Lincoln School: FY2023 Nonprofit Profile & Form 990 (EIN 05-0258900)

Revenue by fiscal year
FY2020	$17.2M
FY2021	$18.2M
FY2022	$17.8M
FY2023	$20.4M
FY2024	$20.4M
FY2024	$22.1M

Expenses by fiscal year
FY2020	$18.5M
FY2021	$17.7M
FY2022	$18.6M
FY2023	$19.4M
FY2024	$21.1M
FY2024	$22.1M

Net assets by fiscal year
FY2020	$26.5M
FY2021	$31.5M
FY2022	$29.8M
FY2023	$32.1M
FY2024	$33.5M
FY2024	$35.1M

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

87 cents of each dollar spent went to programs.

87%

Program services 87% · $16.8M Management & general 10% · $2.0M Fundraising 3% · $504K

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

31 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Sophie G Lau

Head of School

$300,176Pt VII · Sec A

Brenda L Konopelko

Chief Financial Officer

$166,379Pt VII · Sec A

Molly Garrison

Director of Advancement

$155,770Pt VII · Sec A

Deborah Elwell Hanney

Director of Middle School

$130,775Pt VII · Sec A

Peter Brooks

Director of Upper School

$121,987Pt VII · Sec A

Susan a Farnum

Director of Admissions

$117,010Pt VII · Sec A

Kimberly a Lough

Director of Little School

$111,312Pt VII · Sec A

Siraj Amanullah

Trustee

$0Pt VII · Sec A

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

Name	FY2024	FY2024	FY2023	FY2022	FY2021	FY2020
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 · $16.7M · in their own filed words · FY2022

01

Instructional Services

Programs for students in nursery school through grade twelve.

$16.6Mprogram expense

02

Infant Toddler Care

Infant and toddler daycare services.

$101Kprogram expense

03

Enrichment and Extended Day

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

$6Kprogram 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

Donor Advised Charitable Giving INCFY2024$1.0M

Fidelity Investments Charitable Gift FundFY2024$899K

The Rhode Island Community FoundationFY2024$729K

United Way of Rhode Island INCFY2024$27K

Vanguard Charitable Endowment ProgramFY2024$20K

Margaret Walker Purinton FoundationFY2024$18K

Dorothy J Thornley FoundationFY2024$10K

Foundation Source 002077 INCFY2024$10K

Total grants receivedfrom 23 funders$2.8M

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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$20.4M

Ln 12

Fees for servicesLn 2g$16.1M

Gifts and grantsLn 1h$3.9M

Other incomeLn 4–11$189K

Money outPt IX

$19.4M

Ln 25

Programscol B$16.8M

Managementcol C$2.0M

Fundraisingcol D$504K

Owns and owesPt X

$32.1M

net assets · Ln 32

Cash and savingsLn 1–2$4.2M

Total assetsLn 16$37.4M

LiabilitiesLn 26$5.2M

PeoplePt VI, VII

31

listed · VII A

PaidVII A7

Voting boardVI 1a24

IndependentVI 1b21

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.9M

Noncash giftsLn 1g$37K

Fees for servicesLn 2g$16.1M

Investment incomeLn 3$106K

Other incomeLn 4–11$189K

Total revenueLn 12$20.4M

Assets in detailPt X, end of year

CashLn 1$32K

SavingsLn 2$4.2M

Cash and savings togetherLn 1–2$4.2M

InvestmentsLn 11–13$2.2M

Land, buildings, equipmentLn 10c$15.8M

Other assetsLn 15$14.9M

Total assetsLn 16$37.4M

LiabilitiesLn 26$5.2M

Net assetsLn 32$32.1M

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$1.7M	$4.2M
InvestmentsLn 11–13	$2.2M	$2.2M
Land, buildings, equipmentLn 10c	$16.4M	$15.8M
Total assetsLn 16	$34.7M	$37.4M
LiabilitiesLn 26	$4.9M	$5.2M
Net assetsLn 32	$29.8M	$32.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$4.8M	$4.8M
Pay of current officers, directors and key staffLn 5	$542K	$482K	$49K	$11K
Pay of disqualified personsLn 6	$8K	$6K	$1K	$291
Other salaries and wagesLn 7	$7.1M	$5.8M	$1.0M	$276K
Pension plan contributionsLn 8	$272K	$223K	$39K	$11K
Other employee benefitsLn 9	$1.2M	$1.0M	$83K	$22K
Payroll taxesLn 10	$656K	$544K	$88K	$24K
Legal feesLn 11b	$12K		$12K
Accounting feesLn 11c	$17K		$17K
Investment management feesLn 11f	$82K		$82K
Other fees for servicesLn 11g	$376K	$136K	$186K	$54K
Advertising and promotionLn 12	$53K	$850	$52K
Office expensesLn 13	$445K	$257K	$132K	$56K
Information technologyLn 14	$176K	$176K
OccupancyLn 16	$223K	$204K	$16K	$2K
TravelLn 17	$119K	$113K	$2K	$4K
InterestLn 20	$136K	$136K
Depreciation, depletion and amortizationLn 22	$1.2M	$1.1M	$85K	$12K
InsuranceLn 23	$94K	$84K	$9K	$1K
Other expenses (24a–d)Ln 24	$1.7M	$1.7M	$30K	$4K
All other expensesLn 24e	$162K	$37K	$99K	$27K
Total functional expensesLn 25	$19.4M	$16.8M	$2.0M	$504K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$20.4M	$21.1M	−$606K	$33.5M	990 PDF
FY2023 Viewing	$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	$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 FY2023 990 (6 parts)

Part I · Summary $20,357,356 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,842,711$3,949,423

I-9 Program service revenuePrior year $15,824,533$16,113,407

I-10 Investment incomePrior year $28,155$105,692

I-11 Other revenuePrior year $136,920$188,834

I-12 Total revenuePrior year $17,832,319$20,357,356

I-13 Grants and similar amounts paidPrior year $4,706,676$4,785,858

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $9,639,432$9,775,732

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $4,277,863$4,790,005

I-18 Total expensesPrior year $18,623,971$19,351,595

I-19 Revenue less expensesPrior year −$791,652$1,005,761

Part VI · Governance 21 of 24 board members independent, no flags

VI-1a Voting members of the governing body24

VI-1b Independent voting members21

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $20,357,356 across 9 lines filed

Lines not itemized here account for $1,932 of total revenue; see the IRS return.

VIII-1a Federated campaigns$31,902

VIII-1f All other contributions, gifts and grants$3,917,521

VIII-1g Noncash contributions (included above)$37,094

VIII-1h Total contributions, gifts and grants$3,949,423

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,113,407$16,113,407

VIII-3 Investment incomeExcluded from tax $105,692$105,692

VIII-6 Net rental income or lossExcluded from tax $54,630$54,630

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $64,625 · Excluded from tax $67,647$132,272

VIII-12 Total revenueRelated to mission $16,178,032 · Unrelated business $0 · Excluded from tax $229,901$20,357,356

Part IX · Statement of functional expenses $19,351,595 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $4,785,858$4,785,858

IX-5 Pay of current officers, directors and key staffPrograms $482,135 · Management $48,755 · Fundraising $10,835$541,725

IX-6 Pay of disqualified personsPrograms $6,383 · Management $1,082 · Fundraising $291$7,756

IX-7 Other salaries and wagesPrograms $5,845,039 · Management $1,020,649 · Fundraising $276,341$7,142,029

IX-8 Pension plan contributionsPrograms $222,677 · Management $39,154 · Fundraising $10,619$272,450

IX-9 Other employee benefitsPrograms $1,049,717 · Management $83,133 · Fundraising $22,494$1,155,344

IX-10 Payroll taxesPrograms $544,424 · Management $88,278 · Fundraising $23,726$656,428

IX-11b Legal feesManagement $12,112$12,112

IX-11c Accounting feesManagement $16,850$16,850

IX-11f Investment management feesManagement $81,857$81,857

IX-11g Other fees for servicesPrograms $135,539 · Management $186,311 · Fundraising $54,071$375,921

IX-12 Advertising and promotionPrograms $850 · Management $51,771$52,621

IX-13 Office expensesPrograms $256,993 · Management $132,194 · Fundraising $55,920$445,107

IX-14 Information technologyPrograms $176,187$176,187

IX-16 OccupancyPrograms $203,843 · Management $16,450 · Fundraising $2,299$222,592

IX-17 TravelPrograms $112,932 · Management $1,989 · Fundraising $3,866$118,787

IX-20 InterestPrograms $135,848$135,848

IX-22 Depreciation, depletion and amortizationPrograms $1,058,514 · Management $85,423 · Fundraising $11,941$1,155,878

IX-23 InsurancePrograms $84,125 · Management $8,715 · Fundraising $1,218$94,058

IX-24 Other expenses (24a–d)Programs $1,705,955 · Management $29,665 · Fundraising $4,146$1,739,766

IX-24e All other expensesPrograms $37,151 · Management $98,646 · Fundraising $26,624$162,421

IX-25 Total functional expensesPrograms $16,844,170 · Management $2,003,034 · Fundraising $504,391$19,351,595

Part X · Balance sheet $37,381,230 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $1,380,943$32,265

X-2 Savings and temporary cash investmentsStart of year $285,014$4,210,900

X-3 Pledges and grants receivableStart of year $205,851$197,421

X-4 Accounts receivableStart of year $67,055$97,690

X-8 Inventories for sale or useStart of year $4,543$3,457

X-9 Prepaid expenses and deferred chargesStart of year $60,177$38,599

X-10c Land, buildings and equipment, netStart of year $16,382,443$15,750,257

X-11 Publicly traded securitiesStart of year $2,166,605$2,191,790

X-15 Other assetsStart of year $14,127,370$14,858,851

X-16 Total assetsStart of year $34,680,001$37,381,230

X-17 Accounts payable and accrued expensesStart of year $1,120,674$1,142,128

X-19 Deferred revenueStart of year $846,333$1,161,932

X-25 Other liabilitiesStart of year $13,974$102,445

X-26 Total liabilitiesStart of year $4,876,364$5,233,926

X-27 Net assets without donor restrictionsStart of year $11,432,207$10,895,514

X-28 Net assets with donor restrictionsStart of year $18,371,430$21,251,790

X-32 Total net assets or fund balancesStart of year $29,803,637$32,147,304

X-33 Total liabilities and net assetsStart of year $34,680,001$37,381,230

Part XI · Reconciliation of net assets $32,147,304 net assets at year end

XI-1 Total revenue$20,357,356

XI-2 Total expenses$19,351,595

XI-3 Revenue less expenses$1,005,761

XI-4 Net assets at start of year$29,803,637

XI-5 Net unrealized gains (losses) on investments$116,899

XI-9 Other changes in net assets$1,221,007

XI-10 Net assets at end of year$32,147,304

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Lincoln School FY2023 filing

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