2013-11-14T09:34:33-06:00 2013-06-30 050487888 BATCHELOR FRECHETTE MCCRORY MICHAEL & CO PO BOX 156 PROVIDENCE RI 029010156 990 2012-07-01 050258900 LINCOLN SCHOOL LINC 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 PAULA MURRAY MCNAMARA 4013319696 2013-11-04 1 GEORGE F WARNER P01238829 4016216200 2012 2016-02-25 16:41:14Z PAULA MURRAY MCNAMARA 301 BUTLER AVENUE PROVIDENCE RI 029065545 11622850 0 X WWW.LINCOLNSCHOOL.ORG X 1884 RI THE PRIMARY PURPOSE OF THE LINCOLN SCHOOL IS TO PROVIDE AN EXCEPTIONALLY HIGH QUALITY OF EDUCATION FOR GIRLS, WITH PROGRAMS FOR STUDENTS IN NURSERY THROUGH GRADE TWELVE. 22 22 161 53 0 0 2125469 1164873 10266818 10278007 1238 0 85043 115605 12478568 11558485 2991211 3175221 0 0 6007026 6228660 35115 0 808819 2840036 2863235 11873388 12267116 605180 -708631 21371117 20951163 5068989 4503431 16302128 16447732 X THE LINCOLN SCHOOL'S MISSION IS TO PROVIDE AN INDEPENDENT COLLEGE PREPERATORY SCHOOL FOR GIRLS WHERE HIGH ACADEMIC AND ETHICAL STANDARDS CHALLENGE STUDENTS FROM NURSERY THROUGH GRADE TWELVE TO NURTURE THEIR SPECIAL TALENTS AND INTERESTS. 0 0 7907561 3175221 9286593 INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE. 421947 880615 INFANT TODDLER CARE AND EXTENDED DAY CARE - DAYCARE SERVICES FOR INFANTS AND TODDLERS, AFTER SCHOOL CARE FOR OTHER STUDENTS. 25564 61882 ENRICHMENT PROGRAMS - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AFTER SCHOOL HOURS. 1484408 20363 ALL SCHOOL FACILITIES COSTS AND RENTAL INCOME FROM AN UNAFFILIATED EXEMPT ORGANIZATION. 329808 28554 DINING FACILITIES 1814216 48917 10169288 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 39 0 161 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X KYM GAISSL 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 DANA ALLCOCK 2.00 X X 0 0 0 PAULA MURRAY MCNAMARA 2.00 X X 0 0 0 STEPHEN COON 2.00 X 0 0 0 SUSAN B HIBBITT 2.00 X 0 0 0 PATRICIA IGOE 2.00 X 0 0 0 GIL MACLEAN 2.00 X 0 0 0 JAMES ENGLISH 2.00 X X 0 0 0 ROBERT RIDLEY 2.00 X 0 0 0 ARLENE TATE SCHULER 2.00 X 0 0 0 CURTIS SPALDING 2.00 X 0 0 0 NANCY NAHIGIAN TAVITIAN 2.00 X X 0 0 0 MARTHA BOSS BENNETT 2.00 X X 0 0 0 JANE PALESTINE JAMIESON 2.00 X 0 0 0 DIVAKAR MANDAPATI 2.00 X 0 0 0 CAREN MENDEZ 2.00 X 0 0 0 DAVID WHALEN 2.00 X 0 0 0 KELLY DEBLOIS 2.00 X 0 0 0 KIM BRIGGS BERRY 2.00 X 0 0 0 HEATHER HAHN FOWLER 2.00 X 0 0 0 MARIS PERLMAN 2.00 X 0 0 0 KILAH WALTERS 2.00 X 0 0 0 MARISA TRANT 2.00 X 0 0 0 JULIA RUSSELL EELLS 40.00 X 248490 0 42150 KYM GAISSL 40.00 X 132553 0 22743 381043 0 64893 2 0 1 0 NEW ENGLAND CONSTRUCTION 23 BOURNE AVE RUMFORD RI 02916 BATHROOM PROJECT 403659 SAGE DINING SERVICES 222 BOSLEY AVENUE SUITE B7 TOWSON MD 21204 DINING SERVICES 355107 LJ GIORGI PLUMBING 4 SHERWOOD AVE NORTH PROVIDENCE RI 02911 BOILER PROJECT 238633 ATLANTIC CONTROL SYSTEMS 318 DRY BRIDGE ROAD NORTH KINGSTOWN RI 02852 BOILER PROJECT 112413 4 102940 1061933 299878 1164873 TUITION & FEES 611710 9286593 9286593 INFANT/TODDLER CARE AND EXTENDED 611710 880615 880615 ENRICHMENT PROGRAMS 611710 61882 61882 DINING ROOM 611710 28554 28554 RENTAL TO UNAFFIL. EXEMPT ORGS AT 611710 20363 20363 10278007 70502 102940 64365 6137 6137 MISCELLANEOUS INCOME 611710 108755 108755 VENDING MACHINES 611710 668 668 SERVICE CHARGES 611710 45 45 109468 11558485 10387475 0 6137 3175221 3175221 356580 29117 244590 82873 4748960 4024049 388377 336534 335921 266809 50961 18151 428766 353215 64295 11256 358433 286737 47334 24362 382879 329808 52263 808 27066 27066 32800 32800 54549 54549 25474 18409 7065 25179 938 24241 109980 44982 25264 39734 21792 21792 153779 75880 37067 40832 6353 3660 2693 143053 143053 784544 745316 19614 19614 82034 60059 21975 GENERAL ALL SCHOOL EXPE 258097 258097 BUILDING MAINTENANCE 204318 204318 PUBLIC RELATIONS 130651 130651 GENERAL UPPER SCHOOL EX 75289 75289 345398 221044 69076 55278 12267116 10169288 1289009 808819 2939253 1889437 470599 236099 538 585 1312 6161 20258798 9911189 10371458 10347609 7587957 8471272 21371117 20951163 1137739 842797 956533 923872 2487663 2290057 487054 446705 5068989 4503431 X 7643572 7373965 819642 457626 7838914 8616141 16302128 16447732 21371117 20951163 X -708631 899631 -45396 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7587957 347453 899532 317803 54550 8462589 7042128 765341 -12939 154711 51862 7587957 6628679 601079 1288076 1449753 25953 7042128 6131763 609742 664765 754335 23256 6628679 6892740 719815 -815331 642939 22522 6131763 0.00000 1.00000 0.00000 1 0 331046 331046 15161438 7200450 7960988 2541979 1673201 868778 2224335 1037538 1186797 10347609 BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION 8471272 8471272 DUE TO STUDENTS 21721 CAPITAL LEASE OBLIGATIONS 393615 POSTRETIREMENT BENEFITS OTHER THAN PENSION 30869 ENROLLMENT DEPOSIT 500 446705 X 9531602 899631 899631 8631971 2926514 2926514 11558485 9385997 0 9385997 2881119 2881119 12267116 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL TRANSFERRED THEIR PERMANENTLY RESTRICTED NET ASSETS TO THE RI FOUNDATION (THE FOUNDATION) ON JUNE 24, 2011. THE SCHOOLS PERMANENTLY RESTRICTED NET ASSETS ARE HELD BY THE FOUNDATION IN FIVE SEPARATE FUNDS, THE FACULTY FUND, THE SCHOLARSHIP FUND, THE LINCOLN SCHOLARS FUND, THE EDUCATION FUND, AND THE OPERATIONS/UNRESTRICTED FUND. PROSPECTIVE DONORS CAN MAKE CONTRIBUTIONS TO THESE FUNDS TO BENEFIT THE SCHOOL. ANNUAL DISTRIBUTIONS FROM THESE FUNDS WILL BE DETERMINED IN ACCORDANCE WITH THE POLICIES OF THE FOUNDATION AND WILL BE FROM INCOME GENERATED BY THE FUNDS. INCOME PAID TO THE SCHOOL FROM THE VARIOUS FUNDS WILL BE USED IN SUPPORT OF THE FUNDS PURPOSE. PAYMENTS OF INCOME AND/OR PRINCIPAL FROM ANY FUND MAY BE MADE ONLY UPON APPROVAL OF THE FOUNDATIONS BOARD OF DIRECTORS. PERMANENTLY RESTRICTED NET ASSETS ARE ENDOWED TO PROVIDE A PERMANENT SOURCE OF INCOME TO SUPPORT SPECIFIC PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: UNCERTAINTY IN INCOME TAXES: WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 PERCENT LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE, IF ANY, WOULD BE REFLECTED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS. THE OPEN TAX YEARS ARE 2009-2012. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,496,762. DINING ROOM EXPENSE 329,808. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 54,549. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION 45,395. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,496,762. DINING ROOM EXPENSE 329,808. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 54,549. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 USE OF NEWSPAPER AND PERIODICALS WITH OTHER AREA PREP SCHOOLS LEGACY GALA 115710 87340 28370 11610 4474 BOOK FESTIVAL 46932 8895 38037 46294 1 10800 6705 4095 1987 173442 102940 70502 11610 52755 64365 6137 1 FINANCIAL AID AND TUITION REMISSION FOR STUDENTS ATTENDING THE LINCOLN SCHOOL AND EMPLOYEE'S WHOSE CHILDREN ATTEND THE LINCOLN SCHOOL. 201 3175221 VALUE OF TUITION REDUCTION APPROVED BY HEAD OF SCHOOL AND HEAD OF ADMISSIONS REDUCTION OF GROSS TUITION. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID IS GIVEN TO STUDENTS BASED ON THE NEEDS OF THE STUDENT. THIS PROCESS IS MONITORED BY THE HEAD OF SCHOOL, DIRECTOR OF FINANCIAL AID AND DIRECTOR OF ADMISSIONS. EVERY STUDENT REQUESTING FINANCIAL AID IS REQUIRED TO SUBMIT THE NECESSARY FINANCIAL DATA AND FINANCIAL AID FORMS TO BE REVIEWED BY THE HEAD OF SCHOOL AND DIRECTOR OF FINANCIAL AID BEFORE ACCEPTANCE AND AWARD. ONCE FINANCIAL AID IS GRANTED, THE STUDENT IS BILLED FOR THE GROSS TUITION AND THE AMOUNT OF FINANCIAL AID AWARDED IS APPLIED TO THE APPROPRIATE ACCOUNT. THE STUDENT THEN REMITS THE NET AMOUNT OF THE TUITION DUE. EMPLOYEE'S WHOSE CHILDREN ATTEND THE LINCOLN SCHOOL ALSO RECEIVE A REDUCTION IN TUITION. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JULIA RUSSELL EELLS 238990 0 0 0 9500 0 22500 0 19650 0 290640 0 0 0 KYM GAISSL 132553 0 0 0 0 0 18995 0 3748 0 155296 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH A RESIDENCE ON THE UPPER FLOOR OF A HOUSE THAT IS OWNED BY LINCOLN SCHOOL. THE BOTTOM FLOOR OF THE RESIDENCE IS USED BY THE HEAD TO ENTERTAIN POTENTIAL STUDENTS AND THEIR FAMILIES, SUBSTANTIAL AND/OR POTENTIAL CONTRIBUTORS AND OTHERS WHO HAVE A DIRECT BUSINESS RELATIONSHIP WITH THE SCHOOL. THE DUTIES REQUIRED BY THE HEAD OF SCHOOL INCLUDE BEING THE REPRESENTATIVE OF THE BOARD IN ITS RELATIONS WITH THE FACULTY, STAFF, STUDENTS AND THE PATRONS OF THE SCHOOL. THE HEAD OF SCHOOL WOULD NOT BE ABLE TO PERFORM THE REQUIRED DUTIES OF HER POSITION WITHOUT THE RESIDENCE THAT IS PROVIDED. THIS ARRANGEMENT IS PART OF AN AGREEMENT BETWEEN THE HEAD OF SCHOOL AND LINCOLN SCHOOL. CHILDREN OF EMPLOYEE 27134 TUITION REDUCTION TO PROVIDE REDUCED TUITION TO CHILDREN OF EMPLOYEES X 4 254483 PUBLIC STOCK EXCHANGE X GALA AUCTION 94 38400 FAIR VALUE X BOOK FESTIVAL 1 2145 FAIR VALUE X WINE FOR GALA 48 1920 FAIR VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF THE FORM 990 WAS REVIEWED IN DETAIL BY THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C A FORMAL CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES TO ENSURE ALL BUSINESS RELATIONSHIPS ARE IN THE BEST INTEREST OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE CONSISTING OF THE PRESIDENT, VICE PRESIDENT, TREASURER AND SECRETARY MEET EACH YEAR PRIOR TO AUGUST 20, TO GIVE IT'S ANNUAL EVALUATION OF THE HEAD OF SCHOOL'S PERFORMANCE. THE HEAD OF SCHOOL THEN HAS AN OPPORTUNITY TO RESPOND AS NEEDED. THE HEAD OF SCHOOL MUST GIVE THE COMMITTE A WRITTEN OVERVIEW OF HOW SHE HAS PROGRESSED IN MEETING THE GOALS OUTLINED BY THE EXECUTIVE COMMITTEE. THIS WRITTEN OVERVIEW MUST BE GIVEN TO THE EXECUTIVE COMMITTEE AT LEAST TWENTY DAYS BEFORE THE SCHEDULED MEETING BETWEEN THE EXECUTIVE COMMITTEE AND THE HEAD OF SCHOOL. FAILURE TO PERFORM ACCORDING TO THE BOARD'S EXPECTATIONS MAY RESULT IN REASSIGNMENT OF DUTIES, OR OTHER APPROPRIATE MEASURES UP TO AND INCLUDING TERMINATION OF THE AGREEMENT BETWEEN LINCOLN SCHOOL AND THE HEAD OF SCHOOL. THE EXECUTIVE COMMITTEE MEETS WITH THE HEAD OF SCHOOL NO LATER THAN AUGUST 20 EACH YEAR AND MUTUALLY AGREEABLE GOALS ARE SET FOR THE HEAD OF SCHOOL FOR THE UPCOMING SCHOOL YEAR. THE EXECUTIVE COMMITTEE THEN MEETS WITH THE HEAD OF SCHOOL PERIODICALLY THROUGHOUT THE YEAR TO DISCUSS THE PROGRESS TO DATE ON THE GOALS SET. THE EXECUTIVE COMMITTEE WILL PROVIDE ANY FEEDBACK NECESSARY ON THE PERFORMANCE OF THE HEAD OF SCHOOL. THESE MEETINGS ARE INFORMAL. A FORMAL MEETING IS SET FOR THE END OF JANUARY EACH YEAR TO DISCUSS A MID TERM ASSESSMENT OF THE PROGRESS ON THE GOALS SET AT THE BEGINNING OF THE SCHOOL YEAR. THE EXECUTIVE COMMITTEE WILL REVIEW THE HEAD OF SCHOOL'S SALARY ON OR BEFORE AUGUST 20 OF EACH YEAR (WITH ANY ADJUSTMENTS RETROACTIVE TO JULY 1). UPON EACH REVIEW THE EXECUTIVE COMMITTEE RETAINS THE RIGHT TO ADJUST THE ANNUAL SALARY AND BENEFITS PAYABLE TO THE HEAD OF SCHOOL DURING THE TERM OF THEIR AGREEMENT. ANY SALARY INCREASE WILL DEPEND UPON THE HEAD OF SCHOOL'S PERFORMANCE AND THE FINANCIAL CONDITION OF THE SCHOOL. THE EXECUTIVE COMMITTEE USES NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, AN ORGANIZATION WHICH PROVIDES ACCREDITATION FOR PRIVATE SCHOOLS, FOR COMPARABILITY DATA IN DETERMINING THE HEAD OF SCHOOL'S COMPENSATION AND EXAMINING IT FOR REASONABLENESS. ALL OTHER FACULTY AND STAFF ARE REVIEWED ANNUALLY BY THE HEAD OF SCHOOL AND COMPENSATION IS INCREASED ACCORDINGLY NOT TO EXCEED GUIDELINES SET BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 IN ORDER FOR THE PUBLIC TO REVIEW THE GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS OF THIS ORGANIZATION, THEY ARE REQUIRED TO CALL AND REQUEST TO SEE THE DOCUMENTS. THE ORGANIZATION WILL THEN MAKE THE DOCUMENTS AVAILABLE WITHIN 24 HOURS OF THE REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION -45,396. FORM 990, PART XI, ITEM 2C THE FINANCE COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTING FIRM. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.