2020-07-15T12:50:13-05:00 2019-06-30 271728945 PKF O'CONNOR DAVIES LLP 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2018-07-01 050258900 LINCOLN SCHOOL LINC 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 JANE PALESTINE PRESIDENT 4013319696 2020-07-14 1 KERRI RAWCLIFFE P01398485 4016216200 2020-07-14 68.228.144.73 2020-07-14 18:26:22 ED P 13BE1B6A5227D4F55A37292288937B12C08059A8 1F9955982BA2235091053AB973B2B4999F16CC09 2018 2020-09-23 17:36:50Z JANE PALESTINE 301 BUTLER AVENUE PROVIDENCE RI 029065545 17960978 0 X WWW.LINCOLNSCHOOL.ORG X 1884 RI LINCOLN SCHOOL'S MISSION IS TO PROVIDE AN INDEPENDENT COLLEGE PREPERATORY SCHOOL FOR GIRLS WHERE HIGH ACADEMIC AND ETHICAL STANDARDS CHALLENGE STUDENTS FROM NURSERY THROUGH GRADE TWELVE TO NURTURE THEIR SPECIAL TALENTS AND INTERESTS. 23 23 205 208 0 0 1278247 3028777 13781186 14723715 19397 29763 158990 40966 15237820 17823221 4716140 5099810 0 0 8616521 9009770 0 0 565485 3414883 3683889 16747544 17793469 -1509724 29752 30295876 31089304 3440334 3510193 26855542 27579111 LINCOLN SCHOOL'S DYNAMIC ACADEMIC PROGRAM, ROOTED IN QUAKER PRINCIPLES, EDUCATES GIRLS TO FEARLESSLY EMBRACE THE OPPORTUNITIES AND RESPONSIBILITIES OF FULL CITIZENSHIP IN A COMPLEX WORLD. 0 0 14203446 5099810 13346795 INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE. 121171 305193 ENRICHMENT AND EXTENDED DAY - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AND EXTENDED DAY CARE AFTER SCHOOL HOURS. 21975 1043075 INFANT TODDLER CARE - INFANT AND TODDLER DAYCARE SERVICES. 17163 31200 17163 31200 14363755 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 27 0 205 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X BRENDA L KONOPELKO 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 MARTHA BOSS BENNETT PRESIDENT 2.00 X X 0 0 0 HEATHER HAHN FOWLER VICE PRESIDENT, BD OF TRUS 2.00 X X 0 0 0 JANE PALESTINE JAMIESON VICE PRESIDENT, BD OF TRUS 2.00 X X 0 0 0 NANCY NAHIGIAN TAVITIAN VICE PRESIDENT, BD OF TRUS 2.00 X X 0 0 0 TIM COGGINS TREASURER 2.00 X X 0 0 0 RUSSELL CAREY SECRETARY 2.00 X X 0 0 0 PAULA MURRAY MCNAMARA PAST PRESIDENT 2.00 X X 0 0 0 KATHRIN BELLIVEAU TRUSTEE 2.00 X 0 0 0 BARBARA LEONARD BENNETT TRUSTEE 2.00 X 0 0 0 PAUL BOGHOSIAN TRUSTEE 2.00 X 0 0 0 ALLISON GELFUSO BUTLER TRUSTEE 2.00 X 0 0 0 JIM CASEY TRUSTEE 2.00 X 0 0 0 STEPHANIE CHAMBERLIN TRUSTEE 2.00 X 0 0 0 PRISCILLA GLUCKSMAN PARENT ASSOC. PRESIDENT 2.00 X 0 0 0 SUSAN HIBBITT TRUSTEE 2.00 X 0 0 0 MIH-HO CHA NEENAN ALUMNAE ASSOC. PRESIDENT 2.00 X 0 0 0 ARLENE TATE SCHULER TRUSTEE 2.00 X 0 0 0 NANCY BOGHOSSIAN STAPLES TRUSTEE 2.00 X 0 0 0 DAVE CALDWELL JR TRUSTEE 2.00 X 0 0 0 LETICIA LOPES TRUSTEE 2.00 X 0 0 0 BRENDAN MCNALLY TRUSTEE 2.00 X 0 0 0 MARY LIOCE-NARVELL TRUSTEE 2.00 X 0 0 0 CYNTHIA PATTERSON TRUSTEE 2.00 X 0 0 0 SUZANNE FOGARTY HEAD OF SCHOOL 50.00 X 302257 0 42987 ELIZABETH MURZYCKI INTERIM CHIEF FINANCIAL OF 50.00 X 133510 0 17410 MOLLY GARRISON DIRECTOR OF ADVANCEMENT 40.00 X 135735 0 20172 PETER BROOKS DIRECTOR OF UPPER SCHOOL 40.00 X 112750 0 9584 MAUREEN DEVLIN DIRECTOR OF LOWER SCHOOL 40.00 X 109265 0 15347 793517 0 105500 5 0 1 0 SHAWMUT DESIGN AND CONSTRUCTION 3 DAVOL SQUARE SUITE A275 PROVIDENCE RI 02903 GENERAL CONTRACTOR/CONSTRUCTION 1183182 FLIK COMPASS GROUP USA PO BOX 417632 BOSTON MA 02241 DINING SERVICES 424199 WORLD LEADERSHIP SCHOOL 4000 PINE BROOK ROAD ALEXANDRIA VA 22310 GLOBAL PROGRAMS PARTNER 128797 IMPERIAL BUILDING MAINTENANCE 849 POST ROAD WARWICK RI 02888 CLEANING SERVICES 103618 4 16282 137295 2875200 399037 3028777 TUITION AND FEES 611710 13346795 13346795 INFANT TODDLER CARE 611710 1043075 1043075 ENRICHMENT PROGRAMS 611710 305193 305193 RENTAL TO UNAFFILIATED EXEMPT ORG 611710 28652 28652 14723715 26931 26931 2832 0 2832 2832 2832 119431 137295 127716 -8285 -8285 12589 10041 2548 2548 MISCELLANEOUS INCOME 611710 46703 46703 46703 17823221 14726263 0 68181 5099810 5099810 460050 354823 81326 23901 6927298 5342817 1224586 359895 503698 388487 89042 26169 500155 385755 88416 25984 618569 477083 109349 32137 13960 560 13400 35285 35285 73715 73715 565718 527124 35975 2619 40898 9575 31323 184113 65638 99517 18958 133834 132266 11 1557 194943 194943 145608 112603 30182 2823 55906 50012 4932 962 1079851 922972 139128 17751 144686 333 144353 SUPPLIES & EQUIPMENT 332614 182351 125791 24472 GENERAL ALL SCHOOL EXPE 283482 272703 6869 3910 BUILDING MAINTENANCE 256393 2724 252895 774 HEAD'S DISCRETIONARY FU 69631 32613 14374 22644 73252 3506 68817 929 17793469 14363755 2864229 565485 861536 1195356 15036 15151 456500 1493000 205313 88102 16020 18732 209587 131959 28675535 13722790 15425225 14952745 1193575 1330693 11913084 11863566 30295876 31089304 918546 1376795 957335 945026 1500000 1132801 64453 55571 3440334 3510193 X 12955552 12484716 1054813 1523066 12845177 13571329 26855542 27579111 30295876 31089304 X 29752 695054 -1237 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11864979 400 584570 512666 73717 11863566 11323122 20750 1078155 471769 85279 11864979 9130314 2003311 1308837 1048311 71029 11323122 9775214 213577 -201184 595675 61618 9130314 9999380 37516 165679 361285 66076 9775214 1.00000 1 0 331046 331046 22489261 9633062 12856199 3331988 2322784 1009204 2523240 1766944 756296 14952745 BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION 11863566 11863566 POSTRETIREMENT BENEFITS OTHER THAN PENSION 20066 ANNUITIES PAYABLE 35505 55571 X 13472466 695054 695054 12777412 73715 4972094 5045809 17823221 12748897 128953 128953 12619944 73715 5099810 5173525 17793469 PART V, LINE 4: THE SCHOOL TRANSFERRED THEIR PERMANENTLY RESTRICTED NET ASSETS TO THE RI FOUNDATION (THE FOUNDATION) ON JUNE 24, 2011. THE SCHOOLS PERMANENTLY RESTRICTED NET ASSETS ARE HELD BY THE FOUNDATION IN FIVE SEPARATE FUNDS, THE FACULTY FUND, THE SCHOLARSHIP FUND, THE LINCOLN SCHOLARS FUND, THE EDUCATION FUND, AND THE OPERATIONS/UNRESTRICTED FUND. PROSPECTIVE DONORS CAN MAKE CONTRIBUTIONS TO THESE FUNDS TO BENEFIT THE SCHOOL. ANNUAL DISTRIBUTIONS FROM THESE FUNDS WILL BE DETERMINED IN ACCORDANCE WITH THE POLICIES OF THE FOUNDATION AND WILL BE FROM INCOME GENERATED BY THE FUNDS. INCOME PAID TO THE SCHOOL FROM THE VARIOUS FUNDS WILL BE USED IN SUPPORT OF THE FUND'S PURPOSE. PAYMENTS OF INCOME AND/OR PRINCIPAL FROM ANY FUND MAY BE MADE ONLY UPON APPROVAL OF THE FOUNDATION?S BOARD OF DIRECTORS. PERMANENTLY RESTRICTED NET ASSETS ARE ENDOWED TO PROVIDE A PERMANENT SOURCE OF INCOME TO SUPPORT SPECIFIC PURPOSES. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2016. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,099,810. FUNDRAISING EXPENSES -127,716. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 127,716. CHANGES IN VALUE OF ANNUITIES INCLUDED IN FUNCTIONAL EXPENSES 1,237. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,099,810. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 USE OF NEWSPAPER AND PERIODICALS WITH OTHER AREA PREP SCHOOLS SPRING BENEFIT 204911 137295 67616 29595 2000 48047 BOOK FESTIVAL 43950 43950 48074 1 7865 7865 256726 137295 119431 29595 2000 96121 127716 -8285 1 FINANCIAL AID AND TUITION REMISSION FOR STUDENTS ATTENDING LINCOLN SCHOOL AND EMPLOYEE'S WHOSE CHILDREN ATTEND LINCOLN SCHOOL. 230 4580850 TUITION REMISSION 21 518960 PART I, LINE 2: FINANCIAL AID IS GIVEN TO STUDENTS BASED ON THE NEEDS OF THE FAMILIES. THIS PROCESS IS MONITORED BY THE HEAD OF SCHOOL, DIRECTOR OF ADMISSION AND FINANCIAL AID, AND INTERIM CFO. EVERY FAMILY REQUESTING FINANCIAL AID IS REQUIRED TO SUBMIT THE NECESSARY FINANCIAL DATA AND FINANCIAL AID FORMS TO BE REVIEWED BY THE HEAD OF SCHOOL, DIRECTOR OF ADMISSION AND FINANCIAL AID AND INTERIM CFO BEFORE ACCEPTANCE AND AWARD. ONCE FINANCIAL AID IS GRANTED, THE FAMILY IS BILLED FOR THE NET TUITION (GROSS TUITION LESS THE APPLIED FINANCIAL AID) AND THE AMOUNT OF FINANCIAL AID AWARDED IS APPLIED TO THE APPROPRIATE ACCOUNT. THE FAMILY THEN REMITS THE NET AMOUNT OF THE TUITION DUE. EMPLOYEES WHO MEET CERTAIN ELIGIBILITY REQUIREMENTS WILL ALSO RECEIVE A REDUCTION IN TUITION. ELIGIBILITY REQUIREMENTS INCLUDE YEARS OF SERVICE AND EMPLOYMENT PERCENTAGE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SUZANNE FOGARTY HEAD OF SCHOOL 296257 0 0 0 6000 0 22738 0 20249 0 345244 0 0 0 ELIZABETH MURZYCKI INTERIM CHIEF FINANCIAL OF 133510 0 0 0 0 0 11647 0 5763 0 150920 0 0 0 MOLLY GARRISON DIRECTOR OF ADVANCEMENT 135735 0 0 0 0 0 12941 0 7231 0 155907 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH A RESIDENCE ON THE UPPER TWO FLOORS OF A HOUSE THAT IS OWNED BY LINCOLN SCHOOL. THE BOTTOM FLOOR OF THE RESIDENCE IS USED BY THE HEAD TO ENTERTAIN CURRENT AND POTENTIAL STUDENTS AND THEIR FAMILIES, CONSTITUENTS OF THE SCHOOL, SUBSTANTIAL AND/OR POTENTIAL CONTRIBUTORS AND OTHERS WHO HAVE A DIRECT BUSINESS RELATIONSHIP WITH THE SCHOOL, AS WELL AS SCHOOL ACTIVITIES INCLUDING FACULTY AND/OR STAFF MEETINGS AND EVENTS. THE DUTIES REQUIRED BY THE HEAD OF SCHOOL INCLUDE BEING THE REPRESENTATIVE OF THE BOARD IN ITS RELATIONS WITH THE FACULTY, STAFF, STUDENTS AND THE PATRONS OF THE SCHOOL. THE HEAD OF SCHOOL WOULD NOT BE ABLE TO PERFORM THE REQUIRED DUTIES OF HER POSITION WITHOUT THE RESIDENCE THAT IS PROVIDED. THIS ARRANGEMENT IS PART OF AN AGREEMENT BETWEEN THE HEAD OF SCHOOL AND LINCOLN SCHOOL DISCOUNTED TUITION CHILDREN OF TRUSTEES 42500 FINANCIAL AID GRANT ASSISTANCE FINANCIAL AID X 12 399037 AVERAGE HI/LO PRICE X IN-KIND DONATIONS 70 27735 FAIR MARKET VALUE X GALA AUCTION 31 5402 FAIR MARKET VALUE 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART II, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE FORM 990 WAS REVIEWED IN DETAIL BY THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C A FORMAL CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES TO ENSURE ALL BUSINESS RELATIONSHIPS ARE IN THE BEST INTEREST OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE CONSISTING OF THE PRESIDENT, VICE PRESIDENTS, TREASURER AND SECRETARY MEET EACH YEAR PRIOR TO AUGUST 20, TO GIVE IT'S ANNUAL EVALUATION OF THE HEAD OF SCHOOL'S PERFORMANCE. THE HEAD OF SCHOOL THEN HAS AN OPPORTUNITY TO RESPOND AS NEEDED. THE HEAD OF SCHOOL MUST GIVE THE COMMITTEE A WRITTEN OVERVIEW OF HOW SHE HAS PROGRESSED IN MEETING THE GOALS OUTLINED BY THE EXECUTIVE COMMITTEE. THIS WRITTEN OVERVIEW IS GIVEN TO THE EXECUTIVE COMMITTEE AT LEAST TWENTY DAYS BEFORE THE SCHEDULED MEETING BETWEEN THE EXECUTIVE COMMITTEE AND THE HEAD OF SCHOOL. FAILURE TO PERFORM ACCORDING TO THE BOARD'S EXPECTATIONS MAY RESULT IN REASSIGNMENT OF DUTIES, OR OTHER APPROPRIATE MEASURES UP TO AND INCLUDING TERMINATION OF THE AGREEMENT BETWEEN LINCOLN SCHOOL AND THE HEAD OF SCHOOL. THE EXECUTIVE COMMITTEE MEETS WITH THE HEAD OF SCHOOL EACH YEAR AND MUTUALLY AGREEABLE GOALS ARE SET FOR THE HEAD OF SCHOOL FOR THE UPCOMING SCHOOL YEAR. THE EXECUTIVE COMMITTEE THEN MEETS WITH THE HEAD OF SCHOOL PERIODICALLY THROUGHOUT THE YEAR TO DISCUSS THE PROGRESS TO DATE ON THE GOALS SET. THE EXECUTIVE COMMITTEE WILL PROVIDE ANY FEEDBACK NECESSARY ON THE PERFORMANCE OF THE HEAD OF SCHOOL. THESE MEETINGS ARE INFORMAL. THE EXECUTIVE COMMITTEE WILL REVIEW THE HEAD OF SCHOOL'S SALARY EACH YEAR (WITH ANY ADJUSTMENTS RETROACTIVE TO JULY 1). UPON EACH REVIEW THE EXECUTIVE COMMITTEE RETAINS THE RIGHT TO ADJUST THE ANNUAL SALARY AND BENEFITS PAYABLE TO THE HEAD OF SCHOOL DURING THE TERM OF THEIR AGREEMENT. ANY SALARY INCREASE WILL DEPEND UPON THE HEAD OF SCHOOL'S PERFORMANCE AND THE FINANCIAL CONDITION OF THE SCHOOL. THE EXECUTIVE COMMITTEE USES NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, AN ORGANIZATION WHICH PROVIDES ACCREDITATION FOR PRIVATE SCHOOLS, FOR COMPARABILITY DATA IN DETERMINING THE HEAD OF SCHOOL'S COMPENSATION AND EXAMINING IT FOR REASONABLENESS. ALL OTHER FACULTY AND STAFF ARE REVIEWED ANNUALLY BY THE HEAD OF SCHOOL AND COMPENSATION IS INCREASED ACCORDINGLY NOT TO EXCEED GUIDELINES SET BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 IN ORDER FOR THE PUBLIC TO REVIEW THE GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS OF THIS ORGANIZATION, THEY ARE REQUIRED TO CALL AND REQUEST TO SEE THE DOCUMENTS. THE ORGANIZATION WILL THEN MAKE THE DOCUMENTS AVAILABLE WITHIN 24 HOURS OF THE REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITIES -1,237. FORM 990, PART XI, ITEM 2C THE FINANCE COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTING FIRM. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.