SALEM ACADEMY AND COLLEGE (EIN 560530005) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1772

Legal Domicile

Principal Officer

DR GARY DAYNES

Phone

3369175764

Tax Period

2024-07-01 to 2025-06-30

SALEM ACADEMY AND COLLEGE, founded in 1772, is a mid-sized nonprofit in the Education sector that reported $33.0M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Net assets of $90.2M represent 33 months of operating reserves.

Mission

SALEM ACADEMY AND COLLEGE IS A DIVERSE COMMUNITY DEDICATED TO EDUCATING GIRLS AND WOMEN AND EMPOWERING THEM TO LEAD. SINCE 1772, SALEM ACADEMY FOSTERS GIRLS TO BECOME COMPASSIONATE AND CREATIVE LEADERS WHO CHART THEIR PATHS WITH CHARACTER, CURIOSITY, AND COURAGE. AT SALEM ACADEMY, CORE VALUES SUCH AS TRANSFORMATIVE LEARNING, COMPREHENSIVE WELLNESS, AND INCLUSIVE COMMUNITY PROVIDE AN EXTRAORDINARY EDUCATIONAL EXPERIENCE TO PREPARE STUDENTS FOR COLLEGE AND LIFE. SALEM COLLEGE, A PREMIER WOMEN'S COLLEGE COMMITTED TO ADVANCING EQUITY IN HEALTH AND IN SOCIETY, IS GROUNDED IN THE LIBERAL ARTS. AT SALEM COLLEGE, CORE VALUES SUCH AS INTELLECTUAL CURIOSITY, EQUITY AND BELONGING, AND COURAGEOUS LEADERSHIP DEVELOPS STUDENTS' POTENTIAL TO PREPARE THEM TO CREATE HEALTHIER AND MORE EQUITABLE COMMUNITIES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,197,048

Program Service Revenue $15,850,694

Investment Income $2,347,439

Other Revenue $4,556,468

TOTAL REVENUE $32,951,649

Expense Breakdown

Grants Paid $10,463,098

Salaries & Benefits $12,493,108

Fundraising Expenses $1,253,638

Program Expenses $24,393,843

Other Expenses $12,768,543

TOTAL EXPENSES $35,724,749

Year-over-Year Comparison

	2024	2023	Change
Revenue	$32,951,649	$38,903,233	-0.2%
Expenses	$35,724,749	$33,341,491	+0.1%
Net Income	$-2,773,100	$5,561,742	-1.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

430

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$947,893

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR PATRICE DAVIS	BOARD CHAIR	10.00	Officer Director	$0	$0	$0
DR JOHN MCCONNELL	BOARD VICE CHAIR	10.00	Officer Director	$0	$0	$0
BROOKE SMITH	SECRETARY	5.00	Officer Director	$0	$0	$0
SALLIE BEASON	TREASURER	5.00	Officer Director	$0	$0	$0
JULIA ARCHER	TRUSTEE	5.00	Director	$0	$0	$0
ELIZABETH BAIRD	TRUSTEE	5.00	Director	$0	$0	$0
BOB BAKER	TRUSTEE	5.00	Director	$0	$0	$0
SARAH BERGA	TRUSTEE	5.00	Director	$0	$0	$0
AKESHIA CRAVEN-HOWELL	TRUSTEE	5.00	Director	$0	$0	$0
LINDA DARDEN	TRUSTEE	5.00	Director	$0	$0	$0
PAMELA FOX	TRUSTEE	5.00	Director	$0	$0	$0
BETH GIANOPULOS	TRUSTEE	5.00	Director	$0	$0	$0
INA BLACKMORE	TRUSTEE	5.00	Director	$0	$0	$0
PAUL KIRCHGRABER	TRUSTEE	5.00	Director	$0	$0	$0
KATHERINE HOLLAND-ORTIZ	TRUSTEE	5.00	Director	$0	$0	$0
DR BRANDY NELSON	TRUSTEE	5.00	Director	$0	$0	$0
BARBARA RIMER	TRUSTEE	5.00	Director	$0	$0	$0
ANNE SALISBURY	TRUSTEE	5.00	Director	$0	$0	$0
SYDNEY TAYLOR	TRUSTEE	5.00	Director	$0	$0	$0
SUMMER MCGEE	PRESIDENT	50.00	Officer	$297,415	$28,815	$326,230
DAVID BROWNING	VP FINANCE/CFO	50.00	Officer	$184,831	$11,007	$195,838
KATHRYN BARNES	VP OF INSTITUTIONAL ADVANCEMENT	50.00	Officer	$139,733	$10,607	$150,340
KRIS SORRELLS	HEAD OF ACADEMY	50.00	Officer	$107,267	$9,751	$117,018
BRETT WOODS	VP FOR ACADEMIC AFFAIRS	50.00	Officer	$148,665	$9,802	$158,467
JANAE JOYNER	CHIEF OF STAFF	50.00	Highest	$164,371	$10,377	$174,748
TINA KRAMER	EXECUTIVE DIRECTOR OF OPERATIONS	50.00	Highest	$120,629	$9,876	$130,505
SCOTT MORIN	ASST VP OF FINANCE & CONTROLLER	50.00	Highest	$114,623	$9,486	$124,109
GLENN MCGEE	ADMISSIONS DIRECTOR	50.00	Highest	$113,550	$10,488	$124,038
MEAGAN COUGHLIN	EXECUTIVE DIRECTOR OF MARKETING & COMM	50.00	Highest	$112,769	$9,159	$121,928

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$32,951,649	$35,724,749	$113,423,987	$-2,773,100
2024	No data	No data	No data	No data
2023	$26,737,424	$30,327,637	$104,896,332	$-3,590,213
2022	$38,128,049	$28,045,179	$103,796,361	$10,082,870
2021	$29,232,821	$24,671,600	$113,881,751	$4,561,221
2020	$28,898,853	$31,514,402	$98,321,243	$-2,615,549
2019	$41,882,339	$37,286,396	$99,050,637	$4,595,943
2018	$40,493,943	$42,835,787	$101,972,275	$-2,341,844

SALEM ACADEMY AND COLLEGE