SALEM ACADEMY & COLLEGE: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- SALEM ACADEMY & COLLEGE (EIN 56-0530005)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-15
- IRS object ID
- 201321359349301377
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-15T08:59:36-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 N ELM ST STE 1100 | AddressLine1 |
| City | GREENSBORO | City |
| State | NC | State |
| ZIP Code | 27401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560530005 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SALEM ACADEMY AND COLLEGE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SALE | NameControl |
| Phone | 3367212615 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 S CHURCH ST | AddressLine1 |
| City | WINSTONSALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DEREK BRYAN | Name |
| Title | CFO | Title |
| Phone | 3367212615 | Phone |
| Date Signed | 2013-05-13 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ADRIENNE MCKINNEY | Name |
| PTIN | P00819656 | PTIN |
| Phone | 3362724551 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DR SUSAN PAULY | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 S CHURCH ST | AddressLine1 |
| City | WINSTONSALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 38411942 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | HTTP://WWW.SALEM.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1772 | YearFormation |
| State Legal Domicile | NC | StateLegalDomicile |
| Activity Or Mission Description | SEE SCHEDULE O.SALEM COLLEGE IS AN INDEPENDENT COLLEGE COMMITTED TO THE LIBERAL ARTS AND QUALITY PROFESSIONAL PREPARATION. FOUNDED BY THE MORAVIAN CHURCH IN 1772 AS A SCHOOL FOR GIRLS, SALEM STRIVES TO SET ITS SIGNATURE UPON ITS STUDENTS BY ENCOURAGING THEM TO RECOGNIZE AND STRENGTHEN THEIR HUMAN FACULTIES AND THEIR CAPACITIES FOR SERVICE, PROFESSIONAL LIFE, AND LEADERSHIP. IN LIGHT OF SUCH EVIDENCE THAT SUCH POWERS FLOURISH WHEN WOMEN LIVE AND LEARN WITHIN A COMMUNITY DEDICATED TO THEIR EDUCATION, SALEM AFFIRMS ITS COMMITMENT TO YOUNG WOMEN IN A RESIDENTIAL SETTING. AS A RESULT OF THE HISTORICAL EVOLUTION OF ITS MISSION, THE COLLEGE EDUCATES BOTH WOMEN AND MEN IN THE COMMUNITY THROUGH ITS CONTINUING STUDIES PROGRAM AND GRADUATE PROGRAMS IN EDUCATION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 32 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 32 | NbrIndependentVotingMembers |
| Total Nbr Employees | 838 | TotalNbrEmployees |
| Total Nbr Volunteers | 82 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 5368289 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 7798471 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 22155839 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 25300670 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1424437 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3386178 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1401751 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1245859 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 30350316 | TotalRevenuePriorYear |
| Total Revenue Current Year | 37731178 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 9334098 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 11158247 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12464899 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 13289262 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 721986 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 8832036 | OtherExpensePriorYear |
| Other Expenses Current Year | 9459883 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 30631033 | TotalExpensesPriorYear |
| Total Expenses Current Year | 33907392 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -280717 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3823786 | RevenuesLessExpensesCY |
| Total Assets BOY | 90112437 | TotalAssetsBOY |
| Total Assets EOY | 91726988 | TotalAssetsEOY |
| Total Liabilities BOY | 17756358 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 20139952 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 72356079 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 71587036 | NetAssetsOrFundBalancesEOY |
| Mission Description | SEE SCHEDULE O. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 26285011 | Expense |
| Grants | 11158247 | Grants |
| Revenue | 22921041 | Revenue |
| Description | SALEM ACADEMY & COLLEGE PROVIDES A COLLEGE EDUCATION TO APPROXIMATELY 1,100 FULL-TIME STUDENTS, A HIGH SCHOOL EDUCATION TO APPROXIMATELY 175 FULL-TIME STUDENTS (GRADES 9-12) AND PROVIDES CONTINUING EDUCATION TO APPROXIMATELY 400 PART-TIME STUDENTS THROUGHOUT THE COMMUNITY. THE COLLEGE ALSO PROVIDES ADEQUATE FOOD SERVICES AND HOUSING TO APPROXIMATELY 500 STUDENTS WHO MAINTAIN RESIDENCE ON THE CAMPUS OF SALEM COLLEGE AND 110 STUDENTS WHO MAINTAIN RESIDENCE ON THE CAMPUS OF SALEM ACADEMY. | Description |
| Total Program Service Expense | 26285011 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 1 | ConservationEasements |
| Collections Of Art | 1 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 1 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 1 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 1525 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 838 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 32 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 32 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DEREK BRYAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3369175472 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 S CHURCH ST | AddressLine1 |
| City | WINSTON SALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (38 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| WINIFRED CURRIE BALLENGER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| LISA HERRON BANKOFF | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DEANA BASS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ELIZABETH COPELAND BECHER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MARY MARTHA W BEECY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| CHARLES A BLIXT | |||||||
| TREASURER | 1.00 | X | 0 | 0 | 0 | X | |
| D WAYNE BURKETTE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ROBIAUN L CHARLES | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ANN WILSON CRAMER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| L DUANE DAVIS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MARY MAPLES DUNN | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| RODGERYN R FLOW | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MCDARA P FOLAN III | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| GINGER RENICK GRIFFIN | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| SALLIE CRAIG TUTON HUBER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| STEPHEN G JENNINGS | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| LEIGH FLIPPIN KRAUSE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MARTHA RIGGS LOWRY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JENNIFER REINHARDT LYNCH | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MARTHA JOHNSTON MANNING | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| CHI-CHI ZIGLAR MESSICK | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM H PETREE JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM R PHILLIPS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| S MARGARET PIKE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| M ELIZABETH RADER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REBECCA HEWIT RAUENHORST | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ANNA MCCOY SMITH | |||||||
| SECRETARY | 1.00 | X | 0 | 0 | 0 | X | |
| NANCY TAYLOR SUMNER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| GWYNNE STEPHENS TAYLOR | |||||||
| CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| RAMON VELEZ | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JIANMIN WANG | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| WALLACE C WU | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DEREK R BRYAN | |||||||
| CFO | 40.00 | 105594 | 0 | 16802 | X | ||
| SUSAN CALOVINI | |||||||
| VP AND DEAN OF THE COLLEGE | 40.00 | 57562 | 0 | 7779 | X | ||
| WANDA R MOTSINGER | |||||||
| ASSISTANT SECRETARY | 40.00 | 39551 | 0 | 10377 | X | ||
| SUSAN ELIZABETH PAULY | |||||||
| PRESIDENT | 60.00 | 196786 | 0 | 17249 | X | ||
| VICKI W SHEPPARD | |||||||
| ASSISTANT TREASURER | 40.00 | 100856 | 0 | 13388 | X | ||
| KARL J SJOLUND | |||||||
| ACADEMY HEAD | 40.00 | 114133 | 0 | 24038 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 614482 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 89633 | TotalOtherCompensation |
| Number Individuals GT100 K | 4 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ARAMARK SERVICES INC | |||||
| 601 S CHURCH ST BOX 11 | WINSTON SALEM | NC | 27101 | DINING SERVICES | 1640328 |
| KIEGER GRAPHIC COMMUNICATIONS | |||||
| 3735 KIMWELL DRIVE | WINSTON SALEM | NC | 27103 | PRINTING SERVICES | 215971 |
| RESOURCE PAINTING | |||||
| PO BOX 1428 | YADKINVILLE | NC | 27055 | PAINTING & REPAIRS | 208703 |
| FIRST AMERICAN EQUIPMENT FINANCE | |||||
| 1801 W OLYMPIC BLVD | PASADENA | CA | 91199 | EQUIPMENT LEASING | 177890 |
| BARNES & NOBLE COLLEGE BOOKSELLERS | |||||
| PO BOX 823660 | PHILADELPHIA | PA | 19182 | BOOK STORE OPERATION | 136233 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Government Grants | 855763 | GovernmentGrants |
| All Other Contributions | 6942708 | AllOtherContributions |
| Noncash Contributions | 40305 | NoncashContributions |
| Total Contributions | 7798471 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | ExclusionExclusionAmount |
|---|---|---|---|---|
| TUITION AND FEES | 611710 | 18511609 | 18511609 | |
| FOOD SERVICES | 611710 | 3565427 | $3,565,427 | |
| HOUSING REVENUE | 611710 | 3209925 | 3209925 | |
| BOOK STORE REVENUE | 611710 | 13709 | 13709 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 25300670 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1175225 | TotalRevenueColumn |
| Exclusion | $1,175,225 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 124650 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 64589 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 60061 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 60061 | TotalRevenueColumn |
| Exclusion | $60,061 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2827128 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 616175 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2210953 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2210953 | TotalRevenueColumn |
| Exclusion | $2,210,953 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| OTHER REVENUE | 611710 | 745382 | 745382 |
| GOVERNOR'S SCHOOL | 611710 | 296969 | 296969 |
| COMMUNITY SERVICE | 611710 | 143447 | 143447 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1185798 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 37731178 | TotalRevenueColumn |
| Related Or Exempt Function Income | 22921041 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $7,011,666 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11158247 | Total |
| Program Services | 11158247 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 642549 | Total |
| Management And General | 444038 | ManagementAndGeneral |
| Fundraising | 198511 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10246833 | Total |
| Program Services | 7443649 | ProgramServices |
| Management And General | 2492472 | ManagementAndGeneral |
| Fundraising | 310712 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 423862 | Total |
| Program Services | 315928 | ProgramServices |
| Management And General | 94795 | ManagementAndGeneral |
| Fundraising | 13139 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1228600 | Total |
| Program Services | 679417 | ProgramServices |
| Management And General | 502066 | ManagementAndGeneral |
| Fundraising | 47117 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 747418 | Total |
| Program Services | 530974 | ProgramServices |
| Management And General | 179707 | ManagementAndGeneral |
| Fundraising | 36737 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20771 | Total |
| Management And General | 20771 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 105514 | Total |
| Management And General | 105514 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 137302 | Total |
| Management And General | 137302 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 303300 | Total |
| Program Services | 120713 | ProgramServices |
| Management And General | 182587 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 452209 | Total |
| Program Services | 311831 | ProgramServices |
| Management And General | 115733 | ManagementAndGeneral |
| Fundraising | 24645 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 636904 | Total |
| Program Services | 317010 | ProgramServices |
| Management And General | 313768 | ManagementAndGeneral |
| Fundraising | 6126 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 434761 | Total |
| Program Services | 201252 | ProgramServices |
| Management And General | 214399 | ManagementAndGeneral |
| Fundraising | 19110 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10000 | Total |
| Program Services | 10000 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7712 | Total |
| Program Services | 7712 | ProgramServices |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 357004 | Total |
| Program Services | 316581 | ProgramServices |
| Management And General | 25236 | ManagementAndGeneral |
| Fundraising | 15187 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 461483 | Total |
| Management And General | 461483 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1719625 | Total |
| Program Services | 1375700 | ProgramServices |
| Management And General | 343925 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 270113 | Total |
| Management And General | 270113 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| CONTRACTS - FOOD SERVIC | 1428123 | 1428123 | |
| UTILITIES | 840910 | 672728 | 168182 |
| REPAIRS & MAINTENANCE | 750367 | 600294 | 150073 |
| MISCELLANEOUS | 660367 | 354748 | 305619 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 863418 | Total |
| Program Services | 440104 | ProgramServices |
| Management And General | 372612 | ManagementAndGeneral |
| Fundraising | 50702 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33907392 | Total |
| Program Services | 26285011 | ProgramServices |
| Management And General | 6900395 | ManagementAndGeneral |
| Fundraising | 721986 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2005862 | BOY |
| EOY | 2330092 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2238402 | BOY |
| EOY | 4631987 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 358949 | BOY |
| EOY | 446665 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 303552 | BOY |
| EOY | 215790 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1283468 | BOY |
| EOY | 1303173 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 56791268 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 32430084 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23206566 | BOY |
| EOY | 24361184 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 42640310 | BOY |
| EOY | 41322331 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8064704 | BOY |
| EOY | 7468919 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10010624 | BOY |
| EOY | 9646847 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 90112437 | BOY |
| EOY | 91726988 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1430662 | BOY |
| EOY | 1371523 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 671305 | BOY |
| EOY | 568251 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14000000 | BOY |
| EOY | 13500000 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 177818 | BOY |
| EOY | 257309 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 2397449 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1476573 | BOY |
| EOY | 2045420 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17756358 | BOY |
| EOY | 20139952 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5816465 | BOY |
| EOY | 4185225 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15395176 | BOY |
| EOY | 14819901 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 51144438 | BOY |
| EOY | 52581910 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 72356079 | BOY |
| EOY | 71587036 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 90112437 | BOY |
| EOY | 91726988 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3823786 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -4592829 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Historic Structure | X | HistoricStructure |
| Total Number Of Easements | 1 | TotalNumberOfEasements |
| Nmbr Hist Struct Easements | 1 | NmbrHistStructEasements |
| Nmbr Easements Modified | 0 | NmbrEasementsModified |
| Nmbr States In Which Easements Held | 1 | NmbrStatesInWhichEasementsHeld |
| Written Policy Monitoring | 1 | WrittenPolicyMonitoring |
| Staff Hours Spent On Enforcement | 20.00 | StaffHoursSpentOnEnforcement |
| Expenses Incurred For Enforcement | 1500 | ExpensesIncurredForEnforcement |
| Sect170h Requirements Satisfied | 1 | Sect170hRequirementsSatisfied |
| Collect Used For Public Exhibition | X | CollectUsedForPublicExhibition |
| Collect Used For Scholar Research | X | CollectUsedForScholarResearch |
| Collect Used For Preservation | X | CollectUsedForPreservation |
| Solicited Assets For Sale | 0 | SolicitedAssetsForSale |
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 52844007 | BeginningOfYearBalance |
| Contributions | 1805618 | Contributions |
| Investment Earnings Or Losses | -389170 | InvestmentEarningsOrLosses |
| Other Expenditures | 2670112 | OtherExpenditures |
| End Of Year Balance | 51590343 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 45553433 | BeginningOfYearBalance |
| Contributions | 1466429 | Contributions |
| Investment Earnings Or Losses | 9077612 | InvestmentEarningsOrLosses |
| Other Expenditures | 3253467 | OtherExpenditures |
| End Of Year Balance | 52844007 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 42688892 | BeginningOfYearBalance |
| Contributions | 1645876 | Contributions |
| Investment Earnings Or Losses | 4332568 | InvestmentEarningsOrLosses |
| Other Expenditures | 3113903 | OtherExpenditures |
| End Of Year Balance | 45553433 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 56807530 | BeginningOfYearBalance |
| Contributions | 1765944 | Contributions |
| Investment Earnings Or Losses | -13129433 | InvestmentEarningsOrLosses |
| Other Expenditures | 2755149 | OtherExpenditures |
| End Of Year Balance | 42688892 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.04000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.82000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.14000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1169584 | OtherCostOrOtherBasis |
| Book Value | 1169584 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 39023114 | OtherCostOrOtherBasis |
| Book Value | 39023114 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 16214976 | OtherCostOrOtherBasis |
| Book Value | 16214976 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 383594 | OtherCostOrOtherBasis |
| Depreciation | 32430084 | Depreciation |
| Book Value | -32046490 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 24361184 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PRIVATE EQUITY INVESTMENTS | Description |
| Book Value | 7468919 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 7468919 | TotalOfBookValueSecurities |
Other Assets OtherAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SPLIT INTEREST AGREEMENTS | Description |
| Book Value | 9646847 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 9646847 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| LIABILITIES UNDER SPLIT INTEREST AGREEMENTS | $283,884 |
| REVOLVING PERKINS LOAN | $243,799 |
| INTEREST RATE SWAP LIABILITY | $1,517,737 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2045420 | TotalOfAmounts |
| Total Revenue | 37731178 | TotalRevenue |
| Total Expenses | 33907392 | TotalExpenses |
| Excess Or Deficit For Year | 3823786 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -3622375 | NetUnrealizedGLOnInvestments |
| Other | -$970,454 | OtherAmount |
| Total Adjustments | -4592829 | TotalAdjustments |
| Excess Or Deficit Per FS | -769043 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 21907389 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -3622375 | NetUnrealizedGainsInvestments |
| Other Revenues | -12128701 | OtherRevenues |
| Revenue Not Rptd F990 | -15751076 | RevenueNotRptdF990 |
| Revenue Subtotal | 37658465 | RevenueSubtotal |
| Investment Expenses Not Included | 137302 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | -64589 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 72713 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 37731178 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 22676432 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 64589 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 64589 | ExpensesNotRptdF990 |
| Expenses Subtotal | 22611843 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 137302 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 11158247 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 11295549 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 33907392 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: | PART II, LINE 9: | SALEM'S HISTORIC CONSERVATION EASEMENT IS FOR A HISTORIC STRUCTURE ON CAMPUS THAT IS USED IN SALEM'S DAILY OPERATIONS. REVENUES AND EXPENSES ARE REPORTED IN THE NORMAL OPERATIONS OF THE INSTITUTION AND THE STRUCTURE IS RECORDED WITH OTHER PROPERTY ON THE BALANCE SHEET. |
| PART III, LINE 4: | THE SINGLE SISTERS HOUSE (CONSTRUCTED IN 1785, RENOVATED IN 2006-07) ENCOMPASSES A REMARKABLE STORY OF GIRLS AND WOMEN WHOSE LEADERSHIP AND COMMUNITY SERVICE HELPED BUILD AN EDUCATIONAL INSTITUTION THAT HAS THRIVED FOR OVER 237 YEARS. THE SINGLE SISTERS HOUSE SERVES AS A WELCOME CENTER AND GATEWAY TO THE CAMPUS; PROVIDES CLASSROOMS, CONFERENCE ROOMS, AND A LECTURE HALL; CONTAINS THE OFFICE OF COLLEGE ADMISSION AND PUBLIC RELATIONS; AND A MUSEUM WHERE VISITORS ARE ABLE TO DISCOVER HOW THE SINGLE SISTERS HOUSE AND SCHOOL HAVE ACCOMODATED THE CHANGING NEEDS OF WOMEN FROM THE 18TH TO THE 21ST CENTURIES. | |
| PART IV, LINE 2B: | FUND BALANCES OF STUDENT ACTIVITY ORGANIZATIONS AND HEALTH INSURANCE. | |
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | SALEM'S ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS AND PROGRAM ACTIVITIES. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | SALEM IS EXEMPT FROM FEDERAL INCOME TAXATION AS DEFINED BY SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM STATE INCOME TAXES UNDER THE PROVISIONS OF THE NORTH CAROLINA NONPROFIT CORPORATION ACT. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATIONS ("FASB ASC"). WITH FEW EXCEPTIONS, THE COLLEGE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2009. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -352,017. LOSS ON INTEREST RATE SWAP -618,437. TOTAL TO SCHEDULE D, PART XI, LINE 8: -970,454. | |
| FORM 990, SCHEDULE D, PART XII, LN 2D, OTHER ADJUSTMENTS: CHANGE IN TRUST VALUE AND SPLIT INTERESTS - (352,017) LOSS ON INTEREST RATE SWAP - (618,437) RECLASS GRANTS AND SCHOLARSHIPS TO EXPENSES - (11,158,247) FORM 990. SCHEDULE D, PART XII, LN 4B, OTHER ADJUSTMENTS: RECLASS RENT EXPENSE - (64,589) FORM 990, SCHEDULE D, PART XIII, LN 2D, OTHER ADJUSTMENTS: RECLASS RENT EXPENSE - 64,589 FORM 990, SCHEDULE D, PART XIII, LN 4B, OTHER ADJUSTMENTS: RECLASS GRANTS AND SCHOLARSHIPS TO EXPENSES - 11,158,247 |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | SEE PART II |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | SALEM STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING PELL GRANTS, FEDERAL DIRECT STUDENT LOANS, NC LEGISLATIVE TUITION GRANTS, AND NC STATE CONTRACTUAL SCHOLARSHIPS. |
| SCHEDULE E, LINE 3 - EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION: | THE NONDISCRIMINATORY POLICY IS INCLUDED ON MARKETING MATERIALS AND EMPLOYMENT ADVERTISEMENTS FOR THE SCHOOL. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 1089 | NumberOfRecipients |
| Amount Of Cash Grant | 11158247 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | PART I, LINE 2: | SCHEDULE I, PART I, LINE 2: SALEM GRANTS FUNDS IN THE WAY OF SCHOLARSHIPS TO QUALIFIED STUDENTS IN ITS ACADEMY AND COLLEGE. SALEM MAINTAINS RECORDS ON ALL STUDENTS RECEIVING FINANCIAL AID IN THE FORM OF SALEM GRANTS OR FROM OTHER SOURCES. SALEM COLLEGE COMPLIES WITH ALL APPLICABLE FEDERAL RULES AS IT RELATES TO COLLEGE FINANCIAL AID. |
| SCHEDULE I, PART III, COLUMN B: THE VAST MAJORITY OF SALEM'S COLLEGE STUDENTS RECEIVE SOME FORM OF SCHOLARSHIP FROM THE COLLEGE. SALEM PROVIDES THIS ASSISTANCE THROUGH ENDOWED SCHOLARSHIPS AND INSTITUTIONAL REMISSION (DISCOUNT). SALEM COMPLIES WITH ALL FEDERAL AND STATE REGULATION REGARDING THE REWARDING OF STUDENT FINANCIAL AID AND FILES THE REQUISITE INFORMATION WITH FEDERAL AND STATE AGENCIES AS IT PERTAINS TO ITS STUDENTS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 0 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 0 | SubstantiationRequired |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | SUSAN ELIZABETH PAULY | NamePerson |
| Base Compensation Filing Org | 196657 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 129 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 8333 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 8916 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 214035 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NC CAPITAL FACILITIES FINANCE AGENCY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Date Issued | 2005-01-01 | DateIssued |
| Issue Price | 15000000 | IssuePrice |
| Description Of Purpose | FACILITIES RENOVATION | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Proceeds | 15000000 | TotalProceeds |
| Capital Expenditures | 15000000 | CapitalExpenditures |
| Year Of Subst Completion | 2008 | YearOfSubstCompletion |
| Current Refunding | 0 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Post Issuance Compliance Procdrs | 1 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BB&T | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 10.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Books And Publications BooksAndPublications
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Clothing And Household Goods ClothingAndHouseholdGoods
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 3 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 40105 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (5 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 |
|---|---|---|---|
| X | FOOD & DRINKS FOR EVENT | 2 | 0 |
| X | AUCTION ITEMS | 1 | 0 |
| X | FLOWERS | 1 | 0 |
| X | PIANO | 2 | 0 |
| X | BUILDING IMPROVEMENTS | 1 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| THIRD PARTY USE: | PART I, LINE 32B: | CONTRIBUTIONS OF SECURITIES ARE SOLD BY A LICENSED BROKER. |
| NON REPORTING OF REVENUE: | PART I, LINE 33: | NONCASH CONTRIBUTIONS OTHER THAN SECURITIES ARE NOT BOOKED TO REVENUE. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE 990 PROCESS IS OVERSEEN BY SALEM'S AUDIT COMMITTEE. THE CFO WORKS WITH THE TAX PREPARER TO COMPLETE THE RETURN. IT IS REVIEWED BY THE AUDIT COMMITTEE, AND THEN SENT TO THE FULL BOARD BEFORE FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH YEAR, THE BOARD OF TRUSTEES AND EXECUTIVE TEAM OF SALEM ARE ASKED TO REVIEW THE CONFLICT OF INTEREST POLICY, REVIEW SALEM'S LIST OF MAJOR VENDORS AND PROVIDE A SIGNED STATEMENT STATING ANY RELATIONSHIPS WITH THESE VENDORS AND ANY OTHER ITEMS THAT MAY HAVE THE POTENTIAL TO BE A CONFLICT OF INTEREST. | |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE PRESIDENT IS DETERMINED BY THE BOARD OF TRUSTEES. THE PRESIDENT IS EVALUATED ANNUALLY AND COMPENSATION IS REVIEWED BY THE EXECUTIVE COMMITTEE AND THE FULL BOARD. THE PRESIDENT REVIEWS THE COMPENSATION OF OTHER EXECUTIVE TEAM MEMBERS AND REPORTS TO THE BOARD WHO REVIEWS THESE DECISIONS. SALEM MAKES USE OF SURVEY DATA PROVIDED BY NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES, THE COUNCIL OF INDEPENDENT COLLEGES AND OTHER SOURCES TO DETERMINE THE APPROPRIATE LEVEL OF COMPENSATION FOR OFFICERS/KEY EMPLOYEES AND WOULD ENGAGE ADDITIONAL OUTSIDE CONSULTANTS IF NECESSARY. | |
| FORM 990, PART VI, SECTION C, LINE 19 | OUR CONFLICT OF INTEREST POLICY IS REVIEWED EACH YEAR BY THE BOARD AND SENIOR ADMINISTRATORS AT SALEM. WE WILL COMPLY WITH ALL LAWS REGARDING PUBLIC INSPECTION OF 990S AND OTHER RECORDS. RECORDS ARE MAINTAINED IN THE CFO'S OFFICE RELATED TO 990S AND FINANCIAL STATEMENTS AND IN THE PRESIDENT'S OFFICE CONCERNING OUR CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS. WE MAINTAIN A COPY OF THE 990 FOR PUBLIC INSPECTION IN THE CFO'S OFFICE BY REQUEST. WE DO NOT PLAN AT THIS TIME TO PLACE ANY DOCUMENTATION ON OUR WEBSITE. WE ARE AWARE THAT OUR 990 WILL BE AVAILABLE ON GUIDESTAR. OUR CONFLICT OF INTEREST STATEMENTS AND ANY OTHER GOVERNING DOCUMENTS REQUIRED TO BE AVAILABLE TO THE PUBLIC WOULD BE AVAILABLE BY REQUEST THROUGH THE PRESIDENT'S OFFICE. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -3,622,375. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -352,017. LOSS ON INTEREST RATE SWAP -618,437. TOTAL TO FORM 990, PART XI, LINE 5: -4,592,829. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART I, LINE 6 | VOLUNTEERS TYPICALLY CONSIST OF VOLUNTEER ASSISTANTS WITH ATHLETIC AND PERFORMING ARTS PROGRAMS AND ARE ALL PART TIME AND TEMPORARY IN NATURE. | |
| FORM 990, PART III, LINE 1 | SALEM ACADEMY & COLLEGE PROVIDES A COLLEGE EDUCATION TO APPROXIMATELY 1,050 COLLEGE STUDENTS, A HIGH SCHOOL EDUCATION TO APPROXIMATELY 175 FULL TIME STUDENTS IN GRADES 9-12 AND CONTINUING EDUCATION SERVICES TO APPROXIMATELY 400 PART TIME STUDENTS IN THE COMMUNITY. THE COLLEGE MAINTAINS HOUSING AND FOOD SERVICE TO ACCOMMODATE APPROXIMATELY 500 UNDERGRADUATE COLLEGE STUDENTS AND THE ACADEMY PROVIDES SAME FOR APPROXIMATELY 110 BOARDING STUDENTS WHO MAINTAIN RESIDENCE ON THE CAMPUS OF SALEM ACADEMY. | |
| PART VII, SECTION A, COLUMN F: | THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SALEM RECREATIONAL FIELDS LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 SOUTH CHURCH STREET | AddressLine1 |
| City | WINSTON SALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562272294 | EIN |
| Primary Activities | RECREATION FIELD | PrimaryActivities |
| Legal Domicile State | NC | LegalDomicileState |
| Total Income | 0 | TotalIncome |
| EOY Assets | 737006 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SALEM ACADEMY AND COLLEGE | BusinessNameLine1 |