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Newmarket Project INC FY2020 filing

Not tax-deductible

Canton, OHMutual-benefit / member-serving EIN 34-1282839Revenue $204K in FY2020Latest return filed Nov 10, 2025

On file with the IRSCanton, OHTax-exempt since Oct 1980

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

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.1M
95% of total assets
Concern: liabilities are 95% 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
$204K
Spent
$205K
To programs
0%
Net assets
$312K
By yearFY2020–FY2024
Revenue
$204K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$204K
FY2021$345K
FY2022$395K
FY2023$420K
FY2024$486K
Expenses
$205K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$205K
FY2021$347K
FY2022$396K
FY2023$422K
FY2024$488K
Net assets
$312K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$312K
FY2021$310K
FY2022$309K
FY2023$307K
FY2024$305K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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% · $205K

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

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

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

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.

Questions for Newmarket Project INC

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1 program · in their own filed words · FY2020
01

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

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$204K
Ln 12
Investment incomeLn 3$204K
Other incomeLn 4–11$50
Money outPt IX
$205K
Ln 25
Managementcol C$205K
Owns and owesPt X
$312K
net assets · Ln 32
Cash and savingsLn 1–2$115
Total assetsLn 16$6.4M
LiabilitiesLn 26$6.1M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$204K
Other incomeLn 4–11$50
Total revenueLn 12$204K
Assets in detailPt X, end of year
CashLn 1$115
Cash and savings togetherLn 1–2$115
Notes and loans receivableLn 7$6.0M
Land, buildings, equipmentLn 10c$320K
Other assetsLn 15$122K
Total assetsLn 16$6.4M
LiabilitiesLn 26$6.1M
Net assetsLn 32$312K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY20FY19FY18FY17FY16
End of yearLn 1g$312K$313K$315K$318K$321K
SpentLn 1d–1f$205K$123K$124K$64K$1K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$65$115
Land, buildings, equipmentLn 10c$320K$320K
Total assetsLn 16$3.4M$6.4M
LiabilitiesLn 26$3.1M$6.1M
Net assetsLn 32$313K$312K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
InterestLn 20$204K$204K
Total functional expensesLn 25$205K$0$205K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 10, 2025 $486K$488K−$2K$305K 990 PDF
FY2023Filed with the IRS Nov 13, 2024 $420K$422K−$2K$307K 990 PDF
FY2022Filed with the IRS Nov 7, 2023 $395K$396K−$792$309K 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $345K$347K−$2K$310K 990 PDF
FY2020 ViewingFiled with the IRS Nov 10, 2021 $204K$205K−$2K$312K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $203,793 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $121,667$203,743
I-11 Other revenuePrior year $50$50
I-12 Total revenuePrior year $121,717$203,793
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $123,392$205,493
I-18 Total expensesPrior year $123,392$205,493
I-19 Revenue less expensesPrior year −$1,675−$1,700
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $203,793 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $203,743$203,743
VIII-6 Net rental income or lossExcluded from tax $50$50
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $203,793$203,793
Part IX · Statement of functional expenses $205,493 across 2 lines filed
IX-11c Accounting feesManagement $1,750$1,750
IX-20 InterestManagement $203,743$203,743
IX-25 Total functional expensesPrograms $0 · Management $205,493 · Fundraising $0$205,493
Part X · Balance sheet $6,442,103 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $65$115
X-7 Notes and loans receivableStart of year $3,000,000$5,999,988
X-10c Land, buildings and equipment, netStart of year $320,000$320,000
X-15 Other assetsStart of year $121,667$122,000
X-16 Total assetsStart of year $3,441,732$6,442,103
X-17 Accounts payable and accrued expensesStart of year $1,284$3,034
X-25 Other liabilitiesStart of year $3,127,198$6,127,519
X-26 Total liabilitiesStart of year $3,128,482$6,130,553
X-27 Net assets without donor restrictionsStart of year $313,250$311,550
X-32 Total net assets or fund balancesStart of year $313,250$311,550
X-33 Total liabilities and net assetsStart of year $3,441,732$6,442,103
Part XI · Reconciliation of net assets $311,550 net assets at year end
XI-1 Total revenue$203,793
XI-2 Total expenses$205,493
XI-3 Revenue less expenses−$1,700
XI-4 Net assets at start of year$313,250
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$311,550

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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