Newport County Development Council

Nonprofit profile at a glance

EIN
050490385
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Newport, RI, USA
Phone
4018471608
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$244,701
Expenses
$242,271
Assets
$562,067
Liabilities
$416,035

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ERIN DONOVAN-BOYLE (PRESIDENT &)

People named in this filing

  • GAIL ALOFSIN (DIRECTOR)
  • RICHARD CROMWELL (CHAIRMAN)
  • LELAND MERRILL (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assist newport county chamber of commerce in identifying, developing, operating, funding and supporting projects that stimulate commerce and trade in newport county, Rhode Island.

What it reported doing in 2024

Connect greater newport: the regional economic development initiative in newport county and the east bay is a project that will implement the creation of an organizational framework, the development of an integrated website and marketing materials, and the establishment of proactive policies designed to further efforts for closer regional collaboration and the strengthening of the countys economic and civic vitality.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 7
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.1%; rating input score 9
  • Program expense ratio: 5.8%; rating input score 6
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 2.32; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -17.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 9.1% of revenue deployed · 5.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $14K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 9/100.
  • High — Financial Efficiency: Program expense ratio scored 6/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.