2017-02-14T13:40:16-06:00 2016-03-31 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2015-04-01 050252708 THE PRESERVATION SOCIETY OF NEWPORT COUNTY PRES 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 JAMES M BURRESS DIRECTOR OF FINANCE 4018471000 2017-02-13 1 CRAIG KLEIN P00734640 6177610600 2017-02-13 2015 2021-01-29 14:40:06Z TRUDY COXE 424 BELLEVUE AVENUE NEWPORT RI 02840 49769702 0 X WWW.NEWPORTMANSIONS.ORG X 1945 RI TO PROTECT, PRESERVE, AND PRESENT AN EXCEPTIONAL COLLECTION OF HOUSE MUSEUMS AND LANDSCAPES. 30 30 413 250 282417 -77797 4811942 7707486 11753946 13210135 3068103 1214001 1897522 1981593 21531513 24113215 0 0 0 0 10366259 10485955 0 0 704248 8809173 8743674 19175432 19229629 2356081 4883586 50259507 52564881 5027148 5478661 45232359 47086220 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 15998699 14870257 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. 15998699 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 134 0 1 413 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X JAMES M BURRESS 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 MR DONALD O ROSS CHAIRMAN 10.00 0.00 X X 0 0 0 MRS EDWIN G FISCHER VICE CHAIRMAN 5.00 0.00 X X 0 0 0 MR WILLIAM WOODPRINCE VICE PRES./ASST. SEC. 5.00 0.00 X X 0 0 0 MR DAVID LINDH VICE PRESIDENT 5.00 0.00 X X 0 0 0 MR ARCHBOLD VAN BEUREN VICE PRESIDENT 5.00 0.00 X X 0 0 0 MRS GUY F C VAN PELT VICE PRESIDENT 5.00 0.00 X X 0 0 0 MR DAVID B FORD VICE PRESIDENT 5.00 0.00 X X 0 0 0 MRS RICHARD I BURNHAM TREASURER 5.00 0.00 X X 0 0 0 MR PETER S DAMON ASST. TREASURER 5.00 0.00 X X 0 0 0 MR ARTHUR W MURPHY ESQ SECRETARY 5.00 0.00 X X 0 0 0 MRS CAROL BALLARD TRUSTEE 5.00 0.00 X 0 0 0 MR MORTIMER BERKOWITZ III TRUSTEE 5.00 0.00 X 0 0 0 MR DUNCAN A CHAPMAN TRUSTEE 5.00 0.00 X 0 0 0 MRS NANCY CUSHING TRUSTEE 5.00 0.00 X 0 0 0 MRS KIMBERLY W DARDEN TRUSTEE 5.00 0.00 X 0 0 0 MR WILLIAM EGAN TRUSTEE 5.00 0.00 X 0 0 0 MS CAROL J EPSTEIN TRUSTEE 5.00 0.00 X 0 0 0 MRS SARAH GEWIRZ TRUSTEE 5.00 0.00 X 0 0 0 MR WILLIAM F HATFIELD TRUSTEE 5.00 0.00 X 0 0 0 MRS RALPH H ISHAM TRUSTEE 5.00 0.00 X 0 0 0 MR EDWARD W KANE TRUSTEE 5.00 0.00 X 0 0 0 MS EADDO KIERNAN TRUSTEE 5.00 0.00 X 0 0 0 MRS WILLIAM D LEATHERMAN TRUSTEE 5.00 0.00 X 0 0 0 MR DAVID P LEYS TRUSTEE 5.00 0.00 X 0 0 0 MR WILLIAM F LUCEY TRUSTEE 5.00 0.00 X 0 0 0 MR RONALD K MACHTLEY TRUSTEE 5.00 0.00 X 0 0 0 MS ELIZABETH MCMILLEN TRUSTEE 5.00 0.00 X 0 0 0 MS ANGELA MOORE TRUSTEE 5.00 0.00 X 0 0 0 MR EUGENE B ROBERTS TRUSTEE 5.00 0.00 X 0 0 0 MS JANET L ROBINSON TRUSTEE 5.00 0.00 X 0 0 0 MRS JAMES H ROSS TRUSTEE 5.00 0.00 X 0 0 0 MRS JOCELYN SHERMAN TRUSTEE 5.00 0.00 X 0 0 0 MS MERRILL SHERMAN TRUSTEE 5.00 0.00 X 0 0 0 MR MARK E WATSON TRUSTEE 5.00 0.00 X 0 0 0 MR WILLIAM F WILSON TRUSTEE 5.00 0.00 X 0 0 0 MS TRUDY COXE CEO & EX. DIR. 60.00 0.00 X 256341 0 30932 MR JAMES M BURRESS DIR. OF FINANCE 45.00 0.00 X 163642 0 17585 MR JOHN G RODMAN DIR. MUS. EXPERIENCE 45.00 0.00 X 136378 0 18755 MS MAUREEN SHERIDAN DIR. DEVELOPMENT 45.00 0.00 X 131623 0 7753 MS LAURIE OSSMAN DIR. MUSEUM AFFAIRS 45.00 0.00 X 127644 0 20477 MS CYNTHIA O'MALLEY DIR. RETAIL SALES 45.00 0.00 X 125287 0 13813 MR PHILIP PELLETIER DIR. SPECIAL EVENTS 45.00 0.00 X 121501 0 7355 1062416 0 116670 9 0 1 0 CROCKER ARCHITECTURAL INC 129 SOUTHBRIDGE ROAD NORTH OXFORD MA 01537 CONSTRUCTION SERVICES 572569 DONOVAN & SONS INC 613 AQUIDNECK AVENUE MIDDLETOWN RI 02842 PLUMBING SERVICES 529295 FINE CATERING BY R MORIN INC 95 FRANK MOSSBERG DRIVE ATTLEBORO MA 02703 CATERING SERVICES 368125 LAWRENCE AIR SYSTEMS INC 153 GEORGE ST BARRINGTON RI 02806 HVAC 364348 NEWPORT TENT COMPANY INC 27 HIGHPOINT AVENUE PORTSMOUTH RI 02871 TENT RENTAL 261006 22 1015010 54643 125000 6512833 516809 7707486 ADMISSIONS 900099 9860160 9860160 PROGRAM EVENTS 900099 3231444 3231444 ACADEMIC PROGRAMS 900099 83946 83946 REPRODUCTION INCOME 900099 34585 34585 13210135 488307 -11172 499479 21600 0 21600 21600 21600 24680722 23955028 725694 725694 725694 49500 54643 43218 6282 6282 3611952 1658241 1953711 1660122 293589 24113215 14870257 282417 1253055 461012 461012 8058605 6980898 633368 444339 425400 310277 88779 26344 848380 740797 80575 27008 692558 572057 72487 48014 176763 176763 98460 98460 92152 92152 255329 176095 79234 566735 560644 6091 1439127 1385169 26852 27106 122986 27090 65879 30017 816667 816667 164502 134785 20648 9069 38849 38849 41101 41101 568131 568131 939311 934635 3676 1000 SPECIAL EVENTS 1116221 1088585 27636 REPAIRS & MAINTENANCE 700899 700899 EQUIPMENT & MAINTENANCE 369133 359618 9515 OUTSIDE SERVICES 286363 286363 0 0 950945 355989 503605 91351 19229629 15998699 2526682 704248 59375 187639 1051552 3263463 1593709 1785865 172843 172379 975900 1104375 309665 289458 17622915 8075455 7584322 9547460 31309617 29906511 6829482 5913065 373042 394666 50259507 52564881 1804596 1794628 811113 648372 2378845 3018799 32594 16862 5027148 5478661 X 13473612 15854481 15396834 14403858 16361913 16827881 45232359 47086220 50259507 52564881 4883586 -3029725 0 X X 0 1 X 1 0 X 3608081 5285892 6663280 4811942 7707486 28076681 13151977 14370217 14458523 15256392 16324360 73561469 16760058 19656109 21121803 20068334 24031846 101638150 718733 1630471 1753486 875447 2539556 7517693 0 718733 1630471 1753486 875447 2539556 7517693 94120457 621019 596919 614802 1311428 521079 3665247 621019 596919 614802 1311428 521079 3665247 17381077 20253028 21736605 21379762 24552925 105303397 0.89380 0.90730 0.03480 0.03740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 18525381 18525381 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 FORM 990, SCHEDULE C, PART II-A: THE ORGANIZATION DID NOT INCUR ANY LOBBYING EXPENDITURES DURING THE FISCAL YEAR ENDED MARCH 31, 2016. X X 9 40.00 6 0 0 1 1 10.00 230 X X X X 0 38396199 1087643 -1657683 1884158 35942001 37520705 424925 2019705 1569136 38396199 32508439 1725697 4898711 1612142 37520705 30147175 702054 2912926 1253716 32508439 30385661 156188 1147123 1541797 30147175 0.24020 0.46820 0.29160 0 0 910050 910050 9831403 2750671 7080732 150931 110641 40290 6730531 5214143 1516388 9547460 LIMITED PARTNERSHIPS 5626220 F BENEFICIAL INTEREST IN TRUST 286845 F 5913065 CAPITAL LEASE 16862 16862 X 23072437 -3029725 379640 -2650085 25722522 92152 -1701459 -1609307 24113215 21218576 379640 1701459 2081099 19137477 92152 92152 19229629 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 UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE EXPENDITURE IS MADE. 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 STATEMENT OF ACTIVITIES. COLLECTION ITEMS DONATED WERE APPROXIMATELY $0 AND $1,400 FOR THE YEARS ENDED MARCH 31, 2016 AND 2015, RESPECTIVELY. 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 GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE SOCIETY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD. THE SOCIETY HAS IDENTIFIED ITS TAX STATUS AND ITS DETERMINATION AS TO WHICH OF ITS INCOME IS RELATED VERSUS 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 TAX FILINGS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B -1,658,241. EXPENSES IN PART VIII, LINE 8B -43,218. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B 1,658,241. EXPENSES IN PART VIII, LINE 8B 43,218. GOLF OUTING 104143 54643 49500 13691 9502 18472 1553 104143 54643 49500 13691 9502 18472 1553 43218 6282 X X X X 0 0 0 1 0 0 0 0 0 MS TRUDY COXE CEO & EX. DIR. 238341 0 0 0 18000 0 15380 0 15552 0 287273 0 0 0 MR JAMES M BURRESS DIR. OF FINANCE 145642 0 0 0 18000 0 9836 0 7749 0 181227 0 0 0 MR JOHN G RODMAN DIR. MUS. EXPERIENCE 136378 0 0 0 0 0 4203 0 14552 0 155133 0 0 0 PART I, LINE 5: PHILLIP PELLETIER RECEIVED INCENTIVE COMPENSATION BASED ON BOOKED EVENTS. FOR CALENDAR YEAR 2015, PHILLIP PELLETIER RECEIVED BASE COMPENSATION OF APPRXIMATELY $116,400 AND INCENTIVE COMPENSATION OF APPROXIMATELY $800. IN ADDITION, CYNTHIA O'MALLEY RECEIVED INCENTIVE COMPENSATION BASED ON SALES. FOR 2016, HER BASE COMPENSATION WAS $118,600 AND INCENTIVE COMPENSATION WAS APPROXIMATELY $3,000. X 17 276240 FMV X EVENT SUPPLIES 198 240569 FMV 3 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 11 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 2015, 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 VI, LINE 4 AND FORM 990, PART XII, LINE 2C: THE BY-LAWS OF THE ORGANIZATION WERE AMENDED IN JULY 2016. THE AMENDMENT WAS MADE TO ADD AN AUDIT COMMITTEE AND TO MOVE THE OVERSIGHT PROCESS OF THE AUDIT OF THE FINANCIAL STATEMENTS FROM THE FINANCE COMMITTEE TO THE AUDIT COMMITTEE. 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