Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 07-01-2021 , and ending 06-30-2022
Name of foundation
LINCOLN INSTITUTE OF LAND POLICY
 
Number and street (or P.O. box number if mail is not delivered to street address)11010 N TATUM BLVD D101
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Phoenix, AZ85028
A Employer identification number

86-6021106
B Telephone number (see instructions)

(602) 393-4300
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$646,825,616J Accounting method:
MODIFIED CASH
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 8,757,543
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 10,623,376 10,154,661 10,623,376
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 35,109,723
b Gross sales price for all assets on line 6a 110,798,331
7 Capital gain net income (from Part IV, line 2)... 35,109,723
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 1,022,008 0 1,022,008
12 Total. Add lines 1 through 11........ 55,512,650 45,264,384 11,645,384
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,483,877 669,234 669,234 1,414,643
14 Other employee salaries and wages...... 10,978,508 0 0 10,978,508
15 Pension plans, employee benefits....... 4,543,615 113,925 113,925 4,429,690
16a Legal fees (attach schedule)......... Click to see attachment 81,083 7,234 7,234 73,849
b Accounting fees (attach schedule)....... Click to see attachment 54,197 7,823 7,823 43,374
c Other professional fees (attach schedule).... Click to see attachment 4,049,595 3,743,228 3,743,228 306,367
17 Interest............... 734,586 22,173 22,173 881,001
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,273,068 97,807 1,003 855,546
19 Depreciation (attach schedule) and depletion... Click to see attachment 960,758 28,826 28,826
20 Occupancy.............. 640,007 0 0 640,007
21 Travel, conferences, and meetings....... 1,358,449 62,870 62,870 1,295,579
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 11,792,088 62,173 1,070,551 10,721,537
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 37,949,831 4,815,293 5,726,867 31,640,101
25 Contributions, gifts, grants paid....... 70,000 70,000
26 Total expenses and disbursements. Add lines 24 and 25 38,019,831 4,815,293 5,726,867 31,710,101
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 17,492,819
b Net investment income (if negative, enter -0-) 40,449,091
c Adjusted net income (if negative, enter -0-)... 5,918,517
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,053,609 1,800,498 1,800,498
2 Savings and temporary cash investments......... 25,358,475 21,296,778 21,296,778
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 486,332,143 Click to see attachment375,636,614 375,636,614
c Investments—corporate bonds (attach schedule)....... 19,131,098 Click to see attachment16,930,721 16,930,721
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 216,168,241 Click to see attachment195,855,935 195,865,935
14 Land, buildings, and equipment: basis bullet46,148,203
Less: accumulated depreciation (attach schedule) bullet10,884,653 26,814,413 Click to see attachment35,263,550 35,263,550
15 Other assets (describe bullet) Click to see attachment27,350 Click to see attachment31,520 Click to see attachment31,520
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 774,885,329 646,815,616 646,825,616
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment34,414,693 Click to see attachment40,414,205
23 Total liabilities (add lines 17 through 22)......... 34,414,693 40,414,205
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 737,189,246 601,004,037
25 Net assets with donor restrictions............ 3,281,390 5,397,374
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 740,470,636 606,401,411
30 Total liabilities and net assets/fund balances (see instructions). 774,885,329 646,815,616
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
740,470,636
2
Enter amount from Part I, line 27a .....................
2
17,492,819
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
757,963,455
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
151,562,044
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
606,401,411
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b PUBLICLY TRADED SECURITIES P    
c CLASS ACTION SETTLEMENTS P    
d MORGAN CREEK P    
e MORGAN CREEK P    
CARLYLE P    
ECOSYSTEM II P    
ECOSYSTEM III P    
ECOSYSTEM IV P    
CARLYLE ENERGY P    
ANGELO GORDON III P    
BLACKSTONE STRATEGIC OPPORTUNITY FUND P    
ANGELO GORDON II P    
MORGAN CREEK CHINA P    
MORGAN CREEK CHINA P    
BARINGS P    
ANGELO GORDON REALTY X P    
ANGELO GORDON REALTY X P    
BARROW HANLEY P    
BARROW HANLEY P    
FUNDAMENTAL P    
UNIGESTION P    
KBI SKELLING WATER FUND P    
KBI SKELLING WATER FUND P    
ECOSYSTEM IV P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 13,310,418   16,313,704 -3,003,286
b 90,042,376   58,724,891 31,317,485
c 14,933     14,933
d 423,831     423,831
e 6,526     6,526
239,520     239,520
    252,782 -252,782
    127,911 -127,911
9,952     9,952
1,010     1,010
19,188     19,188
3,599,580     3,599,580
76,771     76,771
1,346     1,346
    222,452 -222,452
43,846     43,846
269,375     269,375
574,534     574,534
34,718     34,718
24,238     24,238
320,509     320,509
1,895     1,895
454,482     454,482
1,329,283     1,329,283
    46,868 -46,868
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -3,003,286
b       31,317,485
c       14,933
d       423,831
e       6,526
      239,520
      -252,782
      -127,911
      9,952
      1,010
      19,188
      3,599,580
      76,771
      1,346
      -222,452
      43,846
      269,375
      574,534
      34,718
      24,238
      320,509
      1,895
      454,482
      1,329,283
      -46,868
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 35,109,723
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -2,281,812
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 562,242
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 562,242
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 1,066,166
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,066,166
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 503,924
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet503,924 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletAZ, MA, DC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.LINCOLNINST.EDU
    14
    The books are in care ofbulletLINCOLN INSTITUTE OF LAND POLICY Telephone no.bullet (602) 393-4300

    Located atbullet11010 N TATUM BLVDPHOENIXAZ ZIP+4bullet85028
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
    Yes
     
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    KATHRYN J LINCOLN CHAIR & CIO/DIRECTOR
    37.50     		462,372 52,446 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    GEORGE MC CARTHY CEO AND PRESIDENT/DIRECTOR
    37.50     		486,505 58,867 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    SCOTT MC DANIEL TREAS. & DIRECTOR OF FINANCE
    37.50     		187,474 42,857 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    DIONE A ETTER thru May 2022 SECRETARY
    37.50     		163,520 36,893 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    MIMI BROWN DIRECTOR
    0.50     		3,250 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    JOHN G LINCOLN III DIRECTOR
    0.75     		4,750 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    KEVYN ORR DIRECTOR
    0.50     		4,250 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    THOMAS BECKER DIRECTOR
    1.25     		8,250 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    BRUCE LINCOLN DIRECTOR
    0.75     		4,500 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    THOMAS NECHYBA DIRECTOR
    2.00     		12,750 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    WILLIAM GOODELL DIRECTOR
    1.25     		8,750 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    RAPHAEL BOSTIC DIRECTOR
    1.00     		0 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    ANTHONY COYNE DIRECTOR
    0.75     		5,000 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    CONSTANCE MITCHELL FORD DIRECTOR
    1.00     		6,000 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    JANE CAMPBELL DIRECTOR
    0.75     		5,000 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    TIM RENJILIAN DIRECTOR
    0.75     		5,000 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    SCOTT SMITH DIRECTOR
    0.75     		4,750 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    ADRIANA SOTO DIRECTOR
    0.50     		3,000 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    SANJEEV KHAGRAM DIRECTOR
    0.25     		250 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    NANCY GIBBS DIRECTOR
    0.75     		5,500 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    LOURDES GERMAN DIRECTOR
    1.75     		11,500 0 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    MIA STEIR SECRETARY (SINCE JUNE 1 2022)
    37.50     		91,506 27,564 0
    11010 N TATUM BLVD
    PHOENIX,AZ85028
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    ZHI LIU SR. FELLOW
    37.50     		286,897 96,229 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    ROBIN HACKE E.D. - CCI
    37.50     		308,232 43,925 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    ANN W SCOTT E.D. - CGS
    37.50     		295,455 56,263 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    ARMANDO CARBONELL SR. FELLOW
    37.50     		293,490 44,569 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    JOAN YOUNGMAN SR. FELLOW
    37.50     		289,048 42,559 0
    113 BRATTLE STREET
    CAMBRIDGE,MA02138
    Total number of other employees paid over $50,000...................bullet 87
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    EAGLE CAPITAL MANAGEMENT INVESTMENT ADVICE 957,146
    499 PARK AVENUE
    NEW YORK,NY10222
    MERRILL LYNCH INVESTMENT CONSULTING 729,732
    2555 E CAMELBACK RD
    PHOENIX,AZ85016
    SANDS CAPITAL INVESTMENT ADVICE 484,879
    1101 WILSON BLVD
    ARLINGTON,VA22209
    BOSTON FOUNDATION CONSULTING 322,700
    75 ARLINGTON ST
    BOSTON,MA02116
    MT AUBURN ASSOCIATES CONSULTANT 276,557
    700 CHILDRENS DRIVE
    COLUMBUS,OH43205
    Total number of others receiving over $50,000 for professional services.............bullet67
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 REDUCED POVERTY AND SPATIAL INEQUALITY - Better access to opportunity means better outcomes--at the individual and collective levels--and land policy can be a crucial lever in achieving that. In the United States and elsewhere, we must grapple with our histories of racial and class oppression, persistent segregation, and inequitable access to resources and opportunities. Our work seeks to address these challenges by expanding access to thriving neighborhoods and cities, and creating new opportunities in those that are struggling. 8,699,512
    2 SUSTAINABLY MANAGED LAND AND WATER RESOURCES - The most basic of natural resources, land and water are the foundation of civilization. Through international networks and cutting-edge research, we strive toward greater land stewardship and coordinated land and water decisions. 5,467,788
    3 LOW CARBON CLIMATE-RESISTANT COMMUNITIES AND REGIONS - Land and water policy can shape the built and natural environment to reduce the extent of climate change and to help communities and natural systems withstand the impacts of a warmer climate. The Lincoln Institute is advancing good planning practices to address these challenges, and aspires to foster climate justice as a key element of this work. 3,995,567
    4 EFFICIENT AND EQUITABLE TAX SYSTEMS - Tax systems are the engine for public action, providing resources needed to promote and improve civic well-being. An efficient tax system raises revenue while minimizing unintended consequences, and an equitable tax system imposes obligations on taxpayers in proportion to their resources. 3,125,305
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    713,431,876
    b
    Average of monthly cash balances.......................
    1b
    3,493,067
    c
    Fair market value of all other assets (see instructions)................
    1c
    652,353
    d
    Total (add lines 1a, b, and c).........................
    1d
    717,577,296
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    717,577,296
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    10,763,659
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    706,813,637
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    35,340,682
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
     
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7  
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$  
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2021.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
    2006-11-01
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
    5,918,517 14,264,643 7,840,832 5,947,104 33,971,096
    b 85% (0.85) of line 2a ......... 5,030,739 12,124,947 6,664,707 5,055,038 28,875,432
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		40,943,792 32,346,039 29,094,924 27,449,309 129,834,064
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		0 0 0 0 0
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		40,943,792 32,346,039 29,094,924 27,449,309 129,834,064
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......         0
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		23,560,455 21,987,504 18,938,213 18,863,402 83,349,574
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ANNA MARIA BIERBRAUER
    2962 PERRY STREET
    DENVER,CO80212     		NONE I WATER CONSERVATION, URBAN HEAT ISLANDS AND EQUITY IN WESTERN USA 10,000
    MARISSA MANHEIM
    14 WEST ERIE DRIVE
    TEMPE,AZ85282     		NONE I PLANNING FOR POTABLE REUSE OF WASTEWATER IN ARIZONA 10,000
    ZHACHENG WANG
    8630 EAST NARANJA AVENUE
    MESA,AZ85209     		NONE I MONITOR CROPLAND RESPONSE TO WATER SHORTAGE 10,000
    HANA MOIDU
    1509 GRANT STREET APT D
    BERKELEY,CA94703     		NONE I SPATIOTEMPORAL DYNAMICS OF INTERMITTENT STREAMS ROLE AS AQUATIC REFUGIA 10,000
    ECHAVARRIA CANALES
    1332 FRANKLIN STREET
    SANTA MONICA,CA90404     		NONE I CITIZEN SUPPORT OF LOCAL PROPERTY TAX IN GUATEMALA 10,000
    ANNA ZIFF
    209 CALHOUN STREET APT 202
    CLEMSON,SC29631     		NONE I EASSAYS IN PLACE-BASED ECONOMIC DEVELOPMENT 10,000
    SIMONE PACI
    200 WEST 119TH STREET 6
    NEW YORK,NY10026     		NONE I HOW PROPERTY TAX EQUITY PROTECTS PROGRESSIVE NORMS 10,000
    Total .................................bullet 3a 70,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 35,109,723  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 45,733,099 1,022,008
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    46,755,107
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    1A SALES OF SCHOLARLY PUBLICATIONS IN VARIOUS PROGRAM AREAS
    1B CONTRACT SERVICES FOR LINCOLN PROGRAM EXPERTISE
    1C EVENT COSTS REIMBURSED
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    LINCOLN INSTITUTE OF LAND POLICY
     
    Employer identification number

    86-6021106
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    LINCOLN INSTITUTE OF LAND POLICY
          		Employer identification number
    86-6021106
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Catena Fundation Inc
     
    PO BOX 994
     
    CARBONDALE, CO81623

    		$ 121,140


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    Walton Family Foundation
     
    PO BOX 2030
     
    BENTONVILLE, AR72712

    		$ 250,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    Highstead Foundation
     
    PO BOX 1097
     
    REDDING, CT06875

    		$ 70,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    Robert Wood Johnson Foundation
     
    50 COLLEGE ROAD EAST
     
    PRINCETOWN, NJ08540

    		$ 3,529,762


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    NeighborWorks America
     
    999 NORTH CAPITOL ne
     
    WASHINGTON, DC20002

    		$ 100,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    The 1772 Foundation
     
    21 MEETING STREET
     
    PROVIDENCE, RI02903

    		$ 15,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Name of organization
    LINCOLN INSTITUTE OF LAND POLICY
          		Employer identification number
    86-6021106
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
    Enterprise Community Partners Inc
     
    11000 BROKEN LAND PARKWAY NO 700
     
    COLUMBIA, MD21044

    		$ 100,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
    Kresge Foundation
     
    3215 WEST BIG BEAVER ROAD
     
    TROY, MI48084

    		$ 1,200,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    9
    JP Morgan Foundation
     
    601 PENNSYLVANIA AVENUE NW
     
    WASHINGTON, DC20004

    		$ 2,500,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    10
    Heron Foundation
     
    PO BOX 996
     
    NEW MILFORD, CT06776

    		$ 150,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    11
    California Endowment
     
    5060 SHOREHAM PL
     
    SAN DIEGO, CA92122

    		$ 175,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    12
    The Nature Conservancy
     
    1819 E MORTEN AVENUE
     
    PHOENIX, AZ85020

    		$ 40,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Name of organization
    LINCOLN INSTITUTE OF LAND POLICY
          		Employer identification number
    86-6021106
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    13
    Arizona Community Foundation
     
    2201 E CAMELBACK RD
     
    PHOENIX, AZ85016

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    14
    Natural Resources Defense Council
     
    1314 2ND STREET
     
    SANTA MONICA, CA90401

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    15
    The TRowe Price Program for Charitable Giving
     
    PO BOX 17115
     
    BALTIMORE, MD21297

    		$ 450,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    16
    State of Colorado
     
    1700 Broadway
     
    Denver, CO80290

    		$ 6,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    17
    Department of the Interior Bureau of Reclamation
     
    1849 C St NW
     
    Washington, DC20240

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    LINCOLN INSTITUTE OF LAND POLICY
          		Employer identification number

    86-6021106
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    LINCOLN INSTITUTE OF LAND POLICY
          		Employer identification number

    86-6021106
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT FEES 54,197 7,823 7,823 43,374

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 DepreciationSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    LAND AND BUILDINGS, BRATTLE STREET, CAMBRIDGE   14,947,382 7,352,216 VAR 0 % 0 0 0  
    FURNITURE   1,332,346 545,520 VAR 0 % 0 0 0  
    OFFICE CONDO - PHOENIX   6,230,527 1,532,238 VAR 0 % 0 0 0  
    PHILLIPS PLACE, CAMBRIDGE - LAND   2,500,000   VAR 0 % 0 0 0  
    PHILLIPS PLACE, CAMBRIDGE - BUILDINGS & IMPROVEMENTS   5,154,150 1,454,679 VAR 0 % 0 0 0  
    ARTWORK - BRATTLE   141,616   VAR 0 % 0 0 0  
    CAMBRIDGE OFFICE RENOVATION   15,548,562   VAR 0 % 0 0 0  
    CAPITALIZED INTEREST - OFFICE RENO   206,335   VAR 0 % 0 0 0  
    ARTWORK - PHOENIX   87,285   VAR 0 % 0 0 0  

    TY 2021 GeneralExplanationAttachment
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Identifier Return Reference Explanation
    GRANTS AND CONTRIBUTIONS PAID DURING THE YEAR 990PF PART XV PROGRAM RELATED GRANTS PAID DURING THE YEAR REPRESENT FELLOWSHIPS/DISSERTATIONS/RFP'S OF $10,000 OR MORE FOR WHICH THE INSTITUTE MAINTAINS ACTIVE INVOLVEMENT.AMOUNTS UNDER $10,000 ARE INCLUDED IN STATEMENT 8.FOR INFORMATION REGARDING FELLOWSHIPS/DISSERTATIONS/RFP'S INCLUDING APPLICATIONS, SUBMISSIONS AND DEADLINES, PLEASE SEE WWW.LINCOLNINST.EDU.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 16,930,721 16,930,721

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Name of Stock End of Year Book Value End of Year Fair Market Value
    800277 shs LINCOLN ELEC HLDGS INC 98,722,171 98,722,171
    DOMESTIC EQUITIES 215,737,477 215,737,477
    INTERNATIONAL EQUITIES 61,176,966 61,176,966

    TY 2021 InvestmentsOtherSchedule2
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    RESIDUAL INVESTMENTS ARDEN SAGE ACCOUNT FMV 51,323 51,323
    CARLYLE PARTNERS FMV 508,920 508,920
    MORGAN CREEK PARTNERS FMV 2,241,363 2,241,363
    ECO SYSTEM PARTNERS FMV 13,908,145 13,908,145
    BEACH POINT TOTAL RETURN OFFSHORE FUND II LTD FMV 12,033,038 12,033,038
    NUVEEN GLOBAL EMERGING MARKETS FMV 26,897,205 26,897,205
    BARROW HANLY BOND FUND FMV 2,787,273 2,787,273
    SKYBRIDGE FMV 10,273,163 10,273,163
    BLACKSTONE STRATEGIC OFFSHORE FMV 17,221,823 17,221,823
    BLACKSTONE CAYMAN FMV 9,819,057 9,819,057
    CARLYLE ENERGY FMV 11,429,661 11,429,661
    NEOMA ABRAAJ GROWTH FMV 5,084,902 5,094,902
    INVESTEC FMV 1,893,551 1,893,551
    MUTUAL FUNDS FOR 457 PLAN FMV 372,492 372,492
    AG DLI II FMV 4,408,355 4,408,355
    AG DL III FMV 7,109,835 7,109,835
    INTERNATIONAL HOUSING FMV 3,426,675 3,426,675
    MORGAN CREEK CHINA FUND FMV 4,995,014 4,995,014
    KBI WATER FUND FMV 10,954,418 10,954,418
    BARINGS FMV 6,491,366 6,491,366
    LEVINE LEICHTMAN FMV 10,445,210 10,445,210
    BLACKSTONE SECONDARIES FMV 9,067,286 9,067,286
    AG REALTY FMV 9,320,540 9,320,540
    UNIGESTION FMV 7,641,267 7,641,267
    KAIROS FMV 2,750,303 2,750,303
    SILVER LAKE FMV 3,727,890 3,727,890
    LLCPIII FMV 995,860 995,860

    TY 2021 LandEtcSchedule2
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND AND BUILDINGS, BRATTLE STREET, CAMBRIDGE 14,947,382 7,352,216 7,595,166  
    FURNITURE 1,332,346 545,520 786,826  
    OFFICE CONDO - PHOENIX 6,230,527 1,532,238 4,698,289  
    PHILLIPS PLACE, CAMBRIDGE - LAND 2,500,000 0 2,500,000  
    PHILLIPS PLACE, CAMBRIDGE - BUILDINGS & IMPROVEMENTS 5,154,150 1,454,679 3,699,471  
    ARTWORK - BRATTLE 141,616 0 141,616  
    CAMBRIDGE OFFICE RENOVATION 15,548,562 0 15,548,562  
    CAPITALIZED INTEREST - OFFICE RENO 206,335 0 206,335  
    ARTWORK - PHOENIX 87,285 0 87,285  


    TY 2021 LegalFeesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 81,083 7,234 7,234 73,849


    TY 2021 OtherAssetsSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    HEALTH INSURANCE DEPOSIT 27,350 31,520 31,520


    TY 2021 OtherDecreasesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description Amount
    CHANGE IN UNREALIZED APPRECIATION FOR YEAR NET OF TAX 151,562,044


    TY 2021 OtherExpensesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RESEARCH AND RFPS 2,626,098 0 984,373 1,641,725
    DISSEMINATION 1,157,499 0 24,005 1,133,494
    GENERAL OFFICE 193,052 62,173 62,173 130,879
    INSURANCE 293,641 0 0 293,641
    PROGRAM DEVELOPMENT 3,879,720 0 0 3,879,720
    OTHER STAFFING 239,556 0 0 239,556
    NETWORKS 1,198,020 0 0 1,198,020
    INFORMATION TECHNOLOGY 608,616 0 0 608,616
    COURSES 1,595,886 0 0 1,595,886


    TY 2021 OtherIncomeSchedule2
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PUBLICATIONS 24,005   24,005
    CONTRACTS 984,373   984,373
    EVENTS 13,630   13,630


    TY 2021 OtherLiabilitiesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Description Beginning of Year - Book Value End of Year - Book Value
    REVOLVING LOAN ACCOUNT 30,683,572 38,825,555
    DEFERRED EXCISE TAX 3,731,121 1,588,650


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISORY FEES 3,013,446 3,013,446 3,013,446 0
    INVESTMENT CONSULTANT 729,782 729,782 729,782 0
    CONSULTING 306,367 0 0 306,367


    TY 2021 TaxesSchedule
    Name:
    LINCOLN INSTITUTE OF LAND POLICY
    EIN:
    86-6021106
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 96,804 96,804 0 0
    PROPERTY TAXES 81,553 1,003 1,003 80,550
    FEDERAL UBIT 319,715 0 0 0
    FEDERAL EXCISE 774,996 0 0 774,996