2026-05-11T13:29:16-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 6501 AMERICAS PARKWAY NE SUITE 500 ALBUQUERQUE NM 87110 990 2024-07-01 850129165 ALBUQUERQUE ACADEMY ALBU 5058283200 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 SHAWN RICKETTS CFOO 5058283200 2026-05-06 1 1 JESSICA LOCKER CPA P01367046 5058428290 2026-04-29 2024 2025-03-06 01:10:19Z JULIANNE PUENTE 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 67427420 0 X WWW.AA.EDU X 1955 NM ALBUQUERQUE ACADEMY IS A NON-DENOMINATIONAL, COEDUCATIONAL, INDEPENDENT DAY SCHOOL. 24 24 858 359 0 0 3545850 3746482 30399508 37142958 3691315 4084036 486989 555149 38123662 45528625 0 5286928 0 0 24643184 24736221 0 0 1054027 13248285 14572643 37891469 44595792 232193 932833 156773773 161806665 70429448 68866824 86344325 92939841 X SEE SCHEDULE O 0 0 33529034 4993744 32386852 ALBUQUERQUE ACADEMY IS A NATIONALLY RECOGNIZED INDEPENDENT, COLLEGE PREPARATORY 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. 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 2024/25, THE ACADEMY SERVED 1,198 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 12% 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 57% OF THE TOTAL STUDENT POPULATION FOR THE 2024/25 SCHOOL YEAR. APPRECIATION FOR DIVERSITY IS ALSO EXTENDED TO THOSE OF VARIOUS SOCIOECONOMIC LEVELS.ACADEMY STUDENTS BENEFIT ACADEMICALLY FROM SMALL CLASSES (AVERAGING 13 STUDENTS PER CLASS) AND A TEACHER-TO-STUDENT RATIO OF 1:10.THE ACADEMY CURRICULUM IS RIGOROUS AND EXCLUSIVELY COLLEGE PREPARATORY. 24 ADVANCED PLACEMENT COURSES WERE OFFERED IN THE 2024/25 SCHOOL YEAR. THE 2025 GRADUATING CLASS HAD 17 NATIONAL MERIT SCHOLARSHIP SEMIFINALISTS AND 3 COMMENDED STUDENTS. THERE WERE 167 STUDENTS IN THE GRADUATING CLASS OF 2025. ALMOST ALL ACADEMY GRADUATES ENROLL IN A FOUR-YEAR COLLEGE OR UNIVERSITY IMMEDIATELY UPON GRADUATION. 2284356 0 1893407 SUMMER PROGRAMTHE ACADEMY SUMMER SESSION OFFERED THE OPPORTUNITY TO 1,311 CHILDREN OF THE GREATER ALBUQUERQUE COMMUNITY (MOST NONAFFILIATED WITH THE REGULAR SCHOOL YEAR) TO PARTICIPATE IN AN ENRICHING AND EXCITING SUMMER EXPERIENCE DURING THE FISCAL YEAR ENDED JUNE 30, 2025. THE PROGRAM HAD MANY 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. 2076420 203892 1651783 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 24 YEARS. SAGE'S MISSION IS OT 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. 975503 89292 622718 CHARGER AQUATICS ("CAO"):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 338 FOR THE FISCAL YEAR ENDED JUNE 30, 2025. 0 0 588198 OTHER AUXILARIES 975503 89292 1210916 38865313 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 1 76 0 1 858 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NM X KYNDRA APODACA 5058283200 6400 WYOMING BLVD NE ALBUQUERQUE NM 87109 DIANE HARRISON OGAWA CHAIR 10.00 X X 0 0 0 MOLLY CHEVES VICE CHAIR 5.00 X X 0 0 0 THOMAS SMIDT III TREASURER 5.00 X X 0 0 0 CHRIS BUTTNER SECRETARY 5.00 X X 0 0 0 CHRISTINA SHEEHAN ASSISTANT SECRETARY 5.00 X X 0 0 0 PATRICK APODACA GENERAL TRUSTEE 3.00 X 0 0 0 LIA ARMSTRONG GENERAL TRUSTEE 3.00 X 0 0 0 CHRISTINA BACHICHA GENERAL TRUSTEE 3.00 X 0 0 0 NOTAH BEGAY III GENERAL TRUSTEE 3.00 X 0 0 0 ALEJANDRO GRINE GENERAL TRUSTEE 3.00 X 0 0 0 LISSA HINES GENERAL TRUSTEE 3.00 X 0 0 0 ADAM HONEGGER GENERAL TRUSTEE 3.00 X 0 0 0 FRANCINE JACOBS GENERAL TRUSTEE 3.00 X 0 0 0 CHRIS JILLSON GENERAL TRUSTEE 3.00 X 0 0 0 ALICIA KEYES GENERAL TRUSTEE 3.00 X 0 0 0 RONALD W MOYA GENERAL TRUSTEE 3.00 X 0 0 0 CHAMIZA PACHECO DE ALAS GENERAL TRUSTEE 3.00 X 0 0 0 ERIKA RIMSON GENERAL TRUSTEE 3.00 X 0 0 0 VALERIE ROMERO-LEGGOTT GENERAL TRUSTEE 3.00 X 0 0 0 JENNIFER SCRIVNER GENERAL TRUSTEE 3.00 X 0 0 0 ALAN SHETTLESWORTH GENERAL TRUSTEE 3.00 X 0 0 0 CHANDLER TODD GENERAL TRUSTEE 3.00 X 0 0 0 DIANNE TOHEN GENERAL TRUSTEE 3.00 X 0 0 0 BARRETT YATES MACK GENERAL TRUSTEE 3.00 X 0 0 0 JULIANNE PUENTE HEAD OF SCHOOL 40.00 X 367203 0 56388 SHAWN RICKETTS CHIEF FINANCIAL & OPERATIONS OFFICER 40.00 X 197930 0 35038 CHRISTINE LENHART ASSOCIATE HEAD OF SCHOOL 40.00 X 137927 0 70873 STEPHANIE LEVY-LIPKOWITZ ASSOCIATE HEAD OF SCHOOL 40.00 X 141717 0 36929 JOSEPH WEISS DIRECTOR OF ADVANCEMENT 40.00 X 135248 0 27423 TARYN BACHIS ATHLETICS DIRECTOR 40.00 X 132818 0 10481 AMY EGLINTON KELLER EXTERNAL RELATIONS DIRECTOR 40.00 X 122065 0 7108 1234908 0 244240 15 0 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD LUTHERVILLE MD 21 LUTHERVILLE MD 210093602 CAFETERIA & FOOD SERVICES 1590813 INTRAWORKS INC 7910 LORRAINE COURT NE ALBUQUERQUE NM 87113 SECURITY & SAFETY SYSTEMS 219879 ADVANTAGE COURTS LLC PO BOX 8518 AMARILLO TX 79114 RACQUET COURT SERVICES 170900 TRIPLE ACTION SERVICES LLC 3915 BRYAN AVE NW ALBUQUERQUE NM 87114 PLUMBING SERVICES 149781 LEVEL 3 COMMUNICATIONS LLC PO BOX 910182 DENVER CO 80291 INTERNET & PHONE LINES 109494 6 26481 3720001 84075 3746482 TUITION AND FEES 611110 32386852 32386852 SUMMER AND OUTREACH 611110 1893407 1893407 CAFETERIA SERVICES 722514 1651783 1651783 AQUATICS PROGRAM 611620 622718 622718 OTHER AUXILARIES 611110 588198 588198 37142958 2604471 2604471 22896965 21417400 1479565 1479565 1479565 819261 481395 337866 337866 MISC. REVENUE 900099 200772 200772 RETIREMENT PLAN REVENU 525110 15982 15982 PURCHASE CARD REBATE 900099 529 529 217283 45528625 37142958 0 4639185 5286928 5286928 652367 320617 256568 75182 18771872 16599065 1531905 640902 826078 752086 56224 17768 3076190 2938114 104331 33745 1409714 1248887 122291 38536 82605 64191 16740 1674 164591 164591 413558 413558 1894535 1601431 251654 41450 193491 150359 39211 3921 360623 276723 76274 7626 441891 343388 89549 8954 2088403 1692583 366498 29322 702069 685183 7089 9797 261861 203489 53066 5306 1194448 1140088 37615 16745 2817970 2570834 209375 37761 581792 452104 117900 11788 STUDENT AND INSTRUCTION 738742 479638 235552 23552 MEALS AND ENTERTAINMENT 430213 376510 47027 6676 CAPITAL EXPENSES 413275 333552 73927 5796 SUPPLIES AND MATERIALS 382454 296567 78080 7807 1410122 1052976 327427 29719 44595792 38865313 4676452 1054027 64853 68616 6829843 6395216 538685 1518062 25013769 25198947 4331 13436 268564 282294 499246 698812 97227207 66930419 31997708 30296788 83772857 90226806 2643925 2300929 5139992 4806759 156773773 161806665 2326623 2335462 27749067 28038596 36378921 35260942 2996551 2060534 978286 1171290 70429448 68866824 X 31699340 23123317 54644985 69816524 86344325 92939841 156773773 161806665 X 932833 5665130 -2447 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 371619 X X 0 90537179 993824 9279461 3046215 466332 97297917 83384010 279532 10741488 2393384 1474467 90537179 83692533 142855 8707274 7414787 1743865 83384010 101252374 92544 -12399206 3031895 2221284 83692533 80205462 176279 23614780 966829 1777318 101252374 0.33000 0.21000 0.46000 1 1 1 353024 353024 77511427 51712906 25798521 15990422 12530244 3460178 3372334 2687269 685065 30296788 LEASE LIABILITIES 661001 ANNUITY AND SPLIT-INTEREST OBLIGATIONS 510289 1171290 X 45973087 5665130 -5289375 375755 45597332 413558 -482265 -68707 45528625 39377571 482265 482265 38895306 413558 5286928 5700486 44595792 PART III, LINE 4: 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. PART V, LINE 4: 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. PART X, LINE 2: 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, 2025 AND 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 AND FEDERAL AND STATE INCOME 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, 2025, 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, 2021, AND FORWARD. THE ACADEMY WOULD RECOGNIZE ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. THERE WERE NO SUCH INTEREST OR PENALTIES RECORDED FOR THE YEAR ENDED JUNE 30, 2025 OR 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON AFS -5,286,928. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -57,017. CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS 54,570. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS REPORTED AS EXPENSE ON AFS -870. COST OF GOODS SOLD -481,395. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS REPORTED AS EXPENSE ON AFS 870. COST OF GOODS SOLD 481,395. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON AFS 5,286,928. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE ACADEMY PUBLISHES ITS RACIALLY NONDESCRIMINATORY 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. 1 FINANCIAL ASSISTANCE 295 5286928 0 N/A N/A PART I, LINE 2: ALL AID IS APPLIED TO STUDENT ACCOUNTS BASED ON FINANCIAL NEED, SO NO ADDITIONAL MONITORING IS DEEMED NECESSARY. X X X 0 0 0 0 0 0 0 0 1 0 JULIANNE PUENTE HEAD OF SCHOOL 367203 0 0 0 0 0 43700 0 12688 0 423591 0 0 0 SHAWN RICKETTS CHIEF FINANCIAL & OPERATIONS OFFICER 197930 0 0 0 0 0 22453 0 12585 0 232968 0 0 0 CHRISTINE LENHART ASSOCIATE HEAD OF SCHOOL 137927 0 0 0 0 0 29983 0 40890 0 208800 0 0 0 STEPHANIE LEVY-LIPKOWITZ ASSOCIATE HEAD OF SCHOOL 141717 0 0 0 0 0 11364 0 25565 0 178646 0 0 0 JOSEPH WEISS DIRECTOR OF ADVANCEMENT 110248 0 25000 0 0 0 5824 0 21599 0 162671 0 0 0 PART I, LINE 8 BONUSES ARE WRITTEN INTO EMPLOYMENT CONTRACTS. A VILLAGE OF LOS RANCHOS DE ALBUQUERQUE 850236091 545610BG1 2020-07-29 39088808 SEE PART VI 0 0 0 A 39088808 2650000 640686 35798122 2020 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, LINE A(F) IN JULY 2020, THE ACADEMY REQUESTED THE VILLAGE OF LOS RANCHEROS DE ALBUQUERQUE, NEW MEXICO ISSUE $34,915,000 OF THE 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. 12631 FINANCIAL AID FINANCIAL AID X 14900 FMV X 2 32793 FMV X EQUIPMENT - SURGE PROTECTOR 1 30736 FMV X SOCIAL DINNER 1 5646 COST 0 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART I, LINE 1 THE ACADEMY WAS THE FORTUNATE RECIPIENT OF A TRANSFORMATION 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 THE 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 72 OF THOSE WHO APPLIED FOR THE ENROLLMENT FOR THE YEAR 2024/25 SCHOOL YEAR WERE OFFERED ADMISSION. FOR THE 2025/24 SCHOOL YEAR, THE STUDENT BODY CONSISTED OF 51% BOYS AND 49% GIRLS AND 1% NON-BINARY. 57% ARE STUDENTS OF COLOR AND APPROXIMATELY 25% RECEIVED APPROXIMATELY $5.3 MILLION IN FINANCIAL ASSISTANCE. FINANCIAL ASSISTANCE IS BASED ON DEMONSTRATED FINANCIALS NEED; ONLY AFTER STUDENTS ARE ADMITTED AND THEIR NEEDS ARE ASSESSED MIGHT FINANCIAL ASSISTANCE BE OFFERED. FORM 990, PART III, LINE 1 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. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, THE VICE CHAIR, THE TREASURER, THE SECRETARY, THE ASSISTANT SECRETARY AND TWO (2) OTHER TRUSTEES APPOINTED BY THE CHAIR, WITH THE CHAIR AND VICECHAIR OF THE BOARD OF TRUSTEES SERVING RESPECTIVELY AS CHAIR AND VICECHAIR OF THE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL, BETWEEN MEETINGS OF THE BOARD, EXERCISE ALL POWERS AND AUTHORITY OF THE BOARD, EXCEPT TO CHANGE THE NUMBER OF TRUSTEES, OR TO AMEND THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B 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 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, SECTION B, LINE 12C 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 ANNYALLY WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST 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 AND WHETHER PARTNERSHIPS, JOINT VENTURES AND ANY OTHER BUSINESS ARRANGEMENTS WITH THE SCHOOL ARE PROPERLY RECORDED. TRANSACTIONS ARE 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. IF A CONFLICT OF INTEREST HAS BEEN FOUND TO EXIST, THE INTERESTED PERSON IS REMOVED FORM ANY VOTING AND DISCUSSIONS REGARDING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A 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, 2025. 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. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 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 XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -57,017. CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS 54,570. FORM 990, PART XII, LINE 2C: 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 SELECTIN 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. 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