Salisbury School Inc
- Assets
- $220.1m
- Revenue
- $31.9m
- Investments
- $65.4m
- Employees
- 205
- 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 06/2021, Salisbury School Inc employed 205 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 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $26.7m during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T 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:
SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL(GRADES 9 THROUGH 12) FOR APPROXIMATELY 300 BOARDING AND DAY STUDENTS. THE SCHOOL ALSO PROVIDES AN INDEPENDENT READING AND ENGLISH CO-ED SUMMER SCHOOL FOR STUDENTS IN GRADES 8 THROUGH 12. THE PROGRAM WAS NOT HELD DURING THE FISCAL YEAR ENDED JUNE 30, 2021 OR 2020 DUE TO THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chisholm S Chandler Headmaster | Officer | 40 | $385,290 |
Robert D Wynne Assistant Headmaster | Officer | 40 | $338,823 |
Peter Gilbert Asst Head Of School For Institutional Advancement | Officer | 40 | $226,082 |
Josephine Leary Interim CFO (as Of 7/1/2020) | Officer | 40 | $198,138 |
Shana Stalker Dir. Of Communicationsand Marketing | 40 | $125,090 | |
William Boyer Dir. Of Buildings, Grounds And Safety | 40 | $122,494 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ginsberg's Foods Food Services | 6/29/21 | $219,891 |
Cambridge Associates Llc Investment Consultants | 6/29/21 | $200,000 |
Preferred Building Maintenance Llc Housekeeping Services | 6/29/21 | $134,826 |
Burton F Clark Inc Construction | 6/29/21 | $1,713,857 |
Us Foodservice Inc Food Services | 6/29/21 | $162,340 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,529,924 |
| Noncash contributions included in lines 1a–1f | $831,708 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,529,924 |
| Total Program Service Revenue | $20,737,462 |
| 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 organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $1,262,262 |
| 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 |
| Net Land, buildings, and equipment | $67,908,493 |
| 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 | $51,887,197 |
| Net assets with donor restrictions | $113,351,502 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $220,053,880 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Salisbury School Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Kohn Joseloff Foundation Inc Bloomfield, CT PURPOSE: GENERAL | $5,000 |
Endowment Analysis
| Beg. Balance | $56,546,184 |
| Earnings | $17,511,635 |
| Net Contributions | $1,741,583 |
| Other Expense | $1,871,315 |
| Grants | $828,685 |
| Ending Balance | $73,099,402 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choate Rosemary Hall Foundation Incorporated Wallingford, CT | $824,930,363 | $80,573,016 |
Hotchkiss School Lakeville, CT | $832,226,197 | $135,336,667 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Taft School Corporation Watertown, CT | $447,949,060 | $83,525,324 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Loomis Institute Windsor, CT | $445,458,169 | $66,028,387 |
Noble And Greenough School Dedham, MA | $357,051,555 | $55,304,957 |
Groton School Groton, MA | $519,152,774 | $50,710,312 |
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |