Newport City Renaissance Corporation

Analysis

Newport City Renaissance Corporation is a registered charity in United States, based in Newport, VT. It received its IRS tax-exemption ruling in December 2023, 3 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 June 2023, Newport City Renaissance Corporation reported income of $65k and spending of $73k, spending 113% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $98k to $65k (-33%), an average of -34% a year. The sharpest change came in the year to June 2023, when income dropped by 33%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newport City Renaissance Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 17th percentile within VT. Charities of a similar size with the same main cause include South Carolina Jaycee Foundation Inc ($65k), Executive Service Corps of Houston Inc ($65k) and Frame Works International ($65k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 105% and program service revenue 1.9% of the total. At year end it held assets of $186k against liabilities of $61k, net assets of $125k.