Newport Performing Arts Center

Analysis

Newport Performing Arts Center is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in March 2001, 25 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 Performing Arts Center reported income of $407k and spending of $429k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $391k to $407k (+4.2%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 95%. Over the whole period it spent 102% 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 Performing Arts Center sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within RI. Charities of a similar size with the same main cause include Linton Incorporated ($407k), Sofia Quintero Art and Cultural Center ($408k) and Marion Community School of the Arts Inc ($407k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $74k (17% of expenses). It paid $85k in professional fundraising fees. At year end it held assets of $8.3m against liabilities of $551k, net assets of $7.7m. It reported 2 employees.