Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 07-01-2024 , and ending 06-30-2025
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 right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$808,637,838J Accounting method:
 
(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) 2,764,729
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 16,677,994 14,930,521 16,677,994
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 57,904,192
b Gross sales price for all assets on line 6a 57,904,192
7 Capital gain net income (from Part IV, line 2)... 57,904,192
8 Net short-term capital gain......... 6,533,411
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
List of Attached Documents:
// Content
2,072,490 87,323 2,072,490
12 Total. Add lines 1 through 11........ 79,419,405 72,922,036 25,283,895
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 2,861,907 1,288,461 1,288,461 1,483,196
14 Other employee salaries and wages...... 13,178,379 0 0 12,679,191
15 Pension plans, employee benefits....... 11,389,773 0 0 6,299,692
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
52,146 6,336 6,336 45,811
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
221,787 39,887 39,887 181,900
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
20,873,527 7,417,656 7,417,656 15,221,997
17 Interest............... 1,468,441 93,200 93,200 1,375,240
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,224,766 105,420 105,420 1,347,151
19 Depreciation (attach schedule) and depletion... 1,435,012 91,078 91,078
20 Occupancy.............. 1,094,914 62,841 62,841 905,179
21 Travel, conferences, and meetings....... 3,612,981 149,572 149,572 3,438,581
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,747,019 105,354 105,354 3,797,924
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 61,160,652 9,359,805 9,359,805 46,775,862
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 61,160,652 9,359,805 9,359,805 46,775,862
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 18,258,753
b Net investment income (if negative, enter -0-) 63,562,231
c Adjusted net income (if negative, enter -0-)... 15,924,090
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 1,576,002 4,783,428 4,783,428
2 Savings and temporary cash investments......... 10,532,136 28,456,550 28,456,550
3 Accounts receivable right arrow1,256,720
Less: allowance for doubtful accounts right arrow   802,946 1,256,720 1,256,720
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable................. 1,046,926 1,348,269 1,348,269
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 444,285 706,933 706,933
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 500,504,578 Click to see attachment
List of Attached Documents:
// Content
494,481,506 		494,481,506
c Investments—corporate bonds (attach schedule)....... 19,181,490 Click to see attachment
List of Attached Documents:
// Content
19,514,259 		19,514,259
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 198,799,115 Click to see attachment
List of Attached Documents:
// Content
225,703,286 		225,703,286
14 Land, buildings, and equipment: basis right arrow46,340,217
Less: accumulated depreciation (attach schedule) right arrow14,904,917 32,851,412 Click to see attachment
List of Attached Documents:
// Content
31,435,300 		31,435,300
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
8,625,633 		Click to see attachment
List of Attached Documents:
// Content
951,587 		Click to see attachment
List of Attached Documents:
// Content
951,587
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 774,364,523 808,637,838 808,637,838
Liabilities 17 Accounts payable and accrued expenses.......... 2,914,949 4,931,032
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
49,120,008 		Click to see attachment
List of Attached Documents:
// Content
54,338,445
23 Total liabilities (add lines 17 through 22)......... 52,034,957 59,269,477
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 720,575,544 747,584,290
25 Net assets with donor restrictions............ 1,754,022 1,784,071
Foundations that do not follow FASB ASC 958, check here right arrow
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)..... 722,329,566 749,368,361
30 Total liabilities and net assets/fund balances (see instructions). 774,364,523 808,637,838
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
722,329,566
2
Enter amount from Part I, line 27a .....................
2
18,258,753
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
8,871,300
4
Add lines 1, 2, and 3 ..........................
4
749,459,619
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
91,258
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
749,368,361
Form 990-PF (2024)
Form 990-PF (2024)
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 (SHORT)      
b PUBLICLY TRADED SECURITIES (LONG)      
c
d
e
(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 6,533,411     6,533,411
b 51,370,781     51,370,781
c
d
e
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       6,533,411
b       51,370,781
c
d
e
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 57,904,192
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 6,533,411
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 right arrow 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) 1 883,515
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........................... 3 883,515
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- ..... 5 883,515
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 775,027
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 400,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,175,027
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 14,088
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 277,424
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow277,424 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowAZ, 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 2024 or the taxable year beginning in 2024? 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
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 addressright arrowWWW.LINCOLNINST.EDU
14
The books are in care ofright arrowVINOD PARMESHWAR CFO Telephone no.right arrow (602) 393-4300

Located atright arrow11010 N TATUM BLVD D101PHOENIXAZ ZIP+4right arrow85028
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, 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 right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
GEORGE MCCARTHY CEO & PRESIDENT/ DIRECTOR
37.50 		589,322 95,887 0
113 BRATTLE STREET
CAMBRIDGE,MA02138
WILLIAM GOODELL CIO
37.50 		451,683 67,975 0
11010 N TATUM BLVD
PHOENIX,AZ85028
KATHRYN J LINCOLN CHAIR & CIO/DIRECTOR
37.50 		440,957 39,522 0
11010 N TATUM BLVD
PHOENIX,AZ85028
VINOD PARMESHWAR TREAS. & CFO-CHRO
37.50 		301,555 82,952 0
113 BRATTLE STREET
CAMBRIDGE,MA02138
LIZZIE KAZAN ASSISTANT TREAS. & DIRECTOR OF FINANCE
37.50 		192,727 43,223 0
11010 N TATUM BLVD
PHOENIX,AZ85028
AMELIA STIER SECRETARY DIRECTOR OF BOARD & INVESTMENT MGMT
37.50 		141,962 39,862 0
11010 N TATUM BLVD
PHOENIX,AZ85028
CAROLINA BARCO DIRECTOR
1.80 		16,500 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
THOMAS BECKER DIRECTOR
3.20 		32,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
JANE CAMPBELL DIRECTOR (UNTIL APRIL 2025)
2.00 		23,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
PETER CULP DIRECTOR
2.40 		17,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
CONSTANCE MITCHELL FORD DIRECTOR (UNTIL MAY 2025)
2.10 		17,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
NANCY GIBBS DIRECTOR
2.80 		21,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
TZU-CHIN LIN DIRECTOR
1.90 		16,500 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
BRUCE LINCOLN DIRECTOR
2.20 		21,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
JOHN G LINCOLN III DIRECTOR
1.90 		14,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
THOMAS NECHYBA DIRECTOR
3.80 		30,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
KEVYN ORR DIRECTOR
3.10 		18,500 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
TIM RENJILIAN DIRECTOR
3.40 		32,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
SCOTT SMITH DIRECTOR
1.80 		15,000 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
RAPHAEL BOSTIC DIRECTOR
0.50 		0 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
KAREN SCHAEFFER DIRECTOR
3.20 		25,500 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
CHARLA GRIFFY-BROWN DIRECTOR (FROM APRIL 2025)
0.00 		0 0 0
11010 N TATUM BLVD
PHOENIX,AZ85028
OTIS MOSS DIRECTOR (FROM APRIL 2025)
0.00 		0 0 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 EXEC. DIR. - CHINA P
37.50 		333,093 72,956 0
11010 N TATUM BLVD
PHOENIX,AZ85028
JOAN M YOUNGMAN EXEC. DIR. - LAND &
37.50 		344,260 60,156 0
11010 N TATUM BLVD
PHOENIX,AZ85028
ANNE W SCOTT EXEC. DIR. - CTR FOR
37.50 		330,121 62,737 0
11010 N TATUM BLVD
PHOENIX,AZ85028
ENRIQUE R SILVA CHIEF PROGRAM OFFICE
37.50 		301,975 61,283 0
11010 N TATUM BLVD
PHOENIX,AZ85028
KATIE GRACE DEANE COO
37.50 		279,566 39,219 0
11010 N TATUM BLVD
PHOENIX,AZ85028
Total number of other employees paid over $50,000...................right arrow 95
Form 990-PF (2024)
Form 990-PF (2024)
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
MERRILL LYNCH INVESTMENT CONSULTING 686,764
2555 E CAMELBACK RD
PHOENIX,AZ85016
EAGLE CAPITAL MANAGEMENT INVESTMENT ADVICE 610,162
499 PARK AVENUE
NEW YORK,NY10222
GRANITE INVESTMENT MANAGEMENT 253,430
1100 W ST GERMAIN ST
ST CLOUD,MN56301
SANDS CAPITAL INVESTMENT ADVICE 244,518
1101 WILSON BLVD
ARLINGTON,VA22209
SANTA BARBARA INVESTMENT MANAGEMENT 230,751
2020 ALAMEDA PADRE SERARRA
SANTA BARBARA,CA93103
Total number of others receiving over $50,000 for professional services.............right arrow52
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 CLAREMONT LINCOLN UNIVERSITY: THE INSTITUTE PROVIDES FINANCIAL AND PROGRAMMATIC SUPPORT TO SUSTAIN AND EXPAND EDUCATIONAL OFFERINGS. 11,210,422
2 CROSS CUTTING PROGRAMS: THROUGH OUR RESEARCH AND CROSS-CUTTING INITIATIVES (RXI) WORK, WE AIM TO PROMOTE THE CONCEPTUALIZATION, DESIGN, AND IMPLEMENTATION OF RESEARCH-INFORMED PRACTICE ACROSS A VARIETY OF PROGRAM AREAS, INCLUDING HOUSING, PLANNING, AND LAW. WE WORK WITH OUR STAFF AND EXTERNAL PARTNERS TO USE THIS RESEARCH TO STRENGTHEN OUR OVERALL KNOWLEDGE BASE AND TO PUT OUR LEARNINGS INTO ACTION. 7,759,333
3 LAND & FISCAL SYSTEMS: PROSPEROUS CITIES AND REGIONS PROVIDE ESSENTIAL PUBLIC GOODS AND SERVICES THROUGH COORDINATED LAND USE PLANNING AND PUBLIC FINANCE. OUR WORK SEEKS TO EXPAND ACCESS TO THRIVING CITIES TO CREATE NEW OPPORTUNITIES. 6,393,241
4 LAND & WATER: 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 TO ENSURE A LIVABLE FUTURE. 5,175,480
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.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
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
552,516,636
b
Average of monthly cash balances.......................
1b
26,721,033
c
Fair market value of all other assets (see instructions)................
1c
184,802,935
d
Total (add lines 1a, b, and c).........................
1d
764,040,604
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
764,040,604
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
11,460,609
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
752,579,995
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
37,629,000
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 2024 from Part V, line 5 .......
2a
 
b
Income tax for 2024. (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
46,775,862
b
Program-related investments—total from Part VIII-B..................
1b
0
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
46,775,862
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7  
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$  
a Applied to 2023, 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 2024 distributable amount.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2024.    
(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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		 
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 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, enter the date of the ruling ...... right arrow
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
15,924,090 12,794,754 9,604,384 5,918,517 44,241,745
b 85% (0.85) of line 2a ......... 13,535,477 10,875,541 8,163,726 5,030,739 37,605,483
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		46,775,862 39,533,468 41,732,550 40,943,792 168,985,672
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 .... 		46,775,862 39,533,468 41,732,550 40,943,792 168,985,672
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 .. 		25,086,000 23,558,577 21,240,521 23,560,455 93,445,553
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 right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
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 (2024)
Form 990-PF (2024)
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
Total .................................right arrow 3a 0
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
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
aPUBLICATIONS         29,985
bCONTRACT REVENUE         1,870,714
cEVENTS         84,468
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 .... 523000 84,970 14 16,593,024  
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 57,904,192  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INVESTMENT RELATED INCOME 		    14 87,323  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 84,970 74,584,539 1,985,167
13Total. Add line 12, columns (b), (d), and (e)..................
13
76,654,676
(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 (2024)
Form 990-PF (2024)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
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
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
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
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
LINCOLN INSTITUTE OF LAND POLICY
  		Employer identification number
86-6021106
Part I
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
BOISE STATE UNIVERSITY
 
1910 UNIVERSITY DRIVE
 
BOISE, ID83725

$ 10,173


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
PLANET WOMEN
 
9760 COPPERTOP LOOP
 
BAINBRIDGE ISLAND, WA98110

$ 45,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
ROBERT WOOD JOHNSON
 
50 COLLEGE ROAD EAST
 
PRINCETON, NJ08540

$ 689,851


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
4
THE PEW CHARITABLE TRUST
 
25 MARKET STREET
 
PHILADELPHIA, PA19103

$ 90,707


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
5
UNIVERSITY OF PITTSBURGH
 
300 MURDC 3420 FORBES AVE
 
PITTSBURGH, PA15260

$ 21,845


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
6
US BUREAU OF RECLAMATION
 
PO BOX 25007
 
DENVER, CO80225

$ 347,832


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
LINCOLN INSTITUTE OF LAND POLICY
  		Employer identification number
86-6021106
Part I
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
US GEOLOGICAL SURVEY
 
NATIONAL CENTER 12201 SUNRISE VALLE
 
RESTON, VA20192

$ 362,112


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
8
ARC SOLUTIONS
 
23564 CALABASAS RD STE 201
 
CALABASAS, CA91302

$ 20,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
9
CASCADE LOANS
 
PO BOX 15035
 
CHANDLER, AZ85244

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
10
ENTERPRISE COMMUNITY PARTNERS INC
 
11000 BROKEN LAND PARKWAY STE 700
 
COLUMBIA, MD21044

$ 120,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
11
FIDELITY CHARITABLE
 
PO BOX 770001
 
CINCINNATI, OH45277

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
12
GREATER KANSAS CITY COMMUNITY FOUNDATION
 
1055 BROADWAY BLVD STE 130
 
KANSAS CITY, MO64150

$ 15,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
LINCOLN INSTITUTE OF LAND POLICY
  		Employer identification number
86-6021106
Part I
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
JANET AND DAN DUBRAVA
4319 BROOKRIDGE DR
 
FAIRWAY, KS66205

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
14
KRESGE FOUNDATION
 
3215 W BIG BEAVER ROAD
 
TROY, MI48084

$ 500,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
15
LINDA MASON
73 SOMERSET ST
 
BELMONT, MA02478

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
16
NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION
 
1401 CONSTITUTION AVE NW RM 5128
 
WASHINGTON, DC20230

$ 53,629


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
17
NEIL KARBANK
2000 SHAWNEE MISSION PRWY STE 400
 
MISSION WOODS, KS66205

$ 10,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
18
SCOTT AND MARY BROWN
1 DOWNING RD
 
HANOVER, NH03755

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
LINCOLN INSTITUTE OF LAND POLICY
  		Employer identification number
86-6021106
Part I
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
19
SPRING POINT PARTNERS
 
2929 WALNUT STREET STE 1150
 
PHILADELPHIA, PA19104

$ 20,110


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
20
THE NATURE CONSERVANCY
 
2424 SPRUCE STREET
 
BOULDER, CO80302

$ 25,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
21
UNIVERSITY CORPORATION OF ATMOSPHERIC RESEARCH
 
3090 CENTER GREEN DRIVE
 
BOULDER, CO80301

$ 194,923


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
22
UNIVERSITY OF NORTH CAROLINA
 
104 AIRPORT DR STE 2200
 
CHAPEL HILL, NC27599

$ 17,482


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
23
VERMONT COMMUNITY FOUNDATION
 
3 COURT STREET
 
MIDDLEBURY, VT05753

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
24
WATER FOUNDATION
 
3335 WATT WVE STE B PMB233
 
SACRAMENTO, CA95821

$ 250,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
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.) $  
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) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AUDIT FEES 221,787 39,887 39,887 181,900

TY 2024 InvestmentsCorpBondsSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Name of Bond End of Year Book Value End of Year Fair Market Value
BARROW HANLEY CORE 19,514,259 19,514,259

TY 2024 InvestmentsCorpStockSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Name of Stock End of Year Book Value End of Year Fair Market Value
EAGLE CAPITAL MGMT 104,759,120 104,759,120
GRANITE 49,614,192 49,614,192
LINCOLN ELECTRIC HOLDINGS 145,110,435 145,110,435
SANDS CAPITAL MGMT 58,561,960 58,561,960
SANTA BARBARA 56,218,434 56,218,434
FULLER AND THALER 40,757,815 40,757,815
POLEN INTL GROWTH 37,455,570 37,455,570
BARROW HANLEY MUTUAL 2,003,980 2,003,980

TY 2024 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
NUVEEN GLOBAL INFRASTRUCTURE FMV 34,131,614 34,131,614
MUTUAL FUNDS FOR 457 PLAN FMV 731,207 731,207
SKELLIG DST WATER FUND FMV 16,086,874 16,086,874
ABRAAJ GROWTH MARKETS FMV 2,256,568 2,256,568
ANGELO GORDON II FMV 2,630,632 2,630,632
ANGELO GORDON III FMV 4,563,698 4,563,698
ANGELO GORDON REAL ESTATE FMV 5,747,697 5,747,697
BARINGS FMV 9,914,090 9,914,090
BAYVIEW FMV 1,519,834 1,519,834
BLACKSTONE STRATEGIC CAP HOLDINGS FMV 11,647,274 11,647,274
BLACKSTONE STRATEGIC OPPORTUNITY FUND FMV 3,890,758 3,890,758
BLACKSTONE STRATEGIC PARTNERS SECONDARIES FMV 5,967,101 5,967,101
CARLYLE FMV 136,078 136,078
CARLYLE ALPHAINVEST FMV 5,176,510 5,176,510
CARLYLE ENERGY PARTNERS FMV 5,257,042 5,257,042
ECOSYSTEM III FMV 7,208,831 7,208,831
ECOSYSTEM PARTNERS IV FMV 8,539,744 8,539,744
ECOSYSTEM V FMV 2,903,992 2,903,992
GERBER TAYLOR FMV 11,000,000 11,000,000
GERBER TAYLOR OFFSHORE FMV 11,781,125 11,781,125
IHS DEVFUND I EKHAYA FMV 781,992 781,992
INTERNATIONAL HOUSING SOLUTIONS FMV 3,208,667 3,208,667
INVESTEC (AFRICAN) FMV 861,820 861,820
KAIROS VENTURE PARTNERS III FMV 7,117,148 7,117,148
KAYNE ANDERSON FMV 3,445,157 3,445,157
LEVINE LEICHTMAN CAP PARTNERS VI FMV 10,238,725 10,238,725
LEVINE LEICHTMAN CAP PARTNERS VII FMV 1,680,022 1,680,022
LLCP III FMV 8,344,484 8,344,484
MORGAN CREEK FMV 1,529,191 1,529,191
MORGAN CREEK NEW CHINA FUND FMV 4,778,041 4,778,041
SILVER LAKE ALPINE II OFFSHORE FMV 9,501,830 9,501,830
SKYBRIDGE FMV 7,812,841 7,812,841
UNIGESTION FMV 9,388,253 9,388,253
UNIGESTION CLIMATE FMV 5,924,446 5,924,446

TY 2024 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 & BUILDING - BRATTLE 10,082,410 8,026,905 2,055,505 2,055,505
LAND & BUILDING - PHILLIPS 4,189,780 1,770,751 2,419,029 2,419,029
LAND & BUILDING - PHOENIX 3,366,209 2,327,069 1,039,140 1,039,140
CAP IMPROVEMENT - BRATTLE 20,292,767 1,437,459 18,855,308 18,855,308
CAP IMPROVEMENT - PHILLIPS 3,020,893 201,881 2,819,012 2,819,012
CAP IMPROVEMENT - PHOENIX 2,751,904 0 2,751,904 2,751,904
CAPITALIZED INTEREST - BRATTLE 358,310 0 358,310 358,310
CAPITALIZED INTEREST - PHILLIPS 443,002 0 443,002 443,002
CAPITALIZED INTEREST - PHOENIX 121,864 25,588 96,276 96,276
ARTWORK 228,901 0 228,901 228,901
FURNITURE & EQUIPMENT 1,484,177 1,115,264 368,913 368,913


TY 2024 LegalFeesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 52,146 6,336 6,336 45,811


TY 2024 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 46,800 108,400 108,400
INVESTMENT INTEREST RECEIVABLE 150,136 226,228 226,228
OPERATING LEASE RIGHT-OF-USE ASSET 178,930 116,959 116,959
RECEIVABLES FROM INVESTMENTS SOLD 8,249,767    
SAFE INVESTMENT 0 500,000 500,000


TY 2024 OtherDecreasesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Description Amount
CHANGE IN DEFERRED EXCISE TAX 91,258


TY 2024 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 & RFPS 1,055,070 0 0 963,259
DISSEMINATION 886,117 0 0 772,214
GENERAL OFFICE 675,096 76,176 76,176 1,025,572
INSURANCE 179,180 0 0 179,181
OTHER STAFFING 214,118 0 0 205,148
INFORMATION TECHNOLOGY 737,438 29,178 29,178 652,550


TY 2024 OtherIncomeSchedule2
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PUBLICATIONS 29,985   29,985
CONTRACT REVENUE 1,870,714   1,870,714
EVENTS 84,468   84,468
OTHER INVESTMENT RELATED INCOME 87,323 87,323 87,323


TY 2024 OtherIncreasesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Description Amount
UNREALIZED GAIN ON INVESTMENTS 8,871,300


TY 2024 OtherLiabilitiesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Description Beginning of Year - Book Value End of Year - Book Value
REVOLVING LOAN ACCOUNT 38,825,555 38,825,555
DEFERRED FEDERAL EXCISE TAX 3,027,736 3,118,993
ACCRUED POST-RETIREMENT BENEFITS 6,473,123 11,525,928
DEFERRED COMPENSATION RESERVE 610,135 731,207
OPERATING LEASE LIABILITY 183,459 136,762


TY 2024 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 2,201,799 2,201,799 2,201,799 0
INVESTMENT CONSULTANT 1,499,377 1,499,377 1,499,377 0
PROGRAM PROFESSIONAL FEES 17,172,351 3,716,480 3,716,480 15,221,997


TY 2024 TaxesSchedule
Name:
LINCOLN INSTITUTE OF LAND POLICY
EIN:
86-6021106
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 103,762 103,762 103,762 0
PROPERTY TAXES 48,848 1,658 1,658 47,189
FEDERAL UBIT 61,637 0 0 61,637
FEDERAL EXCISE 974,703 0 0 1,202,519
OTHER TAXES 35,816 0 0 35,806