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← NEWPORT COUNTY DEVELOPMENT COUNCIL

Form 990 for tax year 2022

Filed by NEWPORT COUNTY DEVELOPMENT COUNCIL.

Totals

Total revenue
$393,680
Total expenses
$407,274
Contributions and grants received
$364,816
Grants paid
$0
Program service revenue
$0
Investment income
$3,564
Other revenue
$25,300
Total assets, end of year
$476,927
Total liabilities, end of year
$329,112
Net assets or fund balances, end of year
$147,815
Program services expenses (Part IX)
$29,030
Management and general expenses
$378,244
Fundraising expenses
$0
Program service expenses (Part III)
$29,030

Program services were 7.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $213,816

  • 1f · All other contributions, gifts and grants

    $151,000

  • 3 · Investment income

    total $3,564 · related or exempt $3,564

  • 11a · Other revenue: ADMINISTRATIVE FEES

    total $25,300 · excluded $25,300

  • 11e · Other revenue, total

    $25,300

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $145 · management and general $145

  • 11f · Fees: investment management

    total $1,137 · management and general $1,137

  • 11g · Fees: other

    total $358,373 · management and general $358,373

  • 12 · Advertising and promotion

    total $10,824 · management and general $10,824

  • 13 · Office expenses

    total $245 · management and general $245

  • 17 · Travel

    total $7,520 · management and general $7,520

  • 22 · Depreciation, depletion and amortization

    total $13,950 · program services $13,950

  • 24a · Other expenses: BAD DEBT

    total $15,080 · program services $15,080

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $380,787 · end of year $300,514

  • 4 · Accounts receivable

    beginning of year $18,119 · end of year $33,250

  • 11 · Investments: publicly traded securities

    beginning of year $104,292 · end of year $113,520

  • 14 · Intangible assets

    beginning of year $43,593 · end of year $29,643

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,383 · end of year $51,093

  • 19 · Deferred revenue

    beginning of year $345,689

  • 25 · Other liabilities

    beginning of year $22,176 · end of year $278,019

  • 27 · Net assets without donor restrictions

    beginning of year $159,543 · end of year $147,815

Mission and programs · 2022

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.

  • 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.

  • 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.

    Expenses $29,030

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gail Alofsin

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Gomes

    CHAIR EX OFF

    Total calculated
    $0
    Hours/week
    1

  • Cristina Offenberg

    LEGAL COUNSE

    Total calculated
    $0
    Hours/week
    1

  • Joseph Pratt

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Steve Senteio

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Andrew Tavares

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Adam Thayer

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lynn Tungett

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    1

  • Erin Donovan-Boyle

    PRESIDENT &

    Total calculated
    $0
    Hours/week
    1 + 50 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349323252

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