Civic Intelligence

Salisbury School Inc.

990 • Fiscal year 2014 • EIN 06-0646888

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 01, 2015

Organization Profilewww.salisburyschool.org

View Organization Page

251 Canaan RdSalisbury, CT 06068

(860) 435-5711

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.43x

Higher debt load relative to assets than 61% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

88th percentile

2.88x

Higher debt load relative to revenue than 88% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

73rd percentile

16%

Higher net margin than 73% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

36th percentile

$355,087

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

56th percentile

6.8%

Faster asset growth than 56% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

23rd percentile

-2.6%

Faster revenue growth than 23% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$199,921,885

Up $12,747,736 (+6.8%) from 2013

Net Assets

Up

$113,886,750

Up $9,657,777 (+9.3%) from 2013

Liabilities

Up

$86,035,135

Up $3,089,959 (+3.7%) from 2013

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin73rd percentile

Revenue

Down

$29,825,823

Down $782,788 (-2.6%) from 2013

Expenses

Up

$25,126,876

Up $1,567,786 (+6.7%) from 2013

Net Income

Down

$4,698,947

Down $2,350,574 (-33%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $165,972,108Liabilities 2010: $77,309,337Net Assets 2010: $88,662,7712010Assets 2011: $181,188,888Liabilities 2011: $83,125,468Net Assets 2011: $98,063,4202011Assets 2012: $176,008,374Liabilities 2012: $80,805,970Net Assets 2012: $95,202,4042012Assets 2013: $187,174,149Liabilities 2013: $82,945,176Net Assets 2013: $104,228,9732013Assets 2014: $199,921,885Liabilities 2014: $86,035,135Net Assets 2014: $113,886,7502014Assets 2015: $230,320,318Liabilities 2015: $110,546,912Net Assets 2015: $119,773,4062015Assets 2016: $207,272,388Liabilities 2016: $97,349,149Net Assets 2016: $109,923,2392016Assets 2017: $225,253,100Liabilities 2017: $105,476,644Net Assets 2017: $119,776,4562017Assets 2018: $184,619,023Liabilities 2018: $56,768,042Net Assets 2018: $127,850,9812018Assets 2019: $186,501,463Liabilities 2019: $52,911,596Net Assets 2019: $133,589,8672019Assets 2020: $183,556,815Liabilities 2020: $53,715,701Net Assets 2020: $129,841,1142020Assets 2021: $220,053,880Liabilities 2021: $54,815,181Net Assets 2021: $165,238,6992021Assets 2022: $219,008,162Liabilities 2022: $50,816,856Net Assets 2022: $168,191,3062022Assets 2023: $231,447,981Liabilities 2023: $51,698,850Net Assets 2023: $179,749,1312023Assets 2024: $251,409,345Liabilities 2024: $48,605,544Net Assets 2024: $202,803,8012024

Highlighted filing

2014

Assets$199,921,885
Liabilities$86,035,135
Net Assets$113,886,750
Open 2014 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $20,994,8902010Expenses 2011: $22,359,3042011Expenses 2012: $23,066,6332012Revenue 2013: $30,608,611Expenses 2013: $23,559,090Net Income 2013: $7,049,5212013Revenue 2014: $29,825,823Expenses 2014: $25,126,876Net Income 2014: $4,698,9472014Revenue 2015: $35,569,364Expenses 2015: $25,881,905Net Income 2015: $9,687,4592015Revenue 2016: $24,658,065Expenses 2016: $25,718,141Net Income 2016: -$1,060,0762016Revenue 2017: $25,556,683Expenses 2017: $26,113,455Net Income 2017: -$556,7722017Revenue 2018: $31,150,360Expenses 2018: $26,609,420Net Income 2018: $4,540,9402018Revenue 2019: $32,329,690Expenses 2019: $27,441,830Net Income 2019: $4,887,8602019Revenue 2020: $27,435,789Expenses 2020: $27,065,585Net Income 2020: $370,2042020Revenue 2021: $31,894,355Expenses 2021: $26,679,025Net Income 2021: $5,215,3302021Revenue 2022: $36,789,064Expenses 2022: $28,159,648Net Income 2022: $8,629,4162022Revenue 2023: $35,562,584Expenses 2023: $30,729,008Net Income 2023: $4,833,5762023Revenue 2024: $40,029,245Expenses 2024: $33,306,223Net Income 2024: $6,723,0222024

Highlighted filing

2014

Revenue$29,825,823
Expenses$25,126,876
Net Income$4,698,947
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 1, 2015
Return Version
2013v4.0
Gross Receipts
$29,830,055
Mission and Program Overview

Mission

Education:salisbury school is an independent boy's secondary school (grades 9 through 12) for boarding and day students. The school recruits from around the world.

Education: Salisbury School is an independent boy's secondary school (grades 9 thru 12) for boarding and day students. The school recruits students from around the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$68,685,705$68,540,154▼ $145,551
Investments Other Securities$46,396,224$54,826,446▲ $8,430,222
Savings and Temporary Cash Investments$18,583,657$17,856,892▼ $726,765
Pledges and Grants Receivable$2,824,229$3,978,594▲ $1,154,365
Cash and Non-Interest-Bearing Accounts$1,731,921$878,981▼ $852,940
Prepaid Expenses and Deferred Charges$798,451$708,150▼ $90,301
Accounts Receivable$288,070$255,338▼ $32,732
Inventories for Sale or Use$237,313$237,171▼ $142
Total Assets$187,174,149$199,921,885▲ $12,747,736
Other Assets Total$47,628,579$52,640,159▲ $5,011,580
Liabilities
Tax Exempt Bond Liabilities$48,160,000$48,160,000→ $0
Other Liabilities$24,708,809$27,282,176▲ $2,573,367
Deferred Revenue$7,178,703$7,582,699▲ $403,996
Accounts Payable and Accrued Expenses$2,897,664$3,010,260▲ $112,596
Total Liabilities$82,945,176$86,035,135▲ $3,089,959
Net Assets / Fund Balance
Unrestricted Net Assets$46,762,830$47,647,885▲ $885,055
Temporarily Rstr Net Assets$31,779,166$39,693,744▲ $7,914,578
Permanently Rstr Net Assets$25,686,977$26,545,121▲ $858,144
Total Net Assets Fund Balance$104,228,973$113,886,750▲ $9,657,777
Total Liabilities and Net Assets / Fund Balance$187,174,149$199,921,885▲ $12,747,736

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$66,340,796$27,334,449$93,675,245
Equipment$892,858$2,428,404$3,321,262
Land$1,306,500-$1,306,500
Other Assets Org$29,116--
Other Securities$2,425--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$76,832,690$3,296,357▲ $7,407,150$2,077,149$85,114,115
2012$67,793,894$6,269,159▲ $4,954,341$1,871,713$76,832,690
2011$69,570,134$1,039,264▼ $761,258$1,752,113$67,793,894
2010$58,456,610$6,931,440▲ $6,324,789$1,848,500$69,570,134
2009$39,475,034$16,317,760▲ $4,643,778$1,683,188$58,456,610
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chisholm ChandlerHeadmasterFT$312,800$42,287$355,087
Chisholm Chandler--$300,000$75,087$355,087
John MagieraBusiness ManagerFT$220,000$33,242$253,242
John Magiera--$200,000$33,242$253,242
Dirck BarhydtDirector of DevelopmentFT$176,750$13,193$189,943
Dirck Barhydt--$176,750$13,193$189,943
Robert WynneDirector of College AdvFT$130,050$29,787$159,837
Robert Wynne--$130,050$29,787$159,837
Peter GilbertDirector of AdmissionsFT$109,500$27,737$137,237
Josephine LearyControllerFT$111,750$5,588$117,338
Andrew GrahamDirector of Leadership GivingFT$109,875$5,494$115,369

Board Members and Trustees

NameTitle
See Attached Listof unpaid trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Lindell FuelsFuel-$594,895
United Construction and EngineeringConstruction-$396,811
Office of Michael RosenfeldProfessional-$321,727
Sysco CtFood-$237,463
US Foodservice IncFood-$215,601
Revenue and Support

Revenue Composition

Contributions and Grants
$8,553,239
Program Service Revenue
$17,904,997
Investment Income
$2,459,582
Other Revenue
$908,005
All Other Contributions
$8,553,239
Change in Net Assets
$4,698,947

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded41$1,178,806
Total Noncash Contributions41$1,178,806

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,825,823
Revenue Not Reported on Form 990
$4,958,830
Total Revenue per Audited Statements
$34,784,653
Total Revenue per Form 990
$29,825,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,435,170
Salaries, Compensation, and Employee Benefits$9,858,021
Grants and Similar Amounts Paid$3,833,685
Total Fundraising Expense$1,289,388
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,893,119$1,445,484$473,980$6,812,583
Grants to Domestic Individuals$3,001,475--$3,001,475
Depreciation Depletion$2,586,591$0$0$2,586,591
Interest$2,281,925$0$0$2,281,925
Occupancy$1,615,345$144,690$585$1,760,620
Other Employee Benefits$724,154$372,525$108,104$1,204,783
Foreign Grants$832,210--$832,210
Current Officers, Directors, Trustees, and Key Employees$355,087$253,242$189,943$798,272
Other Expenses$774,937$0$0$774,937
Fees for Services Other$547,850$141,158$4,061$693,069
Office Expenses$126,288$191,470$287,818$605,576
Payroll Taxes$384,957$103,101$44,168$532,226
Pension Plan Contributions$510,157$0$0$510,157
Fees for Service Investment Mgmnt Fees$0$336,089$0$336,089
Information Technology$23,217$98,996$121,634$243,847
Travel$78,818$98,635$55,484$232,937
Insurance$0$200,477$0$200,477
Advertising$26,144$20,783$0$46,927
Total Functional Expenses$20,347,824$3,489,664$1,289,388$25,126,876

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$25,126,876
Total Expenses per Audited Statements$25,126,876
Total Expenses per Form 990$25,126,876
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability under trust agreemenets$27,282,176

Bond Issues

BondIssuerIssuedIssue PricePurpose
A06-08061862008-05-22$48,160,000Capital projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$48,160,000--$331,484

Bond Financing Compliance

No rebate due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

EIN
06-0646888
Phone
8604355711

Signing Officer

Name
John Magiera
Title
Business Manager
Phone
8604355711
Signed
2015-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Magiera
Formed
1901
Legal Domicile
Ct
Voting Board Members
29
Independent Board Members
28
Employees
222
Volunteers
80

Preparer

Preparer
William Clark
Phone
8602473917
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The School provides a copy of the Federal Form 990”

Pt VI, Line 11B

“to the audit committee. The committee reviews the Form 990”

Pt VI, Line 11B

“This committee then makes any needed changes and”

Pt VI, Line 11B

“approves the Form 990.”

Pt VI, Line 12C

“The School annually certifies that there are no”

Pt VI, Line 12C

“conflicts.”

Pt VI, Line 15A

“The Compensation Committee reviews key employee”

Pt VI, Line 15A

“compensation annually and presents a recommendation”

Pt VI, Line 15A

“at the spring meeting. ABOPS compensation data”

Pt VI, Line 15A

“is used for comparability studies.”

Pt VI, Line 19

“All documents are available upon request and are on”

Pt VI, Line 19

“file in the business office of the School.”

Pt VI, Line 15B

“The Compensation Committee reviews key employee”

Pt VI, Line 15B

“compensation annually and presents a recommendation”

Pt VI, Line 15B

“at the spring meeting. ABOPS compensation data”

Pt VI, Line 15B

“is used for comparability studies.”

Financial Statement Notes

Pt X Line 2

“The School adopted the provisions of Accounting for Uncertainty in Income Taxes. The standard clarifies the accounting for uncertainty in income taxes recognized in an Organization's financial statements and prescribes a threshold of more- likely-than-not for recognition of tax benefits of uncertain tax positions taken or expected to be taken in a tax return. The adoption of this standard did not have an impact on the School's financial statements.”

Pt V Line 4

“Scholarship and other program related expenses”

Raw XML AppendixShowing 400 of 780 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0724154
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IRS990/OtherExpensesGrp/FundraisingAmt03611
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IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt021040
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt161974
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IRS990/OtherExpensesGrp/TotalAmt11314184
IRS990/OtherExpensesGrp/TotalAmt2774937
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IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0140504
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IRS990/OtherSalariesAndWagesGrp/TotalAmt06812583
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt044168
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0103101
IRS990/PayrollTaxesGrp/ProgramServicesAmt0384957
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0798451
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0708150
IRS990/PrincipalOfficerNm0JOHN MAGIERA
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IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611600
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IRS990/ProgramServiceRevenueGrp/Desc1Auxiliary Services
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1712958
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0531913
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$199,921,885
Liabilities
$86,035,135
Net assets
$113,886,750
Revenue
$29,825,823
Expenses
$25,126,876
Net income
$4,698,947
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$251$48.6$203$40.0$33.3$6.72
2023Detailed filing. Detailed filing data is available for this year.$231$51.7$180$35.6$30.7$4.83
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$219$50.8$168$36.8$28.2$8.63
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$220$54.8$165$31.9$26.7$5.22
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$184$53.7$130$27.4$27.1$0.37
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$187$52.9$134$32.3$27.4$4.89
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$185$56.8$128$31.2$26.6$4.54
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$225$105$120$25.6$26.1$0.56
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$207$97.3$110$24.7$25.7$1.06
2015Detailed filing. Detailed filing data is available for this year.$230$111$120$35.6$25.9$9.69
2014Detailed filing. Detailed filing data is available for this year.$200$86.0$114$29.8$25.1$4.70
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$187$82.9$104$30.6$23.6$7.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$176$80.8$95.2$23.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$181$83.1$98.1$22.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$166$77.3$88.7$21.0