Newport County Development Council

Analysis

Newport County Development Council is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in May 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 County Development Council reported income of $403k and spending of $415k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $206k to $403k (+96%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 161%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newport County Development Council sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within RI. Charities of a similar size with the same main cause include Williston Parks & Recreation Foundation Inc ($403k), East Side Business Improvement District ($403k) and Hamilton Partnership for Paterson Inc ($403k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $318k against liabilities of $177k, net assets of $141k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.