2023-05-10T09:40:01-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2021-07-01 060646888 SALISBURY SCHOOL INC SALI 8604355711 251 CANAAN RD SALISBURY CT 06068 VAFA VAHID CHIEF FINANCIAL OFFICER 8604355711 2023-05-02 1 VAFA VAHID 999009999 JOHN TOSCANO P00358542 8605614000 2023-05-02 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z WILLIAM WEBB 251 CANAAN RD SALISBURY CT 06068 38969135 0 X WWW.SALISBURYSCHOOL.ORG X 1901 CT 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. 28 28 222 28 59957 0 7529924 9906508 20737462 22113292 3622264 4758309 4705 10955 31894355 36789064 4581608 4409114 0 0 12037464 12822649 0 0 1544247 10059953 10927885 26679025 28159648 5215330 8629416 220053880 219008162 54815181 50816856 165238699 168191306 X 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. 0 0 21890763 4409114 22114187 SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL (GRADES 9 THROUGH 12) FOR APPROXIMATELY 307 BOARDING AND DAY STUDENTS. 21890763 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 53 0 1 222 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JOSEPHINE LEARY 8604355711 251 CANAAN RD SALISBURY CT 06068 CAMPBELL LANGDON CO-CHAIR 1.00 X X 0 0 0 DAVID LEAVY CO-CHAIR 1.00 X X 0 0 0 MATTHEW BARZUN VICE CHAIR 1.00 X X 0 0 0 ROBERT ZABEL VICE CHAIR 1.00 X X 0 0 0 GREGORY JOHNSON TREASURER 1.00 X X 0 0 0 JOHN LAMBROS VICE TREASURER 1.00 X X 0 0 0 DAVID MATHUS SECRETARY 1.00 X X 0 0 0 WILLIAM DANAHER VICE SECRETARY 1.00 X X 0 0 0 ERIC BOMMER TRUSTEE 1.00 X 0 0 0 LISA CALLAHAN TRUSTEE 1.00 X 0 0 0 J MATTHEW CASSIN TRUSTEE 1.00 X 0 0 0 JOHN COLEMAN TRUSTEE 1.00 X 0 0 0 JOHN COUZENS TRUSTEE 1.00 X 0 0 0 BRADFORD DIMEO TRUSTEE 1.00 X 0 0 0 DAVID FRIEDMAN TRUSTEE 1.00 X 0 0 0 MICHAEL GANS TRUSTEE 1.00 X 0 0 0 KENNETH HANAU TRUSTEE 1.00 X 0 0 0 ADELAIDE HARRIS TRUSTEE 1.00 X 0 0 0 PATRICIA ISEN TRUSTEE 1.00 X 0 0 0 ARMANDO JIMENEZ TRUSTEE 1.00 X 0 0 0 PETER KEEHN TRUSTEE 1.00 X 0 0 0 CHINAM C KRY OUTGOING TRUSTEE 1.00 X 0 0 0 DANA MACY OUTGOING TRUSTEE 1.00 X 0 0 0 HARRIET MARSHALL TRUSTEE 1.00 X 0 0 0 CHRISTOPHER MERRILL TRUSTEE 1.00 X 0 0 0 TIMOTHY REES TRUSTEE 1.00 X 0 0 0 RICHARD RIEGEL III OUTGOING TRUSTEE 1.00 X 0 0 0 WHITNEY ROBINSON TRUSTEE 1.00 X 0 0 0 J WOOD RUTTER TRUSTEE 1.00 X 0 0 0 JAMES TOWNSEND TRUSTEE 1.00 X 0 0 0 MARITA WONG TRUSTEE 1.00 X 0 0 0 ROBERT D WYNNE INTERIM HEAD OF SCHOOL 40.00 X 337082 0 130662 JOSEPHINE LEARY INTERIM CFO 40.00 X 252758 0 25000 PETER GILBERT ASST HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCEMENT 40.00 X 226202 0 45656 WILLIAM BOYER DIR. OF BUILDINGS, GROUNDS 40.00 X 131658 0 27863 SHANA STALKER DIR. OF COMMUNICATIONSAND 40.00 X 125180 0 6250 WILLIAM WARDER DIRECTOR OF ADMISSIONS 40.00 X 121082 0 52892 ANTHONY FRAENKEL DIRECTOR OF DINING SERVICES 40.00 X 119401 0 39413 ELECTRA W TORTORELLA DIR. OF LEADERSHIP AND PLA 40.00 X 117723 0 42807 CHISHOLM S CHANDLER HEAD OF SCHOOL (FORMER) 40.00 X 1004087 0 178754 2435173 0 549297 13 1 1 0 ENTERPRISE BUILDERS INC 46 SHEPARD DRIVE NEWINGTON CT 06111 CONSTRUCTION MANAGEMENT 589089 GINSBERG'S FOODS ROUTE 66 PO BOX 17 HUDSON NY 12534 FOOD SERVICES 434069 HICKORY SPLIT FARM 366 OVERLOOK ROAD MILLBROOK NY 12545 SITE DEVELOPMENT 400000 US FOODSERVICE INC PO BOX 642554 PITTSBURGH PA 15264 FOOD SERVICES 268003 CAMBRIDGE ASSOCIATES LLC PO BOX 412015 BOSTON MA 02241 INVESTMENT CONSULTANTS 200000 13 2000000 7906508 1419068 9906508 STUDENT TUITION & FEES 611600 21193660 21193660 AUXILIARY SERVICES 611600 788085 788085 STUDENT ATHLETICS AND INCIDENTALS 611600 131547 131547 22113292 758433 49632 708801 6179947 2180071 3999876 3999876 265 3999611 OTHER REVENUES 900099 10955 895 10060 10955 36789064 22114187 59957 4708412 4409114 4409114 957206 708606 248600 692995 40831 652164 8311043 6590597 1116376 604070 594725 395109 118470 81146 1600730 1163403 329832 107495 665950 467785 140694 57471 60940 60940 60709 60709 482326 482326 864842 690480 155984 18378 159074 23772 83163 52139 477470 98088 255411 123971 335304 83129 190884 61291 1730031 1564870 162358 2803 132023 5531 53824 72668 63440 17851 19095 26494 721487 721487 2981049 2981049 343333 332209 7416 3708 STUDENT INCIDENTALS 1988283 1811759 104162 72362 SUPPLIES 484927 457645 15631 11651 COVID -19 EXPENSES 29977 29977 DEPARTMENTAL EXPENSES 12670 6077 6593 28159648 21890763 4724638 1544247 6271281 4357803 12384859 12030265 5568753 4999756 882423 805420 118827 168060 653531 621951 119897526 51999079 67908493 67898447 7688966 5744607 65435065 65493643 53141682 56888210 220053880 219008162 2391772 1924761 7136103 7035702 43287306 41856393 2000000 0 54815181 50816856 X 51887197 52340932 113351502 115850374 165238699 168191306 220053880 219008162 X 8629416 -5361035 -315774 X X 0 1 X 1 0 X 6564857 8581386 5187267 7529924 9906508 37769942 6564857 8581386 5187267 7529924 9906508 37769942 3983688 33786254 858247 1108198 921890 1896174 708801 5493310 59957 59957 28865 28865 43352074 105717325 0.77930 0.76310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 73099402 6040858 -1073093 825405 1965728 75276034 56546184 1741583 17511635 828685 1871315 73099402 57686822 826393 732969 804802 1895198 56546184 57404092 528002 2465728 828950 1464046 418004 57686822 84199006 795530 3483085 851927 1845991 28375611 57404092 0.33467 0.66533 0.00000 0 0 1306500 1306500 111241816 47672285 63569531 3573012 3101468 471544 3776198 1225326 2550872 67898447 GLOBAL EQUITY 18040762 F HEDGE FUNDS 23880045 F PRIVATE EQUITY 20403866 F OIL AND GAS 888748 F REAL ESTATE 163347 F DOMESTIC EQUITY 2116875 F 65493643 ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 52726349 DEPOSITS 43286 RESTRICTED CASH 4118575 56888210 26220815 -5361035 -4724888 -10085923 36306738 482326 482326 36789064 23268208 0 23268208 482326 4409114 4891440 28159648 PART III, LINE 4: THE SCHOOL HOLDS A SHAKESPEARE BOOK COLLECTION AND A PATRICK HUGHES OIL PAINTING, WHICH WERE DONATED WITH THE INTENTION THAT THEY BE USED FOR EDUCATIONAL PURPOSES. PART V, LINE 4: THE INTENDED USE OF THE SCHOOL'S ENDOWMENT IS TO SUPPORT THE OPERATIONS OF THE SCHOOL INCLUDING SCHOLARSHIPS TO STUDENTS AND PROFESSIONAL DEVELOPMENT TO FACULTY. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR UNCOLLECTIBLE PLEDGES 75,332. CHANGE IN VALUE OF CHARITABLE TRUSTS -391,106. FINANCIAL AID -4,409,114. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,409,114. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE STATEMENT OF NON-DISCRIMINATORY POLICY WAS POSTED ON THE HOMEPAGE OF THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 ON APRIL, 17, 2020 THE SCHOOL RECEIVED A PAYCHECK PROTECTION PROGRAM LOAN OF $2,000,000 GRANTED BY THE SMALL BUSINESS ADMINISTRATION UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT. ON AUGUST 23, 2021, THE SCHOOL RECEIVED NOTICE OF FULL FORGIVENESS OF ITS PPP LOAN. THE SCHOOL DOES NOT OTHERWISE RECEIVE GOVERNMENT FINANCIAL ASSISTANCE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 20005250 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 2690347 0 0 0 0 0 0 22695597 0 22695597 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCH F, PART I, 3(F) THE LISTED INVESTMENTS ARE PART OF THE SCHOOL'S ENDOWMENT. 1 FINANCIAL AID 123 4386889 FMV FINANCIAL ASSISTANCE PROVIDED AS A REDUCTION TO TUITION CHARGES SUPPLEMENTAL AID 12 22225 FMV BOOKS, HEALTH INSURANCE PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED DETERMINED BY SCHOOL AND STUDENT SERVICES (SSS) GUIDELINES WHICH PROVIDES A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED ON AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 CHISHOLM S CHANDLER HEAD OF SCHOOL (FORMER) 372352 0 0 0 631735 0 94000 0 84754 0 1182841 0 518677 0 ROBERT D WYNNE INTERIM HEAD OF SCHOOL 336944 0 0 0 138 0 79000 0 51662 0 467744 0 0 0 JOSEPHINE LEARY INTERIM CFO 252500 0 0 0 258 0 25000 0 0 0 277758 0 0 0 PETER GILBERT ASST HEAD OF SCHOOL FOR INSTITUTIONA 225944 0 0 0 258 0 23000 0 22656 0 271858 0 0 0 WILLIAM WARDER DIRECTOR OF ADMISSIONS 120992 0 0 0 90 0 6438 0 46454 0 173974 0 0 0 ELECTRA W TORTORELLA DIR. OF LEADERSHIP AND PLA 117465 0 0 0 258 0 9496 0 33311 0 160530 0 0 0 WILLIAM BOYER DIR. OF BUILDINGS, GROUNDS 129256 0 0 0 2402 0 13100 0 14763 0 159521 0 0 0 ANTHONY FRAENKEL DIRECTOR OF DINING SERVICES 119005 0 0 0 396 0 12750 0 26663 0 158814 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDED HOUSING TO THE INTERIM HEAD OF SCHOOL, ROBERT WYNNE, WHICH IS NOT TREATED AS TAXABLE INCOME. INCLUDED IN OTHER TAXABLE COMPENSATION OF THE FORMER HEAD OF SCHOOL ARE A HOUSING ALLOWANCE, AUTO ALLOWANCE, CLUB DUES AND LIFE INSURANCE PREMIUM. PART I, LINE 4B THE FORMER HEAD OF SCHOOL AND INTERIM HEAD OF SCHOOL PARTICIPATE IN A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PLAN AMOUNTS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE AND WILL VEST ON JUNE 30, 2021 AND JUNE 30, 2025, RESPECTIVELY, IF EACH INDIVIDUAL IS CONTINUOUSLY EMPLOYED BY THE SCHOOL THROUGH THAT DATE. THE FORMER HEAD OF SCHOOL'S COMPENSATION INCLUDES PAYMENT OF HIS VESTED BALANCE IN 2021. A STATE OF CONNECTICUT HEALTH AND EDUCATION FACILITIES AUTHORITY 060806186 2020-12-11 43601000 REFUND SERIES D BONDS 0 0 0 A 1447000 43601000 321738 42154000 2020 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 1 1 0 0 0 0 1 A 1 AMY WYNNE SPOUSE OF ACTING HEAD 36894 SALARIES PAID FOR ROLES AS ASSISTANT LIBRARIAN AND LEARNING CENTER INSTRUCTOR 0 CAROLINE GILBERT SPOUSE OF ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCEMENT 3937 SALARIES PAID FOR LEARNING CENTER INSTRUCTOR 0 X 172 FMV X 15661 FMV X 48 1403235 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I(B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY TAX ADVISORS WITH INFORMATION PROVIDED BY MANAGEMENT. IT IS REVIEWED BY THE CFO, CONTROLLER AND AUDIT COMMITTEE. THE AUDIT COMMITTEE THEN MAKES ANY CHANGES AND APPROVES THE FORM 990. A COPY OF THE FORM 990 EXCLUDING SCHEDULE B, DONOR INFORMATION, IS PROVIDED TO ALL TRUSTEES BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST STATEMENTS ARE REVIEWED AT THE ANNUAL BOARD MEETING. THE SCHOOL ANNUALLY CERTIFIES THAT THERE ARE NO CONFLICTS. THE CONFLICT OF INTEREST POLICY COVERS TRUSTEES. THE SCHOOL'S EMPLOYEE POLICY AND PROCEDURE MANUAL INCLUDES A CONFLICT OF INTEREST POLICY THAT COVERS OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE REVIEWS OFFICER AND KEY EMPLOYEE COMPENSATION ANNUALLY AND PRESENTS A RECOMMENDATION AT THE SPRING MEETING. ABOPS COMPENSATION DATA IS USED FOR COMPARABILITY STUDIES. THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST AND ARE ON FILE IN THE BUSINESS OFFICE OF THE SCHOOL. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE TRUSTS -391,106. PROVISION FOR UNCOLLECTABLE PLEDGES 75,332. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.