Newport Public Education Foundation
- Assets
- $590.7k
- Revenue
- $178.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, RI
- Founding
- 02/1992
- Data as of
- 12/2021
- EIN
- 22-3137794
Organization Overview
Newport Public Education Foundation is located in Newport, RI. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newport Public Education 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 12/2021, Newport Public Education Foundation generated $178.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $369.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPING SCHOOL PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ENHANCED EDUCATIONAL OPPORTUNITIES FOR CHILDREN ATTENDING NEWPORT PUBLIC SCHOOLS BY SOLICITING FUNDS AND DEVELOPING PROJECTS THAT FOSTERED COMMUNITY SUPPORT AND INTEREST IN THE PUBLIC SCHOOL SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristen Ramsey Vice President | Officer | 5 | $0 |
Sharon Hussey Secretary | Officer | 3 | $0 |
John Trifero Treasurer | Officer | 3 | $0 |
Kate Borgueta President | Officer | 5 | $0 |
Maureen Mooney Director | Trustee | 1 | $0 |
Marj Cogar Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,655 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $131,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,770 |
| Total Program Service Revenue | $0 |
| Investment income | $15,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,416 |
| Net Income from Fundraising Events | -$2,687 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $178,473 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $355,831 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,875 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,419 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $608 |
| Office expenses | $1,530 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $2,229 |
| All other expenses | $0 |
| Total functional expenses | $369,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,616 |
| Savings and temporary cash investments | $14,233 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $510,865 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $590,714 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $120,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $470,714 |
| Total liabilities and net assets/fund balances | $590,714 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Newport Public Education Foundation has recieved totaling $261.
| Awarding Organization | Amount |
|---|---|
Middlecott Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
Endowment Analysis
| Beg. Balance | $463,271 |
| Earnings | $47,594 |
| Ending Balance | $510,865 |
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