Fabnewport
- Assets
- $578.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 65
- Location
- Newport, RI
- Founding
- 09/2015
- Data as of
- 12/2023
- EIN
- 46-3237048
Organization Overview
Fabnewport is located in Newport, RI. The organization was established in 2015. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Fabnewport employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fabnewport 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 12/2023, Fabnewport generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 24.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE YOUTH HAVE EQUITABLE ACCESS TO THE OPPORTUNITIES, RESOURCES, AND RELATIONSHIPS SO THEY CAN THRIVE TODAY AND IN THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEWPORT EXPERIENCE (NEX) PROVIDES OPPORTUNITIES THAT ARE OTHERWISE INACCESSIBLE TO YOUNG PEOPLE IN NEWPORT COUNTY, PARTICULARLY THOSE FROM SOCIO-ECONOMICALLY DISADVANTAGED BACKGROUNDS IN NEWPORTS NORTH END. NEX AIMS TO BRIDGE THE OPPORTUNITY GAP THROUGH DYNAMIC, HANDS-ON PROGRAMMING THAT EMPOWERS STUDENTS TO EXPLORE, LEARN, AND GROW. THE CORE OF THE NEX PROGRAM SERVES APPROXIMATELY 100 NEWPORT STUDENTS THROUGH A SIX-WEEK SUMMER IMMERSION AND REACHES HUNDREDS MORE THROUGH AFTER-SCHOOL ACTIVITIES, COMMUNITY OUTINGS, AND MIDDLE SCHOOL IN-SCHOOL PROGRAMMING. DURING THE SUMMER, NEX STUDENTS COLLABORATE WITH COMMUNITY ORGANIZATIONS, ENGAGE IN EXPERIENTIAL LEARNING, AND EXPLORE THEIR CITY TO BROADEN THEIR HORIZONS. THROUGHOUT THE SCHOOL YEAR, NEX AFTER-SCHOOL PROGRAMMING FOSTERS SKILL-BUILDING, CREATIVITY, AND CONFIDENCE. STUDENTS PARTICIPATE IN CLASSES SUCH AS ENTREPRENEURSHIP, CODING, ELECTRONICS, SEWING, DESIGN, ART, OUTDOOR ADVENTURE, AND GOLF. THEY ARE ENCOURAGED TO DELVE INTO THEIR INTERESTS, PAVING PATHWAYS TO POTENTIAL CAREERS. FABNEWPORT PROVIDES THE TOOLS AND RESOURCES TO SUPPORT THIS EXPLORATION, ENSURING STUDENTS DEVELOP SKILLS THAT WILL BENEFIT THEM FOR YEARS TO COME.
PVD YOUNG MAKERS DELIVERS INNOVATIVE PROGRAMMING ACROSS 10 PROVIDENCE PUBLIC LIBRARIES, EMPOWERING YOUTH TO DEVELOP LEADERSHIP, MENTORING, TECHNOLOGY, AND CREATIVE THINKING SKILLS TO DRIVE POSITIVE CHANGE IN THEIR COMMUNITIES. THE PROGRAM PROVIDES FREE ACCESS TO STATE- OF-THE-ART TOOLS AND TECHNOLOGIES, INCLUDING VINYL CUTTERS, 3D PRINTERS, LASER CUTTERS, SEWING MACHINES, ELECTRONICS, VIRTUAL REALITY EQUIPMENT, AND AUDIO/VIDEO PRODUCTION TOOLS. PROGRAMMING INCLUDES WEEKLY OPEN- STUDIO SESSIONS AND SPECIALIZED MAKERSPACE WORKSHOPS FOCUSED ON MACHINE LEARNING AND ESSENTIAL 21ST-CENTURY SKILL DEVELOPMENT. THESE SESSIONS ARE CO-HOSTED BY PVD YOUNG MAKERS INTERNS-YOUTH WHO PLAY A VITAL ROLE IN SHAPING THE PROGRAMS DESIGN AND DIRECTION. SINCE ITS INCEPTION, PVD YOUNG MAKERS HAS FACILITATED OVER 17,000 MAKERSPACE VISITS, SERVED 4,500 YOUTH, TRAINED 45 EDUCATORS AND LIBRARIANS, COLLABORATED WITH 2 CHARTER SCHOOLS AND 4 PROVIDENCE PUBLIC SCHOOLS, AND PARTICIPATED IN NUMEROUS STEAM EVENTS CITYWIDE. THIS PROGRAM CONTINUES TO INSPIRE CREATIVITY, COLLABORATION, AND LEARNING THROUGHOUT THE PROVIDENCE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Heath Executive Director | Officer | 40 | $77,048 |
Matthew Peterson Secretary | Trustee | 1 | $0 |
Nicholas Logler Director | Trustee | 1 | $0 |
Chris Semonelli Director | Trustee | 1 | $0 |
Stephan Sloan Director | Trustee | 1 | $0 |
Keith Ranaldi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $651,318 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $651,318 |
| Total Program Service Revenue | $367,080 |
| Investment income | $7,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $43,329 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,599 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,074,239 |
| 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. | $77,048 |
| Compensation of current officers, directors, key employees. | $9,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $597,874 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,574 |
| Payroll taxes | $73,375 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $332,522 |
| Advertising and promotion | $1,018 |
| Office expenses | $21,963 |
| Information technology | $9,834 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,345 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,424 |
| Insurance | $19,414 |
| All other expenses | $219 |
| Total functional expenses | $1,201,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,706 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,134 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $77,001 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $578,841 |
| Accounts payable and accrued expenses | $21,955 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,955 |
| Net assets without donor restrictions | $553,429 |
| Net assets with donor restrictions | $3,457 |
| 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 | $578,841 |