Lincoln School FY2021 filing

Providence, RI · Public charity (501(c)(3)) · Since 1884

✓ Tax-deductible
Revenue
$18.2M
+6% vs prior year
Spent
$17.7M
To programs
79%
Net assets
$31.5M
By yearFY2020–FY2024
Revenue
$18.2M
FY2021▲ +6%
Revenue by fiscal year
FY2020$17.2M
FY2021$18.2M
FY2022$17.8M
FY2023$20.4M
FY2024$20.4M
FY2024$22.1M
Expenses
$17.7M
FY2021▼ -4%
Expenses by fiscal year
FY2020$18.5M
FY2021$17.7M
FY2022$18.6M
FY2023$19.4M
FY2024$21.1M
FY2024$22.1M
Net assets
$31.5M
FY2021▲ +19%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CLincoln School
EINHdr · item D05-0258900
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 1977
Year of formationHdr · item L1884
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CProvidence, RI
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.lincolnschool.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.18 Fundraising $0.03
Program services79%$14.0M
Management & general18%$3.2M
Fundraising3%$510K
Total functional expensesLn 25$17.7M

Financial health

Is it on solid ground?

Program efficiency
79%
of spending reaches programs
Operating runway
2.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$36.1M
FY2021▲ +13%
Total assets by fiscal year
FY2020$31.8M
FY2021$36.1M
FY2022$34.7M
FY2023$37.4M
FY2024$38.6M
FY2024$40.1M
Total liabilities
$4.5M
FY2021▼ -15%
Total liabilities by fiscal year
FY2020$5.3M
FY2021$4.5M
FY2022$4.9M
FY2023$5.2M
FY2024$5.1M
FY2024$5.0M
Revenue less expensesPt I · Ln 19$501K
Total assetsPt X · Ln 16$36.1M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 421

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$36.1M
Total liabilitiesLn 26$4.5M
Total net assetsLn 32$31.5M
Months of cash on handcomputed0.7

Statement of Revenue

Part VIII
Program service revenue$15.0M · 82%
Contributions & grants$3.1M · 17%
Other revenue$115K · 1%
Program service revenue82%$15.0M
Contributions & grants17%$3.1M
Other revenue1%$115K
Investment income$28K
— government grantsLn 1e$1.7M
Total revenueLn 12$18.2M

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.1M · Operating expenses (Pt IX) $17.7M · Less non-cash grants $123K · Cash operating expenses/yr $17.6M
2.1 months
Where the money goes
Program services
Program services $14.0M · Total expenses $17.7M
79%
Management & General
Management & general $3.2M · Total expenses $17.7M
18%
Fundraising
Fundraising $510K · Total expenses $17.7M
3%
Cost to raise $1
Fundraising expense (2-yr avg) $677K · Solicited contributions (2-yr avg) $1.8M
$0.37 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.1M · Total revenue $18.2M
17%
Government reliance
Government grants $1.7M · Total revenue $18.2M
9%
Earned-income share
Program service revenue $15.0M · Total revenue $18.2M
82%
Investment reliance
Investment income $28K · Total revenue $18.2M
+0.2%
Program self-sufficiency
Program service revenue $15.0M · Total expenses $17.7M
85%
Growth & trend
Revenue growth (YoY)
This year $18.2M · Prior year $17.2M
+6%
Net-asset trend (YoY)
End of year $31.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $18.2M · Expenses $17.7M
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $36.1M
—
Net-asset ratio
Net assets $31.5M · Total assets $36.1M
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $36.1M
6%
People & payroll
Highest Reported Total Compensation
Individual Sophie G Lau · Reported title HEAD OF SCHOOL, STARTING 7/1/20 · Highest reported compensation $203K · Total expenses $17.7M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $9.4M · Total expenses $17.7M
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%——
Overhead ratio 18%——
Fundraising cost ratio 17%——
Revenue growth 6%——
Investment management fee ratio 0.2%——
Legal fee ratio 0.1%——
Accounting fee ratio 0.2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School, Starting 7/1/20
$202,910Pt VII · Sec A
Chief Financial Officer
$159,302Pt VII · Sec A
Former Head of School, Left 6/30/20
$158,616Pt VII · Sec A
Director of Advancement
$141,011Pt VII · Sec A
Director of Upper School
$119,465Pt VII · Sec A
Director of Lower School
$115,832Pt VII · Sec A
Director of Marketing
$102,260Pt VII · Sec A
Director of Middle School
$101,852Pt 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.

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Governance & Policies

Part VI
  • 23Voting board membersPt VI · Ln 1a
  • 21Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

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

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $13.9M of program spending, described in the organization's own filed words · FY2020.
01

Instructional Services

Programs for students in nursery school through grade twelve.

$13.9Mprogram expense
02

Infant Toddler Care

Infant and toddler daycare services.

$31Kprogram expense
03

Enrichment and Extended Day

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

$2Kprogram expense

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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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $20.4M$21.1M+0.4% 990 PDF
FY2023 $20.4M$19.4M+14% 990 PDF
FY2022 $17.8M$18.6M-2% 990 PDF
FY2021 Viewing $18.2M$17.7M+6% 990 PDF
FY2020 $17.2M$18.5M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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