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Nonprofiteer
← SALVAGGIO ACADEMY

Form 990 for tax year 2023

Filed by SALVAGGIO ACADEMY.

Totals

Total revenue
$3,926,251
Total expenses
$1,983,108
Contributions and grants received
$2,511,139
Grants paid
$172,528
Program service revenue
$22,637
Investment income
$1,392,475
Other revenue
$0
Total assets, end of year
$53,447,166
Total liabilities, end of year
$1,859,326
Net assets or fund balances, end of year
$51,587,840
Program services expenses (Part IX)
$1,668,996
Management and general expenses
$306,578
Fundraising expenses
$7,534
Program service expenses (Part III)
$1,668,996

Program services were 84.2% 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.

  • 1d · Related organizations

    $430,560

  • 1e · Government grants (contributions)

    $65,047

  • 1f · All other contributions, gifts and grants

    $2,015,532

  • 2a · Program service revenue: Attendance fees

    total $22,637 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,423,480 · unrelated business $0 · excluded $1,423,480

  • 7a · Gross sales of assets other than inventory

    securities $415,754

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

    securities $443,988 · other assets $2,771

  • 7c · Gain or loss

    securities -$28,234 · other assets -$2,771

  • 7d · Net gain or loss

    total -$31,005 · related or exempt $0 · unrelated business $0 · excluded -$31,005

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $172,528 · program services $172,528

  • 6 · Compensation of disqualified persons

    total $984,826 · program services $752,781 · management and general $232,045 · fundraising $0

  • 9 · Other employee benefits

    total $136,245 · program services $104,403 · management and general $31,842 · fundraising $0

  • 11c · Fees: accounting

    total $69,943 · program services $59,278 · management and general $10,665 · fundraising $0

  • 13 · Office expenses

    total $16,713 · program services $16,713 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $22,035 · program services $22,035 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $232,421 · program services $232,421 · management and general $0 · fundraising $0

  • 17 · Travel

    total $16,217 · program services $16,217 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $8,561 · program services $8,561 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $9,085 · program services $9,085 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $13,791 · program services $0 · management and general $13,791 · fundraising $0

  • 24a · Other expenses: CLASSROOM SUPPLIES

    total $93,546 · program services $93,546 · management and general $0 · fundraising $0

  • 24b · Other expenses: MEALS

    total $119,254 · program services $106,039 · management and general $5,681 · fundraising $7,534

  • 24c · Other expenses: COMMUNITY RELATIONS

    total $26,401 · program services $26,401 · management and general $0 · fundraising $0

  • 24d · Other expenses: TAXES

    total $11,412 · program services $0 · management and general $11,412 · fundraising $0

  • 24e · All other expenses

    total $50,130 · program services $48,988 · management and general $1,142 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $955,707 · end of year $1,379,786

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,380 · end of year $20,118

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

    $158,697

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

    $101,789

  • 10c · Land, buildings and equipment, net

    beginning of year $13,320 · end of year $56,908

  • 11 · Investments: publicly traded securities

    beginning of year $45,249,114 · end of year $50,174,331

  • 15 · Other assets

    beginning of year $34,638 · end of year $1,816,023

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,714 · end of year $125,940

  • 19 · Deferred revenue

    beginning of year $6,245 · end of year $5,400

  • 25 · Other liabilities

    beginning of year $33,191 · end of year $1,727,986

  • 27 · Net assets without donor restrictions

    beginning of year $46,184,009 · end of year $51,587,840

Mission and programs · 2023

Mission

THE SALVAGGIO ACADEMY IS A PRIVATE SCHOOL COMMITTED TO LEVERAGING FORWARD-THINKING TECHNOLOGY DRIVEN INSTRUCTION THAT MAKES LEARNING MORE EFFECTIVE AND WILL EQUIP STUDENTS WITH THE SKILLS NECESSARY FOR LIFE.

  • EDUCATION SERVICES PROVIDED THROUGH A PRIVATE SCHOOL IN A LOW-INCOME SECTION OF ALLENTOWN, PA. THE SCHOOLS EDUCATIONAL PROGRAM USES LEADING EDGE SOFTWARE AND TEACHING TECHNIQUES TO ACCELERATE THE STUDENTS LEARNING ABOVE THEIR GRADE LEVEL. CONTRIBUTIONS ARE USED TO FUND SCHOLARSHIPS FOR THE STUDENTS WHO OTHERWISE COULD NOT AFFORD THE COST OF TUITION.

    Expenses $1,493,503

  • AT THE CONCEPTION OF THE SALVAGGIO ACADEMY WE COMMITTED TO ADDING A GRADE LEVEL EACH YEAR. AS OF THE 2022-2023 SCHOOL YEAR, OUR GRADE LEVELS RANGED FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. THIS SCHOOL YEAR, WE HAVE PROVIDED SCHOLARSHIPS TO OUR FORMER 5TH GRADE STUDENTS TO ATTEND SAINT THOMAS MORE, SAINT JOHN VIANNEY REGIONAL, SAINT ELIZABETH REGIONAL SCHOOLS, ALLENTOWN CENTRAL CATHOLIC, AND NOTRE DAME HIGH SCHOOL IN/AROUND ALLENTOWN, PA FOR FOUR CONSECUTIVE YEARS.

    Expenses $172,528 · Grants $172,528

  • DURING THE 2021-2022 SCHOOL YEAR, THE SALVAGGIO ACADEMY, IN PARTNERSHIP WITH LEHIGH VALLEY CHILDRENS CENTERS INC., ADDED A PRE-KINDERGARTEN PROGRAM TO SUPPORT CAILA FACULTY AND FAMILIES WITH MULTIPLE CHILDREN WHO MAY ALREADY BE ENROLLED AS A STUDENT IN GRADES K-5. THESE PRE-K STUDENTS WILL HAVE THE POTENTIAL TO FILL SPOTS IN THE KINDERGARTEN CLASS IN THE FOLLOWING YEAR.

    Expenses $2,965

As filed on the 2023 return.

Listed in Part VII

  • JESS DEVLIN

    DIRECTOR OF EDUCATION

    Total calculated
    $97,632
    From this org
    $97,632
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • JON TAGLIERI

    TREASURER - EFFECTIVE 4/6/24

    Total calculated
    $0
    Hours/week
    3

  • SUZIE SPINOSA

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • ANTHONY SALVAGGIO

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • STEVEN TAYLOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARVIN BALLIET

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GREGG FEINBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEREK SAGER

    FORMER TREASURER- RESIGN 4/5/24

    Total calculated
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
18 October 2024
IRS schema version
2023v6.0
Source object
202510629349301801

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