Lincoln University Aka Lincoln College

Nonprofit profile at a glance

EIN
370661227
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lincoln, IL, USA
Phone
2177323155
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community or Junior Colleges

Official website

Reported finances

Revenue
$1,499,772
Expenses
$3,503,896
Assets
$36,321,588
Liabilities
$1,523,443

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • DAVID M GERLACH PHD (PRESIDENT (DEC'D 3/29/25))

Highest reported compensation

  • TIFFANY WORTH (V.P. FOR FINANCE): $179,342 total reported compensation
  • DAVID M GERLACH PHD (PRESIDENT (DEC'D 3/29/25)): $50,489 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lincoln college uniquely empowers students to realize their full potential

What it reported doing in 2024

Lincoln college - operated as a college level academic program through may 13, 2022 when the board of trustees voted to cease all academic programming. Even though the college has ceased teaching operations, it is still in the process of winding up its operations and carrying out educational-related functions (such as transitioning students to other colleges, operating the lincoln heritage museum with frequent educational programs, safeguarding college property and endowment with the goal of transferring it to another educational or not-for-profit entity, etc.). The museum continues to operate on a daily basis providing educational opportunities for the local school districts and daily tours to the community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 84
  • Accountability: 77
  • Sustainability: 40
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 9.7%; rating input score 10
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -133.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 10.37; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: -12.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -8.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -4.1% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 9.7% of spending went to programs
  • Governance: 24 of 24 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $340K in reported program spending
  • Leadership: top reported pay $179K · 27 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $226K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Program expense ratio scored 10/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.