Newport Festivals Foundation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 4,018,896 | 2,919,237 | 1,099,659 | 4.5 | 18% |
| 2012 | 4,362,819 | 3,833,586 | 529,233 | 5.1 | 21% |
| 2013 | 5,481,064 | 4,316,525 | 1,164,539 | 7.8 | 21% |
| 2014 | 7,192,881 | 5,177,485 | 2,015,396 | 11.2 | 23% |
| 2015 | 6,525,229 | 5,435,806 | 1,089,423 | 12.6 | 21% |
| 2016 | 7,122,898 | 5,971,314 | 1,151,584 | 14.9 | 22% |
| 2017 | 8,233,409 | 6,264,355 | 1,969,054 | 19.1 | 20% |
| 2018 | 7,857,673 | 6,847,637 | 1,010,036 | 19.5 | 23% |
| 2019 | 8,009,887 | 7,365,048 | 644,839 | 20.3 | 22% |
| 2020 | 4,708,778 | 2,716,671 | 1,992,107 | 59.7 | 47% |
| 2021 | 11,132,304 | 7,335,714 | 3,796,590 | 30.7 | 23% |
| 2022 | 11,611,114 | 9,577,985 | 2,033,129 | 22.7 | 22% |
| 2023 | 11,504,009 | 10,318,956 | 1,185,053 | 24.1 | 20% |
In its most recent public year (2023), this organization brought in $1,185,053 more than it spent. Its reserves stood at about 24.1 months of spending, up from 4.5 in 2011. Staff pay was 20% of spending. $606,995 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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