Lincoln School FY2020 filing

Tax-deductible

Providence, RI501(c)(3)Since 1884EIN 05-0258900

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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.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$785K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $226K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$785K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
23
named funders · $2.8M
Looks good: 23 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.3M
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.2M
Spent
$18.5M
To programs
81%
Net assets
$26.5M
By yearFY2020–FY2024
Revenue
$17.2M
FY2020
Revenue by fiscal year
FY2020$17.2M
FY2021$18.2M
FY2022$17.8M
FY2023$20.4M
FY2024$20.4M
FY2024$22.1M
Expenses
$18.5M
FY2020
Expenses by fiscal year
FY2020$18.5M
FY2021$17.7M
FY2022$18.6M
FY2023$19.4M
FY2024$21.1M
FY2024$22.1M
Net assets
$26.5M
FY2020
Net assets by fiscal year
FY2020$26.5M
FY2021$31.5M
FY2022$29.8M
FY2023$32.1M
FY2024$33.5M
FY2024$35.1M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1977.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $15.0M Management & general 14% · $2.6M Fundraising 5% · $843K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

29 people listed on the 990; $785K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Head of School
$313,422Pt VII · Sec A
Director of Advancement
$138,075Pt VII · Sec A
Director of Upper School
$117,233Pt VII · Sec A
Director of Lower School
$113,746Pt VII · Sec A
Interim Chief Financial of
$102,165Pt VII · Sec A
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Sophie G Lau$324,917$325,715$300,176$320,496$202,910—
Suzanne Fogarty————$158,616$313,422
Brenda L Konopelko$176,945$172,639$166,379$160,680$159,302—
Erica Busillo$176,400—————
Molly Garrison——$155,770$145,969$141,011$138,075
Susan a Farnum$150,344$149,725$117,010———
Deborah Elwell Hanney$130,725$131,479$130,775$126,408$101,852—
Kimberly a Lough$116,665$127,012$111,312$103,750——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Lincoln School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates girls from nursery through twelfth grade, fostering academic excellence and ethical development.

Provided by the organization

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3 programs · $14.8M · in their own filed words · FY2019
01

Instructional Services

Programs for students in nursery school through grade twelve.

$14.7Mprogram expense
02

Infant Toddler Care

Infant and toddler daycare services.

$21Kprogram expense
03

Enrichment and Extended Day

Programs designed for students to participate in extracurricular activities and extended day care after school hours.

$19Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 23 funders →
Grants paid · 7 grants · $29.7M · 2019–2024
Unitemized GrantFY2024$4,911,528
Unitemized GrantFY2023$5,062,501
Unitemized GrantFY2022$4,785,858
Unitemized GrantFY2021$4,706,676
Unitemized GrantFY2020$4,805,920
Unitemized GrantFY2019$4,823,730
Unitemized GrantFY2019$593,300

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$17.2M
Ln 12
Fees for servicesLn 2g$14.9M
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$20K
Money outPt IX
$18.5M
Ln 25
Programscol B$15.0M
Managementcol C$2.6M
Fundraisingcol D$843K
Owns and owesPt X
$26.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$31.8M
LiabilitiesLn 26$5.3M
PeoplePt VI, VII
29
listed · VII A
PaidVII A5
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Fundraising eventsLn 1c$32K
Fees for servicesLn 2g$14.9M
Investment incomeLn 3$20K
Other incomeLn 4–11$10K
Total revenueLn 12$17.2M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$16.2M
Other assetsLn 15$11.7M
Total assetsLn 16$31.8M
LiabilitiesLn 26$5.3M
Net assetsLn 32$26.5M
OperationsPt I, VI
EmployeesI 5233
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.2M$1.2M
InvestmentsLn 11–13$1.3M$1.5M
Land, buildings, equipmentLn 10c$15.0M$16.2M
Total assetsLn 16$31.1M$31.8M
LiabilitiesLn 26$3.5M$5.3M
Net assetsLn 32$27.6M$26.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$5.5M$5.5M
Pay of current officers, directors and key staffLn 5$379K$283K$75K$22K
Other salaries and wagesLn 7$7.3M$5.4M$1.4M$421K
Pension plan contributionsLn 8$539K$402K$106K$31K
Other employee benefitsLn 9$509K$380K$100K$29K
Payroll taxesLn 10$663K$494K$130K$38K
Management feesLn 11a$514K$484K$17K$13K
Legal feesLn 11b$44K$2K$43K
Accounting feesLn 11c$35K$35K
Investment management feesLn 11f$75K$75K
Other fees for servicesLn 11g$22K$16K$4K$1K
Advertising and promotionLn 12$31K$3K$28K
Office expensesLn 13$295K$168K$117K$9K
OccupancyLn 16$179K$160K$16K$3K
TravelLn 17$85K$56K$18K$11K
InterestLn 20$27K$24K$2K$467
Depreciation, depletion and amortizationLn 22$1.1M$911K$138K$18K
InsuranceLn 23$144K$129K$13K$2K
Other expenses (24a–d)Ln 24$890K$511K$164K$215K
All other expensesLn 24e$210K$114K$67K$29K
Total functional expensesLn 25$18.5M$15.0M$2.6M$843K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $20.4M$21.1M−$606K$33.5M 990 PDF
FY2023 $20.4M$19.4M$1.0M$32.1M 990 PDF
FY2022 $17.8M$18.6M−$792K$29.8M 990 PDF
FY2021 $18.2M$17.7M$501K$31.5M 990 PDF
FY2020 Viewing $17.2M$18.5M−$1.2M$26.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $17,234,425 across 8 lines filed
VIII-1c Fundraising events$32,300
VIII-1f All other contributions, gifts and grants$2,232,320
VIII-1h Total contributions, gifts and grants$2,264,620
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,939,950$14,939,950
VIII-3 Investment incomeExcluded from tax $20,346$20,346
VIII-8 Net income from fundraising eventsExcluded from tax −$9,338−$9,338
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $18,847$18,847
VIII-12 Total revenueRelated to mission $14,939,950 · Unrelated business $0 · Excluded from tax $29,855$17,234,425
Part IX · Statement of functional expenses $18,473,163 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $5,459,015$5,459,015
IX-5 Pay of current officers, directors and key staffPrograms $282,962 · Management $74,608 · Fundraising $21,892$379,462
IX-7 Other salaries and wagesPrograms $5,447,096 · Management $1,436,476 · Fundraising $421,495$7,305,067
IX-8 Pension plan contributionsPrograms $401,875 · Management $105,962 · Fundraising $31,092$538,929
IX-9 Other employee benefitsPrograms $379,661 · Management $100,105 · Fundraising $29,373$509,139
IX-10 Payroll taxesPrograms $494,435 · Management $130,367 · Fundraising $38,253$663,055
IX-11a Management feesPrograms $484,463 · Management $17,052 · Fundraising $12,755$514,270
IX-11b Legal feesPrograms $1,530 · Management $42,623$44,153
IX-11c Accounting feesManagement $35,285$35,285
IX-11f Investment management feesManagement $75,399$75,399
IX-11g Other fees for servicesPrograms $16,325 · Management $4,365 · Fundraising $1,277$21,967
IX-12 Advertising and promotionPrograms $3,283 · Management $27,921$31,204
IX-13 Office expensesPrograms $168,008 · Management $117,174 · Fundraising $9,352$294,534
IX-16 OccupancyPrograms $159,779 · Management $15,757 · Fundraising $3,074$178,610
IX-17 TravelPrograms $55,942 · Management $18,196 · Fundraising $11,165$85,303
IX-20 InterestPrograms $24,261 · Management $2,393 · Fundraising $467$27,121
IX-22 Depreciation, depletion and amortizationPrograms $911,239 · Management $137,971 · Fundraising $17,526$1,066,736
IX-23 InsurancePrograms $129,047 · Management $12,726 · Fundraising $2,482$144,255
IX-24 Other expenses (24a–d)Programs $511,188 · Management $164,120 · Fundraising $214,618$889,926
IX-24e All other expensesPrograms $114,399 · Management $66,706 · Fundraising $28,628$209,733
IX-25 Total functional expensesPrograms $15,044,508 · Management $2,585,206 · Fundraising $843,449$18,473,163
Part X · Balance sheet $31,796,346 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,195,356$1,248,480
X-3 Pledges and grants receivableStart of year $1,493,000$943,951
X-4 Accounts receivableStart of year $88,102$81,154
X-9 Prepaid expenses and deferred chargesStart of year $131,959$60,857
X-10c Land, buildings and equipment, netStart of year $14,952,745$16,179,928
X-11 Publicly traded securitiesStart of year $1,330,693$1,536,719
X-15 Other assetsStart of year $11,863,566$11,745,257
X-16 Total assetsStart of year $31,089,304$31,796,346
X-17 Accounts payable and accrued expensesStart of year $1,376,795$1,552,944
X-19 Deferred revenueStart of year $945,026$821,340
X-25 Other liabilitiesStart of year $55,571$17,718
X-26 Total liabilitiesStart of year $3,510,193$5,284,698
X-27 Net assets without donor restrictionsStart of year $12,484,716$10,360,537
X-28 Net assets with donor restrictionsStart of year $15,094,395$16,151,111
X-32 Total net assets or fund balancesStart of year $27,579,111$26,511,648
X-33 Total liabilities and net assetsStart of year $31,089,304$31,796,346
Part XI · Reconciliation of net assets $26,511,648 net assets at year end
XI-1 Total revenue$17,234,425
XI-2 Total expenses$18,473,163
XI-3 Revenue less expenses−$1,238,738
XI-4 Net assets at start of year$27,579,111
XI-5 Net unrealized gains (losses) on investments$136,848
XI-9 Other changes in net assets$34,427
XI-10 Net assets at end of year$26,511,648

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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