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Nonprofiteer
← LINCOLN SCHOOL

Form 990 for tax year 2022

Filed by LINCOLN SCHOOL.

Totals

Total revenue
$20,357,356
Total expenses
$19,351,595
Contributions and grants received
$3,949,423
Grants paid
$4,785,858
Program service revenue
$16,113,407
Investment income
$105,692
Other revenue
$188,834
Total assets, end of year
$37,381,230
Total liabilities, end of year
$5,233,926
Net assets or fund balances, end of year
$32,147,304
Program services expenses (Part IX)
$16,844,170
Management and general expenses
$2,003,034
Fundraising expenses
$504,391
Program service expenses (Part III)
$16,844,170

Program services were 87.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $31,902

  • 1f · All other contributions, gifts and grants

    $3,917,521

  • 1g · Noncash contributions included above

    $37,094

  • 2a · Program service revenue: TUITION AND FEES

    total $13,603,333 · related or exempt $13,603,333

  • 2b · Program service revenue: INFANT TODDLER CARE

    total $2,220,291 · related or exempt $2,220,291

  • 2c · Program service revenue: CAMPS REVENUE

    total $184,120 · related or exempt $184,120

  • 2d · Program service revenue: ENRICHMENT PROGRAMS

    total $105,663 · related or exempt $105,663

  • 3 · Investment income

    total $105,692 · excluded $105,692

  • 6a · Gross rents

    real property $54,630

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $54,630

  • 6d · Net rental income or loss

    total $54,630 · excluded $54,630

  • 7a · Gross sales of assets other than inventory

    securities $103,790

  • 7b · Less cost or other basis and sales expenses

    securities $103,790

  • 7c · Gain or loss

    securities $0

  • 10a · Gross sales of inventory

    $9,416

  • 10b · Cost of goods sold

    $7,484

  • 10c · Net income from sales of inventory

    total $1,932 · excluded $1,932

  • 11a · Other revenue: INTERNATIONAL SCHOOL TRIPS

    total $64,625 · related or exempt $64,625

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $47,014 · excluded $47,014

  • 11c · Other revenue: BOOK FESTIVAL

    total $20,633 · excluded $20,633

  • 11e · Other revenue, total

    $132,272

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,785,858 · program services $4,785,858

  • 5 · Compensation of officers, directors and key employees

    total $541,725 · program services $482,135 · management and general $48,755 · fundraising $10,835

  • 6 · Compensation of disqualified persons

    total $7,756 · program services $6,383 · management and general $1,082 · fundraising $291

  • 7 · Other salaries and wages

    total $7,142,029 · program services $5,845,039 · management and general $1,020,649 · fundraising $276,341

  • 8 · Pension plan contributions

    total $272,450 · program services $222,677 · management and general $39,154 · fundraising $10,619

  • 9 · Other employee benefits

    total $1,155,344 · program services $1,049,717 · management and general $83,133 · fundraising $22,494

  • 10 · Payroll taxes

    total $656,428 · program services $544,424 · management and general $88,278 · fundraising $23,726

  • 11b · Fees: legal

    total $12,112 · management and general $12,112

  • 11c · Fees: accounting

    total $16,850 · management and general $16,850

  • 11f · Fees: investment management

    total $81,857 · management and general $81,857

  • 11g · Fees: other

    total $375,921 · program services $135,539 · management and general $186,311 · fundraising $54,071

  • 12 · Advertising and promotion

    total $52,621 · program services $850 · management and general $51,771

  • 13 · Office expenses

    total $445,107 · program services $256,993 · management and general $132,194 · fundraising $55,920

  • 14 · Information technology

    total $176,187 · program services $176,187

  • 16 · Occupancy

    total $222,592 · program services $203,843 · management and general $16,450 · fundraising $2,299

  • 17 · Travel

    total $118,787 · program services $112,932 · management and general $1,989 · fundraising $3,866

  • 20 · Interest

    total $135,848 · program services $135,848

  • 22 · Depreciation, depletion and amortization

    total $1,155,878 · program services $1,058,514 · management and general $85,423 · fundraising $11,941

  • 23 · Insurance

    total $94,058 · program services $84,125 · management and general $8,715 · fundraising $1,218

  • 24a · Other expenses: OTHER PROGRAM EXPENSES

    total $769,004 · program services $769,004

  • 24b · Other expenses: MEALS - DINING ROOM

    total $456,510 · program services $456,510

  • 24c · Other expenses: BUILDING MAINTENANCE

    total $401,399 · program services $367,588 · management and general $29,665 · fundraising $4,146

  • 24d · Other expenses: OUTSIDE PROGRAMS

    total $112,853 · program services $112,853

  • 24e · All other expenses

    total $162,421 · program services $37,151 · management and general $98,646 · fundraising $26,624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,380,943 · end of year $32,265

  • 2 · Savings and temporary cash investments

    beginning of year $285,014 · end of year $4,210,900

  • 3 · Pledges and grants receivable

    beginning of year $205,851 · end of year $197,421

  • 4 · Accounts receivable

    beginning of year $67,055 · end of year $97,690

  • 8 · Inventories for sale or use

    beginning of year $4,543 · end of year $3,457

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,177 · end of year $38,599

  • 10a · Land, buildings and equipment: cost or other basis

    $32,172,673

  • 10b · Land, buildings and equipment: accumulated depreciation

    $16,422,416

  • 10c · Land, buildings and equipment, net

    beginning of year $16,382,443 · end of year $15,750,257

  • 11 · Investments: publicly traded securities

    beginning of year $2,166,605 · end of year $2,191,790

  • 15 · Other assets

    beginning of year $14,127,370 · end of year $14,858,851

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,120,674 · end of year $1,142,128

  • 19 · Deferred revenue

    beginning of year $846,333 · end of year $1,161,932

  • 23 · Secured mortgages and notes payable

    beginning of year $2,895,383 · end of year $2,827,421

  • 25 · Other liabilities

    beginning of year $13,974 · end of year $102,445

  • 27 · Net assets without donor restrictions

    beginning of year $11,432,207 · end of year $10,895,514

  • 28 · Net assets with donor restrictions

    beginning of year $18,371,430 · end of year $21,251,790

Mission and programs · 2022

Mission

LINCOLN SCHOOL'S DYNAMIC ACADEMIC PROGRAM, ROOTED IN QUAKER PRINCIPLES, EDUCATES GIRLS TO FEARLESSLY EMBRACE THE OPPORTUNITIES AND RESPONSIBILITIES OF FULL CITIZENSHIP IN A COMPLEX WORLD.

Activities or mission (Part I)

TO PROVIDE AN INDEPENDENT COLLEGE PREPARATORY SCHOOL FOR GIRLS WHERE HIGH ACADEMIC AND ETHICAL STANDARDS CHALLENGE STUDENTS FROM NURSERY THROUGH GRADE TWELVE TO NURTURE THEIR SPECIAL TALENTS AND INTERESTS.

  • INSTRUCTIONAL SERVICES - PROGRAMS FOR STUDENTS IN NURSERY SCHOOL THROUGH GRADE TWELVE.

    Expenses $16,615,337 · Grants $4,785,858 · Revenue $13,667,958

  • INFANT TODDLER CARE - INFANT AND TODDLER DAYCARE SERVICES.

    Expenses $101,438 · Revenue $2,220,291

  • ENRICHMENT AND EXTENDED DAY - PROGRAMS DESIGNED FOR STUDENTS TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES AND EXTENDED DAY CARE AFTER SCHOOL HOURS.

    Expenses $5,791 · Revenue $289,783

  • Expenses $121,604

As filed on the 2022 return.

Listed in Part VII

  • Russell Carey

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kim Sprague Anderson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kathrin Pagonis Belliveau

    VICE CHAIR, THRU 05/2023

    Total calculated
    $0
    Hours/week
    2

  • Nancy Nahigian Tavitian

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jane Palestine Jamieson

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jim Casey

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Christopher Downs

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Siraj Amanullah

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Patricia Samors Benton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sarah Bouvier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dave Caldwell Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Caroline Canning

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joanne Chang

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sarah Conde

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joan Countryman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Margaret Field Kelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kirsten E Kenney

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Leticia Lopes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brendan McNally

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mih-Ho Cha Neenan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Liz Newton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kathryn Ramstad

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jai-Me Potter Rutledge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Denis Roche

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sophie G Lau

    HEAD OF SCHOOL

    Total calculated
    $367,446
    From this org
    $300,176
    From related orgs
    $0
    Other
    $67,270
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $277,129
    Bonus
    $17,047
    Other
    $6,000
    Deferred
    $14,270
    Nontaxable benefits
    $53,000
    Filer's total
    $367,446

  • Brenda L Konopelko

    CHIEF FINANCIAL OFFICER

    Total calculated
    $185,027
    From this org
    $166,379
    From related orgs
    $0
    Other
    $18,648
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $162,279
    Bonus
    $4,100
    Other
    $0
    Deferred
    $8,303
    Nontaxable benefits
    $10,345
    Filer's total
    $185,027

  • Molly Garrison

    DIRECTOR OF ADVANCEMENT

    Total calculated
    $184,213
    From this org
    $155,770
    From related orgs
    $0
    Other
    $28,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,692
    Bonus
    $4,078
    Other
    $0
    Deferred
    $8,258
    Nontaxable benefits
    $20,185
    Filer's total
    $184,213

  • Peter Brooks

    DIRECTOR OF UPPER SCHOOL

    Total calculated
    $136,463
    From this org
    $121,987
    From related orgs
    $0
    Other
    $14,476
    Hours/week
    40

  • Deborah Elwell Hanney

    DIRECTOR OF MIDDLE SCHOOL

    Total calculated
    $163,833
    From this org
    $130,775
    From related orgs
    $0
    Other
    $33,058
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,782
    Bonus
    $2,993
    Other
    $0
    Deferred
    $6,061
    Nontaxable benefits
    $26,997
    Filer's total
    $163,833

  • Kimberly A Lough

    DIRECTOR OF LITTLE SCHOOL

    Total calculated
    $116,750
    From this org
    $111,312
    From related orgs
    $0
    Other
    $5,438
    Hours/week
    40

  • Susan A Farnum

    DIRECTOR OF ADMISSIONS

    Total calculated
    $127,261
    From this org
    $117,010
    From related orgs
    $0
    Other
    $10,251
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE HEAD OF SCHOOL IS PROVIDED WITH A RESIDENCE ON THE UPPER TWO FLOORS OF A HOUSE THAT IS OWNED BY LINCOLN SCHOOL. THE BOTTOM FLOOR OF THE RESIDENCE IS USED BY THE HEAD TO ENTERTAIN CURRENT AND POTENTIAL STUDENTS AND THEIR FAMILIES, CONSTITUENTS OF THE SCHOOL, SUBSTANTIAL AND/OR POTENTIAL CONTRIBUTORS AND OTHERS WHO HAVE A DIRECT BUSINESS RELATIONSHIP WITH THE SCHOOL, AS WELL AS SCHOOL ACTIVITIES INCLUDING FACULTY AND/OR STAFF MEETINGS AND EVENTS. THE HOUSING BENEFIT IS TREATED AS NONTAXABLE COMPENSATION UNDER SECTION 119 OF THE INTERNAL REVENUE CODE, AS IT IS ON SCHOOL PREMISES, INCLUDED IN THE EMPLOYMENT CONTRACT, AND FOR THE CONVENIENCE OF LINCOLN SCHOOL. THE VALUE OF THE HOUSING BENEFIT OF $36,000 IS INCLUDED IN PART II, COLUMN (D) NONTAXABLE BENEFITS, FOR SOPHIE G. LAU IN CALENDAR YEAR 2022.
PART I, LINE 7
INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A DISCRETIONARY BONUS DURING CALENDAR YEAR 2022, WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN THEIR 2022 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202431289349303598

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