Better Business Bureau Report for
Lincoln Foundation, Inc.

Better Business Bureau Report issued October 2011
Better Business Bureau Report expires October 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Lincoln Foundation, Inc.
Address: 200 West Broadway, #500
  Louisville, KY 40202
Phone: 502-585-4733
Web Address: www.lincolnfdn.org
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Better Business Bureau Comments

Year, State Incorporated: 1910, Kentucky
Affiliates: None
Stated Purpose: To provide educational enrichment programs that develop and support youth in overcoming barriers to achievement.

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Evaluation Conclusions

               

Lincoln Foundation, Inc. meets the 20 Standards for Charity Accountability.
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Programs

               

The principal program service activities are non-traditional after school programs. The signature program is the Whitney M. YOUNG Scholars Program® which was created in 1990 to recruit academically talented, economically disadvantaged seventh grade students in the Louisville Metro area and over a six-year period prepares them for high school graduation and successful matriculation into post-secondary educational institutions. This goal is reached through educational clinics, parental institutes, and summer institutes. Approximately 300 students annually are served by this program.

For the fiscal year ended December 31, 2010, Lincoln Foundation, Inc.'s program expenses were:

  
Educational Programs 627,077
Other 106,817
Grants & Scholarships 68,543
Total Program Expenses: $802,437
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Governance

               

Chief Executive : Larry M. McDonald, President
Compensation*:

Chair of the Board: Gary W. Brown
Chair's Profession / Business Affiliation: Retired IBM Executive; historian; curator

Board Size: 21

Paid Staff Size: 36

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Fund Raising

               

Method(s) Used:

Methods of fund raising include invitations to fund raising events, print advertisements, television, radio, grant proposals, and internet appeals.
Fund raising costs were 25% of related contributions. (Related contributions, which totaled $528,652, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Lincoln Foundation, Inc.'s audited financial statements for the fiscal year ended December 31, 2010.

Ending net assets as reported below include $4,245,441 in unrestricted net assets, $1,544,571 in temporarily restricted net assets, and $1,267,704 in permanently restricted net assets.

Unrestricted net assets include $3,840,112 in undesignated assets, $267,000 in Board designated, endowment assets, and $138,329 in Board designated, other assets.

Total assets as reported include $752,396 invested in property and equipment, net.





Source of Funds  
Net realized & unrealized investment gains 499,086
Rental Income 404,765
Contributions 315,005
In-Kind Contributions 129,813
Investment Income 119,595
Grants 51,397
Miscellaneous 51,105
Special Events, net 32,437
Appreciation of investments held in trust by others 5,841
Program Fees 5,050
Total Income $1,614,094


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Uses of Funds as a % of Total Expenses

Programs: 74%  Fund Raising: 12%  Administrative: 14% 

Total income   $1,614,094
  Program expenses $802,437
  Fund raising expenses 130,018
  Administrative expenses 149,682
 
Total expenses   $1,082,137
Income in Excess of Expenses   531,957
Beginning net assets   6,525,759
Ending net assets   7,057,716
Total liabilities   447,969
Total assets   $7,505,685


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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