Newport Restoration Foundation

Analysis

Newport Restoration Foundation is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in June 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Newport Restoration Foundation reported income of $6.6m and spending of $6.6m, spending 99% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $7.2m to $6.6m (-8.4%), an average of -4.3% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newport Restoration Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within RI. Charities of a similar size with the same main cause include Peoria Christian School Inc ($6.6m), Summit Independent Living Center ($6.6m) and Places and Programs for Children Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $555k (8.4% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $40.4m against liabilities of $1.5m, net assets of $38.9m. It reported 65 employees.