Newport Historical Society
- Assets
- $9.4m
- Revenue
- $1.7m
- Investments
- $712.9k
- Employees
- 35
- Location
- Newport, RI
- Founding
- 04/1928
- Data as of
- 12/2021
- EIN
- 05-0264532
Organization Overview
Newport Historical Society is located in Newport, RI. The organization was established in 1928. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Newport Historical Society employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newport Historical Society is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Newport Historical Society generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE HISTORY OF NEWPORT COUNTY- MAINTAIN HISTORIC COLLECTIONS- PROVIDE QUALITY EDUCATIONAL PROGRAMS
Describe the Organization's Program Activity:
COLLECTIONS - PRESERVE AND PROTECT OBJECTS, ARTIFACTS, PHOTOGRAPHS, MANUSCRIPTS, AND BOOKS, AND MAINTAIN A HISTORICAL RESEARCH LIBRARY WHICH IS OPEN TO THE GENERAL PUBLIC.
EDUCATION- EDUCATE THE PUBLIC ON REGIONAL HISTORY THROUGH MEANS SUCH AS WALKING TOURS OF CITY, HISTORIC SITE TOURS, LECTURES AND OTHER PROGRAMS.
BRICK MARKET MUSEUM- MUSEUM LOCATED IN NEWPORT RI THAT MAINTAINS AND DISPLAYS COLLECTIONS, OPEN TO THE GENERAL PUBLIC, NO ADMITTANCE FEE CHARGED, MUSEUM STORE.PROPERTIES- MAINTENANCE AND UPKEEP OF HISTORIC PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth Taylor Executive Director | Officer | 60 | $116,278 |
Nancy Cardoza Treasurer | OfficerTrustee | 2 | $0 |
Anne Hamilton Secretary | OfficerTrustee | 2 | $0 |
Paul Mcgreevy President | OfficerTrustee | 2 | $0 |
Douglas Newhouse First Vice President | OfficerTrustee | 2 | $0 |
Dwight Sipprelle Second Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $65,820 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $278,822 |
| All other contributions, gifts, grants, and similar amounts not included above | $687,608 |
| Noncash contributions included in lines 1a–1f | $750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,032,250 |
| Total Program Service Revenue | $139,486 |
| Investment income | $186,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $81,788 |
| Net Gain/Loss on Asset Sales | $140,832 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $68,459 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,665,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $586,577 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,628 |
| Payroll taxes | $46,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,809 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,704 |
| Fees for services: Other | $45,432 |
| Advertising and promotion | $29,061 |
| Office expenses | $5,400 |
| Information technology | $12,462 |
| Royalties | $0 |
| Occupancy | $45,430 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,406 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,787 |
| Insurance | $46,370 |
| All other expenses | $43,120 |
| Total functional expenses | $1,292,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,039 |
| Savings and temporary cash investments | $175,132 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $102,049 |
| Prepaid expenses and deferred charges | $11,203 |
| Net Land, buildings, and equipment | $2,516,790 |
| Investments—publicly traded securities | $5,818,112 |
| Investments—other securities | $712,893 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,362,707 |
| Accounts payable and accrued expenses | $45,639 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $245,639 |
| Net assets without donor restrictions | $4,448,849 |
| Net assets with donor restrictions | $4,668,219 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,362,707 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Newport Historical Society has recieved totaling $20,500.
| Awarding Organization | Amount |
|---|---|
Watkins Burnham Fund Providence, RI PURPOSE: PROGRAM SUPPORT | $20,000 |
Hohmann Foundation New York, NY PURPOSE: UNRESTRICTED SUPPORT OF THE ORGANZIATION'S EXEMPT PURPOSE | $500 |
Endowment Analysis
| Beg. Balance | $5,144,024 |
| Ending Balance | $5,144,024 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |
Greenwich Historical Society Inc Cos Cob, CT | $25,626,567 | $1,529,771 |
Marthas Vineyard Preservation Tr Inc Edgartown, MA | $22,708,847 | $3,056,624 |
Fort Adams Trust Inc Newport, RI | $1,609,265 | $1,343,928 |
Fairfield Historical Society Fairfield, CT | $12,480,196 | $1,219,328 |
Newport Historical Society Newport, RI | $9,362,707 | $1,665,951 |