Overview
What is Newton Depot Authority?
Newton Depot Authority is a nonprofit organization based in Newton, North Carolina. Their primary focus is to preserve and maintain the Newton Depot property, with the aim of establishing a regional railroad museum. The museum serves as a platform to educate visitors about railroad history. To achieve these goals, the organization incurs expenses for property maintenance and procures necessary office supplies to manage its records. The mission of Newton Depot Authority extends beyond preservation, as it strives to expand the museum, offering educational opportunities to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Newton Depot Authority has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 73%. This score primarily reflects the organization's accountability and finance practices, suggesting that while there are strengths, improvements are needed for better performance. The organization demonstrates strong governance with 100% independent board members and no material diversion of assets, indicating a commitment to transparency.
In terms of financial health, the organization shows a favorable liabilities to assets ratio of 0.22%, which suggests solid financial stability. Additionally, the program expense ratio stands at 74.66%, showing that a significant portion of expenses is allocated towards its programs, which is a positive indicator of its operational efficiency. The documentation of board meeting minutes also reflects good practices in accountability.
Despite these strengths, the overall rating indicates that the organization has areas to improve, particularly in aspects not captured by the current score. Continued monitoring and enhancements in practices could lead to a higher rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Newton Depot Authority legitimate?
Newton Depot Authority is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newton Depot Authority submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $15,701
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What is the mission statement of Newton Depot Authority?
The Newton Depot Authority's mission is focused on preserving and maintaining the Newton Depot property, aiming to establish a regional railroad museum with an educational component. This organization is committed to expanding the museum, thereby preserving railroad history, and providing enriching educational opportunities for visitors. Their activities involve managing the property expenses and maintaining organizational records through the use of office supplies.
Who is the CEO of Newton Depot Authority?
Vincent E Ferretti Iii is the Director of Newton Depot Authority.
What is the revenue of Newton Depot Authority?
Newton Depot Authority's revenue in 2022 was $198,422.
Who are the executives of Newton Depot Authority and what are their salaries?
There 50 volunteers at Newton Depot Authority.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Newton Depot Authority?
Newton Depot Authority's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Newton Depot Authority
The Newton Depot Authority, a nonprofit organization, is committed to preserving and safeguarding the Newton Depot property. Their primary mission is to establish a regional railroad museum, incorporating an educational component. This endeavor aims to uphold the rich history of railroads while offering educational opportunities for visitors. To achieve this goal, the organization incurs expenses related to the upkeep of the property and procures necessary office supplies for recording their operations. The Newton Depot Authority's role is to ensure the preservation and maintenance of the Newton Depot, while fostering an engaging and informative museum experience for its visitors.
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Impact
October, 2024
The Newton Depot Authority plays a significant role in preserving railroad history and enhancing educational opportunities in the community. By focusing on the expansion of the museum, the Authority not only safeguards important historical artifacts but also fosters a deeper understanding of the region's railroad heritage. This initiative enriches local culture and promotes tourism, attracting visitors interested in historical education and the arts.
Additionally, the Authority’s efforts to maintain the property and provide necessary resources, such as office supplies for record-keeping, ensure that the museum operates efficiently and effectively. The establishment of a regional railroad museum serves not just as a repository of history but as an active educational platform, making history accessible and engaging to all visitors. Overall, the Newton Depot Authority's impact extends beyond preservation; it invigorates the local community through cultural enrichment and educational outreach.
This information is meant to be a general summary of Newton Depot Authority. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $228
- Gross Receipts: $270,484
Assets and Liabilities:
- Total Assets: $1,570,200
- Total Liabilities: $73,441
- Net Assets: $1,496,759
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Organization Details
Founding Year
1995
Phone
(828) 234-3353Principal Officer
Vincent E Ferretti Iii
Main Address
P O BOX 267, NEWTON, NC, 28658
NTEE Category
Code: A50 - Arts
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