Rhode Island Arts Foundation at Newport Incorporated

Analysis

Rhode Island Arts Foundation at Newport Incorporated is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in April 2016, 10 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 August 2024, Rhode Island Arts Foundation at Newport Incorporated reported income of $1.9m and spending of $1.6m, spending 84% of its income. Across the 5 years on record, from August 2020 to August 2024, income grew from $925k to $1.9m (+104%), an average of +20% a year. The sharpest change came in the year to August 2022, when income rose by 60%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rhode Island Arts Foundation at Newport Incorporated sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within RI. Charities of a similar size with the same main cause include Play on Philly ($1.9m), Boot Hill Museum Inc ($1.9m) and Pickford Film Center ($1.9m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 66% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $157k (9.9% of expenses). Other salaries and wages came to $425k. At year end it held assets of $3.3m against liabilities of $521k, net assets of $2.7m. It reported 15 employees.