Lincoln School: FY2024 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
FY2025	$22.1M

Expenses by fiscal year
FY2020	$18.5M
FY2021	$17.7M
FY2022	$18.6M
FY2023	$19.4M
FY2024	$21.1M
FY2025	$22.1M

Net assets by fiscal year
FY2020	$26.5M
FY2021	$31.5M
FY2022	$29.8M
FY2023	$32.1M
FY2024	$33.5M
FY2025	$35.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1977.

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

Where the money goes

85 cents of each dollar spent went to programs.

85%

12%

Program services 85% · $17.8M Management & general 12% · $2.6M Fundraising 3% · $651K

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

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

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Sophie G Lau

Head of School

$325,715Pt VII · Sec A

Brenda L Konopelko

Chief Financial Officer

$172,639Pt VII · Sec A

Susan a Farnum

Director of Admissions

$149,725Pt VII · Sec A

Deborah Elwell Hanney

Director of Middle School

$131,479Pt VII · Sec A

Kimberly a Lough

Director of Little School

$127,012Pt VII · Sec A

Ianthe Hershberger

Lower School Director

$115,452Pt VII · Sec A

Barret Fabris

Dir. of Diversity, Equity, Inclusion

$103,971Pt VII · Sec A

Siraj Amanullah

Trustee

$0Pt VII · Sec A

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

Name	FY2025	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.

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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.

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Provided by the organization

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3 programs · $17.7M · in their own filed words · FY2023

01

Instructional Services

Programs for students in nursery school through grade twelve.

$17.6Mprogram expense

02

Infant Toddler Care

Infant and toddler daycare services.

$126Kprogram expense

03

Enrichment and Extended Day

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

$7Kprogram 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 FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$20.4M

Ln 12

Fees for servicesLn 2g$18.0M

Gifts and grantsLn 1h$2.1M

Investment incomeLn 3$207K

Money outPt IX

$21.1M

Ln 25

Programscol B$17.8M

Managementcol C$2.6M

Fundraisingcol D$651K

Owns and owesPt X

$33.5M

net assets · Ln 32

Cash and savingsLn 1–2$4.6M

Total assetsLn 16$38.6M

LiabilitiesLn 26$5.1M

PeoplePt VI, VII

30

listed · VII A

PaidVII A7

Voting boardVI 1a23

IndependentVI 1b20

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.1M

Noncash giftsLn 1g$82K

Fees for servicesLn 2g$18.0M

Investment incomeLn 3$207K

Other incomeLn 4–11$175K

Total revenueLn 12$20.4M

Assets in detailPt X, end of year

CashLn 1$151K

SavingsLn 2$4.5M

Cash and savings togetherLn 1–2$4.6M

InvestmentsLn 11–13$2.4M

Land, buildings, equipmentLn 10c$15.3M

Other assetsLn 15$15.8M

Total assetsLn 16$38.6M

LiabilitiesLn 26$5.1M

Net assetsLn 32$33.5M

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$4.2M	$4.6M
InvestmentsLn 11–13	$2.2M	$2.4M
Land, buildings, equipmentLn 10c	$15.8M	$15.3M
Total assetsLn 16	$37.4M	$38.6M
LiabilitiesLn 26	$5.2M	$5.1M
Net assetsLn 32	$32.1M	$33.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$5.1M	$5.1M
Pay of current officers, directors and key staffLn 5	$584K	$519K	$53K	$12K
Other salaries and wagesLn 7	$8.0M	$6.0M	$1.6M	$369K
Pension plan contributionsLn 8	$295K	$222K	$60K	$14K
Other employee benefitsLn 9	$1.3M	$1.2M	$128K	$29K
Payroll taxesLn 10	$726K	$559K	$136K	$31K
Legal feesLn 11b	$14K		$14K
Accounting feesLn 11c	$27K		$27K
Investment management feesLn 11f	$71K		$71K
Other fees for servicesLn 11g	$247K	$121K	$59K	$67K
Advertising and promotionLn 12	$72K	$5K	$67K
Office expensesLn 13	$465K	$248K	$129K	$88K
Information technologyLn 14	$263K	$262K	$924
OccupancyLn 16	$224K	$205K	$17K	$2K
TravelLn 17	$144K	$139K	$2K	$3K
InterestLn 20	$134K	$134K
Depreciation, depletion and amortizationLn 22	$1.2M	$1.1M	$85K	$12K
InsuranceLn 23	$99K	$89K	$9K	$1K
Other expenses (24a–d)Ln 24	$2.0M	$1.9M	$30K	$4K
All other expensesLn 24e	$140K	$46K	$76K	$17K
Total functional expensesLn 25	$21.1M	$17.8M	$2.6M	$651K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$22.1M	$22.1M	−$55K	$35.1M	990 PDF
FY2024 Viewing	$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	$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 FY2024 990 (6 parts)

Part I · Summary $20,447,499 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,949,423$2,090,328

I-9 Program service revenuePrior year $16,113,407$17,975,188

I-10 Investment incomePrior year $105,692$207,443

I-11 Other revenuePrior year $188,834$174,540

I-12 Total revenuePrior year $20,357,356$20,447,499

I-13 Grants and similar amounts paidPrior year $4,785,858$5,062,501

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

I-15 Salaries and benefitsPrior year $9,775,732$10,973,152

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

I-17 Other expensesPrior year $4,790,005$5,017,811

I-18 Total expensesPrior year $19,351,595$21,053,464

I-19 Revenue less expensesPrior year $1,005,761−$605,965

Part VI · Governance 20 of 23 board members independent, no flags

VI-1a Voting members of the governing body23

VI-1b Independent voting members20

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 $20,447,499 across 9 lines filed

Lines not itemized here account for $418 of total revenue; see the IRS return.

VIII-1a Federated campaigns$29,550

VIII-1f All other contributions, gifts and grants$2,060,778

VIII-1g Noncash contributions (included above)$81,887

VIII-1h Total contributions, gifts and grants$2,090,328

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,975,188$17,975,188

VIII-3 Investment incomeExcluded from tax $207,443$207,443

VIII-6 Net rental income or lossExcluded from tax $29,540$29,540

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $66,413 · Excluded from tax $78,169$144,582

VIII-12 Total revenueRelated to mission $18,041,601 · Unrelated business $0 · Excluded from tax $315,570$20,447,499

Part IX · Statement of functional expenses $21,053,464 across 20 lines filed

IX-2 Grants to domestic individualsPrograms $5,062,501$5,062,501

IX-5 Pay of current officers, directors and key staffPrograms $519,477 · Management $52,531 · Fundraising $11,674$583,682

IX-7 Other salaries and wagesPrograms $6,047,113 · Management $1,606,746 · Fundraising $369,291$8,023,150

IX-8 Pension plan contributionsPrograms $221,895 · Management $59,832 · Fundraising $13,755$295,482

IX-9 Other employee benefitsPrograms $1,187,253 · Management $127,874 · Fundraising $29,373$1,344,500

IX-10 Payroll taxesPrograms $559,123 · Management $135,990 · Fundraising $31,225$726,338

IX-11b Legal feesManagement $14,319$14,319

IX-11c Accounting feesManagement $27,274$27,274

IX-11f Investment management feesManagement $70,538$70,538

IX-11g Other fees for servicesPrograms $121,212 · Management $58,784 · Fundraising $66,763$246,759

IX-12 Advertising and promotionPrograms $5,084 · Management $66,972$72,056

IX-13 Office expensesPrograms $248,109 · Management $128,988 · Fundraising $88,140$465,237

IX-14 Information technologyPrograms $262,323 · Management $924$263,247

IX-16 OccupancyPrograms $205,056 · Management $16,548 · Fundraising $2,314$223,918

IX-17 TravelPrograms $139,195 · Management $1,552 · Fundraising $3,276$144,023

IX-20 InterestPrograms $133,681$133,681

IX-22 Depreciation, depletion and amortizationPrograms $1,055,411 · Management $85,173 · Fundraising $11,906$1,152,490

IX-23 InsurancePrograms $89,043 · Management $9,031 · Fundraising $1,262$99,336

IX-24 Other expenses (24a–d)Programs $1,931,128 · Management $30,002 · Fundraising $4,195$1,965,325

IX-24e All other expensesPrograms $46,043 · Management $76,188 · Fundraising $17,377$139,608

IX-25 Total functional expensesPrograms $17,833,647 · Management $2,569,266 · Fundraising $650,551$21,053,464

Part X · Balance sheet $38,557,269 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $32,265$150,572

X-2 Savings and temporary cash investmentsStart of year $4,210,900$4,497,477

X-3 Pledges and grants receivableStart of year $197,421$208,822

X-4 Accounts receivableStart of year $97,690$176,320

X-8 Inventories for sale or useStart of year $3,457$5,971

X-9 Prepaid expenses and deferred chargesStart of year $38,599$20,421

X-10c Land, buildings and equipment, netStart of year $15,750,257$15,310,436

X-11 Publicly traded securitiesStart of year $2,191,790$2,428,517

X-15 Other assetsStart of year $14,858,851$15,758,733

X-16 Total assetsStart of year $37,381,230$38,557,269

X-17 Accounts payable and accrued expensesStart of year $1,142,128$1,192,147

X-19 Deferred revenueStart of year $1,161,932$1,064,623

X-25 Other liabilitiesStart of year $102,445$83,819

X-26 Total liabilitiesStart of year $5,233,926$5,102,770

X-27 Net assets without donor restrictionsStart of year $10,895,514$10,306,733

X-28 Net assets with donor restrictionsStart of year $21,251,790$23,147,766

X-32 Total net assets or fund balancesStart of year $32,147,304$33,454,499

X-33 Total liabilities and net assetsStart of year $37,381,230$38,557,269

Part XI · Reconciliation of net assets $33,454,499 net assets at year end

XI-1 Total revenue$20,447,499

XI-2 Total expenses$21,053,464

XI-3 Revenue less expenses−$605,965

XI-4 Net assets at start of year$32,147,304

XI-5 Net unrealized gains (losses) on investments$265,559

XI-9 Other changes in net assets$1,647,601

XI-10 Net assets at end of year$33,454,499

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Lincoln School FY2024 filing

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