Belmont Chapel Foundation

Analysis

Belmont Chapel Foundation is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in June 2014, 12 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, Belmont Chapel Foundation reported income of $162k and spending of $60k, leaving 63% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $690k to $162k (-76%), an average of -52% a year. The sharpest change came in the year to December 2022, when income rose by 120%. Over the whole period it spent 5.6% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Belmont Chapel Foundation sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within RI. Charities of a similar size with the same main cause include Jiva Performing Arts ($162k), Historical Society Inc ($162k) and Nwi Dance Parents Association Inc ($162k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $2.3m against liabilities of $59k, net assets of $2.2m.