2011-08-30T14:26:35-05:00 2011-03-31 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2010-04-01 050252708 THE PRESERVATION SOCIETY OF NEWPORT COUNTY PRES 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 JAMES M BURRESS 4018471000 2011-08-26 1 DEBORAH A HOPKINS 4012742001 2010 2016-02-24 21:20:13Z TRUDY COXE 424 BELLEVUE AVENUE NEWPORT RI 02840 32179265 0 X WWW.NEWPORTMANSIONS.ORG X 1945 RI TO PROTECT, PRESERVE, AND PRESENT AN EXCEPTIONAL COLLECTION OF HOUSE MUSEUMS AND LANDSCAPES. 24 24 405 250 150635 -69356 4069435 3369015 9188343 9889764 516254 1453615 1472721 1709624 15246753 16422018 0 0 0 0 8163060 8790178 127272 158898 756847 7206096 7262806 15496428 16211882 -249675 210136 37113227 39726213 6212205 6196403 30901022 33529810 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 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 13726245 11436787 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. 13726245 1 1 0 0 0 1 1 0 1 1 1 0 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 0 1 0 0 0 0 1 62 0 1 405 1 1 1 0 0 0 0 1 1 0 0 0 0 X 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 FL GA MA NC TN X JAMES M BURRESS 4018471000 424 BELLEVUE AVENUE NEWPORT RI 02840 MR PIERRE DUPONT IRVING 20.00 X X 0 0 0 MR DONALD O ROSS 10.00 X X 0 0 0 MRS EDWIN G FISCHER 5.00 X X 0 0 0 MRS A LESLIE BALLARD 5.00 X X 0 0 0 MR DAVID P LEYS 5.00 X X 0 0 0 MRS GARY MOORE 5.00 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 MR PETER S DAMON 5.00 X X 0 0 0 MR DUNCAN A CHAPMAN 5.00 X 0 0 0 MRS ALEXANDER C CUSHING 5.00 X 0 0 0 MR RONALD LEE FLEMING 5.00 X 0 0 0 MR DAVID B FORD 5.00 X 0 0 0 MRS SARAH GEWIRZ 5.00 X 0 0 0 MR JOSEPH W HAMMER 5.00 X 0 0 0 MRS PETER D KIERNAN 5.00 X 0 0 0 MRS WILLIAM D LEATHERMAN 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 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 MR EUGENE B ROBERTS 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 MS LEILA JENKINS 5.00 X 0 0 0 MR MARK E WATSON 5.00 X 0 0 0 MR WILLIAM F WILSON 5.00 X 0 0 0 MR WILLIAM WOOD PRINCE 5.00 X 0 0 0 MS TRUDY COXE 60.00 X 217569 0 26612 MR JAMES M BURRESS 45.00 X 124293 0 21051 MR JOHN G RODMAN 45.00 X 115570 0 19112 MR IVAN COLON 45.00 X 108852 0 19032 MR PHILIP PELLETIER 45.00 X 109131 0 6417 MS CYNTHIA O'MALLEY 45.00 X 104050 0 11906 MR JOHN TSCHIRCH 45.00 X 100087 0 11640 879552 0 115770 7 0 1 0 CROCKER ARCHITECTUAL INC 129 SOUTHBRIDGE STREET NORTH OXFORD MA 01537 CONSTRUCTION SERVICES 460719 NEWPORT TENT COMPANY INC 27 HIGHPOINT AVENUE PORTSMOUTH RI 02878 TENT RENTAL 182404 FINE CATERING BY R MORIN INC 95 FRANK MOSSBERG DRIVE ATTLEBORO MA 02703 CATERING SERVICES 178782 GLORIOUS AFFAIRS LTD 926 AQUIDNECK AVENUE MIDDLETOWN RI 02842 CATERING SERVICES 169121 DONOVAN & SONS INC 613 AQUIDNECK AVENUE MIDDLETOWN RI 02842 PLUMBING SERVICES 146741 8 852092 24962 139830 2352131 154020 3369015 ADMISSIONS 900099 7555452 7555452 PROGRAM EVENTS 900099 2169523 2169523 ACADEMIC PROGRAMS 900099 108861 108861 REPRODUCTION INCOME 900099 55928 55928 9889764 498792 498792 15108426 14153603 954823 954823 954823 33820 24962 21854 11966 11966 3279448 1581790 1697658 1547023 150635 16422018 11436787 150635 1465581 400459 274721 85692 40046 6785182 5800060 706201 278921 285741 233252 38803 13686 659110 551973 83841 23296 659686 584917 51288 23481 52704 4530 48174 97124 97124 158898 158898 128637 128637 540722 365417 78723 96582 392125 392125 915062 880108 28739 6215 91016 77766 13250 792112 792112 91609 72809 17631 1169 20106 20106 70939 70939 431378 431378 791211 759944 24987 6280 EVENT SUPPLIES 692140 682066 10074 REPAIRS & MAINTENANCE 550030 550030 COLLECTION MAINT. & RES 393800 393800 SPECIAL PROJECTS 314065 263863 50202 EQUIPMENT & MAINTENANCE 291662 286448 5214 606364 406692 104649 95023 16211882 13726245 1728790 756847 232001 83341 682150 817577 79548 145463 163377 245284 853030 869273 206350 230731 11951381 5831512 5885271 6119869 22516466 28170647 6495034 2876490 167538 37113227 39726213 1174525 1184300 509344 460928 4487651 4521480 40685 29695 6212205 6196403 X 7787839 8245505 12500183 14561697 10613000 10722608 30901022 33529810 37113227 39726213 X 210136 2418652 X 0 1 1 X 0 X 3151907 5756628 4559632 4069535 3722515 21260217 10968293 11636185 10975057 12113275 13113284 58806094 14120200 17392813 15534689 16182810 16835799 80066311 150000 1436751 1525233 678396 1085798 4876178 0 150000 1436751 1525233 678396 1085798 4876178 75190133 450708 619760 638565 542109 498792 2749934 450708 619760 638565 542109 498792 2749934 200216 144624 133624 68003 55928 602395 14771124 18157197 16306878 16792922 17390519 83418640 0.90140 0.90860 0.03300 0.03260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 4 4 0 0 1 1 0.00 0 X X X X 0 28481140 301055 3740531 1827371 30695355 22163996 74232 7816899 1573987 28481140 33231744 25661 -9315782 1580441 197186 22163996 0.65070 0.34930 0 0 1126428 1126428 5695287 2308498 3386789 290409 158651 131758 4839257 3364363 1474894 6119869 CASH 147943 F PRIVATE EQUITY PARTNERSHIPS 2418854 F REMAINDER TRUST 309693 F 2876490 CAPITAL LEASE 29695 29695 16422018 16211882 210136 2418652 2418652 2628788 20669177 2418652 353500 2772152 17897025 128637 -1603644 -1475007 16422018 18040389 353500 1603644 1957144 16083245 128637 128637 16211882 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: 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. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 OPERATES IN A MANNER CONSISTENT WITH THEIR TAX-EXEMPT STATUS AT BOTH THE STATE OR FEDERAL LEVEL. 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 2008, 2009, AND 2010 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, 2011 THE SOCIETY PAID NO INCOME TAXES RELATED TO ITS TAXABLE SALES. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B -1,581,790. EXPENSES IN PART VIII, LINE 8B -21,854. PART XIII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES IN PART VIII, LINE 10B 1,581,790. EXPENSES IN PART VIII, LINE 8B 21,854. X X X X X X X 1 MARTS & LUNDY 1200 WALL ST WEST LYNDHURST NY 07071 CONSULTING FOR PLANNING OF COMPREHENSIVE CAMPAIGN 0 0 85246 -85246 85246 -85246 RI GOLF OUTING 58782 24962 33820 7125 9793 4936 58782 24962 33820 7125 9793 4936 21854 11966 X X X X X 0 0 0 1 0 0 0 0 0 MS TRUDY COXE 201069 0 0 0 16500 0 12957 0 13655 0 244181 0 0 0 PART I, LINE 5 PHILLIP PELLETIER AND IVAN COLON RECEIVE INCENTIVE COMPENSATION BASED ON BOOKED EVENTS. FOR THE YEAR ENDED MARCH 31, 2011, PHILLIP PELLETIER RECEIVED BASE COMPENSATION OF $97,000 AND INCENTIVE COMPENSATION OF APPROXIMATELY $12,000; IVAN COLON RECEIVED BASE COMPENSATION OF $80,000 AND INCENTIVE COMPENSATION OF APPROXIMATELY $29,000. X 8 0 N/A X EVENT SUPPLIES 30 154020 COST OR SELLING PRICE PER THE DONOR 1 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 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 FINANCE 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 FINANCE 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 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,418,652. 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