Newport String Project

Analysis

Newport String Project is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in March 2019, 7 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 June 2023, Newport String Project reported income of $296k and spending of $283k, spending 95% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $324k to $296k (-8.5%), an average of -4.3% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 80% 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 String Project sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 57th percentile within RI. Charities of a similar size with the same main cause include Natives in Tech Inc ($296k), Cuyahoga Valley Art Center ($296k) and Zoe Live Creative Arts Academy Inc ($296k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 3.0% of the total. Other salaries and wages came to $201k. At year end it held assets of $261k against liabilities of $7,659, net assets of $253k. It reported 6 employees.