Newport Historical Society
- Assets
- $8.0m
- Revenue
- $1.1m
- Investments
- $567.4k
- Employees
- 36
- Location
- Newport, RI
- Founding
- 04/1928
- Data as of
- 12/2022
- 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 12/2022, Newport Historical Society employed 36 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 12/2022, Newport Historical Society generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. 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
2022
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 |
|---|---|---|---|
Nancy Cardoza Board Member | Trustee | 2 | $0 |
Nancy Cushing Evans Board Member | Trustee | 2 | $0 |
Jessica Hagen Board Member | Trustee | 2 | $0 |
Anne Hamilton Secretary | OfficerTrustee | 2 | $0 |
Harriet Harris Board Member | Trustee | 2 | $0 |
Susan Jacquet Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $59,335 |
| Fundraising events | $172,500 |
| Related organizations | $0 |
| Government grants | $174,452 |
| All other contributions, gifts, grants, and similar amounts not included above | $506,579 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $912,866 |
| Total Program Service Revenue | $121,881 |
| Investment income | $107,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,630 |
| Net Gain/Loss on Asset Sales | -$95,652 |
| Net Income from Fundraising Events | -$67,205 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $91,928 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,072,487 |
| 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 | $670,746 |
| Pension plan accruals and contributions | $12,862 |
| Other employee benefits | $54,297 |
| Payroll taxes | $54,965 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,461 |
| Fees for services: Other | $110,657 |
| Advertising and promotion | $25,121 |
| Office expenses | $8,366 |
| Information technology | $25,325 |
| Royalties | $0 |
| Occupancy | $131,154 |
| Travel | $2,890 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,458 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $83,626 |
| Insurance | $52,860 |
| All other expenses | $31,338 |
| Total functional expenses | $1,444,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,649 |
| Savings and temporary cash investments | $105,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,757 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $115,822 |
| Prepaid expenses and deferred charges | $13,254 |
| Net Land, buildings, and equipment | $2,467,317 |
| Investments—publicly traded securities | $4,682,187 |
| Investments—other securities | $567,406 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,024,906 |
| Accounts payable and accrued expenses | $53,606 |
| Grants payable | $0 |
| Deferred revenue | $25,625 |
| 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 | $175,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $254,231 |
| Net assets without donor restrictions | $3,102,456 |
| 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 | $8,024,906 |