Newburyport Five Cents Savings Charitable Foundation Inc
Newburyport Five Cents Savings Charitable Foundation consistently expends more than its annual revenue while maintaining a strong asset base.
EIN: 200318941 · Newburyport, MA · NTEE: T21 · Updated: 2026-03-28
Is Newburyport Five Cents Savings Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Newburyport Five Cents Savings Charitable Foundation Inc directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Newburyport Five Cents Savings Charitable Foundation Inc
Newburyport Five Cents Savings Charitable Foundation Inc (EIN: 200318941) is a nonprofit organization based in Newburyport, MA, classified under NTEE code T21. The organization reported total revenue of $1.0M and total assets of $5.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newburyport Five Cents Savings Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Newburyport Five Cents Savings Charitable Foundation Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Newburyport Five Cents Savings Charitable Foundation Inc allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the foundation, which is highly efficient and directs more funds towards charitable purposes.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Newburyport Five Cents Savings Charitable Foundation Inc's IRS 990 filings:
- Consistent annual expenses exceeding revenue in recent years (e.g., $685,884 expenses vs. $366,426 revenue in 2023), which could deplete assets if not managed sustainably.
Strengths
The following positive indicators were identified for Newburyport Five Cents Savings Charitable Foundation Inc:
- Zero officer compensation reported across all filings, indicating high efficiency and direct application of funds to mission.
- Strong and consistent asset base (e.g., $5,286,949 in 2023) providing financial stability for its grantmaking activities.
- Consistent IRS 990 filing history, demonstrating transparency and compliance.
- Clear focus on its grantmaking mission (NTEE T21).
Frequently Asked Questions about Newburyport Five Cents Savings Charitable Foundation Inc
Is Newburyport Five Cents Savings Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Newburyport Five Cents Savings Charitable Foundation Inc (EIN: 200318941) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Newburyport Five Cents Savings Charitable Foundation Inc spend its money?
Newburyport Five Cents Savings Charitable Foundation Inc directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Newburyport Five Cents Savings Charitable Foundation Inc tax-deductible?
Newburyport Five Cents Savings Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 200318941). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Newburyport Five Cents Savings Charitable Foundation Inc a good charity?
Yes, based on the available data, it appears to be a good charity. It consistently files its IRS 990s, reports no officer compensation, and maintains a substantial asset base to support its grantmaking mission (NTEE T21).
How does the foundation manage to spend more than its revenue annually?
As a grantmaking foundation with a significant asset base (e.g., $5,286,949 in 2023), it likely draws from its endowment or accumulated funds to cover grant distributions and operational expenses when annual investment income or contributions are insufficient.
What are the primary expenses of this organization?
Given its NTEE code T21 (Grantmaking Foundations) and the absence of officer compensation, the primary expenses are almost certainly grants paid to other organizations and minimal administrative costs associated with managing the foundation.
Filing History
IRS 990 filing history for Newburyport Five Cents Savings Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Newburyport Five Cents Savings Charitable Foundation Inc's revenue has grown by 244.7%, moving from $106K to $366K. Total assets increased by 51.4% over the same period, from $3.5M to $5.3M. Total functional expenses rose by 294%, from $174K to $686K. In its most recent filing year (2023), Newburyport Five Cents Savings Charitable Foundation Inc reported a deficit of $319K, with expenses exceeding revenue. The organization holds $1 in liabilities against $5.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $366K | $686K | $5.3M | $1 | — | — |
| 2022 | $393K | $735K | $5.2M | $1 | — | View 990 |
| 2021 | $499K | $540K | $6.6M | $1 | — | View 990 |
| 2020 | $270K | $399K | $5.9M | $1 | — | — |
| 2019 | $432K | $433K | $5.8M | $0 | — | View 990 |
| 2015 | $235K | $220K | $4.1M | $0 | — | View 990 |
| 2014 | $300K | $216K | $4.3M | $0 | — | View 990 |
| 2013 | $113K | $195K | $4.2M | $0 | — | View 990 |
| 2012 | $117K | $175K | $3.8M | $0 | — | View 990 |
| 2011 | $106K | $174K | $3.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $366K, expenses of $686K, and assets of $5.3M (revenue -6.7% year-over-year).
- 2022: Revenue of $393K, expenses of $735K, and assets of $5.2M (revenue -21.4% year-over-year).
- 2021: Revenue of $499K, expenses of $540K, and assets of $6.6M (revenue +85.2% year-over-year).
- 2020: Revenue of $270K, expenses of $399K, and assets of $5.9M (revenue -37.5% year-over-year).
- 2019: Revenue of $432K, expenses of $433K, and assets of $5.8M (revenue +83.3% year-over-year).
- 2015: Revenue of $235K, expenses of $220K, and assets of $4.1M (revenue -21.6% year-over-year).
- 2014: Revenue of $300K, expenses of $216K, and assets of $4.3M (revenue +165.8% year-over-year).
- 2013: Revenue of $113K, expenses of $195K, and assets of $4.2M (revenue -3.3% year-over-year).
- 2012: Revenue of $117K, expenses of $175K, and assets of $3.8M (revenue +9.9% year-over-year).
- 2011: Revenue of $106K, expenses of $174K, and assets of $3.5M.
Data Sources and Methodology
This transparency report for Newburyport Five Cents Savings Charitable Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.