Seamens Church Institute of Newport R I

Analysis

Seamens Church Institute of Newport R I is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in June 1935, 91 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Seamens Church Institute of Newport R I reported income of $219k and spending of $424k, spending 194% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $449k to $219k (-51%), an average of -16% a year. The sharpest change came in the year to December 2021, when income rose by 124%. Over the whole period it spent 134% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Seamens Church Institute of Newport R I sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 52nd percentile within RI. Charities of a similar size with the same main cause include Sequoia Nursery School ($219k), Sanctity of Life of Transylvania County ($219k) and Friends of Sierra Vista City Library ($219k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $102k (24% of expenses). Other salaries and wages came to $98k. At year end it held assets of $3.6m against liabilities of $15k, net assets of $3.6m. It reported 3 employees.