Salisbury School Inc
- Assets
- $220.1m
- Revenue
- $31.9m
- Investments
- $65.4m
- Employees
- 222
- Location
- Salisbury, CT
- Founding
- 12/1959
- Data as of
- 06/2021
- EIN
- 06-0646888
Organization Overview
Salisbury School Inc is located in Salisbury, CT. The organization was established in 1959. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Salisbury School Inc employed 222 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salisbury School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Salisbury School Inc generated $31.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $26.7m during the year ending 06/2021. While expenses have increased by 0.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION: SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL(GRADES 9 THROUGH 12) FOR BOARDING AND DAY STUDENTS. THESCHOOL RECRUITS STUDENTS FROM AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL (GRADES 9 THROUGH 12) FOR APPROXIMATELY 307 BOARDING AND DAY STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Campbell Langdon Co-Chair | OfficerTrustee | 1 | $0 |
David Leavy Co-Chair | OfficerTrustee | 1 | $0 |
Matthew Barzun Vice Chair | OfficerTrustee | 1 | $0 |
Robert Zabel Vice Chair | OfficerTrustee | 1 | $0 |
Gregory Johnson Treasurer | OfficerTrustee | 1 | $0 |
John Lambros Vice Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Enterprise Builders Inc Construction Management | 6/29/22 | $589,089 |
Ginsberg's Foods Food Services | 6/29/22 | $434,069 |
Hickory Split Farm Site Development | 6/29/22 | $400,000 |
Us Foodservice Inc Food Services | 6/29/22 | $268,003 |
Cambridge Associates Llc Investment Consultants | 6/29/22 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,529,924 |
| Investment income | $1,840,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,782,020 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,894,355 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,581,608 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,533,862 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,020,306 |
| Pension plan accruals and contributions | $528,415 |
| Other employee benefits | $1,330,255 |
| Payroll taxes | $624,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,622 |
| Fees for services: Accounting | $77,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $488,337 |
| Fees for services: Other | $809,990 |
| Advertising and promotion | $85,009 |
| Office expenses | $393,062 |
| Information technology | $359,490 |
| Royalties | $0 |
| Occupancy | $1,279,026 |
| Travel | $20,280 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,561 |
| Interest | $1,042,408 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,964,316 |
| Insurance | $305,197 |
| All other expenses | $0 |
| Total functional expenses | $26,679,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,271,281 |
| Savings and temporary cash investments | $12,384,859 |
| Pledges and grants receivable | $5,568,753 |
| Accounts receivable, net | $882,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $118,827 |
| Prepaid expenses and deferred charges | $653,531 |
| Investments—publicly traded securities | $7,688,966 |
| Investments—other securities | $65,435,065 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,141,682 |
| Total assets | $220,053,880 |
| Accounts payable and accrued expenses | $2,391,772 |
| Grants payable | $0 |
| Deferred revenue | $7,136,103 |
| Tax-exempt bond liabilities | $43,287,306 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,000,000 |
| Total liabilities | $54,815,181 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $165,238,699 |