Newport Restoration Foundation in Newport, Rhode Island (RI)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Other organizations in Rhode Island
| Newport Restoration Foundation | |
| Employer Identification Number (EIN) | 050317816 |
| Name of Organization | Newport Restoration Foundation |
| In Care of Name | Morgan Guaranty Tr Co Cicely Ford |
| Address | 51 Touro St, Newport, RI 02840-2932 |
| Activities | Other school related activities, Historical site, records or reenactment |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 06/1969 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $33,952,845 |
| Amount of Income | $8,393,730 |
| Form 990 Revenue Amount | $4,917,720 |
Non-representatives - add comments:
Revenue for 2012
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $4,813,534 | $1,999,017 | $2,395,568 | |
| Contributions, gifts, grants, etc., received | $2,332,618 | |||
| Interest on savings and temporary cash investments | $92,942 | |||
| Dividends and interest from securities | $139,460 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $9,416 | |||
| Gross sales less returns and allowances | $1,131 | |||
| Less: Cost of goods sold | $8,285 | |||
| Other income | $2,137,879 | |||
| Other | $101,219 | |||
| Total expenses and disbursements | $4,812,925 | $2,404,836 | $2,404,836 | $2,395,568 |
| Compensation of officers, directors, trustees, etc. | $183,796 | |||
| Total operating and administrative expenses | $4,809,668 | $2,404,836 | $2,395,568 | |
| Contributions, gifts, grants paid | $9,264 | |||
| Excess of revenue over expenses and disbursements | $609 | |||
| Net investment income | $0 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $33,157,672 | $54,822,216 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $1,901,326 | |
| Investments-corporate stock | $5,117,872 | |
| Investments-corporate bonds | $436,900 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $25,701,574 | |
| Total liabilities | $985,960 | |
| Mortgages and other notes payable | $76,584 | |
| Other | $909,376 | |
| Total liabilities and net assets/fund balances | $32,171,712 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $101,219 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | Yes |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | Yes |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | Yes |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $8,471,660 |
| Net value of noncharitable-use assets | $8,344,580 |
| Minimum investment return | $417,229 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Other organizations in Rhode Island | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Newport Health Property Management Inc | 11 Friendship St, Newport, RI 02840-2209 | RI | 1985-05 | $1,810,631 |
| 2 | Newport Historical Society | 82 Touro St, Newport, RI 02840-2931 | RI | 1928-04 | $2,024,546 |
| 3 | Newport International Film Festival Inc | PO BOX 146, Newport, RI 02840-0002 | RI | 1998-04 | $436,808 |
| 4 | Newport Management Association | 2 Corporate Pl, Middletown, RI 02842-6294 | RI | 1990-08 | $3,082 |
| 5 | Newport Officers Spouse Club | PO BOX 5115, Newport, RI 02841-0101 | RI | 1991-06 | $66,760 |
| 6 | Newport Performing Arts Center | PO BOX 234, Newport, RI 02840-0203 | RI | 2001-03 | $115,237 |
| 7 | Newport Firefighter Pension Association | 26 Congdon Ave, Newport, RI 02840 | RI | 1992-12 | $0 |
| 8 | Newport Public Education Foundation, Npef | Po Box 1237, Newport, RI 02840 | RI | 1992-02 | $32,331 |
| 9 | Newport Public Library | 300 Spring St, Newport, RI 02840-6815 | RI | 1943-12 | $2,337,142 |
| 10 | Newport Reading Room | 29 Bellevue Ave, Newport, RI 02840-3207 | RI | 1941-08 | $672,537 |
| 11 | Newport Restoration Foundation | 51 Touro St, Newport, RI 02840-2932 | RI | 1969-06 | $8,393,730 |
| 12 | Newport Ri Police Relief Fund Association | C/O Police Headquarters Broadway, Newport, RI 02840 | RI | 1984-07 | $889,800 |
| 13 | Newport Rifle Club Inc | 200 John Kesson Ln, Middletown, RI 02842-4675 | RI | 2001-07 | $110,039 |
| 14 | Newport Rotary Charitable Foundation | PO BOX 164, Newport, RI 02840-0002 | RI | 1990-08 | $29,620 |
| 15 | Newport Showhouse Guild | 470 Ten Rod Road, North Kingstown, RI 02852 | RI | 2000-07 | $0 |
| 16 | Newport Yacht Club Endowment Fund | PO BOX 944, Newport, RI 02840-0008 | RI | 2003-10 | $8,856 |
| 17 | Newport Yacht Club Inc | 110 Long Wharf, Newport, RI 02840-2407 | RI | 1973-02 | $1,205,976 |
| 18 | Newportfed Charitable Foundation | PO BOX 509, Newport, RI 02840-0500 | RI | 2008-06 | $4,714,053 |
| 19 | Newsttead Foundation Inc | PO BOX 6444, Providence, RI 02940-6444 | RI | 1986-04 | $1 |
| 20 | National Council Of Child Support Directors, Ncscsea | 77 Dorrance Street C/O Sharon, Providence, RI 02906 | RI | 2000-05 | $63,772 |
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