Newport Historical Society

Analysis

Newport Historical Society is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in April 1928, 98 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Newport Historical Society reported income of $2.8m and spending of $1.4m, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.8m (+151%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 159%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newport Historical Society sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within RI. Charities of a similar size with the same main cause include New York Pops Inc ($2.8m), Musical Associates of Central New York Inc ($2.8m) and Orpheum Theatre Preservation Project Ltd ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $155k (11% of expenses). Other salaries and wages came to $538k. At year end it held assets of $8.2m against liabilities of $62k, net assets of $8.2m. It reported 37 employees.