NEWPORT COUNTY DEVELOPMENT COUNCIL

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1995

Legal Domicile

Principal Officer

ERIN DONOVAN-BOYLE

Phone

4018471608

Tax Period

2024-01-01 to 2024-12-31

NEWPORT COUNTY DEVELOPMENT COUNCIL, founded in 1995, is a small nonprofit in the Community Improvement sector that reported $245K in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring.

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.

Program Service Accomplishments

Program 1

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $148,896

Program Service Revenue $0

Investment Income $8,917

Other Revenue $86,888

TOTAL REVENUE $244,701

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,950

Other Expenses $242,271

TOTAL EXPENSES $242,271

Year-over-Year Comparison

	2024	2023	Change
Revenue	$244,701	$403,399	-0.4%
Expenses	$242,271	$414,953	-0.4%
Net Income	$2,430	$-11,554	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GAIL ALOFSIN	DIRECTOR	N/A	Director	$0	$0	$0
RICHARD CROMWELL	CHAIRMAN	N/A	Officer Director	$0	$0	$0
LELAND MERRILL	TREASURER	N/A	Officer Director	$0	$0	$0
JOSEPH NICHOLSON	SECRETARY	N/A	Officer Director	$0	$0	$0
CRISTINA OFFENBERG	LEGAL COUNSE	N/A	Director	$0	$0	$0
CRAIG SCULOS	DIRECTOR	N/A	Officer Director	$0	$0	$0
ANDREW TAVARES	EX-OFFICIO	N/A	Officer Director	$0	$0	$0
MELISSA VARAO	VICE CHAIR	N/A	Officer Director	$0	$0	$0
MATTHEW VARGAS	DIRECTOR	N/A	Director	$0	$0	$0
ERIN DONOVAN-BOYLE	PRESIDENT &	N/A	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$244,701	$242,271	$562,067	$2,430
2023	$403,399	$414,953	$317,930	$-11,554
2022	$393,680	$407,274	$476,927	$-13,594
2021	$409,825	$428,330	$546,791	$-18,505
2020	$536,000	$461,388	$370,403	$74,612
2019	$205,517	$202,980	$154,520	$2,537
2018	$335,528	$237,418	$236,277	$98,110