2019-05-06T07:19:55-05:00 2018-06-30 271728945 PKF O'CONNOR DAVIES LLP PO BOX 156 PROVIDENCE RI 029010156 990 2017-07-01 050258900 LINCOLN SCHOOL LINC 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 MARTHA BOSS BENNETT PRESIDENT 4013319696 2019-05-03 1 KERRI RAWCLIFFE P01398485 4016216200 98.191.59.165 2019-05-03 10:25:17 ED P 11CC275A7B2CAB0B7E23EA8FC0CEFED60715EBF6 11CC275A7B2CAB0B7E23EA8FC0CEFED60715EBF6 2017 2019-02-21 02:37:17Z MARTHA BOSS BENNETT 301 BUTLER AVENUE PROVIDENCE RI 029065545 15363512 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 23 180 100 0 0 11168636 1278247 12571769 13781186 14137 19397 443272 158990 24197814 15237820 4157119 4716140 0 0 7776244 8616521 0 0 874242 3206529 3414883 15139892 16747544 9057922 -1509724 30022235 30295876 2663737 3440334 27358498 26855542 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 13549535 4716140 12455009 INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE. 21864 1056171 INFANT TODDLER CARE - INFANT AND TODDLER DAYCARE SERVICES. 95244 233181 ENRICHMENT AND EXTENDED DAY - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AND EXTENDED DAY CARE AFTER SCHOOL HOURS. 486973 36825 486973 36825 14153616 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 26 0 180 1 0 0 0 0 0 1 1 0 0 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 ELIZABETH MURZYCKI 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 X 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 KIMBERLY BRIGGS BERRY TRUSTEE 2.00 X 0 0 0 PAUL BOGHOSIAN TRUSTEE 2.00 X 0 0 0 ALLISON GELFUSO BUTLER ALUMNAE ASSOCIATION PRESID 2.00 X 0 0 0 JIM CASEY TRUSTEE 2.00 X 0 0 0 MARIS PERLMAN CASTRO TRUSTEE 2.00 X 0 0 0 STEPHANIE CHAMBERLIN TRUSTEE 2.00 X 0 0 0 CINDY ELDER TRUSTEE 2.00 X 0 0 0 PRISCILLA GLUCKSMAN TRUSTEE 2.00 X 0 0 0 JUDITH GNYS TRUSTEE 2.00 X 0 0 0 SUSAN HIBBITT TRUSTEE 2.00 X 0 0 0 MIH-HO CHA NEENAN TRUSTEE 2.00 X 0 0 0 ARLENE TATE SCHULER TRUSTEE 2.00 X 0 0 0 JANE MEISSNER SHARFSTEIN TRUSTEE 2.00 X 0 0 0 NANCY BOGHOSSIAN STAPLES TRUSTEE 2.00 X 0 0 0 KILAH WALTERS-CLINTON TRUSTEE 2.00 X 0 0 0 SUZANNE FOGARTY HEAD OF SCHOOL 60.00 X 285497 0 43342 MERELISSE HITTE CHIEF OF OPERATIONS 50.00 X 157129 0 18257 MOLLY GARRISON DIRECTOR OF ADVANCEMENT 40.00 X 123696 0 19819 PETER BROOKS DIRECTOR OF UPPER SCHOOL 40.00 X 107000 0 9095 MAUREEN DEVLIN DIRECTOR OF LOWER SCHOOL 40.00 X 103514 0 15425 776836 0 105938 5 0 1 0 SHAWMUT DESIGN AND CONSTRUCTION 3 DAVOL SQUARE SUITE A275 PROVIDENCE RI 02903 GENERAL CONTRACTOR/CONSTRUCTION 5315784 FLIK COMPASS GROUP USA PO BOX 417632 BOSTON MA 02241 DINING SERVICES 437050 WORLD LEADERSHIP SCHOOL 4000 PINE BROOK ROAD ALEXANDRIA VA 22310 GLOBAL PROGRAMS PARTNER 110597 IMPERIAL BUILDING MAINTENANCE 849 POST ROAD WARWICK RI 02888 CLEANING SERVICES 102408 4 149682 1128565 499913 1278247 TUITION AND FEES 611710 12455009 12455009 INFANT TODDLER CARE 611710 1056171 1056171 ENRICHMENT PROGRAMS 611710 233181 233181 RENTAL TO UNAFFILIATED EXEMPT ORG 611710 36825 36825 13781186 19397 19397 109555 149682 125692 -16137 -16137 MISCELLANEOUS INCOME 611710 177249 177249 SWAG SALES 611710 304 304 CHANGES IN VALUE OF ANNUITIES 611710 -2426 -2426 175127 15237820 13956313 0 3260 4716140 4716140 547876 421865 82181 43830 6508525 5011564 976279 520682 505080 388912 75762 40406 506300 389851 75945 40504 548740 422530 82311 43899 463734 357075 69560 37099 16472 12683 2471 1318 33320 25656 4998 2666 15885 12231 2383 1271 39618 30506 5943 3169 362429 279070 54364 28995 182594 140597 27389 14608 131097 100945 19665 10487 14131 14131 977215 977215 137621 105968 20643 11010 GENERAL ALL SCHOOL EXPE 410652 410652 BUILDING MAINTENANCE 245608 245608 OTHER FUNDRAISING EXPEN 74298 74298 HEAD'S DISCRETIONARY FU 68372 68372 241837 104548 137289 16747544 14153616 1719686 874242 5168615 876572 1040100 456500 111030 205313 152166 225607 28130685 12705460 11131928 15425225 987062 1193575 11431334 11913084 30022235 30295876 1430981 960161 1208915 957335 1500000 23841 22838 2663737 3440334 X 10704714 12955552 4452251 1054813 12201533 12845177 27358498 26855542 30022235 30295876 X -1509724 1084709 -77941 X X 0 1 X 1 0 X 11323122 20750 1078155 471769 85279 11864979 9130314 2003311 1308837 1048311 71029 11323122 9775214 213577 -201184 595675 61618 9130314 9999380 37516 165679 361285 66076 9775214 8462589 502855 1428802 336786 58080 9999380 1.00000 1 0 331046 331046 22250024 8926872 13323152 3277758 2144745 1133013 2271857 1633843 638014 15425225 BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION 11864979 LONG TERM PREPAID EXPENSES 48105 11913084 POSTRETIREMENT BENEFITS OTHER THAN PENSION 22838 22838 X 11528448 1084709 1084709 10443739 4794081 4794081 15237820 12031404 0 12031404 4716140 4716140 16747544 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 FUNDS PURPOSE. PAYMENTS OF INCOME AND/OR PRINCIPAL FROM ANY FUND MAY BE MADE ONLY UPON APPROVAL OF THE FOUNDATIONS BOARD OF DIRECTORS. PERMANENTLY RESTRICTED NET ASSETS ARE ENDOWED TO PROVIDE A PERMANENT SOURCE OF INCOME TO SUPPORT SPECIFIC PURPOSES. PART X, LINE 2: INCOME TAXES: THE INTERNAL REVENUE SERVICE HAS DETERMINED THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION (OTHER THAN A PRIVATE FOUNDATION) UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS THE SCHOOL RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX BENEFITS IN ACCORDANCE WITH GAAP. UNDER THAT GUIDANCE, THE SCHOOL ASSESSES THE LIKELIHOOD, BASED UPON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZED TAX BENEFITS IS ADJUSTED WHEN NEW INFORMATION IS AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. MANAGEMENT ANNUALLY REVIEWS ITS TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,716,140. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION 77,941. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,716,140. 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 X X X X X X X SPRING BENEFIT 201884 134039 67845 59595 3 57353 15643 41710 66097 259237 149682 109555 125692 125692 -16137 1 FINANCIAL AID AND TUITION REMISSION FOR STUDENTS ATTENDING LINCOLN SCHOOL AND EMPLOYEE'S WHOSE CHILDREN ATTEND LINCOLN SCHOOL. 255 4716140 DETERMINED BY HOS, INTERIM CFO & DIR. OF ADMISSION & FINANCIAL AID REDUCTION OF GROSS TUITION. 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 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SUZANNE FOGARTY HEAD OF SCHOOL 285497 0 0 0 0 0 0 0 43342 0 328839 0 0 0 MERELISSE HITTE CHIEF OF OPERATIONS 157129 0 0 0 0 0 0 0 18257 0 175386 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 FINANCIAL AID GRANT CHILDREN OF TRUSTEE 23000 FINANCIAL AID GRANT ASSISTANCE FINANCIAL AID GRANT CHILDREN OF TRUSTEE 22000 FINANCIAL AID GRANT ASSISTANCE FINANCIAL AID GRANT CHILDREN OF TRUSTEE 35000 FINANCIAL AID GRANT ASSISTANCE FINANCIAL AID GRANT CHILDEN OF KEY EMPLOYEE 10080 FINANCIAL AID GRANT ASSISTANCE FINANCIAL AID GRANT CHILDEN OF KEY EMPLOYEE 44500 FINANCIAL AID GRANT ASSISTANCE X 10 419729 PUBLIC STOCK EXCHANGE X GALA AUCTION 159 68610 FAIR VALUE X IN-KIND DONATIONS 9 2243 FAIR VALUE 0 1 0 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: FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION -77,941. 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.