Fabnewport FY2021 filing

Tax-deductible

Newport, RI501(c)(3)EducationEIN 46-3237048Revenue $1.5M in FY2021

On file with the IRSfabnewport.org1 York St, 02840-1141 · Newport, RITax-exempt since Sep 2015Publicly supported charity — 170(b)(1)(A)(vi)

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Inspiring the maker in all of us

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$77K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 5
filings with a surplus
Average surplus $53K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$77K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
18
named funders · $481K
Looks good: 18 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 10 voting members
Looks good: 9 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+45% vs prior year
Spent
$1.1M
To programs
75%
Net assets
$803K
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.5M
FY2022$1.2M
FY2023$1.1M
FY2024$1.1M
Expenses
$1.1M
FY2021▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$919K
FY2021$1.1M
FY2022$1.3M
FY2023$1.2M
FY2024$1.1M
Net assets
$803K
FY2021▲ +101%
Tap a bar for its year
Net assets by fiscal year
FY2020$399K
FY2021$803K
FY2022$662K
FY2023$557K
FY2024$545K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Sep 2015.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $849K Management & general 19% · $214K Fundraising 6% · $64K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $77K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$76,667Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Steven Heath’s $97K as Executive Director is at the 29th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Steven Heath$97,144$77,048$81,756$76,667$70,501
Rachel Dewey——$71,724——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Empowering people to create and innovate through hands-on making experiences.

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Provided by the organization

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3 programs · $849K · in their own filed words · FY2021
01

Newport Experience (NEX)seeks to offer opportunities otherwise not available to young people in Newports North End. At its core NEX is designed to serve students who, because of socio-economic conditions, dont traditionally access the areas extensive array of opportunities.

$583Kprogram expense
02

PVD Young Makers offers programming in the 10 Providence Public Libraries that empower youth to develop leadership, mentoring, technology, and creative thinking skills to make a positive change.

$251Kprogram expense
03

General program allocations

$15Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 18 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$867K
Fees for servicesLn 2g$653K
Other incomeLn 4–11$11K
Money outPt IX
$1.1M
Ln 25
Programscol B$849K
Managementcol C$214K
Fundraisingcol D$64K
Owns and owesPt X
$803K
net assets · Ln 32
Cash and savingsLn 1–2$481K
Total assetsLn 16$806K
LiabilitiesLn 26$3K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$867K
Government grantsLn 1e$172K
Noncash giftsLn 1g$86K
Fundraising eventsLn 1c$1K
Fees for servicesLn 2g$653K
Investment incomeLn 3$140
Other incomeLn 4–11$11K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$126K
SavingsLn 2$355K
Cash and savings togetherLn 1–2$481K
InvestmentsLn 11–13$62K
Land, buildings, equipmentLn 10c$49K
Total assetsLn 16$806K
LiabilitiesLn 26$3K
Net assetsLn 32$803K
OperationsPt I, VI
EmployeesI 561
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$356K$481K
InvestmentsLn 11–13$10K$62K
Land, buildings, equipmentLn 10c$23K$49K
Total assetsLn 16$402K$806K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$399K$803K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$77K$35K$4K$38K
Other salaries and wagesLn 7$690K$544K$135K$11K
Other employee benefitsLn 9$32K$6K$26K
Payroll taxesLn 10$78K$64K$10K$4K
Management feesLn 11a$20K$20K
Accounting feesLn 11c$1K$30$1K
Other fees for servicesLn 11g$74K$64K$3K$7K
Advertising and promotionLn 12$8K$7K$718$356
Office expensesLn 13$16K$13K$1K$983
OccupancyLn 16$25K$12K$13K
TravelLn 17$18K$18K
Conferences, conventions and meetingsLn 19$13K$11K$2K$122
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$9K$3K$6K
Other expenses (24a–d)Ln 24$45K$36K$8K$2K
All other expensesLn 24e$14K$8K$5K$303
Total functional expensesLn 25$1.1M$849K$214K$64K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.1M−$16K$545K 990 PDF
FY2023 $1.1M$1.2M−$127K$557K 990 PDF
FY2022 $1.2M$1.3M−$130K$662K 990 PDF
FY2021 Viewing $1.5M$1.1M$404K$803K 990 PDF
FY2020 $1.1M$919K$136K$399K 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 FY2021 990 (6 parts)
Part I · Summary $1,530,716 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $872,385$866,792
I-9 Program service revenuePrior year $181,795$653,157
I-10 Investment incomePrior year $328$140
I-11 Other revenue$10,627
I-12 Total revenuePrior year $1,054,508$1,530,716
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $646,869$876,788
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $271,783$250,134
I-18 Total expensesPrior year $918,652$1,126,922
I-19 Revenue less expensesPrior year $135,856$403,794
Part VI · Governance 9 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,530,716 across 9 lines filed
VIII-1c Fundraising events$1,299
VIII-1e Government grants$171,841
VIII-1f All other contributions, gifts and grants$693,652
VIII-1g Noncash contributions (included above)$86,130
VIII-1h Total contributions, gifts and grants$866,792
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $653,157$653,157
VIII-3 Investment incomeExcluded from tax $140$140
VIII-8 Net income from fundraising eventsExcluded from tax $10,627$10,627
VIII-12 Total revenueRelated to mission $653,157 · Unrelated business $0 · Excluded from tax $10,767$1,530,716
Part IX · Statement of functional expenses $1,126,922 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $34,650 · Management $3,850 · Fundraising $38,500$77,000
IX-7 Other salaries and wagesPrograms $543,786 · Management $135,181 · Fundraising $10,894$689,861
IX-9 Other employee benefitsPrograms $6,117 · Management $25,683$31,800
IX-10 Payroll taxesPrograms $64,248 · Management $10,241 · Fundraising $3,638$78,127
IX-11a Management feesPrograms $20,442$20,442
IX-11c Accounting feesPrograms $30 · Management $1,390$1,420
IX-11g Other fees for servicesPrograms $64,260 · Management $2,681 · Fundraising $6,681$73,622
IX-12 Advertising and promotionPrograms $6,656 · Management $718 · Fundraising $356$7,730
IX-13 Office expensesPrograms $13,294 · Management $1,431 · Fundraising $983$15,708
IX-16 OccupancyPrograms $12,350 · Management $12,640$24,990
IX-17 TravelPrograms $17,624$17,624
IX-19 Conferences, conventions and meetingsPrograms $11,087 · Management $1,673 · Fundraising $122$12,882
IX-22 Depreciation, depletion and amortizationPrograms $8,223$8,223
IX-23 InsurancePrograms $2,651 · Management $5,932$8,583
IX-24 Other expenses (24a–d)Programs $35,563 · Management $7,667 · Fundraising $2,147$45,377
IX-24e All other expensesPrograms $8,247 · Management $4,983 · Fundraising $303$13,533
IX-25 Total functional expensesPrograms $849,228 · Management $214,070 · Fundraising $63,624$1,126,922
Part X · Balance sheet $805,623 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $250,965$125,552
X-2 Savings and temporary cash investmentsStart of year $104,898$355,036
X-4 Accounts receivableStart of year $11,570$212,305
X-9 Prepaid expenses and deferred chargesStart of year $1,378$1,378
X-10c Land, buildings and equipment, netStart of year $23,096$48,873
X-11 Publicly traded securitiesStart of year $10,348$62,479
X-16 Total assetsStart of year $402,255$805,623
X-17 Accounts payable and accrued expensesStart of year $3,213$2,787
X-26 Total liabilitiesStart of year $3,213$2,787
X-27 Net assets without donor restrictionsStart of year $388,729$689,047
X-28 Net assets with donor restrictionsStart of year $10,313$113,789
X-32 Total net assets or fund balancesStart of year $399,042$802,836
X-33 Total liabilities and net assetsStart of year $402,255$805,623
Part XI · Reconciliation of net assets $802,836 net assets at year end
XI-1 Total revenue$1,530,716
XI-2 Total expenses$1,126,922
XI-3 Revenue less expenses$403,794
XI-4 Net assets at start of year$399,042
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$802,836

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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