2011-02-02T08:59:30-06:00 2010-03-31 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2009-04-01 050252708 THE PRESERVATION SOCIETY OF NEWPORT COUNTY PRES 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 JAMES M BURRESS 4018471000 2011-01-31 1 Deborah A Hopkins 4012742001 2009 2016-02-24 21:20:13Z TRUDY COXE 424 BELLEVUE AVENUE NEWPORT RI 02840 27463780 0 X WWW.NEWPORTMANSIONS.ORG X 1945 RI TO PROTECT, PRESERVE, AND PRESENT AN EXCEPTIONAL COLLECTION OF HOUSE MUSEUMS AND LANDSCAPES. 24 24 376 250 109873 -51524 4559632 4069435 8948449 9188343 -5984697 516254 1445231 1472721 8968615 15246753 0 0 8643494 8163060 109544 127272 627040 6793983 7206096 15547021 15496428 -6578406 -249675 31003866 37113227 7055084 6212205 23948782 30901022 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 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 13246104 10545808 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. EACH YEAR OVER 750,000 VISITORS TAKE 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 TO EXPERIENCE THE TYPE OF GRAND ENTERTAINING FOR WHICH THEY WERE BUILT. EDUCATIONAL PROGRAMS ARE OFFERED YEAR-ROUND. 13246104 1 1 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 50 1 1 376 1 1 1 0 0 0 0 1 1 0 0 0 24 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 RI NH ME CT NY NJ PA CA MD VA OH MI IL X JAMES M BURRESS 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 MR PIERRE DUPONT IRVING 20.00 X X 0 0 0 MRS A LESLIE BALLARD 5.00 X X 0 0 0 MRS EDWIN G FISCHER 5.00 X X 0 0 0 MR DAVID P LEYS 5.00 X X 0 0 0 MR DONALD O ROSS 10.00 X X 0 0 0 MRS A T STAUTBERG JR 5.00 X X 0 0 0 ARTHUR W MURPHY ESQ 5.00 X X 0 0 0 MRS RICHARD I BURNHAM 5.00 X X 0 0 0 MRS ALEXANDER CUSHING 5.00 X 0 0 0 MR PETER S DAMON 5.00 X 0 0 0 MR EUGENE B ROBERTS 5.00 X 0 0 0 MR RONALD LEE FLEMING 5.00 X 0 0 0 MRS SARAH GEWIRZ 5.00 X 0 0 0 MR DAVID B FORD 5.00 X 0 0 0 MRS CHRIS R GREENMAN 5.00 X 0 0 0 MR JOSEPH W HAMMER 5.00 X 0 0 0 MS LEILA JENKINS 5.00 X 0 0 0 MRS PETER D KIERNAN 5.00 X 0 0 0 MR DAVID E P LINDH 5.00 X 0 0 0 MR RICHARD C LOEBS JR 5.00 X 0 0 0 MRS GARY MOORE 5.00 X 0 0 0 MR JOHN D MUGGERIDGE 5.00 X 0 0 0 FRANK N RAY ESQ 5.00 X 0 0 0 MR ANDREW REILLY 5.00 X 0 0 0 MRS ROCKWELL STENSRUD 5.00 X 0 0 0 MRS GUY FC VAN PELT 5.00 X 0 0 0 MR WILLIAM F WILSON 5.00 X 0 0 0 TRUDY COXE 60.00 X 210030 0 21315 JAMES M BURRESS 45.00 X 120616 0 18718 MR JOHN R RODMAN 45.00 X 112192 0 17515 MR PHILIP PELLETIER 45.00 X 102864 0 6100 MS CYNTHIA O'MALLEY 45.00 X 101408 0 11009 647110 0 74657 5 0 1 0 FINE CATERING BY RUSSELL MORIN 95 FRANK MOSSBERG DRIVE ATTLEBORO MA 02703 CATERING SERVICES 213944 LODI WELDING CO INC 133 WILLOW GROVE STREET HACKETTSTOWN NJ 07840 CONSTRUCTION SERVICES 181958 CROCKER ARCHITECTUAL INC 129 SOUTHBRIDGE STREET NORTH OXFORD MA 01537 CONSTRUCTION SERVICES 142868 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CAPITAL CAMPAIGN COUNSEL 119447 CLARK'S SECURITY INC PO BOX 172 FALL RIVER MA 02722 SECURITY 117858 5 25092 4044343 692703 4069435 ADMISSIONS 900099 7103363 7103363 PROGRAM EVENTS 900099 1908850 1908850 ACADEMIC PROGRAMS 900099 108127 108127 REPRODUCTION INCOME 900099 68003 68003 9188343 542737 542737 10648218 10674701 -26483 -26483 -26483 22740 25092 17357 5383 5383 2992935 1524969 1467966 1357465 110501 UBIT FROM PARTNERSHIP 900099 -628 -628 -628 15246753 10545808 109873 521637 383499 262726 82423 38350 6345073 5417375 671634 256064 137811 114152 16678 6981 615558 516521 77012 22025 681119 609979 48502 22638 34697 6851 27846 97124 97124 127272 127272 121446 121446 433623 309170 87461 36992 652566 652566 873581 850271 18608 4702 88868 76488 12380 694643 694643 76816 61970 11158 3688 13389 13389 54047 54047 385751 385751 769696 729611 28372 11713 EVENT SUPPLIES 750169 739768 10401 REPAIRS & MAINTENANCE 531517 531517 Collection maint. & res 427604 427604 SPECIAL PROJECTS 417246 356005 60338 903 EQUIPMENT & MAINTENANCE 270527 262944 7583 512786 316680 112774 83332 15496428 13246104 1623284 627040 111300 232001 878760 682150 97049 79548 199428 163377 686394 853030 332001 206350 11285405 5400134 5696302 5885271 17250992 22516466 5001640 6495034 750000 0 31003866 37113227 3061639 1174525 492808 509344 3449880 4487651 50757 40685 7055084 6212205 X 5052234 7787839 8283878 12500183 10612670 10613000 23948782 30901022 31003866 37113227 X 0 1 1 X 0 X 3846459 3151907 5756628 4559632 4069535 21384161 10736268 10968293 11636185 10975057 12113275 56429078 14582727 14120200 17392813 15534689 16182810 77813239 214406 132558 105973 452937 701857 150000 1014702 1615175 56794 3538528 701857 150000 1229108 1747733 162767 3991465 73821774 394898 450708 619760 638565 542109 2646040 394898 450708 619760 638565 542109 2646040 239268 200216 144624 133624 68003 785735 15216893 14771124 18157197 16306878 16792922 81245014 0.90860 0.95500 0.03260 0.03270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 4 4 0 0 1 1 10.00 0 0 X X X X 0 22163996 74232 7816899 1573987 28481140 33231744 25661 -9315782 1580441 197186 22163996 0.62740 0.37260 0 0 1126428 1126428 5615664 2137862 3477802 265155 153809 111346 4278158 3108463 1169695 5885271 Cash 2099212 F OTHER FIXED INCOME 2565196 F PRIVATE EQUITY PARTNERSHIPS 1830626 F 6495034 CAPITAL LEASE 40685 40685 15246753 15496428 -249675 7428678 -226763 7201915 6952240 24096311 7428678 7428678 16667633 121446 -1542326 -1420880 15246753 16917308 1542326 1542326 15374982 121446 121446 15496428 Part II, Line 9: Description of How Organization Reports Conservation Easements: THE PRESERVATION SOCIETY OF NEWPORT COUNTY HOLDS CONSERVATION EASEMENTS ON FOUR PROPERTIES, WHICH WERE PRIMARILY FORMERLY OWNED BY THE SOCIETY. THE SOCIETY DOES NOT 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 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. DONATIONS OF HISTORICAL COLLECTION ITEMS ARE RECORDED IN THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS AT THEIR FAIR OR APPRAISED VALUES ON THE DATE OF DONATION AND ARE EXPENSED IN THE YEAR RECEIVED IN ACCORDANCE WITH THE SOCIETY'S NON-CAPITALIZATION POLICY. Part III, Line 4: THE COLLECTIONS OF THE PRESERVATION SOCIETY OF NEWPORT COUNTY'S HOUSE MUSEUMS, COMPRISING OVER 50,000 OBJECTS, REFLECT 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: Description of Intended Use of Endowment Funds: 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: Description of Uncertain Tax Positions Under FIN 48: The Society is exempt from income taxes as a public charity under Section 501(c)(3) of the Internal Revenue Code. Management believes that the Society has done nothing during the past year that would jeopardize its tax-exempt status at either the state or federal level. Authoritative guidance requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Society's tax returns to determine whether the tax positions are "more likely than not" to be sustained by the applicable tax authority. Tax positions not deemed to meet the "more likely than not" threshold would be recorded as a tax benefit or expense in the current year. The Society annually files IRS Form 990 - Return of Organization Exempt From Income Tax reporting various information that the IRS uses to monitor the activities of tax-exempt entities. The Society also annually files IRS Form 990-T - Exempt Organization's Business Income Tax Return for all of its taxable transactions. These tax returns are subject to review by the taxing authorities. The federal income tax returns for 2007, 2008, and 2009 are subject to examination by the IRS, generally for three years after they were filed. The Society currently has no tax examinations in progress. For the Society's tax year ending March 31, 2010 the Society paid no income taxes related to its taxable sales. Part XI, Line 8 - Other Adjustments: DONATED COLLECTION ITEMS NOT CAPITALIZED: -226763. Part XII, Line 4b - Other Adjustments: EXPENSES IN PART VIII, LINE 10B: -1524969. EXPENSES IN PART VIII, LINE 8B: -17357. Part XIII, Line 2d - Other Adjustments: EXPENSES IN PART VIII, LINE 10B: 1524969. EXPENSES IN PART VIII, LINE 8B: 17357. X X X X X X X 1 MARTS & LUNDY CAPITAL CAMPAIGN CONSULTING 0 0 127272 -127272 127272 -127272 RI GOLF OUTING 47832 25092 22740 7684 6277 3396 47832 25092 22740 7684 6277 3396 17357 5383 X X X X X 0 0 0 1 0 0 0 0 0 TRUDY COXE 210030 0 0 0 0 0 9932 0 11383 0 231345 0 0 0 Part I, Line 5 PHILLIP PELLETIER RECEIVES INCENTIVE COMPENSATION BASED ON BOOKED EVENTS. IN 2009, PHILLIP PELLETIER RECEIVED BASE COMPENSATION OF $95,000 AND INCENTIVE COMPENSATION OF $7,864. X 32 226763 APPRAISAL X EVENT SUPPLIES 13 185400 COST OR SELLING PRICE PER THE DONOR X ADVERTISEMENT AND PROMOTIONAL 8 269340 COST OR SELLING PRICE PER THE DONOR X TRAVEL AND LODGING 4 11200 COST OR SELLING PRICE PER THE DONOR 0 1 0 Method for Determining Number of Contributors: 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 MULITPLE 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 TREASURER. 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, THE TREASURER AND THE CHAIRMAN OF THE BOARD. 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 POTENTIAL 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 15a ANNUALLY THE COMPENSATION COMMITTEE OF THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE CEO. THE REVIEW ALSO ESTABLISHES THE CEO'S COMPENSATION FOR THE FOLLOWING YEAR. THIS PROCESS INVOLVES THE EVALUATION OF THE CEO, AND A REVIEW OF COMPENSATION OF COMPARABLE POSITIONS OBTAINED FROM THE FORMS 990 OF SIMILAR ORGANIZATIONS. THE COMMITTEE'S DELIBERATION AND DECISION ARE NOTED IN THE MINUTES OF THE MEETING. THE PAY FOR ALL OTHER EMPLOYEES, INCLUDING THE DIRECTOR OF FINANCE, KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES, IS DETERMINED 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. PSNC HOLDINGS INC 424 BELLEVUE AVE NEWPORT RI 02840 050479546 HOLDS TITLE TO WAREHOUSE HOUSING PSNC INVENTORY RI 0 181144 THE PRESERVATION SOCIETY OF NEWPORT COUNTY