2025-05-08T09:57:28-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2023-07-01 060646888 SALISBURY SCHOOL INC SALI 8604355711 251 CANAAN RD SALISBURY CT 06068 VAFA VAHID CHIEF FINANCIAL OFFICER 8604355711 2025-05-06 1 0 JOHN TOSCANO P00358542 8605614000 2025-04-09 2023 2025-03-06 01:10:19Z WILLIAM WEBB 251 CANAAN RD SALISBURY CT 06068 41460361 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. THE SCHOOL RECRUITS STUDENTS FROM AROUND THE WORLD. 30 30 226 30 56627 0 9076133 12632723 23280215 24294168 3203486 3023982 2750 78372 35562584 40029245 4501700 4846702 0 0 13711820 15167203 0 0 1898342 12515488 13292318 30729008 33306223 4833576 6723022 231447981 251409345 51698850 48605544 179749131 202803801 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 25972840 4846702 24294168 SALISBURY SCHOOL IS AN INDEPENDENT BOY'S SECONDARY SCHOOL (GRADES 9 THROUGH 12) FOR APPROXIMATELY 320 BOARDING AND DAY STUDENTS. 25972840 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 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 80 0 1 226 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X VAFA VAHID 8604355709 251 CANAAN ROAD 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 TRASURER 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 REVEREND WILLIAM DANAHER VICE SECRETARY 1.00 X X 0 0 0 BAOPEND BAI TRUSTEE 1.00 X 0 0 0 FREDERICK BECK TRUSTEE 1.00 X 0 0 0 SAM A BRADLEY TRUSTEE 1.00 X 0 0 0 MATTHEW CASSIN TRUSTEE 1.00 X 0 0 0 JOHN COLEMAN TRUSTEE 1.00 X 0 0 0 JOHN COUZENS JR 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 ARRMANDO JIMENEZ TRUSTEE 1.00 X 0 0 0 PETER KEEHN TRUSTEE 1.00 X 0 0 0 MICHAEL W MALAFRONTE 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 SADIQ OLANREWAJU TRUSTEE 1.00 X 0 0 0 TIMOTHY REES 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 WILLIAM SLATTERY TRUSTEE 1.00 X 0 0 0 WILLLIAM WEBB HEAD OF SCHOOL 40.00 X 405392 0 104014 VAFA VAHID CFOO 40.00 X 321258 0 18700 ROBERT WYNNE ASSOCIATE HEAD OF SCHOOL 40.00 X 337551 0 141189 PETER GILBERT ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCE 40.00 X 275782 0 78076 JOSEPHINE LEARY DIRECTOR OF FINANCE 40.00 X 204008 0 20375 PETER J RAIFSTANGER DIRECTOR OF TECHNOLOGY 40.00 X 144701 0 45893 KRISTINA MILLER DIRECTOR OF DEVELOPMENT 40.00 X 136148 0 7503 WILLIAM BOYER DIRECTOR OF FACILITIES 40.00 X 134840 0 29082 M BETH HAMMOND DIRECTOR OF HEALTH SERVICES 40.00 X 133040 0 66563 2092720 0 511395 18 0 1 0 BURLINGTON CONSTRUCTION 450 NEW LITCHFIELD STREET TORRINGTON CT 06790 CONSTRUCTION CONTRACTOR 4650495 FIELD TURF 175 NORTH INDUSTRIAL BOULEVARD NE CALHOUN GA 30701 CONSTRUCTION CONTRACTOR 773335 SEGALLA'S TURNKEY HOUSING 3 CEMETERY ROAD CANAAN CT 06018 CONSTRUCTION CONTRACTOR 587683 BUILDING SERVICE CONTRACTORS INC 30-06 43RD AVENUE LONG ISLAND CITY NY 11101 CLEANING CONTRACTOR 215867 MATT'S LANDSCAPING LLC 244 ROUTE 7 SOUTH PO BOX 459 FALLS VILLAGE CT 06031 LANDSCAPING 195418 15 12632723 4895214 12632723 STUDENT TUITION & FEES 611600 23218787 23218787 AUXILIARY SERVICES 611600 839522 839522 STUDENT ATHLETICS AND INCIDENTALS 611600 235859 235859 24294168 1009354 -26257 1035611 1800 0 1800 1800 1800 3445744 1417510 13606 2028234 -13606 2014628 6312 2008316 SUMMER CAMPS 900099 68225 68225 OTHER REVENUES 900099 8347 8347 76572 40029245 24294168 56627 3045727 40000 40000 4806702 4806702 1656995 1303471 353524 79327 67327 12000 10037214 7597314 1766594 673306 663034 516791 90772 55471 1931582 1925351 4089 2142 799051 561527 172663 64861 95168 95168 68450 68450 539566 539566 2036222 1635827 282010 118385 110033 21602 6611 81820 490594 102831 233215 154548 409177 89652 233183 86342 1785799 1602993 182515 291 418445 365041 22591 30813 276788 90119 122803 63866 675846 675846 3164539 3062008 68354 34177 415055 401607 8965 4483 STUDENT INCIDENTALS 2216813 1890035 164862 161916 SUPPLIES 536775 512846 18895 5034 53048 7421 38264 7363 33306223 25972840 5435041 1898342 4163877 4966888 10418769 5525739 5767776 4761389 980148 797005 158659 140626 865303 789170 136922830 58034988 72003264 78887842 6692271 13854838 71330305 81393121 59067609 60292727 231447981 251409345 2666032 2319736 8529338 7157241 40503480 39128567 51698850 48605544 X 53891197 67814579 125857934 134989222 179749131 202803801 231447981 251409345 X 6723022 9512689 6818959 X 0 1 X 1 0 X 5187267 7529924 9906508 9076133 12632723 44332555 5187267 7529924 9906508 9076133 12632723 44332555 12029425 32303130 921890 1896174 708801 967183 1037411 5531459 6079 59957 56627 122663 49986677 111047481 0.64620 0.76950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 80413532 6752164 11543495 1097594 2329345 95282252 75276034 2736673 5521897 929274 2191798 80413532 73099402 6040858 -1073093 825405 1965728 75276034 56546184 1741583 17511635 828685 1871315 73099402 57686822 826393 732969 804802 1895198 56546184 0.30520 0.69480 0.00000 0 0 5394459 5394459 124635267 53317751 71317516 4117118 3488641 628477 2775986 1228596 1547390 78887842 GLOBAL EQUITY 19621788 F HEDGE FUNDS 28247076 F PRIVATE EQUITY 32580195 F OIL AND GAS 801796 F REAL ESTATE 142266 F 81393121 ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 59768563 DEPOSITS 35439 RESTRICTED CASH 6021 DEFERRED COMPENSATION PLAN 482704 60292727 51014625 9512689 2012257 11524946 39489679 539566 539566 40029245 27959955 0 27959955 539566 4806702 5346268 33306223 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 -116,330. CHANGE IN VALUE OF CHARITABLE TRUSTS -4,806,702. FINANCIAL AID 6,935,289. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,806,702. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE STATEMENT OF NON-DISCRIMINATORY POLICY WAS POSTED ON THE HOMEPAGE OF THE SCHOOL'S WEBSITE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 39541673 0 0 0 0 0 0 39541673 0 39541673 1 0 0 1 1 0 SCH F, PART I, 3(F) THE LISTED INVESTMENTS ARE PART OF THE SCHOOL'S ENDOWMENT 1 TOWN OF SALISBURY GOVERNMENT 40000 0 GENERAL SUPPORT 1 FINANCIAL AID 119 4785918 FMV FINANCIAL ASSISTANCE PROVIDED AS A REDUCTION TO TUITION CHARGES SUPPLEMENTAL AID 10 20784 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 X 0 1 0 0 0 0 0 0 0 WILLLIAM WEBB HEAD OF SCHOOL 378713 0 0 0 26679 0 44625 0 59389 0 509406 0 0 0 ROBERT WYNNE ASSOCIATE HEAD OF SCHOOL 337413 0 0 0 138 0 83000 0 58189 0 478740 0 0 0 PETER GILBERT ASSISTANT HEAD OF SCHOOL FOR INSTITU 275524 0 0 0 258 0 53000 0 25076 0 353858 0 0 0 VAFA VAHID CFOO 285000 0 0 0 36258 0 18700 0 0 0 339958 0 0 0 JOSEPHINE LEARY DIRECTOR OF FINANCE 203750 0 0 0 258 0 20375 0 0 0 224383 0 0 0 M BETH HAMMOND DIRECTOR OF HEALTH SERVICES 107902 0 0 0 25138 0 11715 0 54848 0 199603 0 0 0 PETER J RAIFSTANGER DIRECTOR OF TECHNOLOGY 124305 0 0 0 20396 0 13600 0 32293 0 190594 0 0 0 WILLIAM BOYER DIRECTOR OF FACILITIES 132989 0 0 0 1851 0 13950 0 15132 0 163922 0 0 0 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 A STATE OF CONNECTICUT HEALTH AND EDUCATION FACILITIES AUTHORITY 060806186 2020-12-11 43601000 REFUND SERIES D BONDS 0 0 0 A 4207000 43601000 321738 43601000 2020 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 AMY WYNNE SPOUSE OF ASSOCIATE HEAD OF SCHOOL 42000 SALARIES PAID FOR ROLES AS ASSISTANT LIBRARIAN AND LEARNING CENTER INSTRUCTOR 0 SARAH WEBB SPOUSE OF HEAD OF SCHOOL 12000 SALARIES PAID FOR EVENT PLANNING 0 BUSHRA VAHDAT SPOUSE OF CFOO 15952 SALARIES PAID AS EMPLOYEE IN THE COLLEGE OFFICE. 0 X 36 551860 FMV X 1 4343354 APPRAISAL 0 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I COLUMN (A) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF EACH OF THE OFFICERS OF THE BOARD AND UP TO TWO ADDITIONAL TRUSTEES NOMINATED BY THE CHAIR OR CO-CHAIRS AND/OR THE COMMITTEE ON TRUSTEES AND ELECTED BY THE BOARD OF TRUSTEES. THE CHAIR OR CO-CHAIRS OF THE BOARD SHALL BE THE CHAIR OR CO-CHAIRS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL DISCHARGE THE DUTIES OF THE BOARD DURING INTERVALS BETWEEN BOARD MEETINGS, SUBJECT TO SUCH LIMITATIONS AS MAY BE IMPOSED BY RESOLUTION OF THE BOARD; PROVIDED, HOWEVER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO ELECT OR REMOVE AN OFFICER, ADOPT A PLAN OF MERGER OR CONSOLIDATION, AUTHORIZE THE SALE, LEASE, EXCHANGE, OR MORTGAGE OF THE PROPERTY AND ASSETS OF THE CORPORATION, AUTHORIZE THE VOLUNTARY DISSOLUTION OF THE CORPORATION OR REVOKE PROCEEDINGS THEREFORE, OR ADOPT A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION. 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 HEAD OF SCHOOL'S (HOS) COMPENSATION IS REVIEWED AND DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD, AND IS BASED ON THE NEED, MARKET PRICE, AND AVAILABLE COMPARATIVE DATA SUCH AS PEER SCHOOL SURVEYS AND PUBLICLY AVAILABLE DATA SUCH AS FORM 990 REPORTS. THE HOS IS OFFERED AN EMPLOYMENT CONTRACT, WITH THE MERITS TO RENEW THE CONTRACT AND IT'S CORRESPONDING FINANCIAL TERMS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD AT THE END OF THE TERM. KEY EMPLOYEES' ARE ISSUED EMPLOYMENT AGREEMENTS WHICH ARE APPROVED BY THE EXCUTIVE COMMITTEE OF THE BOARD. OTHER OFFICER COMPENSATION IS REVIEWED AND DETERMINED AS PART OF THE ANNUAL BUDGET PROCESS. THE COMPENSATION IS BASED ON THE NEED, MARKET PRICE, AND AVAILABLE COMPARATIVE DATA SUCH AS PEER SCHOOL SURVEYS AND PUBLICLY AVAILABLE DATA SUCH AS FORM 990 REPORTS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. 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 6,935,289. PROVISION FOR UNCOLLECTABLE PLEDGES -116,330. CHARITABLE REMAINDER TRUSTS (6) TRUST CT SALISBURY SCHOOL T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0