2011-11-14T10:54:57-06:00 2011-06-30 BATCHELOR FRECHETTE MCCRORY MICHAEL & CO PO BOX 156 PROVIDENCE RI 029010156 990 2010-07-01 050258900 LINCOLN SCHOOL LINC 4013319696 301 BUTLER AVENUE PROVIDENCE RI 029065545 PAULA MURRAY MCNAMARA 4013319696 2011-11-07 1 GEORGE F WARNER 4016216200 2010 2016-02-24 21:20:13Z PAULA MURRAY MCNAMARA 301 BUTLER AVENUE PROVIDENCE RI 029065545 23534250 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 22 152 53 0 0 1861632 1521286 10086042 9948600 14099 1081799 89924 181821 12051697 12733506 2275502 2690917 0 0 6562792 6050372 9000 70361 752342 2832471 2808966 11679765 11620616 371932 1112890 20781189 21030875 6332849 5287085 14448340 15743790 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 7153759 2690917 9071225 INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE. 382373 729970 INFANT TODDLER CARE AND EXTENDED DAY CARE - DAYCARE SERVICES FOR INFANTS AND TODDLERS, AFTER SCHOOL CARE FOR OTHER STUDENTS. 70559 88269 ENRICHMENT PROGRAMS - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AFTER SCHOOL HOURS. 1638637 17342 ALL SCHOOL FACILITIES COSTS. 329036 41794 DINING FACILITIES 1967673 59136 9574364 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 43 0 152 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 BETHANN ALLCOCK 2.00 X 0 0 0 DANA ALLCOCK 2.00 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 ERIKA LAMB 2.00 X 0 0 0 JAMES ENGLISH 2.00 X X 0 0 0 SARAH FOGARTY 2.00 X 0 0 0 KRISTEN HAFFENREFFER MORAN 2.00 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 JUSTIN PETERS 2.00 X 0 0 0 ANN PERLMAN 2.00 X 0 0 0 ERIN MURPHY 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 JAMIESON 2.00 X 0 0 0 PAUL MCCAULEY 2.00 X X 0 0 0 ELIZABETH OLNEY MCLOUGHLIN 2.00 X 0 0 0 JULIA RUSSELL EELLS 40.00 X X 243000 0 23250 KYM GAISSL 40.00 X X 130200 0 5250 ADRIENNE MORRIS 40.00 X 101366 0 0 KATHLEEN MACDONELL 40.00 X 103075 0 5250 577641 0 33750 4 0 1 0 SAGE DINING SERVICES 222 BOSLEY AVENUE SUITE B7 TOWSON MD 21204 DINING SERVICES 356696 1 83843 1437443 350759 1521286 TUITION & FEES 611710 9071225 9071225 INFANT/TODDLER CARE AN 611710 729970 729970 ENRICHMENT PROGRAMS 611710 88269 88269 DINING ROOM 611710 41794 41794 RENTAL TO UNAFFIL. EXE 611710 17342 17342 9948600 240648 240648 11594238 10753087 841151 841151 841151 71820 83843 47657 24163 24163 MISCELLANEOUS INCOME 611710 152284 152284 SERVICE CHARGES 611710 5129 5129 VENDING MACHINES 611710 245 245 157658 12733506 10106258 0 1105962 2690917 2690917 346000 29380 233000 83620 4584664 3964253 362924 257487 372331 296415 59692 16224 408809 316892 72066 19851 338568 275803 43748 19017 381888 329036 48672 4180 10933 10933 23800 23800 70361 70361 25953 25953 16326 9055 7271 16736 390 16346 145952 44981 29741 71230 21402 21402 182383 95858 41379 45146 8995 6996 1999 760 760 185803 185803 739194 702130 18532 18532 74185 54496 19689 BUILDING MAINTENANCE 262563 262563 GENERAL ALL SCHOOL EXPE 251931 251931 PROFESSIONAL DEVELOPMEN 61945 61945 SERVICE CONTRACTS 60533 60533 MISCELLANEOUS EXPENSE 46844 46844 290840 127026 103711 60103 11620616 9574364 1293910 752342 2705612 2752555 485633 858333 778529 16838 22064 26502 4262 18346193 8410287 10538628 9935906 6134270 494409 6914 6597 7045012 20781189 21030875 869655 783768 1860816 1002637 3007702 3043186 594676 457494 6332849 5287085 X 6996891 7401558 1114388 810972 6337061 7531260 14448340 15743790 20781189 21030875 X 1112890 182560 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6628679 601079 1288076 1449753 25953 7042128 6131763 609742 664765 754335 23256 6628679 6892740 719815 -815331 642939 22522 6131763 0.00000 0.93500 0.06500 1 0 331046 331046 13901642 6310316 7591326 2107594 1548243 559351 2005911 551728 1454183 9935906 ACCOUNTS RECEIVABLE - FACULTY 2884 BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION 7042128 7045012 DUE TO STUDENTS 36224 CAPITAL LEASE OBLIGATIONS 384000 POSTRETIREMENT BENEFITS OTHER THAN PENSION 37270 457494 12733506 11620616 1112890 4500 178060 182560 1295450 10501642 214980 4500 219480 10282162 2451344 2451344 12733506 9206192 0 9206192 2414424 2414424 11620616 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 BALANCE SHEET 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. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INVESTMENTS 214,980. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION -36,920. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,059,435. MANAGEMENT FEES FOR DINING SERVICES 329,036. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 25,953. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION 36,920. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,059,435. MANAGEMENT FEES FOR DINING SERVICES 329,036. ADVISORY FEES INCLUDED IN OTHER INCOME ON FINANCIAL STATEMENTS 25,953. 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 X X X X X X 1 JAQUES & COMPANY INC 254 BAY ROAD SOUTH HAMILTON MA 01982 DEVELOPEMENT AUDIT AND CAMPAIGN COUNSEL 0 0 70361 0 70361 RI MA LIGHT UP LINCOLN 2011 104314 73638 30676 12375 1700 BOOK FESTIVAL 42564 2160 40404 32019 1 8785 8045 740 1563 155663 83843 71820 12375 35282 47657 24163 1 FINANCIAL AID FOR STUDENTS ATTENDING THE LINCOLN SCHOOL 140 2059435 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. X X 1 1 X X X X 0 0 0 1 0 1 0 0 0 JULIA RUSSELL EELLS 200000 0 20000 0 23000 0 0 0 23250 0 266250 0 100000 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 THE 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 THE LINCOLN SCHOOL. PART I, LINE 5 THE HEAD OF SCHOOL IS ENTITLED TO A BONUS NOT TO EXCEED A SET DOLLAR AMOUNT. THE AMOUNT OF BONUS THAT IS PAID TO THE HEAD OF SCHOOL IS DEPENDANT UPON THE HEAD'S PERFORMANCE CONSISTENT WITH PEFORMANCE GOALS AGREED UPON IN A CONTRACT BETWEEN THE HEAD OF SCHOOL AND THE LINCOLN SCHOOL, AS WELL AS THE FINANCIAL CONDITION OF THE SCHOOL. THE GOALS TARGETED IN THE CONTRACT MAY INVOLVE OPERATING RESULTS AS COMPARED TO BUDGET, NUMBER OF STUDENTS ENROLLED IN THE SCHOOL, AS WELL AS SUCCESS IN REACHING ANNUAL FUND GOALS. PART I, LINE 6 THE HEAD OF SCHOOL IS ENTITLED TO A BONUS NOT TO EXCEED A SET DOLLAR AMOUNT. THE AMOUNT OF BONUS THAT IS PAID TO THE HEAD OF SCHOOL IS DEPENDANT UPON THE HEAD'S PERFORMANCE CONSISTENT WITH PEFORMANCE GOALS AGREED UPON IN A CONTRACT BETWEEN THE HEAD OF SCHOOL AND THE LINCOLN SCHOOL, AS WELL AS THE FINANCIAL CONDITION OF THE SCHOOL. THE GOALS TARGETED IN THE CONTRACT MAY INVOLVE OPERATING RESULTS AS COMPARED TO BUDGET, NUMBER OF STUDENTS ENROLLED IN THE SCHOOL, AS WELL AS SUCCESS IN REACHING ANNUAL FUND GOALS. X 15 305006 PUBLIC STOCK EXCHANGE X GALA AUCTION 127 34760 FAIR VALUE X BOOK FESTIVAL 6 2160 FAIR VALUE X WATER HEATER 1 8833 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 GOVERNORS 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 GOVERNORS 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 COMMITEE 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 COMMITTE 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 5: DONATED SERVICES AND USE OF FACILITIES: 4,500. UNREALIZED GAIN ON INVESTMENTS 214,980. FAIR MARKET VALUE OF ITEMS DONATED TO THE AUCTION -36,920. TOTAL TO FORM 990, PART XI, LINE 5: 182,560. 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.