Renewport Inc

Analysis

Renewport Inc is a registered charity in United States, based in Newport, KY. It received its IRS tax-exemption ruling in January 2017, 9 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 2024, Renewport Inc reported income of $71k and spending of $67k, spending 95% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $99k to $71k (-29%), an average of -29% a year. The sharpest change came in the year to June 2024, when income dropped by 29%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Renewport Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within KY. Charities of a similar size with the same main cause include Winston Community Development Inc ($71k), Columbia Hebrew Benevolent Society ($71k) and African Minnesota Women Awarness Group ($71k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $50k against liabilities of $0, net assets of $50k.