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BankNewport Charitable Foundation, Inc.

Company Details

Name: BankNewport Charitable Foundation, Inc.
Jurisdiction: Rhode Island
Entity type: Domestic Non-Profit Corporation
Status: Activ
Date of Organization in Rhode Island: 02 Aug 2022 (3 years ago)
Identification Number: 001744238
ZIP code: 02842
County: Newport County
Principal Address: 184 JOHN CLARKE ROAD, MIDDLETOWN, RI, 02842, USA
Purpose: TO MAKE GRANTS AND PROVIDE FUNDING TO A WIDE VARIETY OF 501(C)(3) NONPROFIT ORGANIZATIONS THAT QUALIFY UNDER THE INTERNAL REVENUE CODE SECTION 170(C) TO RECEIVE TAX DEDUCTIBLE CHARITABLE DONATIONS INCLUDING WITHOUT LIMITATION SUCH 501(C)(3) NONPROFIT ORGANIZATIONS THAT WORK TO PROMOTE AND SUPPORT ECONOMIC AND WORKFORCE DEVELOPMENT, EDUCATION AND FINANCIAL LITERACY, COMMUNITY INVESTMENT AND REVITALIZATION, HEALTH AND HUMANITARIAN SERVICES AND AID, AND ARTS AND CULTURE EITHER WITHIN OR WITHOUT THE STATE OF RHODE ISLAND, AS THE BOARD OF DIRECTORS MAY DETERMINE FROM TIME TO TIME. ALL SUCH OTHER PURPOSES AS ARE PERMISSIBLE FOR A CORPORATION FORMED UNDER CHAPTER 7-6 OF THE GENERAL LAWS OF RHODE ISLAND, AS AMENDED.THE CORPORATION IS ORGANIZED AND SHALL AT ALL TIMES BE OPERATED EXCLUSIVELY OR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 170(C) AND SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (CODE) AND CHAPTER 7-6 OF THE GENERAL LAWS OF RHODE ISLAND, INCLUDING FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS OF PRINCIPAL AND INCOME TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE CODE OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE STATUTE.

Industry & Business Activity

NAICS

813211 Grantmaking Foundations

This U.S. industry comprises establishments known as grantmaking foundations or charitable trusts. Establishments in this industry award grants from trust funds based on a competitive selection process or the preferences of the foundation managers and grantors; or fund a single entity, such as a museum or university. Learn more at the U.S. Census Bureau

Agent

Name Role Address
CORPORATION SERVICE COMPANY Agent 222 JEFFERSON BOULEVARD SUITE 200, WARWICK, RI, 02888, USA

INCORPORATOR

Name Role Address
HOLLIE B. LUSSIER ESQ. INCORPORATOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA

DIRECTOR

Name Role Address
DAVID BAZARSKY DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
TIMOTHY BURNS DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
PETER CAPODILUPO DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
MARYJO CARR DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
JOHN F. MURPHY DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
ROGER NOLAN DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA
JAMES WRIGHT DIRECTOR 184 JOHN CLARKE ROAD MIDDLETOWN, RI 02842 USA

Filings

Number Name File Date
202449236510 Annual Report 2024-03-25
202339441800 Statement of Change of Registered/Resident Agent 2023-07-13
202331302910 Annual Report 2023-03-22
202221876000 Articles of Incorporation 2022-08-02

Tax Exempt

EIN Type of Organization Exempt Organization Status Address Ruling Date
88-2461260 Corporation Unconditional Exemption 184 JOHN CLARKE RD, MIDDLETOWN, RI, 02842-5633 2022-09
In Care of Name -
Group Exemption Number 0000
Subsection Charitable Organization, Educational Organization, Literary Organization, Organization to Prevent Cruelty to Animals, Organization to Prevent Cruelty to Children, Organization for Public Safety Testing, Religious Organization, Scientific Organization
Affiliation Independent - This code is used if the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Classification Government Instrumentality, Title-Holding Corporation, Charitable Organization, Agricultural Organization, Board of Trade, Pleasure, Recreational, or Social Club, Fraternal Beneficiary Society, Order or Association, Voluntary Employees' Beneficiary Association (Non-Govt. Emps.), Domestic Fraternal Societies and Associations, Teachers Retirement Fund Assoc., Benevolent Life Insurance Assoc., Burial Association, Credit Union, Mutual Insurance Company or Assoc. Other Than Life or Marine, Corp. Financing Crop Operations, Supplemental Unemployment Compensation Trust or Plan, Employee Funded Pension Trust (Created Before 6/25/59), Post or Organization of War Veterans, Legal Service Organization, Black Lung Trust, Multiemployer Pension Plan, Veterans Assoc. Formed Prior to 1880, Trust Described in Sect. 4049 of ERISA, Title Holding Co. for Pensions, etc., State-Sponsored High Risk Health Insurance Organizations, State-Sponsored Workers' Compensation Reinsurance, ACA 1322 Qualified Nonprofit Health Insurance Issuers, Apostolic and Religious Org. (501(d)), Cooperative Hospital Service Organization (501(e)), Cooperative Service Organization of Operating Educational Organization (501(f)), Child Care Organization (501(k)), Charitable Risk Pool, Qualified State-Sponsored Tuition Program, 4947(a)(1) - Private Foundation (Form 990PF Filer)
Deductibility Contributions are deductible.
Foundation Private non-operating foundation
Tax Period 2023-12
Asset 10,000,000 to 49,999,999
Income 100,000 to 499,999
Filing Requirement 990 - Not required to file (all other)
PF Filing Requirement 990-PF return
Accounting Period Dec
Asset Amount 12278893
Income Amount 330898
Form 990 Revenue Amount -
National Taxonomy of Exempt Entities Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations
Sort Name -

Publication 78 Data

Description Organizations eligible to receive tax-deductible charitable contributions. Users may rely on this list in determining deductibility of their contributions.
On Publication 78 Data List Yes
Deductibility Type of organization and use of contribution: A private foundation. Deductibility Limitation: 30% (generally)

Determination Letter

Final Letter(s) FinalLetter_88-2461260_BANKNEWPORTCHARITABLEFOUNDATIONINC_08292022_00.tif

Copies of Returns (990, 990-EZ, 990-PF, 990-T)

Organization Name BANKNEWPORT CHARITABLE FOUNDATION INC
EIN 88-2461260
Tax Period 202212
Filing Type E
Return Type 990PF
File View File

Date of last update: 28 Oct 2024

Sources: Rhode Island Department of State