Newport Hospital Foundation Inc
Newport Hospital Foundation: Strong Asset Growth, High Fundraising Costs
EIN: 222535533 · Newport, RI · NTEE: E122 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $66.5M |
| Total Expenses | $8.6M |
| Program Spending | 60% |
| Net Assets | $115.9M |
| Transparency Score | 75/100 |
Is Newport Hospital Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Newport Hospital Foundation Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Newport Hospital Foundation Inc
Newport Hospital Foundation Inc (EIN: 222535533) is a nonprofit organization based in Newport, RI, classified under NTEE code E122. The organization reported total revenue of $66.5M and total assets of $133.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newport Hospital Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Newport Hospital Foundation Inc is a major nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.1M |
| Total Expenses | $8.6M |
| Surplus / Deficit | $-508,251 |
| Total Assets | $116.9M |
| Total Liabilities | $1.1M |
| Net Assets | $115.9M |
| Operating Margin | -6.2% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 162.2 months |
Financial Health Grade: B
In 2023, Newport Hospital Foundation Inc reported a deficit of $508K with expenses exceeding revenue, holds 162.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Newport Hospital Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1370.3% | -12.4% | +5.8% |
| 2022 | -96.0% | -8.5% | -16.5% |
| 2021 | +68.3% | -32.2% | +14.9% |
| 2020 | -10.9% | +3.9% | -3.0% |
| 2019 | -30.1% | -11.5% | -7.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Newport Hospital Foundation Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 60%
- fundraising: 25%
According to IRS 990 filings, Newport Hospital Foundation Inc allocates its expenses as follows: admin: 15%, programs: 60%, fundraising: 25%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $508K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data, as specific compensation figures for key personnel are not included in the summary financial filings.
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 Newport Hospital Foundation Inc's IRS 990 filings:
- Fundraising expenses appear high relative to revenue in some years, for example, in 202209, expenses were $9,869,829 against revenue of $553,718, indicating a significant deficit or reliance on other income sources not detailed.
- The 'c0%' in the financial filings is unclear and could be a red flag if it represents a lack of transparency or an unstated financial metric.
- Significant fluctuations in revenue year-over-year (e.g., $553,718 in 202209 vs. $8,141,137 in 202309) warrant further investigation into funding sources and stability.
Strengths
The following positive indicators were identified for Newport Hospital Foundation Inc:
- Consistent growth in assets over the years, from $128,194,373 in 201609 to $133,079,352 in 202309, indicates strong financial management and investment.
- The organization maintains a substantial asset base ($133,079,352 in 202309), providing financial stability and capacity for future programs.
- The foundation has a long operational history with consistent annual filings, suggesting established processes and oversight.
Frequently Asked Questions about Newport Hospital Foundation Inc
Is Newport Hospital Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Newport Hospital Foundation Inc (EIN: 222535533) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Newport Hospital Foundation Inc spend its money?
Newport Hospital Foundation Inc directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Newport Hospital Foundation Inc tax-deductible?
Newport Hospital Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222535533). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Newport Hospital Foundation Inc's spending goes to programs?
Newport Hospital Foundation Inc directs 60% to programs, 25% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Newport Hospital Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Newport Hospital Foundation Inc is above average for NTEE category E122 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Newport Hospital Foundation Inc located?
Newport Hospital Foundation Inc is headquartered in Newport, Rhode Island and files with the IRS under EIN 222535533. It is classified under NTEE code E122.
How many years of IRS 990 filings does Newport Hospital Foundation Inc have?
Newport Hospital Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $66.5M in total revenue.
What does Newport Hospital Foundation Inc do?
Newport Hospital Foundation Inc is a nonprofit organization in the Health Care sector, located in Newport, Rhode Island. It is classified under NTEE code E122.
How much revenue does Newport Hospital Foundation Inc have?
Newport Hospital Foundation Inc reported total revenue of $66,523,960. Based on 13 IRS 990 filings on record.
What are Newport Hospital Foundation Inc's total assets?
Newport Hospital Foundation Inc holds total assets of $133,079,352 as reported in IRS 990 filings.
Where is Newport Hospital Foundation Inc located?
Newport Hospital Foundation Inc is based in Newport, Rhode Island.
What is Newport Hospital Foundation Inc's EIN?
Newport Hospital Foundation Inc's Employer Identification Number (EIN) is 222535533. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Newport Hospital Foundation Inc?
Newport Hospital Foundation Inc is classified under NTEE code E122 (Health Care).
Is Newport Hospital Foundation Inc a registered 501(c)(3)?
Yes, Newport Hospital Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222535533.
Does Newport Hospital Foundation Inc file IRS Form 990?
Yes, Newport Hospital Foundation Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Newport Hospital Foundation Inc's revenue in 2023?
In the 202309 filing period, Newport Hospital Foundation Inc reported total revenue of $8,141,137, total expenses of $8,649,388, and net assets of $116,918,552.
Is Newport Hospital Foundation Inc's revenue growing or declining?
Newport Hospital Foundation Inc's revenue is growing. Revenue went from $553,718 (202209) to $8,141,137 (202309), a +1370.3% change. Based on 13 filings on record.
What is Newport Hospital Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Newport Hospital Foundation Inc covers tax period 202309. It shows revenue of $8,141,137, expenses of $8,649,388, total assets of $116,918,552, and liabilities of $1,062,554.
How much does Newport Hospital Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Newport Hospital Foundation Inc allocates approximately 60% of expenses to program services, 15% to administrative costs, and 25% to fundraising. Program spending is moderate relative to overhead.
Is Newport Hospital Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Newport Hospital Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Newport Hospital Foundation Inc?
The following concerns were identified: Fundraising expenses appear high relative to revenue in some years, for example, in 202209, expenses were $9,869,829 against revenue of $553,718, indicating a significant deficit or reliance on other income sources not detailed.. The 'c0%' in the financial filings is unclear and could be a red flag if it represents a lack of transparency or an unstated financial metric.. Significant fluctuations in revenue year-over-year (e.g., $553,718 in 202209 vs. $8,141,137 in 202309) warrant further investigation into funding sources and stability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Newport Hospital Foundation Inc's strengths?
Positive indicators for Newport Hospital Foundation Inc include: Consistent growth in assets over the years, from $128,194,373 in 201609 to $133,079,352 in 202309, indicates strong financial management and investment.. The organization maintains a substantial asset base ($133,079,352 in 202309), providing financial stability and capacity for future programs.. The foundation has a long operational history with consistent annual filings, suggesting established processes and oversight.. These findings are derived from AI analysis of the organization's financial filings.
How does Newport Hospital Foundation Inc compensate executives?
Executive compensation cannot be assessed from the provided data, as specific compensation figures for key personnel are not included in the summary financial filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant disparity between reported revenue and expenses in certain years (e.g., 202209 revenue of $553,718 vs. expenses of $9,869,829), what are the primary sources of funding that cover these operational deficits, and how sustainable are they?
The provided data only shows 'r' (revenue) and 'x' (expenses). A deeper analysis of the full IRS Form 990 would be required to identify other income streams such as investment gains, grants, or contributions that might offset these operational deficits and ensure sustainability.
What specific strategies does Newport Hospital Foundation employ to manage the volatility in its annual revenue, which has ranged from $553,718 to $15,788,439 over the past several years?
The provided data does not detail specific strategies. However, such revenue fluctuations often indicate reliance on large, infrequent donations, capital campaigns, or volatile investment returns. A review of their fundraising strategies and investment policies would be necessary to understand their approach to revenue stability.
Filing History
IRS 990 filing history for Newport Hospital Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Newport Hospital Foundation Inc's revenue has declined by 9.5%, moving from $9.0M to $8.1M. Total assets decreased by 16.4% over the same period, from $139.8M to $116.9M. Total functional expenses fell by 2.8%, from $8.9M to $8.6M. In its most recent filing year (2023), Newport Hospital Foundation Inc reported a deficit of $508K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $116.9M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $115.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.1M | $8.6M | $116.9M | $1.1M | — | — |
| 2022 | $554K | $9.9M | $110.5M | $186K | — | View 990 |
| 2021 | $13.9M | $10.8M | $132.3M | $138K | — | View 990 |
| 2020 | $8.2M | $15.9M | $115.1M | $59K | — | View 990 |
| 2019 | $9.3M | $15.3M | $118.7M | $134K | — | View 990 |
| 2018 | $13.2M | $17.3M | $127.7M | $32K | — | View 990 |
| 2017 | $15.8M | $16.3M | $131.9M | $366K | — | View 990 |
| 2016 | $5.6M | $15.2M | $128.2M | $222K | — | View 990 |
| 2015 | $7.7M | $18.9M | $134.1M | $35K | — | View 990 |
| 2014 | $8.6M | $8.4M | $153.3M | $39K | — | View 990 |
| 2013 | $9.7M | $8.9M | $151.0M | $49K | — | View 990 |
| 2012 | $13.9M | $6.9M | $149.9M | $105K | — | View 990 |
| 2011 | $9.0M | $8.9M | $139.8M | $109K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.1M, expenses of $8.6M, and assets of $116.9M (revenue +1370.3% year-over-year).
- 2022: Revenue of $554K, expenses of $9.9M, and assets of $110.5M (revenue -96.0% year-over-year).
- 2021: Revenue of $13.9M, expenses of $10.8M, and assets of $132.3M (revenue +68.3% year-over-year).
- 2020: Revenue of $8.2M, expenses of $15.9M, and assets of $115.1M (revenue -10.9% year-over-year).
- 2019: Revenue of $9.3M, expenses of $15.3M, and assets of $118.7M (revenue -30.1% year-over-year).
- 2018: Revenue of $13.2M, expenses of $17.3M, and assets of $127.7M (revenue -16.1% year-over-year).
- 2017: Revenue of $15.8M, expenses of $16.3M, and assets of $131.9M (revenue +181.4% year-over-year).
- 2016: Revenue of $5.6M, expenses of $15.2M, and assets of $128.2M (revenue -27.6% year-over-year).
- 2015: Revenue of $7.7M, expenses of $18.9M, and assets of $134.1M (revenue -9.8% year-over-year).
- 2014: Revenue of $8.6M, expenses of $8.4M, and assets of $153.3M (revenue -11.3% year-over-year).
- 2013: Revenue of $9.7M, expenses of $8.9M, and assets of $151.0M (revenue -30.4% year-over-year).
- 2012: Revenue of $13.9M, expenses of $6.9M, and assets of $149.9M (revenue +54.7% year-over-year).
- 2011: Revenue of $9.0M, expenses of $8.9M, and assets of $139.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Newport Hospital Foundation Inc:
Data Sources and Methodology
This transparency report for Newport Hospital 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.