2015-02-16T08:18:03-06:00 2014-06-30 050487888 BATCHELOR FRECHETTE MCCRORY MICHAEL & CO PO BOX 156 PROVIDENCE RI 029010156 990 2013-07-01 050258900 LINCOLN SCHOOL LINC 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 PAULA MURRAY MCNAMARA PRESIDENT 4013319696 2015-02-05 1 EDWARD F MCCRORY CPA P01469593 4016216200 2013 2016-02-25 16:41:14Z PAULA MURRAY MCNAMARA 301 BUTLER AVENUE PROVIDENCE RI 029065545 12220842 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 23 170 53 0 0 1164873 1377900 10278007 10629935 0 0 115605 113409 11558485 12121244 3175221 3102424 0 0 6228660 6127788 0 0 734812 2863235 2944618 12267116 12174830 -708631 -53586 20951163 22156852 4503431 4370302 16447732 17786550 X 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. 0 0 7733222 3102424 9583045 INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE. 451091 937486 INFANT TODDLER CARE AND EXTENDED DAY CARE - DAYCARE SERVICES FOR INFANTS AND TODDLERS, AFTER SCHOOL CARE FOR OTHER STUDENTS. 37475 66890 ENRICHMENT PROGRAMS - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AFTER SCHOOL HOURS. 1542796 7860 ALL SCHOOL FACILITIES COSTS AND RENTAL INCOME FROM AN UNAFFILIATED EXEMPT ORGANIZATION. 347541 34654 DINING FACILITIES 1890337 42514 10112125 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 41 0 170 1 0 0 0 0 0 1 1 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 X MERELISE HITTE 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 DANA ALLCOCK TREASURER, BD OF TRUSTEES 2.00 X X 0 0 0 PAULA MURRAY MCNAMARA PRESIDENT, BD OF TRUSTEES 2.00 X X 0 0 0 STEPHEN COON TRUSTEE 2.00 X 0 0 0 SUSAN B HIBBITT TRUSTEE 2.00 X 0 0 0 PATRICIA IGOE TRUSTEE 2.00 X 0 0 0 BARBARA LEONARD BENNETT TRUSTEE 2.00 X 0 0 0 JAMES ENGLISH VICE PRES., BD OF TRUSTEES 2.00 X X 0 0 0 ROBERT RIDLEY TRUSTEE 2.00 X 0 0 0 ARLENE TATE SCHULER TRUSTEE 2.00 X 0 0 0 CURTIS SPALDING TRUSTEE 2.00 X 0 0 0 NANCY NAHIGIAN TAVITIAN SECRETARY, BD OF TRUSTEES 2.00 X X 0 0 0 MARTHA BOSS BENNETT VICE PRES., BD OF TRUSTEES 2.00 X X 0 0 0 JANE PALESTINE JAMIESON TRUSTEE 2.00 X 0 0 0 DIVAKAR MANDAPATI TRUSTEE 2.00 X 0 0 0 RUSSELL CAREY TRUSTEE 2.00 X 0 0 0 DAVID WHALEN TRUSTEE 2.00 X 0 0 0 STEFANO DUKCEVICH TRUSTEE 2.00 X 0 0 0 KIM BRIGGS BERRY TRUSTEE 2.00 X 0 0 0 HEATHER HAHN FOWLER TRUSTEE 2.00 X 0 0 0 MARIS PERLMAN CASTRO TRUSTEE 2.00 X 0 0 0 KILAH WALTERS TRUSTEE 2.00 X 0 0 0 LAUREN MOTOLA-DAVIS PARENT ASSOCIATION PRESIDENT 2.00 X 0 0 0 JANE MEISSNER SHARFSTEIN PRESIDENT ALUMNAE ASSOCIATION 2.00 X 0 0 0 ANN SULLIVAN HEAD OF SCHOOL 40.00 X 125010 0 14845 KYM GAISSL BUSINESS MANAGER 40.00 X 131716 0 17030 JULIA RUSSELL EELLS FORMER HEAD OF SCHOOL 40.00 X 111517 0 24310 368243 0 56185 3 1 0 0 SAGE DINING SERVICES 222 BOSLEY AVENUE SUITE B7 TOWSON MD 21204 DINING SERVICES 368818 1 123840 1254060 292360 1377900 TUITION & FEES 611710 9583045 9583045 INFANT/TODDLER CARE AND EXTENDED 611710 937486 937486 ENRICHMENT PROGRAMS 611710 66890 66890 DINING ROOM 611710 34654 34654 RENTAL TO UNAFFIL. EXEMPT ORGS AT 611710 7860 7860 10629935 111409 123840 99598 11811 11811 MISCELLANEOUS INCOME 611710 100028 100028 SERVICE CHARGES 611710 1570 1570 101598 12121244 10731533 0 11811 3102424 3102424 395500 33183 267874 94443 4644383 3936279 372694 335410 342341 280667 39316 22358 396102 332419 52429 11254 349462 274288 50885 24289 398591 347541 50645 405 37670 37670 32500 32500 58079 58079 48182 40117 8065 27840 313 27527 102097 37306 15998 48793 23632 23632 165567 91075 35870 38622 10031 5168 4863 629 629 144829 144829 792986 753336 19825 19825 88814 61541 27273 GENERAL ALL SCHOOL EXPE 267057 267057 BUILDING MAINTENANCE 213406 213406 GENERAL UPPER SCHOOL EX 96295 96295 PROFESSIONAL DEVELOPEME 64128 64128 372285 180121 108773 83391 12174830 10112125 1327893 734812 1889437 2382483 236099 107701 585 1364 6161 9462 20338067 10681605 10347609 9656462 8471272 9999380 20951163 22156852 842797 693094 923872 1102805 2290057 2156655 446705 417748 4503431 4370302 X 7373965 7100262 457626 656932 8616141 10029356 16447732 17786550 20951163 22156852 X -53586 1428801 -36397 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8462589 502855 1428802 336786 58080 9999380 7587957 347453 899532 317803 54550 8462589 7042128 765341 -12939 154711 51862 7587957 6628679 601079 1288076 1449753 25953 7042128 6131763 609742 664765 754335 23256 6628679 0.00000 1.00000 0.00000 1 0 331046 331046 15104015 7666790 7437225 2678672 1860854 817818 2224334 1153961 1070373 9656462 BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION 9999380 9999380 DUE TO STUDENTS 22397 CAPITAL LEASE OBLIGATIONS 366000 POSTRETIREMENT BENEFITS OTHER THAN PENSION 29351 417748 X 10604832 1428801 1428801 9176031 2945213 2945213 12121244 9266013 0 9266013 2908817 2908817 12174830 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: UNCERTAINTY IN INCOME TAXES: THE SCHOOL RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX BENEFITS IN ACCORDANCE WITH GAAP. UNDER THIS GUIDANCE, THE SCHOOL ASSESSES THE LIKELIHOOD, BASED ON 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. THE SCHOOL'S FEDERAL AND STATE INCOME TAX RETURNS ARE OPEN AND SUBJECT TO EXAMINATION FROM THE 2010 RETURN YEAR AND FORWARD. THAT LATEST DATE WILL BE SUBJECT TO CHANGE BASED ON GOING BACK TO THE THREE YEARS THAT ARE OPEN. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,503,197. DINING ROOM EXPENSE 347,541. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 58,079. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION 36,396. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,503,197. DINING ROOM EXPENSE 347,541. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 58,079. 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 167947 104596 63351 44115 BOOK FESTIVAL 59234 11799 47435 54252 1 8068 7445 623 1231 235249 123840 111409 99598 99598 11811 1 FINANCIAL AID AND TUITION REMISSION FOR STUDENTS ATTENDING LINCOLN SCHOOL AND EMPLOYEE'S WHOSE CHILDREN ATTEND LINCOLN SCHOOL. 219 3102424 VALUE OF TUITION REDUCTION APPROVED BY HEAD OF SCHOOL AND HEAD OF ADMISSIONS REDUCTION OF GROSS TUITION. PART I, LINE 2: FINANCIAL AID IS GIVEN TO STUDENTS BASED ON THE NEEDS OF THE STUDENT. THIS PROCESS IS MONITORED BY THE HEAD OF SCHOOL, DIRECTOR OF FINANCIAL AID AND DIRECTOR OF ADMISSIONS. EVERY STUDENT REQUESTING FINANCIAL AID IS REQUIRED TO SUBMIT THE NECESSARY FINANCIAL DATA AND FINANCIAL AID FORMS TO BE REVIEWED BY THE HEAD OF SCHOOL AND DIRECTOR OF FINANCIAL AID BEFORE ACCEPTANCE AND AWARD. ONCE FINANCIAL AID IS GRANTED, THE STUDENT IS BILLED FOR THE GROSS TUITION AND THE AMOUNT OF FINANCIAL AID AWARDED IS APPLIED TO THE APPROPRIATE ACCOUNT. THE STUDENT THEN REMITS THE NET AMOUNT OF THE TUITION DUE. EMPLOYEE'S WHOSE CHILDREN ATTEND LINCOLN SCHOOL ALSO RECEIVE A REDUCTION IN TUITION. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JULIA RUSSELL EELLS FORMER HEAD OF SCHOOL 108517 0 0 0 3000 0 8996 0 15314 0 135827 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 POTENTIAL STUDENTS AND THEIR FAMILIES, SUBSTANTIAL AND/OR POTENTIAL CONTRIBUTORS AND OTHERS WHO HAVE A DIRECT BUSINESS RELATIONSHIP WITH THE SCHOOL. 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. CHILDREN OF EMPLOYEE 28367 TUITION REDUCTION TO PROVIDE REDUCED TUITION TO CHILDREN OF EMPLOYEES X 2 255963 PUBLIC STOCK EXCHANGE X GALA AUCTION 81 36397 FAIR VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 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 PRESIDENT, 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 COMMITTE A WRITTEN OVERVIEW OF HOW SHE HAS PROGRESSED IN MEETING THE GOALS OUTLINED BY THE EXECUTIVE COMMITTEE. THIS WRITTEN OVERVIEW MUST BE 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 NO LATER THAN AUGUST 20 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. A FORMAL MEETING IS SET FOR THE END OF JANUARY EACH YEAR TO DISCUSS A MID TERM ASSESSMENT OF THE PROGRESS ON THE GOALS SET AT THE BEGINNING OF THE SCHOOL YEAR. THE EXECUTIVE COMMITTEE WILL REVIEW THE HEAD OF SCHOOL'S SALARY ON OR BEFORE AUGUST 20 OF 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 -36,397. 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.