUNE 30, 2024, WERE REPRESENTED AS FOLLOWS: 2% AFRICAN AMERICAN, 12% ASIAN, 21% HISPANIC, LESS THAN 1% MIDDLE EASTERN, 2% NATIVE AMERICAN, 20% MULTI-ETHNIC, AND 43% CAUCASIAN. THE ACADEMY PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS WEBSITE. IN ADDITION, THE POLICY IS PRINTED ON ALL ADMISSION MATERIALS, FINANCIAL ASSISTANCE MATERIALS, AND THE SUMMER SESSION CATALOGUE. IT IS ALSO INCLUDED IN ALL MEDIA ADVERTISEMENTS. X X X false false false false false false false false false JULIANNE PUENTE HEAD OF SCHOOL 361340 0 0 0 0 0 40978 0 10808 0 413126 0 0 0 SHAWN RICKETTS CHIEF FINANCIAL OFFICER 192866 0 0 0 0 0 18397 0 12708 0 223971 0 0 0 CHRISTINE LENHART ASSOCIATE HEAD OF SCHOOL 135769 0 0 0 0 0 6882 0 40890 0 183541 0 0 0 STEPHANIE LEVY-LIPKOWTIZ ASSOCIATE HEAD OF SCHOOL 142804 0 0 0 0 0 9244 0 22435 0 174483 0 0 0 TARYN BACHIS ATHLETICS DIRECTOR 131768 0 0 0 0 0 8145 0 11567 0 151480 0 0 0 Schedule J, Part I, Line 3 SEE SCHEDULE O FOR DISCUSSION OF ESTABLISHING THE COMPENSATION OF THE ACADEMY'S HEAD OF SCHOOL. A Village of Los Ranchos de Albuquerque 850236091 545610BG1 2020-07-29 39088808 See Schedule K, Part IV. false false false A 39088808 2650000 640686 35798122 true false true true A false false false false 0.0 false false true A false false true false false false false false false A true Schedule K, Part VI In July 2020, the Academy requested the Village of Los Ranchos de Albuquerque, New Mexico issue $34,915,000 of Series 2020 bonds. The Series 2020 bonds were issued at a premium of $4,173,808, resulting in total proceeds of $39,088,808. The proceeds were used to refund the outstanding Series 2010 bonds, to fund a debt service reserve fund, and to pay issuance costs of the Series 2020 bonds. 22610 Financial aid Education X 2 8900 Market value X 1 15870 Cost X 4 59010 Other - FMV @ liquidation X Classic guitars 5 39350 Market value X GYM EQUIPMENT 4995 Other - donor estimate 2 false true true Schedule M, Part II The Academy uses the donated services of Bank of America/Merrill Lynch to liquidate non-cash contributions. Such liquidation usually is undertaken within days of receipt of the contribution. Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THE ACADEMY USES THE DONATED SERVICES OF BANK OF AMERICA/MERRILL LYNCH TO LIQUIDATE NON-CASH CONTRIBUTIONS. SUCH LIQUIDATION USUALLY IS UNDERTAKEN WITHIN DAYS OF RECEIPT OF THE CONTRIBUTION. Form 990, Part I, Line 1 MISSION STATEMENT THE ACADEMY WAS THE FORTUNATE RECIPIENT OF A TRANSFORMATIONAL DONATION OF LAND IN THE EARLY SIXTIES AND CHOSE TO USE THIS GIFT TO ENSURE ECONOMIC ACCESSIBILITY TO STUDENTS LIVING THROUGHOUT THE CITY OF ALBUQUERQUE AND THE REGION. TODAY THE ACADEMY OFFERS STUDENTS AN EDUCATION THAT IS WITHOUT EQUAL IN THE SOUTHWEST. STUDENTS FROM AREA SCHOOLS ARE SERVED BY TEACHERS WHO DELIVER THEIR SUBJECT MATTER IN CREATIVE AND ENGAGING WAYS. STUDENTS IN THE 6/7 DIVISION FOLLOW A NON-TRADITIONAL SCHEDULE THAT ALLOWS ADAPTABILITY IN AN EVER-CHANGING WORLD. STUDENTS IN THE 8/9 DIVISION ARE GIVEN THEIR OWN CAMPUS SPACE AND THEIR OWN ACCOUNTABILITY TO HELP THEM GROW INTO CONFIDENT YOUNG ADULTS. FOR THE 10/12 DIVISION, COURSEWORK INVOLVES INCREASINGLY PHILOSOPHICAL AND ANALYTICAL THOUGHT. ACADEMY STUDENTS SERVE THE COMMUNITY TO WHICH THEY BELONG, COMPETE IN A VARIETY OF COMPETITIVE SPORTS AND PARTICIPATE IN A VARIETY OF ACADEMIC CLUBS AND STUDENT ORGANIZATIONS. MOST ACADEMY STUDENTS ATTEND FOUR-YEAR COLLEGES AND UNIVERSITIES UPON GRADUATION, MANY OF THEM ENROLLING AT SOME OF THE BEST UNIVERSITIES IN THE COUNTRY. ADMISSION TO THE ACADEMY IS COMPETITIVE; APPROXIMATELY 71% OF THOSE WHO APPLIED FOR ENROLLMENT FOR THE 2023/24 SCHOOL YEAR WERE OFFERED ADMISSION. FOR THE 2023/24 SCHOOL YEAR, THE STUDENT BODY CONSISTED OF 50% BOYS and 50% GIRLS; 58% ARE STUDENTS OF COLOR, AND APPROXIMATELY 24% RECEIVED APPROXIMATELY $4.9 MILLION IN FINANCIAL ASSISTANCE. FINANCIAL ASSISTANCE IS BASED ON DEMONSTRATED FINANCIAL NEED; ONLY AFTER STUDENTS ARE ADMITTED AND THEIR NEEDS ARE ASSESSED MIGHT FINANCIAL ASSISTANCE BE OFFERED. Form 990, Part III, Line 1 ORGANIZATION'S MISSION WE BELIEVE THAT CHILDREN'S LIVES CHANGE WHEN THEIR NATURAL PASSION FOR LEARNING IS NURTURED AND TRANSFORMED INTO HABITS OF LIFE-LONG LEARNING AND REFLECTION. WE BELIEVE THAT THE WORLD CHANGES AS THESE CHILDREN LEARN TO SERVE OUR COUNTRY AND COMMUNITY WITH WISDOM, CONVICTION, AND COMPASSION. IN LIGHT OF THESE BELIEFS: WE SERVE STUDENTS OF TALENT AND CHARACTER, OFFERING THEM AN EDUCATION THAT BROADENS THEIR PERSPECTIVE, SHARPENS THEIR MINDS, STRENGTHENS THEIR BODIES, AND ENGAGES THEIR HEARTS. WE COMMIT TO CREATING A CARING, INCLUSIVE, AND JUST COMMUNITY, USING THE GEOGRAPHY AND CULTURE OF OUR HOME IN THE SOUTHWEST TO ENRICH OUR EDUCATIONAL PROGRAMS AND TO FOSTER CREATIVITY, PERSONAL BALANCE AND A CONNECTION TO THE NATURAL WORLD. WE DEVOTE OUR RESOURCES TO ENSURE ECONOMIC ACCESSIBILITY TO OUR STUDENTS AND TO SUPPORT THE WIDER COMMUNITY THROUGH OUTREACH AND COMMUNITY SERVICE. WE ENTRUST THIS MISSION TO OUR GRADUATES AND SUCCESSORS AS WE PRESERVE OUR RESOURCES AND SERVE THE CHILDREN OF GENERATIONS TO COME. Form 990, Part III, Line 4a STATEMENT OF PROGRAM ACCOMPLISHMENTS THE ACADEMY OPENED ITS DOORS IN THE FALL OF 1955 WITH 12 BOYS IN GRADES 7 THROUGH 9, TWO TEACHERS, AND FOUNDING HEAD WILLIAM WILBURN. CLASSES WERE HELD IN RENTED SPACE IN THE PARISH HALL OF ST. MICHAEL'S AND ALL ANGELS CHURCH. IN 1957, ENROLLMENT HAD GROWN TO 75 BOYS AND THE SCHOOL MOVED TO A 27-ACRE SITE ON NORTH EDITH BOULEVARD IN ALBUQUERQUE, NM. THE FIRST CLASS OF SEVEN BOYS GRADUATED IN 1960. IN 1966, THE SCHOOL MOVED TO ITS PRESENT LOCATION, AND IN 1967/68 WAS HOME TO 405 BOYS. GIRLS WERE ADMITTED BEGINNING IN 1973. FOR THE SCHOOL YEAR 2023/24, THE ACADEMY SERVED 1,185 GIRLS AND BOYS IN GRADES 6 THROUGH 12. THE ACADEMY'S REMARKABLE GROWTH WAS MADE POSSIBLE LARGELY THROUGH THE TRANSFORMATIONAL GIFT OF ALBERT G. SIMMS, A NEW MEXICO FINANCIER AND RANCHER, AND HIS WIFE, RUTH HANNA MCCORMICK SIMMS. IN THE EARLY 1960'S THE SIMMS GAVE OR BEQUEATHED TO THE ACADEMY (IN TRUST) MORE THAN 12,000 ACRES OF UNDEVELOPED LAND AND 8,000 SHARES OF ALBUQUERQUE NATIONAL BANK STOCK. THE UNDEVELOPED LAND HAS BEEN SOLD RESULTING IN THE ENDOWMENT THAT TODAY ENABLES EDUCATION IN A BEAUTIFUL AND UPLIFTING ENVIRONMENT, AND ALSO HAS PROVIDED THE SCHOOL ITS CAMPUS. THE UNIQUENESS OF THE ACADEMY IS DUE, IN LARGE PART, TO ITS COMMITMENT TO ITS ADMISSION POLICY, AND TO PROVIDING ACCESSIBILITY TO QUALIFIED STUDENTS FROM THROUGHOUT THE GREATER ALBUQUERQUE COMMUNITY. EVERY ACADEMY STUDENT BENEFITS FROM THE SCHOOL'S COMMITMENT TO ACCESSIBILITY AND AFFORDABILITY. DIRECT SUPPORT FROM THE ENDOWMENT COVERS APPROXIMATELY 14% OF THE COST NOT COVERED BY TUITION. A FURTHER COMMITMENT OF THE ACADEMY IS TO DIVERSITY AND DEDICATING THE SCHOOL'S RESOURCES TO CREATING AN ENVIRONMENT IN WHICH ALL STUDENTS CAN THRIVE. IT IS THE RESPONSIBILITY OF ALL THE SCHOOL'S CONSTITUENTS TO MAKE THIS ENVIRONMENT CONDUCIVE TO LEARNING AND TO FOSTER MUTUAL RESPECT FOR ONE ANOTHER. STUDENTS OF COLOR (INCLUDING STUDENTS OF MIDDLE EASTERN, HISPANIC, AFRICAN AMERICAN, ASIAN, AND NATIVE AMERICAN ANCESTRY) REPRESENTED APPROXIMATELY 58% OF THE TOTAL STUDENT POPULATION FOR THE 2023/24 SCHOOL YEAR. APPRECIATION FOR DIVERSITY IS ALSO EXTENDED TO THOSE OF VARIOUS SOCIOECONOMIC LEVELS. ACADEMY STUDENTS BENEFIT ACADEMICALLY FROM SMALL CLASSES (AVERAGING 12 STUDENTS PER CLASS) AND A TEACHER-TO-STUDENT RATIO OF 1:10. THE ACADEMY CURRICULUM IS RIGOROUS AND EXCLUSIVELY COLLEGE PREPARATORY. 25 ADVANCED PLACEMENT COURSES WERE OFFERED IN THE 2023/24 SCHOOL YEAR. THE 2024 GRADUATING CLASS HAD 16 NATIONAL MERIT SCHOLARSHIP SEMIFINALISTS AND 0 COMMENDED STUDENTS. THERE WERE 158 STUDENTS IN THE GRADUATING CLASS OF 2024. ALMOST ALL ACADEMY GRADUATES ENROLL IN A FOUR-YEAR COLLEGE OR UNIVERSITY IMMEDIATELY UPON GRADUATION. Form 990, Part III, Line 4c STATEMENT OF PROGRAM ACCOMPLISHMENTS SUMMER PROGRAM: THE ACADEMY SUMMER SESSION OFFERED THE OPPORTUNITY TO 1,302 CHILDREN OF THE GREATER ALBUQUERQUE COMMUNITY (MOST NON-AFFILIATED WITH THE REGULAR SCHOOL YEAR) TO PARTICIPATE IN AN ENRICHING AND EXCITING SUMMER EXPERIENCE DURING THE FISCAL YEAR ENDED JUNE 30, 2024. THE PROGRAM HAD DIVERSE CLASS OFFERINGS INCLUDING EARLY CHILDHOOD PROGRAMS, A DAY CAMP, VARIOUS SPORTS CAMPS AND SWIM INSTRUCTION FOR CHILDREN FROM PRESCHOOL TO HIGH SCHOOL. CREDIT CLASSES IN MATH AND SCIENCE ARE ALSO OFFERED TO HIGH SCHOOL STUDENTS. THE SUMMER PROGRAM HAS BEEN AN INTEGRAL PART OF THE ACADEMY SINCE 1984, REINFORCING THE SCHOOL'S UNIQUE MISSION OF ACCESSIBILITY, AFFORDABILITY, EXCELLENCE AND OUTREACH. AN IMPORTANT OUTREACH EFFORT IS THE MULTICULTURAL SUMMER HONORS PROGRAM, A SUMMER SCHOLARSHIP PROGRAM FOR ACADEMICALLY TALENTED AND MOTIVATED AFRICAN AMERICAN, NATIVE AMERICAN, HISPANIC, AND OTHER STUDENTS WHO WILL BE ENTERING THE FOURTH AND FIFTH GRADES. OVERALL, THE SUMMER PROGRAMS BUILD A BROADER SENSE OF COMMUNITY AS SUMMER STUDENTS AND THEIR SIBLINGS, AS WELL AS CHILDREN OF FACULTY AND ALUMNI, RETURN SUMMER AFTER SUMMER. THE SESSION IS STAFFED BY QUALIFIED AND TALENTED INDIVIDUALS WHO COME FROM THROUGHOUT NEW MEXICO AND THE WIDER NATIONAL AND INTERNATIONAL EDUCATIONAL COMMUNITY. COMMUNITY ACADEMY: COMMUNITY ACADEMY SUPPORTS THE ACADEMY'S COMMITMENT TO COMMUNITY OUTREACH AND LIFE-LONG LEARNING. COMMUNITY ACADEMY OFFERS A CONTINUING EVENING LECTURE SERIES, FREE OF CHARGE TO THE ENTIRE COMMUNITY, PRESENTED BY ACADEMY FACULTY, ALUMNI, AND COMMUNITY LEADERS WITH EXPERTISE IN THEIR FIELDS. Form 990, Part III, Line 4b STATEMENT OF PROGRAM ACCOMPLISHMENTS SAGE DINING SERVICES: THE ACADEMY DINING HALLS PROVIDE LUNCH EVERY SCHOOL DAY FOR STUDENTS, FACULTY AND STAFF. SAGE, THE SCHOOL'S FOOD SERVICES VENDOR, HAS SERVED INDEPENDENT SCHOOLS FOR OVER 25 YEARS. SAGE'S MISSION IS TO CREATE EXCEPTIONAL DINING EXPERIENCES THAT DELIGHT THE SENSES, INSPIRE MINDS AND FOSTER COMMUNITY. THEY PROVIDE NUTRITIOUS MEALS, PREPARED WITH CARE, PRESENTED IN AN ATTRACTIVE MANNER AND SERVED IN A FRIENDLY ATMOSPHERE BY A COURTEOUS STAFF. THE SAGE TEAM HAS BECOME A PART OF THE ACADEMY COMMUNITY, SHARING EVERY SUCCESS AND JOINING IN EVERY CELEBRATION. Form 990, Part III, Line 4d Other program services: CHARGER AQUATICS ("CAQ"): CAQ IS A COMPREHENSIVE, YEAR-ROUND AQUATICS PROGRAM THAT PROVIDES SWIMMERS IN THE GREATER ALBUQUERQUE AREA WITH OPPORTUNITIES TO LEARN, PARTICIPATE, AND COMPETE IN THE SCHOOL'S NATATORIUM AND IS OFFERED AS PART OF THE SCHOOL'S ONGOING COMMITMENT TO PROVIDE SERVICE AND OUTREACH TO THE COMMUNITY AT LARGE. CAQ OFFERS MEMBERSHIP IN USA-SANCTIONED CLUBS, INCLUDING USA SWIMMING AND US MASTERS SWIMMING, ALONG WITH A SELECTION OF NON-MEMBER AQUATICS CLASSES SUCH AS SWIM LESSONS AND LIFEGUARD CERTIFICATION. TOTAL ENROLLMENT FOR ALL PROGRAMS WAS 299 FOR THE FISCAL YEAR ENDED JUNE 30, 2024. THE FINANCIAL RESULTS DIRECTLY BELOW REPRESENT CAQ AND ALL OTHER PROGRAM SERVICES EXPENSES AND REVENUES: EXPENSES $694,454. INCLUDING GRANTS OF $0. REVENUE $1,624,037 Form 990, Part III, Line 4d Description of other program services (Expenses $ 694,453 including grants of $ 0)(Revenue $ 1,624,037) Other program services: Form 990, Part VI, Line 11b Review of form 990 by governing body FORM 990 IS PREPARED BY THE ACADEMY'S CONTROLLER WITH A REVIEW BY AN EXTERNAL TAX PREPARER. THE BOARD OF TRUSTEES' AUDIT & RISK COMMITTEE MEMBERS WITH ACADEMY EMPLOYEES (HEAD OF SCHOOL AND CHIEF FINANCIAL OFFICER) REVIEW THE FORM IN DETAIL PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE (IRS). TRUSTEE MEMBERS UTILIZE THIS TIME TO ASK QUESTIONS, CLARIFY DATA AND MAKE SUGGESTIONS FOR ANY CHANGES. ANY AGREED UPON CHANGES ARE INCORPORATED INTO THE FORM, WITH A FINAL REVIEW UNDERTAKEN BY THE CONTROLLER, CHIEF FINANCIAL OFFICER AND EXTERNAL TAX PREPARER. THE FORM IS SUBMITTED ELECTRONICALLY TO THE IRS IN A TIMELY MANNER. THE BOARD OF TRUSTEES RECEIVES THE FORM 990 PRIOR TO THE FILING OF THE RETURN. THE ACADEMY VALUES THOSE FEW DONORS WHO REQUEST THAT THEY REMAIN ANONYMOUS TO THE COMMUNITY. TO THAT END, TO PROTECT SUCH DONORS AND KEEP THE SCHOOL'S ALBUQUERQUE ACADEMY 85-0129165 PROMISE THAT THEIR IDENTITY WILL NOT BE WIDELY KNOWN, SCHEDULE B OF FORM 990 IS NOT PROVIDED TO ALL TRUSTEES OF THE ACADEMY. ALL OTHER PORTIONS OF THE FORM 990 ARE PROVIDED TO ALL TRUSTEES. TO BE SURE THE BOARD IS AWARE OF GIFTS AND TO PROTECT THE ORGANIZATION FROM THE POTENTIAL OF INAPPROPRIATE GIFTS TO THE SCHOOL, THE BOARD CHAIR, MEMBERS OF THE AUDIT & RISK COMMITTEE, HEAD OF SCHOOL, CHIEF FINANCIAL OFFICER, AND DIRECTOR OF ADVANCEMENT ARE FULLY AWARE OF THE IDENTITY OF ALL DONORS. SHOULD ANY ONE OF THEM DETERMINE THAT A DONATION MIGHT BE INAPPROPRIATE OR POSE A CONFLICT WITH THE ORGANIZATION, THEY ARE CHARGED WITH RAISING THE ISSUE WITH THE FULL BOARD. THE ACADEMY PUBLISHES A COMPREHENSIVE GIVING REPORT ON AN ANNUAL BASIS THAT IS AVAILABLE TO THE PUBLIC. Form 990, Part VI, Line 12c Conflict of interest policy THE CONFLICT OF INTEREST STATEMENT IS DIRECTED TO THE TRUSTEES, OFFICERS, THOSE WHO MAKE PURCHASING DECISIONS, ALL PERSONS WHO ARE DESCRIBED AS MANAGEMENT PERSONNEL, AND TO ANYONE WHO HAS PROPRIETARY INFORMATION CONCERNING THE ACADEMY. EACH INDIVIDUAL MUST SIGN A STATEMENT ANNUALLY WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. THE CONFLICT OF INTEREST STATEMENT REQUIRES THAT INDIVIDUALS REFRAIN FROM VOTING OR PARTICIPATING IN ANY MATTER OR ISSUE IN WHICH THEY HAVE ANY POTENTIAL CONFLICT OF INTEREST. THIS IS TO ENSURE THE ACADEMY OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. PERIODIC REVIEW SHALL, AT A MINIMUM, INCLUDE WHETHER TRANSACTIONS BETWEEN EMPLOYEES AND THE ACADEMY ARE NEGOTIATED AS THE RESULT OF "ARM'S LENGTH BARGAINING WHETHER PARTNERSHIPS, JOINT VENTURES AND ANY OTHER BUSINESS ARRANGEMENTS WITH THE SCHOOL ARE PROPERLY RECORDED. TRANSACTIONS ARE ALBUQUERQUE ACADEMY 85-0129165 FURTHER REVIEWED TO ENSURE THEY REFLECT REASONABLE INVESTMENT OR PAYMENT FOR GOODS AND SERVICES, THEY FURTHER CHARITABLE PURPOSES AND THEY DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR ANY EXCESS BENEFIT TRANSACTION. ACCOUNTING AND OTHER PERSONNEL ARE ENCOURAGED TO REPORT A SITUATION INVOLVING A POTENTIAL CONFLICT OF INTEREST TO AN APPROPRIATE SCHOOL OFFICIAL. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES TAKES RESPONSIBILITY FOR THE EVALUATION OF ITS DIRECT REPORT, THE HEAD OF SCHOOL, AND FOR THE DETERMINATION OF COMPENSATION FOR THIS INDIVIDUAL. THE EXECUTIVE COMMITTEE CONSISTS OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, ASSISTANT SECRETARY, TREASURER, AND TWO AT-LARGE BOARD MEMBERS APPOINTED BY THE CHAIR. ALL BOARD MEMBERS, INCLUDING THE MEMBERS OF THE EXECUTIVE COMMITTEE, SUBMIT A CONFLICT-OF-INTEREST DISCLOSURE STATEMENT TO THE CHAIR OF THE BOARD ANNUALLY. THESE ARE UTILIZED TO DETERMINE THAT THE COMMITTEE MEMBERS DO NOT HAVE ANY UNDISCLOSED CONFLICTS OF INTEREST AND THEY DO NOT HAVE ANY DIRECT FINANCIAL INTEREST IN THE COMPENSATION PROVIDED TO THE HEAD OF SCHOOL. IN ADDITION, AT THE TIME THE EXECUTIVE COMMITTEE CONSIDERS COMPENSATION QUESTIONS, EACH COMMITTEE MEMBER IS ASKED AGAIN TO CONFIRM THAT THEY DO NOT HAVE ANY CONFLICTS OF INTEREST. THE EXECUTIVE COMMITTEE HAS, IN SOME YEARS, RETAINED A COMPENSATION CONSULTANT INTIMATELY FAMILIAR WITH COMPENSATION FOR THE HEADS OF INDEPENDENT SCHOOLS BOTH IN THE REGION AND NATIONALLY. THE CONSULTANT HAS NO FINANCIAL OR OTHER INTEREST IN THE COMPENSATION DECISIONS MADE. THE EXECUTIVE COMMITTEE MAINTAINS MINUTES OF ITS MEETINGS, INCLUDING THOSE IN WHICH COMPENSATION MATTERS ARE CONSIDERED. THE CHAIR OF THE BOARD REPORTS THE COMPENSATION DECISIONS TO THE FULL BOARD. A COMPENSATION CONSULTANT WAS NOT RETAINED FOR THE FISCAL YEAR ENDING JUNE 30, 2024. PURSUANT TO IRC SECTION 4958 GUIDELINES, THE HEAD OF SCHOOL DOES NOT SERVE AS A TRUSTEE; HE OR SHE HAS HAD NO ROLE IN THE SETTING OF THEIR COMPENSATION IN THIS OR ANY PREVIOUS YEAR OF THEIR EMPLOYMENT; COMPENSATION IS IN THE FORM OF CASH PAYMENTS TO THE RECIPIENT AND DEFERRALS TO A 457B PLAN; THE HEAD OF SCHOOL IS ELIGIBLE FOR OTHER NON-CASH BENEFITS PROVIDED TO ALL OTHER EMPLOYEES OF THE SCHOOL, NONE OF THE MEMBERS OF THE EXECUTIVE COMMITTEE RECEIVE ANY COMPENSATION FROM THE SCHOOL; AND THE MEMBERS OF THE COMMITTEE HAVE REVIEWED COMPARABILITY DATA BEFORE REACHING A DECISION ON COMPENSATION LEVELS. Form 990, Part VI, Line 19 Required documents available to the public ALBUQUERQUE ACADEMY KEEPS AN ELECTRONIC RECORD (UPDATED ANNUALLY) OF FINANCIAL INSTITUTIONS, BONDHOLDERS, AND VENDORS WHO HAVE REQUESTED A COPY OF THE ACADEMY'S AUDITED FINANCIAL STATEMENTS AS A CONDITION OF PROVIDING CREDIT AND SERVICES TO THE SCHOOL. AFTER THE FINANCIAL STATEMENT AUDIT IS COMPLETED AND ACCEPTED BY THE BOARD OF TRUSTEES, ELECTRONIC COPIES OF THE STATEMENTS ARE DISTRIBUTED TO ALL REQUIRED ENTITIES. THE ACADEMY DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY STATEMENTS AVAILABLE TO THE PUBLIC. Form 990, Part VIII, Column (A) STATEMENT OF REVENUE THE ACADEMY'S AUDITED FINANCIAL STATEMENTS NET FINANCIAL ASSISTANCE AWARDED AGAINST GROSS TUITION REVENUE. FOR THE FISCAL YEAR ENDED 2024, THE ACADEMY AWARDED FINANCIAL ASSISTANCE TO APPROXIMATELY 286 STUDENTS. THE ASSISTANCE AWARDED IS A REDUCTION TO THE TOTAL COST OF TUITION. THE ACADEMY DOES NOT PROVIDE CASH AWARDS. FINANCIAL ASSISTANCE IS AWARDED BASED SOLELY UPON DEMONSTRATED FINANCIAL NEED. A FAMILY'S NEED IS ASSESSED ANNUALLY THROUGH A COMPREHENSIVE SCREENING PROCESS. THE ANNUAL PROCESS REQUIRES THAT THE FAMILY COMPLETE AN APPLICATION AND PROVIDE THE ACADEMY WITH A FULL SET OF TAX RETURNS INCLUDING ALL SUPPORTING SCHEDULES. TO DETERMINE THE APPROPRIATE FINANCIAL ASSISTANCE, THE ACADEMY UTILIZES A STANDARD METHODOLOGY PROVIDED BY SCHOOL AND STUDENT SERVICES ("SSS") WHICH IS USED BY INDEPENDENT SCHOOLS NATIONWIDE. THIS METHODOLOGY CALCULATES A CONTRIBUTION FOR EACH INDIVIDUAL FAMILY BASED UPON THE FAMILY'S SPECIFIC FINANCIAL SITUATION AND DISCRETIONARY INCOME. PRIOR TO MAKING AN AWARD, EACH APPLICANT'S FILE AND PROPOSED AWARD IS CAREFULLY REVIEWED BY A COMMITTEE TO ENSURE THE DECISIONS ARE BASED ON CONSISTENT APPLICATION OF NEED BASED CRITERIA. ASSISTANCE IS AWARDED TO STUDENTS AS A REDUCTION IN THEIR TUITION, LUNCH FEES, AND/OR OTHER ACADEMIC FEES. NO CASH IS DISTRIBUTED TO RECIPIENTS. FINANCIAL ASSISTANCE IS AWARDED ANNUALLY AND EACH YEAR APPLICANTS MUST REAPPLY BY SUBMITTING A NEW APPLICATION AND CURRENT TAX DOCUMENTATION. IN ADDITION TO A COMMITTEE REVIEW OF EACH AWARD, THE FINANCIAL ASSISTANCE OFFICE OF THE ACADEMY CONDUCTS A RANDOM AUDIT OF FILES ANNUALLY AS ANOTHER MEASURE TO ENSURE THAT FINANCIAL ASSISTANCE IS BEING AWARDED APPROPRIATELY AND THE PROPER SUPPORTING DOCUMENTATION WAS SUBMITTED AS PART OF THE APPLICATION PROCESS. ON A MONTHLY BASIS, THE ACCOUNTING OFFICE OF THE ACADEMY COMPARES THE FINANCIAL ASSISTANCE SUBSIDIARY LEDGER POSTINGS TO A LIST OF AWARDS PROVIDED BY THE FINANCIAL ASSISTANCE OFFICE TO ENSURE THERE ARE NO DISCREPANCIES BETWEEN THE TWO AMOUNTS. ANY DISCREPANCIES ARE PROMPTLY RESEARCHED AND RESOLVED. Form 990, Part VIII, Line 2f Other Program Service Revenue - Total Revenue: 516681, Related or Exempt Function Revenue: 516681, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Other Revenue - Total Revenue: 6115, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 6115; Form 990, Part IX, Line 9 STATEMENT OF FUNCTIONAL EXPENSES AS A BENEFIT TO ITS EMPLOYEES THE ACADEMY PROVIDES TUITION REMISSION TO STUDENTS OF EMPLOYEES. TUITION REMISSION IS A REDUCTION IN TUITION AND THE ACADEMY AWARDS NO CASH OR NON-CASH GRANTS AS REMISSION. FOR THE FISCAL YEAR ENDING JUNE 30, 2024, THE ACADEMY'S AUDITED FINANCIAL STATEMENTS PRESENT TUITION REMISSION AS AN EXPENSE INSTEAD OF NETTING IT AGAINST GROSS TUITION REVENUE. THE ACADEMY ACCOUNTING OFFICE RECONCILES TUITION REMISSION EXPENSE EACH MONTH TO SUPPORTING DOCUMENTATION. ANY DISCREPANCIES ARE REVIEWED AND CORRECTED AS NEEDED. Form 990, Part XII, Line 2c FINANCIAL STATEMENTS AND REPORTING THE ACADEMY HAS AN AUDIT AND RISK COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT AUDIT AND THE RESULTING FINANCIAL STATEMENTS. THE AUDIT AND RISK COMMITTEE IS ALSO RESPONSIBLE FOR ASSESSING AND SELECTING THE EXTERNAL AUDIT FIRM OF THE ACADEMY. THE ACADEMY DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS FOR THE APPOINTMENT OF ITS EXTERNAL AUDIT FIRM DURING THE TAX YEAR CURRENTLY BEING REPORTED ON. ALBUQUERQUE ACADEMY EDUCATIONAL FOUNDATION 6400 WYOMING BLVD NE ALBUQUERQUE NM 871093899 850381395 SUPPORT NEW MEXICO ISAS SCHOOLS NM 501(c)(3) Type I ALBUQUERQUE ACADEMY true ALBUQUERQUE ACADEMY FOR BOYS TRUST #1 1300 MERRILL LYNCH DRIVE PENNINGTON NJ 085341501 856008015 PROVIDE DISTRIBUTIONS TO ALBUQUERQUE ACADEMY FOR EDUCATIONAL EXPENDITURES NM 501(c)(3) Type III-O NA false ALBUQUERQUE ACADEMY FOR BOYS TRUST #2 1300 MERRILL LYNCH DRIVE PENNINGTON NJ 085341501 856014105 PROVIDE DISTRIBUTIONS TO ALBUQUERQUE ACADEMY FOR EDUCATIONAL EXPENDITURES NM 501(c)(3) PF NA false ALBUQUERQUE ACADEMY STUDENT SUPPORT FOUNDATION 6400 WYOMING BLVD NE ALBUQUERQUE NM 871093899 205895188 PROVIDE SUPPORT TO ALBUQUERQUE ACADEMY NM 501(c)(3) Type I ALBUQUERQUE ACADEMY true HIGH DESERT INVESTMENT CORPORATION 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 850394108 REAL ESTATE DEVELOPMENT NM ALBUQUERQUE ACADEMY C Corporation 0 0 false false false true false false false false false false false false false false false false false false false false Schedule R, Part IV HIGH DESERT INVESTMENT CORPORATION THE FOLLOWING FOOTNOTE DISCLOSURE WAS INCLUDED IN THE ACADEMY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2024: IN 1991, THE ACADEMY'S BOARD OF TRUSTEES FORMED HIGH DESERT INVESTMENT CORPORATION (HIGH DESERT), A FOR-PROFIT ENTITY FOR THE INITIAL PURPOSE OF ACQUIRING AND DEVELOPING PROPERTY OWNED BY THE ACADEMY IN THE FOOTHILLS OF THE SANDIA MOUNTAINS IN ALBUQUERQUE. HIGH DESERT CEASED OPERATIONS IN 2012. THE FINANCIAL ACTIVITIES OF THE ACADEMY AND HIGH DESERT INVESTMENT CORPORATION, ARE REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS, AND ALL SIGNIFICANT INTER-ENTITY TRANSACTIONS ARE ELIMINATED IN CONSOLIDATION.