Lincoln Foundation in Louisville, Kentucky (KY)

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Lincoln Foundation
Employer Identification Number (EIN)610449631
Name of OrganizationLincoln Foundation
Address200 W Broadway Ste 500, Louisville, KY 40202-2125
ActivitiesSupplying money, goods or services to the poor
SubsectionCharitable Organization
Ruling Date01/1993
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,619,798
Amount of Income$3,303,494
Form 990 Revenue Amount$1,315,039
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Educational Services and Schools - Other


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Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420062007
Total revenue$1,506,153$1,691,227$1,723,010$2,236,709$1,101,779$1,198,070$1,406,021
Contributions, gifts, grants, and similar amounts received$831,104$1,136,266$834,155$584,423$545,069$558,024$550,090
Contributions to donor advised funds$0$0
Direct public support$357,692$1,136,266$378,457$425,526$478,724$514,661$503,644
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$473,412$0$455,698$158,897$66,345$43,363$46,446
Program service revenue including government fees and contracts$162,396$170,272$643,434$353,992$347,323$363,535$374,533
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$154,037$0$0$0$0$0$0
Dividends and interest from securities$57,439$164,838$145,350$182,097$177,547$211,153$231,608
Net rental income or (loss)$0$21,056$16,049$28,583$37,650$19,569$14,003
Gross rents$0$21,056$16,049$28,583$37,650$19,569$14,003
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$252,662$120,424$17,525$1,044,785$31,123$45,035$219,518
Gross amount from sales of assets other than inventory$1,039,494$1,825,135$507,857$3,557,530$1,129,749$1,192,204$3,023,684
Less: cost or other basis and sales expenses$786,832$1,704,711$490,332$2,512,745$1,098,626$1,147,169$2,804,166
Net income or (loss) from special events and activities$48,515$78,371$66,497$42,829$-45,193$-26,780$-9,770
Gross revenue$150,016$165,582$123,962$92,150$12,981$3,745$3,195
Less: direct expenses other than fundraising expenses$101,501$87,211$57,465$49,321$58,174$30,525$12,965
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$8,260$27,534$26,039
Total expenses$1,415,332$1,745,598$1,387,009$1,117,425$906,682$967,175$1,153,972
Program services$979,913$781,750$686,538$576,848$566,390$664,368$610,999
Management and general$435,419$903,139$614,446$434,687$247,164$188,446$406,529
Fundraising$0$60,709$86,025$105,890$93,128$114,361$136,444
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$6,033,376$5,643,816$5,598,632$5,987,134$6,275,550$7,328,934$7,602,482
Excess or (deficit) for the year$90,821$-54,371$336,001$1,119,284$195,097$230,895$252,049
Net assets or fund balances at beginning of year$6,123,382$6,033,376$5,643,816$5,598,632$5,987,134$6,628,987$7,328,934
Other changes in net assets or fund balances$-180,827$-335,189$-381,185$-730,782$93,319$469,052$21,499
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,153,972$610,999$406,529$136,444
Grants paid from donor advised funds$0
Other grants and allocations$54,150
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$316,368$174,306$43,297$98,765
Compensation of former officers, directors, key employees, etc.$217,815$0$217,815$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$195,731$145,117$31,873$18,741
Pension plan contributions not included above$6,861$733$644$5,484
Employee benefits not included above$29,622$21,828$6,030$1,764
Payroll taxes$30,201$22,549$864$6,788
Professional fundraising fees$0$0$0$0
Accounting fees$14,000$6,230$7,770$0
Legal fees$8,491$6,230$2,261$0
Supplies$14,342$9,257$5,085$0
Telephone$10,278$5,492$4,786$0
Postage and shipping$3,404$1,878$1,526$0
Occupancy$41,661$22,946$18,715$0
Equipment rental and maintenance$13,078$9,787$3,291$0
Printing and publications$9,643$6,569$3,074$0
Travel$1,529$1,477$52$0
Conferences, conventions, and meetings$2,876$2,429$447$0
Interest$0$0$0$0
Depreciation, depletion, etc.$26,569$20,004$6,565$0
Other expenses not covered above$157,353$100,017$52,434$4,902
Balance Sheets
2000200120022003200420062007
Total assets$6,195,606$6,044,108$5,915,724$6,228,908$6,449,504$7,507,715$7,966,156
Cash - non-interest-bearing$89,320$92,753$442,254$291,001$370,242$805,155$656,937
Savings and temporary cash investments$0$0$0$0$0$0$7,257
Accounts receivable less allowance for doubtful accounts$61,831$98,122$27,525$64,566$46,232$35,528$51,202
Pledges receivable less allowance for doubtful accounts$0$56,599$0$0$50,000$48,850$48,225
Grants receivable$0$30,921$49,203$22,118$2,450$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$1,470$29,412$4,083$15,403$18,194$11,952$7,838
Investments - publicly-traded securities$5,698,107$6,161,470
Investments - other securities$0$4,966,092$4,585,006$5,007,729$5,152,050$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$289,596
Investments - other$5,695,624$232,295$293,183$383,057$418,686$591,312$738,947
Land, buildings, and equipment less accumulated depreciation$326,940$537,914$514,470$444,426$391,650$316,811$0
Other assets, including program-related investments$20,421$0$0$608$0$0$4,684
Total liabilities$162,230$400,292$317,092$241,774$173,954$178,781$363,674
Accounts payable and accrued expenses$104,746$209,779$118,265$68,998$45,226$55,898$59,588
Grants payable$0$0$0$0$0$0$0
Deferred revenue$57,484$17,180$32,095$22,850$7,665$41,667$43,470
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$173,333$166,732$149,926$121,063$81,216$260,616
Total liabilities and net assets/fund balances$6,195,606$6,044,108$5,915,724$6,228,908$6,449,504$7,507,715$7,966,156
Total net assets or fund balances$6,033,376$5,643,816$5,598,632$5,987,134$6,275,550$7,328,934$7,602,482
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420062007
Total revenue$1,506,153$1,691,227$1,723,010$2,236,709$1,101,779$1,198,070$1,406,021
Total revenue, gains, and other support per audited financial statements$1,512,060$1,629,114$1,433,132$1,598,398$1,302,243$1,778,747$1,510,162
Other expenses$5,907$-62,113$-289,878$-638,311$200,464$607,657$132,466
Net unrealized gains on investments$-95,594$-208,763$-375,959$-737,720$92,638$466,580$21,499
Donated services and use of facilities$0$61,950$33,842$43,150$48,971$108,080$98,002
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$101,501$84,700$52,239$56,259$58,855$32,997$12,965
Other revenue$0$0$0$0$0$26,980$28,325
Investment expenses$0$0$0$0$0$0$28,325
Other$0$0$0$0$0$26,980$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420062007
Total expenses$1,415,332$1,745,598$1,387,009$1,117,425$906,682$967,175$1,153,972
Total expenses and losses per audited financial statements$1,516,833$1,894,759$1,478,316$1,209,896$1,013,827$1,078,800$1,236,614
Other revenue$101,501$149,161$91,307$92,471$107,145$138,605$110,967
Donated services and use of facilities$0$61,950$33,842$43,150$48,971$108,080$98,002
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$101,501$87,211$57,465$49,321$58,174$30,525$12,965
Other expenses$0$0$0$0$0$26,980$28,325
Investment expenses$0$0$0$0$0$0$28,325
Other$0$0$0$0$0$26,980$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$157,561$3,626$0
40$84,034$2,186$0
40$67,000$1,961$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings18
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$22,400$195,415$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200629
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$465,129$390,802
Program service revenue
Program service revenue 1000000$000$0$10,534
Program service revenue 2000000$000$0$363,999
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$231,608$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$14,003$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$219,518$0
Net income or (loss) from special events000000$000$0$-9,770
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$26,039
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
1999200020012002200320052006
Total$1,141,881$1,173,711$1,342,875$1,212,381$1,231,289$859,173$1,179,272
Gifts, grants, and contributions received$760,882$812,219$1,012,455$943,069$574,467$479,282$566,880
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$152,027$150,016$165,582$123,962$446,142$240,613$363,535
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$181,619$211,476$164,838$145,350$210,680$139,278$221,323
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$47,353$0$0$0$0$0$27,534
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,030,641
Contributions, Gifts, Grants and Other Similar Amounts$326,422
Program Service Revenue$401,658
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$151,976
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$38,772
Gross rents (Real / Personal)$38,772 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$38,772 / $0
Net gain from sales of assets other than inventory$91,708
Gross amount from sales of assets other than inventory (Securities / Other)$1,542,863 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,451,155 / $0
Gain or (loss) (Securities / Other)$91,708 / $0
Net loss from fundraising events$-15,065
Gross income from fundraising events$6,260
Less: direct expenses$21,325
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$35,170
Statement of Functional Expenses (for 2011)
Total functional expenses$1,045,123
Compensation of current officers, directors, trustees, and key employees$303,454
Other salaries and wages$277,652
Payroll taxes$38,265
Professional fundraising services$0
Other$425,752
Balance Sheet (for 2011)
Total assets$7,589,959
Total liabilities$383,980
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$383,980
Total net assets or fund balances$7,205,979
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$3,206,228
Gifts, grants, contributions, and membership fees received$2,201,017
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,005,211
Gross receipts from related activities, etc.$1,971,615
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