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Nonprofiteer
← SALISBURY SCHOOL INC

Form 990 for tax year 2023

Filed by SALISBURY SCHOOL INC.

Totals

Total revenue
$40,029,245
Total expenses
$33,306,223
Contributions and grants received
$12,632,723
Grants paid
$4,846,702
Program service revenue
$24,294,168
Investment income
$3,023,982
Other revenue
$78,372
Total assets, end of year
$251,409,345
Total liabilities, end of year
$48,605,544
Net assets or fund balances, end of year
$202,803,801
Program services expenses (Part IX)
$25,972,840
Management and general expenses
$5,435,041
Fundraising expenses
$1,898,342
Program service expenses (Part III)
$25,972,840

Program services were 78.0% 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.

  • 1f · All other contributions, gifts and grants

    $12,632,723

  • 1g · Noncash contributions included above

    $4,895,214

  • 2a · Program service revenue: STUDENT TUITION & FEES

    total $23,218,787 · related or exempt $23,218,787

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $839,522 · related or exempt $839,522

  • 2c · Program service revenue: STUDENT ATHLETICS AND INCIDENTALS

    total $235,859 · related or exempt $235,859

  • 3 · Investment income

    total $1,009,354 · unrelated business -$26,257 · excluded $1,035,611

  • 6a · Gross rents

    real property $1,800

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,800

  • 6d · Net rental income or loss

    total $1,800 · excluded $1,800

  • 7a · Gross sales of assets other than inventory

    securities $3,445,744

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

    securities $1,417,510 · other assets $13,606

  • 7c · Gain or loss

    securities $2,028,234 · other assets -$13,606

  • 7d · Net gain or loss

    total $2,014,628 · unrelated business $6,312 · excluded $2,008,316

  • 11a · Other revenue: SUMMER CAMPS

    total $68,225 · unrelated business $68,225

  • 11b · Other revenue: OTHER REVENUES

    total $8,347 · unrelated business $8,347

  • 11e · Other revenue, total

    $76,572

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000 · program services $40,000

  • 2 · Grants to domestic individuals

    total $4,806,702 · program services $4,806,702

  • 5 · Compensation of officers, directors and key employees

    total $1,656,995 · management and general $1,303,471 · fundraising $353,524

  • 6 · Compensation of disqualified persons

    total $79,327 · program services $67,327 · management and general $12,000

  • 7 · Other salaries and wages

    total $10,037,214 · program services $7,597,314 · management and general $1,766,594 · fundraising $673,306

  • 8 · Pension plan contributions

    total $663,034 · program services $516,791 · management and general $90,772 · fundraising $55,471

  • 9 · Other employee benefits

    total $1,931,582 · program services $1,925,351 · management and general $4,089 · fundraising $2,142

  • 10 · Payroll taxes

    total $799,051 · program services $561,527 · management and general $172,663 · fundraising $64,861

  • 11b · Fees: legal

    total $95,168 · management and general $95,168

  • 11c · Fees: accounting

    total $68,450 · management and general $68,450

  • 11f · Fees: investment management

    total $539,566 · management and general $539,566

  • 11g · Fees: other

    total $2,036,222 · program services $1,635,827 · management and general $282,010 · fundraising $118,385

  • 12 · Advertising and promotion

    total $110,033 · program services $21,602 · management and general $6,611 · fundraising $81,820

  • 13 · Office expenses

    total $490,594 · program services $102,831 · management and general $233,215 · fundraising $154,548

  • 14 · Information technology

    total $409,177 · program services $89,652 · management and general $233,183 · fundraising $86,342

  • 16 · Occupancy

    total $1,785,799 · program services $1,602,993 · management and general $182,515 · fundraising $291

  • 17 · Travel

    total $418,445 · program services $365,041 · management and general $22,591 · fundraising $30,813

  • 19 · Conferences, conventions and meetings

    total $276,788 · program services $90,119 · management and general $122,803 · fundraising $63,866

  • 20 · Interest

    total $675,846 · program services $675,846

  • 22 · Depreciation, depletion and amortization

    total $3,164,539 · program services $3,062,008 · management and general $68,354 · fundraising $34,177

  • 23 · Insurance

    total $415,055 · program services $401,607 · management and general $8,965 · fundraising $4,483

  • 24a · Other expenses: STUDENT INCIDENTALS

    total $2,216,813 · program services $1,890,035 · management and general $164,862 · fundraising $161,916

  • 24b · Other expenses: SUPPLIES

    total $536,775 · program services $512,846 · management and general $18,895 · fundraising $5,034

  • 24e · All other expenses

    total $53,048 · program services $7,421 · management and general $38,264 · fundraising $7,363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,163,877 · end of year $4,966,888

  • 2 · Savings and temporary cash investments

    beginning of year $10,418,769 · end of year $5,525,739

  • 3 · Pledges and grants receivable

    beginning of year $5,767,776 · end of year $4,761,389

  • 4 · Accounts receivable

    beginning of year $980,148 · end of year $797,005

  • 8 · Inventories for sale or use

    beginning of year $158,659 · end of year $140,626

  • 9 · Prepaid expenses and deferred charges

    beginning of year $865,303 · end of year $789,170

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

    $136,922,830

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

    $58,034,988

  • 10c · Land, buildings and equipment, net

    beginning of year $72,003,264 · end of year $78,887,842

  • 11 · Investments: publicly traded securities

    beginning of year $6,692,271 · end of year $13,854,838

  • 12 · Investments: other securities

    beginning of year $71,330,305 · end of year $81,393,121

  • 15 · Other assets

    beginning of year $59,067,609 · end of year $60,292,727

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,666,032 · end of year $2,319,736

  • 19 · Deferred revenue

    beginning of year $8,529,338 · end of year $7,157,241

  • 20 · Tax-exempt bond liabilities

    beginning of year $40,503,480 · end of year $39,128,567

  • 27 · Net assets without donor restrictions

    beginning of year $53,891,197 · end of year $67,814,579

  • 28 · Net assets with donor restrictions

    beginning of year $125,857,934 · end of year $134,989,222

Mission and programs · 2023

Mission

SALISBURY SCHOOL WAS FOUNDED TO INSTILL A VIBRANT ENTHUSIASM FOR LEARNING AND THE SELF-CONFIDENCE NEEDED FOR INTELLECTUAL, PHYSICAL, MORAL AND SPIRITUAL DEVELOPMENT. THOUGH WE ARE A NON-DENOMINATIONAL SCHOOL OPEN TO BOYS OF ALL BELIEF SYSTEMS, SPIRITUAL EXPLORATION IS ONE OF OUR CORE TRADITIONS.BUILT ON ESSENTIAL CORE VALUES, THE SCHOOL'S UNIQUE CULTURE PROMOTES BROTHERHOOD, CREATIVITY, EMPATHY, HUMILITY, INTEGRITY, LEADERSHIP AND RESPECT. SALISBURY GRADUATES ARE MEN OF CHARACTER AND PROMISE WHO ARE PREPARED TO MEET THE CHALLENGES OF COLLEGE AND ADULTHOOD AND TO MAKE A DIFFERENCE IN AN ENTREPRENEURIAL, TECHNOLOGICAL AND COSMOPOLITAN WORLD.

Activities or mission (Part I)

EDUCATION: SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL (GRADES 9 THROUGH 12) FOR BOARDING AND DAY STUDENTS. THE SCHOOL RECRUITS STUDENTS FROM AROUND THE WORLD.

  • SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL (GRADES 9 THROUGH 12) FOR APPROXIMATELY 320 BOARDING AND DAY STUDENTS.

    Expenses $25,972,840 · Grants $4,846,702 · Revenue $24,294,168

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Campbell Langdon

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David Leavy

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Barzun

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Robert Zabel

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Gregory Johnson

    TRASURER

    Total calculated
    $0
    Hours/week
    1

  • John Lambros

    VICE TREASURER

    Total calculated
    $0
    Hours/week
    1

  • David Mathus

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Reverend William Danaher

    VICE SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Baopend Bai

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Frederick Beck

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sam A Bradley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Matthew Cassin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Coleman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Couzens Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bradford Dimeo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David Friedman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Gans

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Hanau

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Adelaide Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Patricia Isen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Arrmando Jimenez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Keehn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael W Malafronte

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Harriet Marshall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher Merrill

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sadiq Olanrewaju

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy Rees

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Whitney Robinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • J Wood Rutter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William Slattery

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Willliam Webb

    HEAD OF SCHOOL

    Total calculated
    $509,406
    From this org
    $405,392
    From related orgs
    $0
    Other
    $104,014
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $378,713
    Bonus
    $0
    Other
    $26,679
    Deferred
    $44,625
    Nontaxable benefits
    $59,389
    Filer's total
    $509,406

  • Vafa Vahid

    CFOO

    Total calculated
    $339,958
    From this org
    $321,258
    From related orgs
    $0
    Other
    $18,700
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $285,000
    Bonus
    $0
    Other
    $36,258
    Deferred
    $18,700
    Nontaxable benefits
    $0
    Filer's total
    $339,958

  • Robert Wynne

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $478,740
    From this org
    $337,551
    From related orgs
    $0
    Other
    $141,189
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,413
    Bonus
    $0
    Other
    $138
    Deferred
    $83,000
    Nontaxable benefits
    $58,189
    Filer's total
    $478,740

  • Peter Gilbert

    ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCE

    Total calculated
    $353,858
    From this org
    $275,782
    From related orgs
    $0
    Other
    $78,076
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,524
    Bonus
    $0
    Other
    $258
    Deferred
    $53,000
    Nontaxable benefits
    $25,076
    Filer's total
    $353,858

  • Josephine Leary

    DIRECTOR OF FINANCE

    Total calculated
    $224,383
    From this org
    $204,008
    From related orgs
    $0
    Other
    $20,375
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,750
    Bonus
    $0
    Other
    $258
    Deferred
    $20,375
    Nontaxable benefits
    $0
    Filer's total
    $224,383

  • Peter J Raifstanger

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $190,594
    From this org
    $144,701
    From related orgs
    $0
    Other
    $45,893
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,305
    Bonus
    $0
    Other
    $20,396
    Deferred
    $13,600
    Nontaxable benefits
    $32,293
    Filer's total
    $190,594

  • Kristina Miller

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $143,651
    From this org
    $136,148
    From related orgs
    $0
    Other
    $7,503
    Hours/week
    40

  • William Boyer

    DIRECTOR OF FACILITIES

    Total calculated
    $163,922
    From this org
    $134,840
    From related orgs
    $0
    Other
    $29,082
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,989
    Bonus
    $0
    Other
    $1,851
    Deferred
    $13,950
    Nontaxable benefits
    $15,132
    Filer's total
    $163,922

  • M Beth Hammond

    DIRECTOR OF HEALTH SERVICES

    Total calculated
    $199,603
    From this org
    $133,040
    From related orgs
    $0
    Other
    $66,563
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,902
    Bonus
    $0
    Other
    $25,138
    Deferred
    $11,715
    Nontaxable benefits
    $54,848
    Filer's total
    $199,603

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

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
THE SCHOOL REQUIRES THE HEAD OF SCHOOL, ASSOCIATE HEAD OF SCHOOL, AND THE DIRECTOR OF HEALTH SERVICES TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE BENEFITS ARE TREATED AS NONTAXABLE COMPENSATION. THE CHIEF FINANCIAL OFFICER RECEIVES A HOUSING ALLOWANCE, WHICH IS TREATED AS A TAXABLE BENEFIT.
PART I, LINE 4B
NAME: WILLIAM WEBB, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $25,000. PLAN DESCRIPTION: 457F NAME: ROBERT WYNNE, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $50,000. PLAN DESCRIPTION: 457F NAME: PETER GILBERT, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $25,000. PLAN DESCRIPTION: 457F NAME: VAFA VAHID, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $10,000. PLAN DESCRIPTION: 457F

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

  • TOWN OF SALISBURY

    $40,000

    GENERAL SUPPORT

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 corporations and trusts

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

  • CHARITABLE REMAINDER TRUSTS (6)

    T · TRUST · CT · controlled entity

    Directly controlled by SALISBURY SCHOOL

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202511289349301931

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