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Newmarket Project INC

Not tax-deductible

Canton, OHMutual-benefit / member-servingEIN 34-1282839

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To engage in the purchase, rental, and sale of real property to enhance the rehabilitation of downtown canton, ohio.

Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Liabilities
$7.2M
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$486K
+16% vs prior year
Spent
$488K
To programs
0%
Net assets
$305K
By yearFY2020–FY2024
Revenue
$486K
FY2024▲ +16%
Revenue by fiscal year
FY2020$204K
FY2021$345K
FY2022$395K
FY2023$420K
FY2024$486K
Expenses
$488K
FY2024▲ +16%
Expenses by fiscal year
FY2020$205K
FY2021$347K
FY2022$396K
FY2023$422K
FY2024$488K
Net assets
$305K
FY2024▼ -0.7%
Net assets by fiscal year
FY2020$312K
FY2021$310K
FY2022$309K
FY2023$307K
FY2024$305K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $488K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Jeffrey W Zellers
Vice President
$0Pt VII · Sec A
Carrie L Bast
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Newmarket Project INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Buys, rents, and sells property to improve downtown Canton.

Provided by the organization

This section is blank until Newmarket Project INC claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

To engage in purchase, rental, and sale of real property to enhance the rehabilitation of downtown canton, ohio.

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$486K
Ln 12
Investment incomeLn 3$486K
Other incomeLn 4–11$50
Money outPt IX
$488K
Ln 25
Managementcol C$488K
Owns and owesPt X
$305K
net assets · Ln 32
Total assetsLn 16$7.5M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$486K
Other incomeLn 4–11$50
Total revenueLn 12$486K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$320K
Total assetsLn 16$7.5M
LiabilitiesLn 26$7.2M
Net assetsLn 32$305K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Land, buildings, equipmentLn 10c$320K$320K
Total assetsLn 16$7.0M$7.5M
LiabilitiesLn 26$6.7M$7.2M
Net assetsLn 32$307K$305K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
InterestLn 20$486K$486K
Other expenses (24a–d)Ln 24$25$25
Total functional expensesLn 25$488K$0$488K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $486K$488K−$2K$305K 990 PDF
FY2023 $420K$422K−$2K$307K 990 PDF
FY2022 $395K$396K−$792$309K 990 PDF
FY2021 $345K$347K−$2K$310K 990 PDF
FY2020 $204K$205K−$2K$312K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $486,122 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $486,072$486,072
VIII-6 Net rental income or lossExcluded from tax $50$50
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $486,122$486,122
Part IX · Statement of functional expenses $488,297 across 3 lines filed
IX-11c Accounting feesManagement $2,200$2,200
IX-20 InterestManagement $486,072$486,072
IX-24 Other expenses (24a–d)Management $25$25
IX-25 Total functional expensesPrograms $0 · Management $488,297 · Fundraising $0$488,297
Part X · Balance sheet $7,500,206 assets, 8 lines filed
Asset lines not itemized here account for $7,180,206; see the IRS return.
X-10c Land, buildings and equipment, netStart of year $320,000$320,000
X-16 Total assetsStart of year $7,014,134$7,500,206
X-17 Accounts payable and accrued expensesStart of year $256$256
X-25 Other liabilitiesStart of year $6,706,900$7,195,147
X-26 Total liabilitiesStart of year $6,707,156$7,195,403
X-27 Net assets without donor restrictionsStart of year $306,978$304,803
X-32 Total net assets or fund balancesStart of year $306,978$304,803
X-33 Total liabilities and net assetsStart of year $7,014,134$7,500,206
Part XI · Reconciliation of net assets $304,803 net assets at year end
XI-1 Total revenue$486,122
XI-2 Total expenses$488,297
XI-3 Revenue less expenses−$2,175
XI-4 Net assets at start of year$306,978
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$304,803

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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