Skip to content
Nonprofiteer
← SALISBURY SCHOOL INC

Form 990 for tax year 2022

Filed by SALISBURY SCHOOL INC.

Totals

Total revenue
$35,562,584
Total expenses
$30,729,008
Contributions and grants received
$9,076,133
Grants paid
$4,501,700
Program service revenue
$23,280,215
Investment income
$3,203,486
Other revenue
$2,750
Total assets, end of year
$231,447,981
Total liabilities, end of year
$51,698,850
Net assets or fund balances, end of year
$179,749,131
Program services expenses (Part IX)
$23,049,958
Management and general expenses
$5,857,421
Fundraising expenses
$1,821,629
Program service expenses (Part III)
$23,049,958

Program services were 75.0% 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

    $9,076,133

  • 1g · Noncash contributions included above

    $515,138

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

    total $22,162,561 · related or exempt $22,162,561

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $821,880 · related or exempt $821,880

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

    total $295,774 · related or exempt $295,774

  • 3 · Investment income

    total $946,365 · unrelated business -$20,818 · excluded $967,183

  • 7a · Gross sales of assets other than inventory

    securities $3,120,793

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

    securities $863,672

  • 7c · Gain or loss

    securities $2,257,121

  • 7d · Net gain or loss

    total $2,257,121 · unrelated business $556 · excluded $2,256,565

  • 11a · Other revenue: OTHER REVENUES

    total $2,750 · unrelated business $2,750

  • 11e · Other revenue, total

    $2,750

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,501,700 · program services $4,501,700

  • 5 · Compensation of officers, directors and key employees

    total $1,569,272 · management and general $1,244,910 · fundraising $324,362

  • 6 · Compensation of disqualified persons

    total $237,625 · program services $53,431 · management and general $184,194

  • 7 · Other salaries and wages

    total $9,182,864 · program services $7,041,279 · management and general $1,527,087 · fundraising $614,498

  • 8 · Pension plan contributions

    total $632,576 · program services $421,125 · management and general $124,962 · fundraising $86,489

  • 9 · Other employee benefits

    total $1,345,253 · program services $1,203,167 · management and general $48,830 · fundraising $93,256

  • 10 · Payroll taxes

    total $744,230 · program services $509,896 · management and general $173,010 · fundraising $61,324

  • 11b · Fees: legal

    total $300,443 · management and general $300,443

  • 11c · Fees: accounting

    total $79,118 · management and general $79,118

  • 11f · Fees: investment management

    total $417,928 · management and general $417,928

  • 11g · Fees: other

    total $1,472,512 · program services $849,313 · management and general $574,703 · fundraising $48,496

  • 12 · Advertising and promotion

    total $106,154 · program services $47,683 · management and general $615 · fundraising $57,856

  • 13 · Office expenses

    total $582,597 · program services $115,254 · management and general $285,470 · fundraising $181,873

  • 14 · Information technology

    total $388,537 · program services $79,190 · management and general $210,473 · fundraising $98,874

  • 16 · Occupancy

    total $1,771,428 · program services $1,549,322 · management and general $219,637 · fundraising $2,469

  • 17 · Travel

    total $179,783 · program services $6,344 · management and general $104,642 · fundraising $68,797

  • 19 · Conferences, conventions and meetings

    total $81,899 · program services $9,262 · management and general $30,297 · fundraising $42,340

  • 20 · Interest

    total $698,845 · program services $698,845

  • 22 · Depreciation, depletion and amortization

    total $3,018,156 · program services $2,920,368 · management and general $65,192 · fundraising $32,596

  • 23 · Insurance

    total $387,243 · program services $374,697 · management and general $8,364 · fundraising $4,182

  • 24a · Other expenses: STUDENT INCIDENTALS

    total $2,507,479 · program services $2,251,156 · management and general $170,249 · fundraising $86,074

  • 24b · Other expenses: SUPPLIES

    total $502,873 · program services $409,457 · management and general $77,537 · fundraising $15,879

  • 24c · Other expenses: MISCELLANEOUS

    total $20,493 · program services $8,469 · management and general $9,760 · fundraising $2,264

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,357,803 · end of year $4,163,877

  • 2 · Savings and temporary cash investments

    beginning of year $12,030,265 · end of year $10,418,769

  • 3 · Pledges and grants receivable

    beginning of year $4,999,756 · end of year $5,767,776

  • 4 · Accounts receivable

    beginning of year $805,420 · end of year $980,148

  • 8 · Inventories for sale or use

    beginning of year $168,060 · end of year $158,659

  • 9 · Prepaid expenses and deferred charges

    beginning of year $621,951 · end of year $865,303

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

    $126,931,524

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

    $54,928,260

  • 10c · Land, buildings and equipment, net

    beginning of year $67,898,447 · end of year $72,003,264

  • 11 · Investments: publicly traded securities

    beginning of year $5,744,607 · end of year $6,692,271

  • 12 · Investments: other securities

    beginning of year $65,493,643 · end of year $71,330,305

  • 15 · Other assets

    beginning of year $56,888,210 · end of year $59,067,609

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,924,761 · end of year $2,666,032

  • 19 · Deferred revenue

    beginning of year $7,035,702 · end of year $8,529,338

  • 20 · Tax-exempt bond liabilities

    beginning of year $41,856,393 · end of year $40,503,480

  • 27 · Net assets without donor restrictions

    beginning of year $52,340,932 · end of year $53,891,197

  • 28 · Net assets with donor restrictions

    beginning of year $115,850,374 · end of year $125,857,934

Mission and programs · 2022

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 313 BOARDING AND DAY STUDENTS.

    Expenses $23,049,958 · Grants $4,501,700 · Revenue $23,280,215

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Willliam Webb

    HEAD OF SCHOOL (STARTED 7/1/2022)

    Total calculated
    $290,988
    From this org
    $229,879
    From related orgs
    $0
    Other
    $61,109
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,319
    Bonus
    $0
    Other
    $44,560
    Deferred
    $34,625
    Nontaxable benefits
    $26,484
    Filer's total
    $290,988

  • Vafa Vahid

    CHIEF FINANCIAL OFFICER (STARTED 7/1/2022)

    Total calculated
    $167,917
    From this org
    $167,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,667
    Bonus
    $0
    Other
    $16,250
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $167,917

  • Robert Wynne

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $469,244
    From this org
    $336,975
    From related orgs
    $0
    Other
    $132,269
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,837
    Bonus
    $0
    Other
    $138
    Deferred
    $80,500
    Nontaxable benefits
    $51,769
    Filer's total
    $469,244

  • Peter Gilbert

    ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCE

    Total calculated
    $325,862
    From this org
    $251,706
    From related orgs
    $0
    Other
    $74,156
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,944
    Bonus
    $0
    Other
    $762
    Deferred
    $50,500
    Nontaxable benefits
    $23,656
    Filer's total
    $325,862

  • Josephine Leary

    BUSINESS MANAGER

    Total calculated
    $267,758
    From this org
    $245,258
    From related orgs
    $0
    Other
    $22,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,000
    Bonus
    $0
    Other
    $20,258
    Deferred
    $22,500
    Nontaxable benefits
    $0
    Filer's total
    $267,758

  • William Warder

    DIRECTOR OF ADMISSIONS

    Total calculated
    $177,296
    From this org
    $124,242
    From related orgs
    $0
    Other
    $53,054
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,152
    Bonus
    $0
    Other
    $90
    Deferred
    $6,600
    Nontaxable benefits
    $46,454
    Filer's total
    $177,296

  • Electra Tortorella

    DIRECTOR OF LEADERSHIP AND PLANNED GIVING

    Total calculated
    $164,020
    From this org
    $122,663
    From related orgs
    $0
    Other
    $41,357
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,267
    Bonus
    $0
    Other
    $396
    Deferred
    $10,123
    Nontaxable benefits
    $31,234
    Filer's total
    $164,020

  • Anthony Fraenkel

    DIRECTOR OF DINING SERVICES

    Total calculated
    $163,368
    From this org
    $122,755
    From related orgs
    $0
    Other
    $40,613
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,359
    Bonus
    $0
    Other
    $396
    Deferred
    $13,200
    Nontaxable benefits
    $27,413
    Filer's total
    $163,368

  • William Boyer

    DIRECTOR OF BUILDINGS & GROUNDS

    Total calculated
    $158,946
    From this org
    $130,614
    From related orgs
    $0
    Other
    $28,332
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,285
    Bonus
    $0
    Other
    $2,329
    Deferred
    $13,500
    Nontaxable benefits
    $14,832
    Filer's total
    $158,946

  • Chisholm Chandler

    HEAD OF SCHOOL- FORMER

    Total calculated
    $624,292
    From this org
    $456,538
    From related orgs
    $0
    Other
    $167,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,352
    Bonus
    $0
    Other
    $264,186
    Deferred
    $85,500
    Nontaxable benefits
    $82,254
    Filer's total
    $624,292

  • 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

    TREASURER

    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

  • Eric Bommer

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lisa Callahan

    OUTGOING 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

    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

  • Harriet Marshall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher Merrill

    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

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James Townsend

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Marita Wong

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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 · 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 PROVIDED TUITION REIMBURSEMENT, AUTO ALLOWANCE AND MOVING EXPENSE REIMBURSEMENT TO THE HEAD OF SCHOOL. THESE ITEMS ARE INCLUDED AS OTHER REPORTABLE COMPENSATION. INCLUDED IN OTHER REPORTABLE COMPENSATION OF THE FORMER HEAD OF SCHOOL ARE A HOUSING ALLOWANCE, AUTO ALLOWANCE, CLUB DUES AND DEFERRED COMPENSATION PAYMENT. THE SCHOOL PROVIDED HOUSING TO THE CHIEF FINANCIAL OFFICER, WHICH IS INCLUDED IN OTHER REPORTABLE COMPENSATION.
PART I, LINE 4B
NAME: CHISHOLM CHANDLER, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $179,786. PLAN DESCRIPTION: 457F PAYOUT AND $65000 CONTRIBUTION NAME: ROBERT WYNNE, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $50,000. PLAN DESCRIPTION: 457F SCHOOL CONTRIBUTION NAME: PETER GILBERT, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $25,000. PLAN DESCRIPTION: 457F SCHOOL CONTRIBUTION NAME: WILLLIAM WEBB, DESCRIPTION: 457F, CURRENT YEAR AMOUNT: $25,000. PLAN DESCRIPTION: 457F SCHOOL CONTRIBUTION

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.

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
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411359349309891

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.