Overview
What is Newport Inc?
Newport Inc is a nonprofit organization situated in Spartanburg, South Carolina. Their primary mission is to provide housing for individuals with chronic mental illnesses, largely those with low income. They achieve this by operating a 20-unit apartment community, which is assisted by the U.S. Department of Housing and Urban Development (HUD) under Section 811 of the National Affordable Housing Act of 1990. This housing initiative aims to provide a safe and supportive living environment for those in need.
Is Newport Inc legitimate?
Newport Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newport Inc 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: $21,192
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What is the mission statement of Newport Inc?
Newport Inc's mission is centered around providing housing for individuals with chronic mental illness who are financially disadvantaged. They accomplish this by operating a 20-unit apartment community under Section 811 of the National Affordable Housing Act of 1990, with assistance from the U.S. Department of Housing and Urban Development (HUD). This housing is regulated to ensure it caters specifically to this population, thereby contributing to their well-being and overall quality of life.
What is the revenue of Newport Inc?
Newport Inc's revenue in 2024 was $107,858.
Who are the executives of Newport Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Newport Inc?
Newport Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Newport Inc
Newport Inc, as a nonprofit organization, is committed to providing housing for individuals who are chronically mentally ill and have low income. They accomplish this mission by operating a HUD-assisted apartment community, regulated under Section 811 of the National Affordable Housing Act of 1990. This community, which currently houses 20 units, is dedicated to providing a safe and supportive living environment for these individuals, ensuring they have access to the necessary resources to improve their quality of life. Newport Inc's mission is crucial in addressing the housing needs of this vulnerable population, offering them a stable and secure place to call home.
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Impact
October, 2024
Newport Inc plays a crucial role in addressing the housing needs of low-income individuals who are chronically mentally ill. By operating a 20-unit apartment community regulated under Section 811 of the National Affordable Housing Act of 1990, Newport Inc provides stable and supportive housing solutions tailored for a vulnerable population. This initiative not only offers secure living environments but also fosters a sense of community and belonging among residents.
The impact of Newport Inc extends beyond mere housing; it contributes to improved mental health outcomes by providing residents with a safe space that encourages recovery and stability. This approach helps reduce homelessness and its associated challenges, alleviating pressure on local services and creating a healthier community overall. By ensuring access to affordable and adequate housing, Newport Inc empowers individuals to regain independence and pursue personal goals, which ultimately enhances their quality of life.
This information is meant to be a general summary of Newport Inc. 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 2024.
- Investment Income: $552
- Program Service Revenue: $107,306
- Gross Receipts: $107,858
Assets and Liabilities:
- Total Assets: $324,376
- Total Liabilities: $886,405
- Net Assets: -$562,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$107,306
Organization Details
Founding Year
1991
Principal Officer
Ron Laughridge
NTEE Category
Code: L20Z - Housing
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