Newportfed Charitable Foundation
- Assets
- $3.3m
- Revenue
- $91.9k
- Investments
- $3.3m
- Employees
- 0
- Location
- Newport, RI
- Founding
- 06/2008
- Data as of
- 12/2022
- EIN
- 20-5140473
Organization Overview
Newportfed Charitable Foundation is located in Newport, RI. The organization was established in 2008. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newportfed Charitable Foundation 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, Newportfed Charitable Foundation generated $91.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $272.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Newportfed Charitable Foundation has awarded 37 individual grants totaling $204,655. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin M Mccarthy President | 1 | $2,250 | |
Arthur H Lathrop Treasurer | 2 | $5,250 | |
Judy Tucker Secretary | 1 | $2,250 | |
Alicia S Quirk Director | 1 | $2,250 | |
Donald Kaull Director | 1 | $1,500 | |
Kelly Lee Director | 1 | $2,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $95,903 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,014 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $91,889 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,250 |
| Other employee salaries and wages | $12,000 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,040 |
| Total operating and administrative expenses | $67,476 |
| Contributions, gifts, grants paid | $204,655 |
| Total expenses and disbursements | $272,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,141 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,325,418 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Newportfed Charitable Foundation has awarded $204,655 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
BIKE NEWPORT PURPOSE: PROGRAM SUPPORT | $1,500 |
IYRS SCHOOL OF TECHNOLOGY TRADES PURPOSE: PROGRAM SUPPORT | $5,000 |
BOYS CLUBS GIRLS CLUBS OF NEWPORT C PURPOSE: PROGRAM SUPPORT | $15,000 |
THE JONNYCAKE CENTER INC FOR HOPE PURPOSE: PROGRAM SUPPORT | $10,000 |
CHILD FAMILY SERVICES OF NEWPORT CT PURPOSE: PROGRAM SUPPORT | $10,000 |
NEWPORT GULLS PURPOSE: PROGRAM SUPPORT | $4,500 |