Friends of Newport Theatre Arts

Analysis

Friends of Newport Theatre Arts is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in January 1979, 47 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Friends of Newport Theatre Arts reported income of $198k and spending of $241k, spending 122% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $138k to $198k (+43%), an average of +9.4% a year. The sharpest change came in the year to July 2022, when income rose by 116%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Newport Theatre Arts sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 56th percentile within CA. Charities of a similar size with the same main cause include Windsor Community Television Inc ($198k), Shadowlight Productions ($198k) and Showtime Theatre Company ($198k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 39% and program service revenue 73% of the total. Other salaries and wages came to $65k. At year end it held assets of $537k against liabilities of $1,094, net assets of $536k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.