Newport String Project
EIN: 823341534 · Newport, RI · NTEE: A68
| Metric | Value |
|---|---|
| Total Revenue | $482K |
| Total Expenses | $283K |
| Net Assets | $253K |
Is Newport String Project Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Newport String Project
Newport String Project (EIN: 823341534) is a nonprofit organization based in Newport, RI, classified under NTEE code A68. The organization reported total revenue of $482K and total assets of $411K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newport String Project's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Newport String Project is a small nonprofit that has been operating for 7 years, with 6 years of IRS 990 filings on record (2018–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $296K |
| Total Expenses | $283K |
| Surplus / Deficit | +$13K |
| Total Assets | $261K |
| Total Liabilities | $8K |
| Net Assets | $253K |
| Operating Margin | 4.5% |
| Debt-to-Asset Ratio | 2.9% |
| Months of Reserves | 11.1 months |
Financial Health Grade: A
In 2023, Newport String Project reported a surplus of $13K with revenue exceeding expenses, holds 11.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.9% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.0% | +38.0% | +8.6% |
| 2022 | -31.2% | +12.7% | +8.1% |
| 2021 | +115.2% | +40.2% | +175.1% |
| 2020 | +151.4% | +498511.5% | +35.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Newport String Project has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Newport String Project with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $13K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.9%.
Frequently Asked Questions about Newport String Project
Is Newport String Project a legitimate charity?
Based on AI analysis of IRS 990 filings, Newport String Project (EIN: 823341534) insufficient data. 0 red flags identified, 0 strengths noted.
How does Newport String Project spend its money?
Detailed spending breakdown data is not yet available for Newport String Project. Check back for updated IRS 990 analysis.
Are donations to Newport String Project tax-deductible?
Newport String Project is registered as a tax-exempt nonprofit (EIN: 823341534). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Newport String Project located?
Newport String Project is headquartered in Newport, Rhode Island and files with the IRS under EIN 823341534. It is classified under NTEE code A68.
How many years of IRS 990 filings does Newport String Project have?
Newport String Project has 6 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 $482K in total revenue.
Filing History
IRS 990 filing history for Newport String Project showing financial trends over 6 years of public records:
Total assets increased by 26097900% over the same period, from $1 to $261K. In its most recent filing year (2023), Newport String Project reported a surplus of $13K, with revenue exceeding expenses. The organization holds $8K in liabilities against $261K in assets (debt-to-asset ratio: 2.9%), resulting in net assets of $253K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $296K | $283K | $261K | $8K | — | View 990 |
| 2022 | $223K | $205K | $240K | $477 | — | View 990 |
| 2021 | $324K | $182K | $222K | $178 | — | View 990 |
| 2020 | $150K | $130K | $81K | $402 | — | View 990 |
| 2019 | $60K | $26 | $60K | $0 | — | View 990 |
| 2018 | $0 | $0 | $1 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $296K, expenses of $283K, and assets of $261K (revenue +33.0% year-over-year).
- 2022: Revenue of $223K, expenses of $205K, and assets of $240K (revenue -31.2% year-over-year).
- 2021: Revenue of $324K, expenses of $182K, and assets of $222K (revenue +115.2% year-over-year).
- 2020: Revenue of $150K, expenses of $130K, and assets of $81K (revenue +151.4% year-over-year).
- 2019: Revenue of $60K, expenses of $26, and assets of $60K.
- 2018: Revenue of $0, expenses of $0, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Newport String Project:
Data Sources and Methodology
This transparency report for Newport String Project 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.