2021-02-05T16:22:25-06:00 2020-03-31 263753134 CBIZ MHM LLC 500 BOYLSTON STREET BOSTON MA 02116 990 2019-04-01 050252708 THE PRESERVATION SOCIETY OF NEWPORT COUNTY PRES 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 JAMES M BURRESS DIRECTOR OF FINANCE 4018471000 2021-02-01 1 BRENDA L BOOTH P01342395 6177610600 2021-02-01 2019 2022-09-23 18:48:47Z TRUDY COXE 424 BELLEVUE AVENUE NEWPORT RI 02840 30573813 0 X WWW.NEWPORTMANSIONS.ORG X 1945 RI TO PROTECT, PRESERVE, AND PRESENT AN EXCEPTIONAL COLLECTION OF HOUSE MUSEUMS AND LANDSCAPES. 27 27 493 754 291513 0 5585013 5394788 15558513 16298242 2703006 2274768 1958522 1603393 25805054 25571191 0 0 0 0 13074557 13661202 0 0 616898 10037221 11260046 23111778 24921248 2693276 649943 65147611 60327174 6369801 5737890 58777810 54589284 X THE PRESERVATION SOCIETY OF NEWPORT COUNTY'S MISSION IS TO PROTECT, PRESERVE, AND PRESENT AN EXCEPTIONAL COLLECTION OF HOUSE MUSEUMS AND LANDSCAPES IN ONE OF THE MOST HISTORICALLY INTACT CITIES IN AMERICA. WE HOLD IN PUBLIC TRUST THE NEWPORT (CONT. ON SCHEDULE O) MANSIONS, WHICH ARE AN INTEGRAL PART OF THE LIVING FABRIC OF NEWPORT, RHODE ISLAND. THESE SITES EXEMPLIFY THREE CENTURIES OF THE FINEST ACHIEVEMENTS IN AMERICAN ARCHITECTURE, DECORATIVE ARTS, AND LANDSCAPE DESIGN SPANNING THE COLONIAL ERA TO THE GILDED AGE. THROUGH OUR HISTORIC PROPERTIES, EDUCATIONAL PROGRAMS, AND RELATED ACTIVITIES WE ENGAGE THE PUBLIC IN THE STORY OF AMERICA'S VIBRANT CULTURAL HERITAGE. WE SEEK TO INSPIRE AND PROMOTE AN APPRECIATION OF THE VALUE OF PRESERVATION TO ENRICH THE LIVES OF PEOPLE EVERYWHERE. 0 0 21105077 17591265 THE PRESERVATION SOCIETY OF NEWPORT COUNTY PRESERVES ELEVEN HISTORIC MANSIONS, INCLUDING SEVEN NATIONAL HISTORIC LANDMARKS AND EIGHTY ACRES OF PARKS, GARDENS AND GROUNDS, REPRESENTING MORE THAN 250 YEARS OF SOCIAL AND ARCHITECTURAL HISTORY. DURING THE YEAR, VISITORS TOOK REGULARLY-SCHEDULED TOURS OF THE SOCIETY'S PROPERTIES TO LEARN ABOUT THE BUILDINGS AND THE MEN AND WOMEN WHO GAVE RISE TO THESE SPECIAL PLACES. IN ADDITION TO GENERAL TOURS, THE PRESERVATION SOCIETY OFFERS MANY OTHER LEARNING OPPORTUNITIES, DESIGNED TO PRESENT ITS HOUSES AND COLLECTIONS TO A BROAD AND DIVERSE AUDIENCE IN AS MANY INTERESTING AND ENLIGHTENING WAYS AS POSSIBLE. THESE PROGRAMS INCLUDE INTERNATIONAL SYMPOSIA AND FORUMS, STUDY DAYS, LECTURES, WORKSHOPS, FILMS, TOURS, AND THE OPPORTUNITY FOR VISITORS (CONT. ON SCHEDULE O) TO EXPERIENCE THE TYPE OF GRAND ENTERTAINING FOR WHICH THEY WERE BUILT. EDUCATIONAL PROGRAMS ARE OFFERED YEAR-ROUND. 21105077 1 1 0 1 0 0 1 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 99 0 1 493 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JAMES M BURRESS 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 MRS RICHARD I BURNHAM CHAIRMAN 5.00 X X 0 0 0 MR WILLIAM WOOD PRINCE VICE CHAIRMAN 5.00 X X 0 0 0 MR WILLIAM F LUCEY TREASURER 5.00 X X 0 0 0 MR WILLIAM F HATFIELD SECRETARY 5.00 X X 0 0 0 MS JANET ROBINSON ASSISTANT TREASURER 5.00 X X 0 0 0 MR PETER HARRIS ASSISTANT SECRETARY 5.00 X X 0 0 0 DR HOLLY BANNISTER TRUSTEE 5.00 X 0 0 0 MR MORTIMER BERKOWITZ TRUSTEE 5.00 X 0 0 0 MR ANGUS DAVIS TRUSTEE 5.00 X 0 0 0 MR WILLIAM EGAN TRUSTEE 5.00 X 0 0 0 MS CAROL J EPSTEIN TRUSTEE 5.00 X 0 0 0 MR PETER C ERICHSEN TRUSTEE 5.00 X 0 0 0 MR DAVID FORD TRUSTEE 5.00 X 0 0 0 MR STEVEN GEWIRZ TRUSTEE 5.00 X 0 0 0 MS EADDO KIERNAN TRUSTEE 5.00 X 0 0 0 MS BEVERLY LITTLE TRUSTEE 5.00 X 0 0 0 MS ELIZABETH MCMILLEN TRUSTEE 5.00 X 0 0 0 MS ANN MENCOFF TRUSTEE 5.00 X 0 0 0 MR JOHN MUGGERIDGE TRUSTEE 5.00 X 0 0 0 MS NAOMI NEVILLE TRUSTEE 5.00 X 0 0 0 MR JOHN PEIXINHO TRUSTEE 5.00 X 0 0 0 MS SUSAN PETROVAS TRUSTEE 5.00 X 0 0 0 MR JOHN PICERNE TRUSTEE 5.00 X 0 0 0 MS CINDY STEWART REED TRUSTEE 5.00 X 0 0 0 MRS JOCELYN SHERMAN TRUSTEE 5.00 X 0 0 0 MS DALE VENTURINI TRUSTEE 5.00 X 0 0 0 MR WILLIAM F WILSON TRUSTEE 5.00 X 0 0 0 MS TRUDY COXE CEO & EX. DIR. 50.00 X 257683 0 33697 MR JAMES BURRESS DIR. OF FINANCE 45.00 X 154886 0 19864 MR JOHN RODMAN DIR. MUS. EXPERIENCE 45.00 X 148198 0 26580 MR PHILIP PELLETIER DIR. SPECIAL EVENTS 45.00 X 135760 0 8465 MS TARA FLYNN FRATES DIR. OF DEVELOPMENT 45.00 X 125047 0 21684 MS CYNTHIA O'MALLEY DIR. OF SALES 45.00 X 123470 0 15215 MR TERRY DICKINSON CHIEF OF STAFF 45.00 X 117827 0 8745 1062871 0 134250 10 0 1 0 RP MARZILLI & COMPANY INC 21 TROTTER DRIVE MEDWAY MA 02053 LANDSCAPE CONTRACTOR 636727 FINE CATERING BY R MORIN INC 1 CASINO TERRACE NEWPORT RI 02840 CATERING SERVICES 307536 CROCKER ARCHITECTURAL INC 129 SOUTHBRIDGE ROAD NORTH OXFORD MA 01537 CONSTRUCTION 275067 THOMAS J MCANDREW & ASSOC ONE TURKS HEAD PLACE SUITE 205 PROVIDENCE RI 02903 LEGAL SERVICES 244132 NEWPORT TENT COMPANY 27 HIGHPOINT AVENUE PORTSMOUTH RI 02871 TENT RENTALS 228437 19 1436778 57205 3900805 322771 5394788 ADMISSIONS 900099 11917805 11917805 PROGRAM EVENTS 900099 4264743 4264743 ACADEMIC PROGRAMS 900099 104268 104268 REPRODUCTION INCOME 900099 11426 11426 16298242 450787 2970 447817 19815 0 19815 19815 19815 4917219 3093238 1823981 1823981 1823981 34260 57205 32248 2012 2012 3458702 1877136 1581566 1293023 288543 25571191 17591265 291513 2293625 466130 466130 10600591 9379288 794458 426845 464657 464657 1258712 1105222 112583 40907 871112 755757 83080 32275 188618 188618 80160 80160 22500 22500 738381 483249 255132 523580 523580 1746328 1719102 20784 6442 32927 32927 997162 997162 137532 114110 21167 2255 21645 38 21607 106547 106547 898474 898474 977715 977137 424 154 SPECIAL PROJECTS 1322350 1272350 50000 SPECIAL EVENTS 1027597 985678 41919 REPAIRS & MAINTENANCE 751312 751312 EQUIPMENT & MAINTENANCE 488372 318165 166251 3956 1198846 791526 303256 104064 24921248 21105077 3199273 616898 281426 476021 1845314 1793993 952148 1021281 44443 1167 874571 919246 296019 238628 27806336 10607317 17578658 17199019 32908251 28790183 9745142 9273288 621639 614348 65147611 60327174 1698899 1521031 1082432 883199 3588470 3333660 6369801 5737890 X 24674281 23841172 34103529 30748112 58777810 54589284 65147611 60327174 X 649943 -4847232 8763 X 0 1 X 1 0 X 7707486 5125067 6149562 5585013 5394788 29961916 16324360 16814809 18573425 18871562 19240129 89824285 24031846 21939876 24722987 24456575 24634917 119786201 2539556 821270 843802 1367921 652196 6224745 0 2539556 821270 843802 1367921 652196 6224745 113561456 521079 623043 581093 639018 470602 2834835 521079 623043 581093 639018 470602 2834835 24552925 22562919 25304080 25095593 25105519 122621036 0.92610 0.91490 0.02310 0.03090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22500 22500 24259350 24281850 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 22500 22500 250000 250000 250000 250000 1000000 1500000 FORM 990, SCHEDULE C, PART II-A: THE ORGANIZATION DID NOT HAVE ANY OUT OF POCKET LOBBYING EXPENDITURES IN FY20. HOWEVER, THE ORGANIZATION DID HIRE A LOBBYING FIRM, DOME CONSULTANTS, IN OCTOBER 2019. THE ORGANIZATION PAID THE FIRM $3,750 A MONTH. FOR FY20, PAYMENTS TOTALED $22,500. X X 9 40.00 6 0 0 1 1 10.00 230 X X X X 0 42368425 150208 -2736775 1910574 37871284 42397139 180565 1920241 2129520 42368425 38535415 747297 4951731 1837304 42397139 35307545 878916 4082678 1733724 38535415 37785135 1087643 -1681075 1884158 35307545 0.26060 0.73940 0 0 910050 910050 18499744 4201932 14297812 150931 115665 35266 8245611 6289720 1955891 17199019 LIMITED PARTNERSHIPS 8980611 F BENEFICIAL INTEREST IN TRUST 292677 F 9273288 X 22696651 -4847232 180000 8763 -4658469 27355120 125455 -1909384 -1783929 25571191 26885177 180000 1909384 2089384 24795793 125455 125455 24921248 PART II, LINE 9: THE PRESERVATION SOCIETY OF NEWPORT COUNTY HOLDS CONSERVATION EASEMENTS ON NINE PROPERTIES, WHICH WERE FORMERLY OWNED BY THE SOCIETY. THE SOCIETY DOES NOT GENERALLY ACCEPT DONATED EASEMENTS NOR DOES IT PURCHASE EASEMENTS AS PART OF ITS PROGRAM ACTIVITIES. THERE IS NO VALUE ASSIGNED TO THE SOCIETY'S CONSERVATION EASEMENTS, AND NO FINANCIAL TRANSACTIONS ARISE FROM ITS EASEMENTS. THEREFORE, THE EASEMENTS ARE NOT REFLECTED IN THE STATEMENT OF ACTIVITIES OR THE STATEMENT OF FINANCIAL POSITION. PART III, LINE 1A: PER THE SOCIETY'S FINANCIAL STATEMENT FOOTNOTES: THE SOCIETY'S COLLECTIONS CONSIST OF HISTORIC MANSIONS AND LANDSCAPES AS WELL AS OBJECTS DISPLAYED IN THE MANSIONS, SUCH AS FINE ART, FURNISHINGS AND CLOTHING. THE HISTORICAL COLLECTIONS ARE NOT CAPITALIZED BY THE SOCIETY. IN ADDITION, THE SOCIETY DOES NOT CAPITALIZE REPAIRS OR IMPROVEMENTS TO INEXHAUSTIBLE COLLECTIONS. ALL PURCHASES OF COLLECTION ITEMS AND RESTORATION OR IMPROVEMENTS TO INEXHAUSTIBLE COLLECTIONS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE EXPENDITURE IS MADE AND AMOUNTED TO APPROXIMATELY $708,000 AND $453,000 FOR THE YEARS ENDED MARCH 31, 2020 AND 2019, RESPECTIVELY. THE SOCIETY MAINTAINS A COLLECTIONS POLICY THAT ADDRESSES COLLECTIONS UPKEEP, ACCESSION AND DEACCESSION POLICIES AND OTHER ASPECTS OF COLLECTIONS MANAGEMENT. IN ACCORDANCE WITH THE POLICY OF NOT RECORDING COLLECTIONS IN THE FINANCIAL RECORDS, DONATED COLLECTION ITEMS RECEIVED DURING THE YEAR ARE NOT REFLECTED IN THE STATEMENTS OF ACTIVITIES. NO COLLECTION ITEMS WERE DONATED FOR THE YEARS ENDED MARCH 31, 2020 AND 2019. PART III, LINE 4: THE COLLECTIONS OF THE PRESERVATION SOCIETY OF NEWPORT COUNTY'S HOUSE MUSEUMS, COMPRISING OVER 50,000 OBJECTS, RELFECT THE ORGANIZATION'S MISSION TO PRESENT AND PRESERVE AMERICAN ARCHITECTURE AND DECORATIVE ARTS SPANNING THE COLONIAL ERA TO THE GILDED AGE. THE COLLECTIONS, OTHER THAN ARCHIVAL MATERIALS AND FRAGILE TEXTILES, ARE PERMANENTLY EXHIBITED IN THEIR ORIGINAL HISTORIC CONTEXT OF DOMESTIC INTERIORS AND REFLECT A UNIQUE SURVEY OF THE EVOLUTION OF AMERICAN DESIGN. PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING MAINTAINING THE HISTORIC HOUSES AND OTHER HISTORICAL TREASURES IN THE ORGANIZATION'S COLLECTIONS AND SUPPORTING CERTAIN ANNUAL EDUCATIONAL EVENTS. PART X, LINE 2: THE SOCIETY IS A NOT-FOR-PROFIT ORGANIZATION AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON RELATED INCOME AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. GIVEN THE LIMITED TAXABLE ACTIVITIES OF THE SOCIETY, MANAGEMENT HAS CONCLUDED THAT DISCLOSURES RELATED TO TAX PROVISIONS ARE NOT NECESSARY. THE SOCIETY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE SOCIETY HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AND ITS DETERMINATION AS TO WHAT INCOME IS RELATED AND UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE SOCIETY HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE SOCIETY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE SOCIETY'S FEDERAL TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 8,763. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B -1,877,136. EXPENSES IN PART VIII, LINE 8B -32,248. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B 1,877,136. EXPENSES IN PART VIII, LINE 8B 32,248. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4081559 0 0 0 0 0 0 4081559 0 4081559 1 0 1 1 1 0 PART III ACCOUNTING METHOD: GOLF OUTING 91465 57205 34260 6080 10100 11283 4785 91465 57205 34260 6080 10100 11283 4785 32248 2012 X X X X 0 0 0 0 0 0 0 0 0 MS TRUDY COXE CEO & EX. DIR. 238683 0 0 0 19000 0 15900 0 17797 0 291380 0 0 0 MR JAMES BURRESS DIR. OF FINANCE 135886 0 0 0 19000 0 11287 0 8577 0 174750 0 0 0 MR JOHN RODMAN DIR. MUS. EXPERIENCE 148198 0 0 0 0 0 9283 0 17297 0 174778 0 0 0 SCHEDULE J, PART II, COLUMN (B)(III): PER IRS INSTRUCTIONS, THE AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III) ARE VOLUNTARY 457(B) PAYROLL-DEDUCTION CONTRIBUTIONS MADE BY THE PARTICIPANTS THAT ARE FULLY VESTED. X 4 152085 FMV X EVENT SUPPLIES 85 170686 FMV 0 0 1 0 PART I, COLUMN (B): FOR CONTRIBUTIONS OF ITEMS WHICH ARE ACCESSIONED, THE ORGANIZATION IDENTIFIES EACH GIFT RECEIVED AND REPORTS THE TOTAL NUMBER OF GIFTS (SOME GIFTS CONTAIN MULTIPLE ITEMS). FOR OTHER TYPES OF NON-CASH CONTRIBUTIONS, THE ORGANIZATION IDENTIFIES EACH DONOR BY PURPOSE, SUCH AS A SPECIFIC EVENT. THE ORGANIZATION REPORTS THE SUM OF THE TOTAL NUMBER OF CONTRIBUTORS FOR EACH PURPOSE. SOME CONTRIBUTORS ARE INCLUDED MULTIPLE TIMES, FOR EACH DISCRETE INSTANCE OF PROVIDING A NON-CASH CONTRIBUTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 HAS BEEN PREPARED BY THE SOCIETY'S EXTERNAL AUDITORS AND REVIEWED IN DRAFT WITH THE CHIEF EXECUTIVE OFFICER, DIRECTOR OF FINANCE AND THE AUDIT COMMITTEE. CORRECTIONS AND CHANGES WERE MADE AS NECESSARY. THE BOARD HAS DELEGATED THE PROCESS OF REVIEWING THE 990 TO THE DIRECTOR OF FINANCE, THE CHIEF EXECUTIVE OFFICER, AND THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ORGANIZATION'S CODE OF ETHICS IS PROVIDED TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THESE PEOPLE ARE ASKED TO REVIEW THE CODE AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND IT, HAVE REPORTED ALL POTENITAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS DURING THE COMING YEAR. ALL POTENTIAL CONFLICTS ARE EVALUATED BY THE BOARD TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD CONDUCTED A PERFORMANCE REVIEW AND EVALUATION OF THE CEO MOST RECENTLY IN 2019, WHICH ALSO ESTABLISHED THE CEO'S COMPENSATION FOR THE FOLLOWING YEAR. THE COMMITTEE REVIEWED COMPARABILITY PAY DATA FOR THE CEO, AS WELL AS THE DIRECTOR OF FINANCE, USING COMPENSATION FOR COMPARABLE POSITIONS OBTAINED FROM THE FORMS 990 OF SIMILAR ORGANIZATIONS AS COMPILED BY AN INDEPENDENT EXPERT. THE PAY FOR ALL EMPLOYEES, INCLUDING THE DIRECTOR OF FINANCE, IS ESTABLISHED BY THE CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BY-LAWS), ITS CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND PUBLIC TAX RETURNS AVAILABLE UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. THE ORGANIZATION CURRENTLY DOES NOT CHARGE FOR THE COPIES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 8,763. PSNC HOLDINGS INC 424 BELLEVUE AVE NEWPORT RI 02840 050479546 HOLDS TITLE TO WAREHOUSE HOUSING PSNC INVENTORY RI 501(C)(2) THE PRESERVATION SOCIETY OF NEWPORT COUNTY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0