NEWPORT FESTIVALS FOUNDATION INC (EIN 274099544) - Form 990 Financial Analysis & Trantor Score

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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

2010

Legal Domicile

Principal Officer

BRUCE GORDON

Phone

9787687664

Tax Period

2023-10-01 to 2024-09-30

NEWPORT FESTIVALS FOUNDATION INC, founded in 2010, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.5M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $11.9M left a modest 5% surplus.

Mission

TO MAINTAIN THE NEWPORT JAZZ FESTIVAL AND NEWPORT FOLK FESTIVAL.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,118,193

Program Service Revenue $9,083,375

Investment Income $424,837

Other Revenue $-96,843

TOTAL REVENUE $12,529,562

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,583,063

Fundraising Expenses $60,243

Program Expenses $10,545,815

Other Expenses $9,320,081

TOTAL EXPENSES $11,903,144

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,529,562	$11,504,009	+0.1%
Expenses	$11,903,144	$10,318,956	+0.2%
Net Income	$626,418	$1,185,053	-0.5%

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

401

Volunteers

220

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

$970,804

Total Directors

$348,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE S GORDON	BOARD MEMBER/CHAIRMAN	1.00	Officer Director	$0	$0	$0
NICHOLAS L PELL	BOARD MEMBER/TREASURER	1.00	Officer Director	$0	$0	$0
TIM ALBINSON	BOARD MEMBER	1.00	Director	$0	$0	$0
NICOLE BERNARD DAWES	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICIA BLANCHET	BOARD MEMBER	1.00	Director	$0	$0	$0
PAULA BOGGS	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD M CASHIN	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL DORF	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVEN GEWIRZ	BOARD MEMBER	1.00	Director	$0	$0	$0
VIKAS KAPOOR	BOARD MEMBER	1.00	Director	$0	$0	$0
ROGER KASS	BOARD MEMBER	1.00	Director	$0	$0	$0
JESSICA KAUSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM LANZONE	BOARD MEMBER	1.00	Director	$0	$0	$0
C RONALD MACKENZIE	BOARD MEMBER	1.00	Director	$0	$0	$0
RON MCCRAY	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
WARD MOONEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ALBERT JAY SWEET	BOARD MEMBER/EXECUTIVE DIR	40.00	Officer Director	$348,200	$0	$348,200
WILLIAM VAREIKA	BOARD MEMBER	1.00	Director	$0	$0	$0
KIRA KARBOCUS	CHIEF OPERATING OFFICER(FORMER)	40.00	Officer	$189,861	$0	$189,861
CHRISTOPHER CAPOTOSTO	CHIEF CREATIVE OFFICER	40.00	Officer	$174,939	$0	$174,939
JENNIFER RIEBER	EVENT DIRECTOR	40.00	Officer	$148,801	$0	$148,801
WILLIAM GLASSNER	PARTNERSHIP DIRECTOR & ARC	40.00	Officer	$109,003	$0	$109,003

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	$12,529,562	$11,903,144	$26,656,308	$626,418
2023	$11,504,009	$10,318,956	$21,607,778	$1,185,053
2022	$11,611,114	$9,577,985	$18,922,617	$2,033,129
2021	$11,132,304	$7,335,714	$20,080,911	$3,796,590
2020	$4,708,778	$2,716,671	$15,287,633	$1,992,107
2019	$8,009,887	$7,365,048	$12,945,922	$644,839
2018	$7,857,673	$6,847,637	$11,379,658	$1,010,036

NEWPORT FESTIVALS FOUNDATION INC