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Nonprofiteer
← SAYBROOK UNIVERSITY

Form 990 for tax year 2023

Filed by SAYBROOK UNIVERSITY.

Totals

Total revenue
$25,227,045
Total expenses
$23,578,330
Contributions and grants received
$49,303
Grants paid
$1,568,781
Program service revenue
$24,565,062
Investment income
$612,680
Other revenue
$0
Total assets, end of year
$21,027,242
Total liabilities, end of year
$6,275,708
Net assets or fund balances, end of year
$14,751,534
Program services expenses (Part IX)
$15,348,118
Management and general expenses
$8,085,671
Fundraising expenses
$144,541
Program service expenses (Part III)
$15,348,118

Program services were 65.1% 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

    $49,303

  • 1g · Noncash contributions included above

    $21,697

  • 2a · Program service revenue: Student Tuition/Fees

    total $24,556,221 · related or exempt $24,556,221

  • 2b · Program service revenue: Other School Revenue

    total $8,841 · related or exempt $8,841

  • 3 · Investment income

    total $605,522 · excluded $605,522

  • 7a · Gross sales of assets other than inventory

    securities $123,000

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

    securities $115,842

  • 7c · Gain or loss

    securities $7,158

  • 7d · Net gain or loss

    total $7,158 · excluded $7,158

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,568,781 · program services $1,568,781

  • 5 · Compensation of officers, directors and key employees

    total $488,477 · program services $122,119 · management and general $366,358

  • 7 · Other salaries and wages

    total $9,245,099 · program services $8,893,670 · management and general $247,315 · fundraising $104,114

  • 8 · Pension plan contributions

    total $579,702 · program services $541,178 · management and general $31,836 · fundraising $6,688

  • 9 · Other employee benefits

    total $885,213 · program services $797,295 · management and general $78,911 · fundraising $9,007

  • 10 · Payroll taxes

    total $682,062 · program services $669,359 · management and general $5,335 · fundraising $7,368

  • 11a · Fees: management

    total $2,300,684 · management and general $2,300,684

  • 11b · Fees: legal

    total $231,383 · management and general $231,383

  • 11f · Fees: investment management

    total $6,923 · management and general $6,923

  • 11g · Fees: other

    total $72,851 · program services $19,760 · management and general $53,091

  • 12 · Advertising and promotion

    total $3,874,154 · management and general $3,874,154

  • 13 · Office expenses

    total $104,959 · program services $25,560 · management and general $79,399

  • 14 · Information technology

    total $83,726 · program services $61,940 · management and general $21,786

  • 16 · Occupancy

    total $391,621 · program services $251,468 · management and general $129,289 · fundraising $10,864

  • 17 · Travel

    total $318,240 · program services $268,412 · management and general $49,828

  • 19 · Conferences, conventions and meetings

    total $102,683 · program services $82,196 · management and general $20,487

  • 22 · Depreciation, depletion and amortization

    total $120,120 · program services $99,021 · management and general $14,599 · fundraising $6,500

  • 23 · Insurance

    total $44,461 · management and general $44,461

  • 24a · Other expenses: Student Services

    total $762,912 · program services $753,750 · management and general $9,162

  • 24b · Other expenses: Bad Debt Expense

    total $370,631 · management and general $370,631

  • 24c · Other expenses: Dues and Memberships

    total $43,330 · program services $36,004 · management and general $7,326

  • 24d · Other expenses: Subscriptions and Publi

    total $8,644 · program services $5,835 · management and general $2,809

  • 24e · All other expenses

    total $1,291,674 · program services $1,151,770 · management and general $139,904

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,865,365 · end of year $141,447

  • 2 · Savings and temporary cash investments

    beginning of year $3,968,437 · end of year $7,391,355

  • 4 · Accounts receivable

    beginning of year $300,336 · end of year $478,923

  • 9 · Prepaid expenses and deferred charges

    beginning of year $84,752 · end of year $163,495

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

    $836,093

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

    $495,741

  • 10c · Land, buildings and equipment, net

    beginning of year $345,399 · end of year $340,352

  • 11 · Investments: publicly traded securities

    beginning of year $7,877,656 · end of year $9,300,519

  • 14 · Intangible assets

    beginning of year $612,710 · end of year $582,649

  • 15 · Other assets

    beginning of year $2,576,655 · end of year $2,628,502

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,308,863 · end of year $1,357,814

  • 19 · Deferred revenue

    beginning of year $2,229,841 · end of year $2,590,254

  • 25 · Other liabilities

    beginning of year $2,733,230 · end of year $2,327,640

  • 27 · Net assets without donor restrictions

    beginning of year $11,397,442 · end of year $13,652,048

  • 28 · Net assets with donor restrictions

    beginning of year $961,934 · end of year $1,099,486

Mission and programs · 2023

Mission

Saybrook University relentlessly pursues a socially just, sustainable world by educating humanistic leaders to transform their fields and communities.

  • The University comprises two schools: the College of Social Sciences, which offers degrees in Humanistic and Clinical Psychology, Counseling (M.A. and Ph.D.), Leadership and Management (M.A. and Ph.D. in Organizational Systems and M.A. in Management), and Transformative Social Change (M.A. and Ph.D.); and the College of Integrative Medicine and Health Sciences, which offers degrees in Mind-Body Medicine (M.A. and Ph.D.) and Integrative and Functional Nutrition (M.S. and Ph.D.). The University also offers certificates, continuing education, and professional studies in several of these areas. The learning model includes online-hybrid and residential formats. Saybrook served over 1,000 students during the fiscal year ended May 31, 2024.

    Expenses $15,348,118 · Grants $1,568,781 · Revenue $24,565,062

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

Listed in Part VII

  • Michael Horowitz

    Corporate President/Trustee

    Total calculated
    $1,595,488
    From this org
    $0
    From related orgs
    $1,457,327
    Other
    $138,161
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $857,327 related
    Bonus
    $0 + $600,000 related
    Other
    $0
    Deferred
    $0 + $120,000 related
    Nontaxable benefits
    $0 + $18,161 related
    Filer's total
    $0 + $1,595,488 related

  • Nathan Long

    Trustee/College President

    Total calculated
    $348,874
    From this org
    $296,052
    From related orgs
    $0
    Other
    $52,822
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,052
    Bonus
    $0
    Other
    $0
    Deferred
    $21,574
    Nontaxable benefits
    $31,249
    Filer's total
    $348,875

  • Patricia Breen

    Board Chair

    Total calculated
    $0
    Hours/week
    2

  • Troy Roland

    Vice Chair (until 05/24)

    Total calculated
    $0
    Hours/week
    2

  • Diane Watson

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Gloria Chance

    Trustee (until 05/24)

    Total calculated
    $0
    Hours/week
    2

  • David Ford

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Groh

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Cherron Hoppes

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ellen Helms

    Trustee (as of 05/24)

    Total calculated
    $0
    Hours/week
    2

  • Carolyn Mathis

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Daniel Sieberg

    Trustee (until 05/24)

    Total calculated
    $0
    Hours/week
    2

  • Joann Smikle

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • James Thiering

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Shari Mikos

    Corporate Secretary

    Total calculated
    $309,795
    From this org
    $0
    From related orgs
    $284,769
    Other
    $25,026
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,019 related
    Bonus
    $0 + $53,750 related
    Other
    $0
    Deferred
    $0 + $20,151 related
    Nontaxable benefits
    $0 + $4,875 related
    Filer's total
    $0 + $309,795 related

  • Jennifer Gantz

    Corporate Treasurer

    Total calculated
    $369,167
    From this org
    $0
    From related orgs
    $345,499
    Other
    $23,668
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,999 related
    Bonus
    $0 + $67,500 related
    Other
    $0
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $568 related
    Filer's total
    $0 + $369,167 related

  • Greg Beno

    Asst. Corp. Treasurer

    Total calculated
    $268,306
    From this org
    $0
    From related orgs
    $250,348
    Other
    $17,958
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,433 related
    Bonus
    $0 + $36,915 related
    Other
    $0
    Deferred
    $0 + $17,505 related
    Nontaxable benefits
    $0 + $453 related
    Filer's total
    $0 + $268,306 related

  • Donnell Bell

    Asst. Corp. Secretary (until 05/24)

    Total calculated
    $215,730
    From this org
    $0
    From related orgs
    $190,529
    Other
    $25,201
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,889 related
    Bonus
    $0 + $16,640 related
    Other
    $0
    Deferred
    $0 + $13,513 related
    Nontaxable benefits
    $0 + $11,688 related
    Filer's total
    $0 + $215,730 related

  • Sara Sotelo

    Asst. Corp. Secretary

    Total calculated
    $106,709
    From this org
    $0
    From related orgs
    $87,786
    Other
    $18,923
    Hours/week
    2 + 38 related

  • Robyn Parker

    VP of Academic Affairs

    Total calculated
    $230,539
    From this org
    $195,072
    From related orgs
    $0
    Other
    $35,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,072
    Bonus
    $0
    Other
    $0
    Deferred
    $13,638
    Nontaxable benefits
    $21,829
    Filer's total
    $230,539

  • Karyn Browning

    VP of Admissions

    Total calculated
    $179,230
    From this org
    $153,967
    From related orgs
    $0
    Other
    $25,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,967
    Bonus
    $0
    Other
    $0
    Deferred
    $11,146
    Nontaxable benefits
    $14,117
    Filer's total
    $179,230

  • Donald Moss

    Dean of Online Programs

    Total calculated
    $151,885
    From this org
    $140,883
    From related orgs
    $0
    Other
    $11,002
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,883
    Bonus
    $0
    Other
    $0
    Deferred
    $9,918
    Nontaxable benefits
    $1,084
    Filer's total
    $151,885

  • Carmen Bowen

    AVP Alumni Engmt. (until 10/23)

    Total calculated
    $154,401
    From this org
    $138,117
    From related orgs
    $0
    Other
    $16,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,040
    Bonus
    $0
    Other
    $29,077
    Deferred
    $8,183
    Nontaxable benefits
    $8,101
    Filer's total
    $154,401

  • Joline Pruitt

    AVP Business Ops. (until 11/23)

    Total calculated
    $175,558
    From this org
    $154,269
    From related orgs
    $0
    Other
    $21,289
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,769
    Bonus
    $0
    Other
    $31,500
    Deferred
    $9,407
    Nontaxable benefits
    $11,882
    Filer's total
    $175,558

  • Deborah Solmor

    Former Corporate Secretary

    Total calculated
    $590,466
    From this org
    $0
    From related orgs
    $574,306
    Other
    $16,160
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,306 related
    Bonus
    $0 + $72,500 related
    Other
    $0 + $326,500 related
    Deferred
    $0 + $14,943 related
    Nontaxable benefits
    $0 + $1,217 related
    Filer's total
    $0 + $590,466 related

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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
Saybrook University, with support from a related organization, TCS Education System, used one or more of the methods described below to establish the top management official's compensation: - Compensation Committee - Independent Compensation Consultant - Compensation Survey or Study - Form 990 of other organizations - Approval by the Board of Compensation Committee
Part I, Lines 4a-b
Part I, Line 4a: The following individual received severance payments in 2023. These payments are reported as taxable compensation on Part II, Column b(iii): Deborah Solmor, Severance - $326,500 Joline Pruitt, Severance - $31,500 Carmen Brown, Severance - $29,077 Part I, Line 4b: TCS Education System provides a supplemental deferred compensation plan for certain executives. The following individuals participate in the plan: - Michael Horowitz
Part I, Line 7
The target opportunity for the discretionary award is established through market compensation and internal policy so as to relate pay, performance and rewards. Upon reviewing annual performance, the Executive Committee of the Board of Trustees determines results and the granting of discretionary awards, if any.

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
8 April 2025
IRS schema version
2023v6.0
Source object
202511059349300811

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