2025-07-07T14:59:04-05:00 2024-12-31 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2024-01-01 050317816 NEWPORT RESTORATION FOUNDATION NEWP 4018497300 680 BELLEVUE AVENUE NEWPORT RI 02840 AMELIA BERKOWITZ BOARD CHAIR/PRESIDENT 4018497300 2025-07-07 1 1 PATRICK J MARTIN P00283486 4012742001 2025-06-24 2024 2025-03-06 01:10:19Z AMELIA BERKOWITZ 680 BELLEVUE AVENUE NEWPORT RI 02840 4874164 0 X WWW.NEWPORTRESTORATION.ORG X 1969 RI NRF PROMOTES AND INVESTS IN THE HERITAGE OF THE NEWPORT COMMUNITY, THE TRADITIONAL BUILDING TRADES, AND DORIS DUKE'S FINE AND DECORATIVE ARTS AND COLLECTIONS, FOR THE ENJOYMENT, EDUCATION AND INSPIRATION TO ALL. 5 5 66 18 0 0 3138818 341995 3056689 3353850 342172 745422 80723 122990 6618402 4564257 0 0 0 0 2823339 3163145 0 0 0 3752126 3961837 6575465 7124982 42937 -2560725 40390921 38405901 1496864 1618432 38894057 36787469 X NRF PROMOTES AND INVESTS IN THE HERITAGE OF THE NEWPORT COMMUNITY, THE TRADITIONAL BUILDING TRADES, AND DORIS DUKE'S FINE AND DECORATIVE ARTS AND COLLECTIONS, FOR THE ENJOYMENT, EDUCATION AND INSPIRATION TO ALL. 0 0 3420493 353102 ROUGH POINT IS A MUSEUM, OPEN TO THE PUBLIC, SHARING THE LIFE AND LEGACY OF DORIS DUKE THROUGH STORYTELLING ABOUT THE PEOPLE CONNECTED TO THE HOUSE'S HISTORY, CLIMATE CHANGE RESILIENCY AND HOW IT IMPACTS THE BUILT ENVIRONMENT, AND CULTURAL HERITAGE THROUGH THE FINE AND DECORATIVE ARTS HER FAMILY COLLECTED. THE MUSEUM ALSO INCLUDES AN EXHIBITION ON 18TH CENTURY NEWPORT FURNITURE. 2723694 3036293 THE FOUNDATION OWNS, PRESERVES, AND MAINTAINS APPROXIMATELY 70 18TH AND 19TH CENTURY BUILDINGS, PREDOMINANTLY IN NEWPORT. ALL BUT ONE OF THE HOUSES ARE RENTED TO RESIDENTIAL AND COMMERCIAL TENANT STEWARDS. THE VERNON HOUSE IS ONE OF THE MOST SIGNIFICANT BUILDINGS IN NEWPORT, CURRENTLY HOSTING CONTEMPORARY DIALOGUE, COMMUNITY ENGAGEMENT, AND A PRESERVATION LEARNING LAB FOR THE HISTORIC TRADES INITIATIVE. 106970 WHITEHORNE HOUSE WAS A MUSEUM, DISPLAYING 18TH CENTURY NEWPORT FURNITURE AND RELATED DECORATIVE ARTS. THIS COLLECTION IS NOW HOUSED AS AN EXHIBITION IN ROUGH POINT. THE BUILDING IS OPEN BY APPOINTMENT ONLY, AS THE FOUNDATION RESEARCHES THE HISTORY OF THE HOUSE TO BETTER INFORM THE PROPERTIES FUTURE. 78224 PRESCOTT FARM FEATURES A COLLECTION OF HISTORIC BUILDINGS AND A WALKING TRAIL. IT FUNCTIONS AS A PUBLIC PARK AND IS OPEN DAILY FROM DAWN TO DUSK FOR PUBLIC ENJOYMENT. 78224 6329381 1 1 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 23 0 1 66 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 RI X THE ORGANIZATION 4018497300 680 BELLEVUE AVENUE NEWPORT RI 02840 FRANKLIN VAGNONE PRESIDENT/ EXECUTIVE DIRECTOR (TO 8/24) 0.40 X X 348703 0 24599 JAMES ROSS BOARD CHAIR/PRESIDENT (TO 4/24) 0.40 X X 0 0 0 AMELIA AMY BERKOWITZ BOARD CHAIR/PRESIDENT (AS 4/24) 0.20 X X 0 0 0 C HUGH HILDESLEY VICE CHAIR/VICE PRESIDENT (AS OF 4/24) 0.20 X X 0 0 0 DR M THERESE ANTONE TREASURER 0.20 X X 0 0 0 MIKEL FOLCARELLI SECRETARY 0.20 X X 0 0 0 EDITH MCBEAN MEMBER AT LARGE 0.20 X 0 0 0 PHILIP MARSHALL MEMBER AT LARGE (TO 12/24) 0.20 X 0 0 0 AMY ELIZABETH WINSOR CHIEF OPERATING OFFICER & FINANCE DIRECTOR 40.00 X 155576 0 18677 ALYSSA LOZUPONE DIRECTOR OF PRESERVATION 40.00 X 120233 0 13131 624512 0 56407 3 0 1 0 LIGHTHOUSE REMODELING 480 OLIPHANT LANE MIDDLETOWN RI 02842 ROOF 247415 MAQUETTE FINE ART SERVICES LLC 48-49 35TH STREET 2ND FLOOR LONG ISLAND NY 11101 STORAGE 174768 2 183501 158494 19580 341995 RENTAL INCOME 532000 3036293 3036293 ADMISSIONS 713990 306337 306337 PROGRAM INCOME 713990 11220 11220 3353850 353497 353497 647896 249417 6554 398479 -6554 391925 391925 45650 183501 53936 -8286 -8286 35545 0 35545 35545 MISCELLANOUS 621610 95731 95731 95731 4564257 3389395 0 832867 547555 547555 2107517 1970467 137050 77005 75646 1359 219303 206445 12858 211765 175912 35853 62036 60943 1093 44764 43975 789 315445 309401 6044 68378 68378 425294 398738 26556 90488 84838 5650 1184421 1180202 4219 22235 15493 6742 1265733 1265733 438224 430853 7371 DUES AND SUBSCRIPTION 38612 36201 2411 BAD DEBT EXPENSE 5386 5386 DONATIONS 821 770 51 7124982 6329381 795601 0 2621065 3268875 17381 15813 2929290 28000 62663 55124 280167 268970 46344042 22303216 24498769 24040826 9734945 10531938 246641 196355 40390921 38405901 717719 980059 779145 638373 1496864 1618432 X 31859333 32786756 7034724 4000713 38894057 36787469 40390921 38405901 -2560725 454137 0 X X 0 1 X 1 0 X 2975315 3040616 3279900 3138818 341995 12776644 2311932 2691427 2843904 3090214 3434954 14372431 5287247 5732043 6123804 6229032 3776949 27149075 2781120 2636120 2730881 2907917 73180 11129218 0 2781120 2636120 2730881 2907917 73180 11129218 16019857 369851 199919 194239 321694 353497 1439200 369851 199919 194239 321694 353497 1439200 153707 158649 81995 95731 490082 5657098 6085669 6476692 6632721 4226177 29078357 0.55090 0.49240 0.04950 0.04670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0.13 1 0 0 1 1 8.00 0 X X X X 0 5598431 5598431 37709072 20692898 17016174 1419277 1143409 275868 1617262 466909 1150353 24040826 VANGUARD COLLECTIONS CARE FUND 9433912 F VANGUARD PRESERVATION FUND 1098026 F 10531938 TENANT SECURITY DEPOSIT 187692 ASSET RETIREMENT OBLIGATION 243520 OPERATING LEASE PAYABLE 207161 638373 X PART III, LINE 4: ROUGH POINT, DORIS DUKE'S NEWPORT MANSION WHICH IS HOME TO A SIGNIFICANT COLLECTION OF EUROPEAN PAINTINGS, FURNITURE, AND TEXTILES, AND OTHER EUROPEAN AND ASIAN DECORATIVE ARTS; ROUGH POINT ALSO INCLUDES AND EXHIBIT OF 18TH AND EARLY 19TH CENTURY NEWPORT FURNITURE PREVIOUSLY DISPLAYED IN THE WHITEHORNE MUSEUM. PART X, LINE 2: THE FOUNDATION IS A PUBLIC CHARITY EXEMPT FROM INCOME TAXES IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME IF INCOME FROM THOSE ACTIVITIES MEETS CERTAIN LEVELS. MANAGEMENT HAS DETERMINED THAT THOSE INCOME LEVELS WERE NOT MET FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. MANAGEMENT BELIEVES THAT THE FOUNDATION OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE STATE AND FEDERAL LEVEL. THE FOUNDATION ANNUALLY FILES IRS FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THEY WERE FILED. THE FOUNDATION CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. DORIS DUKE PRESERVATION AWARD 229151 183501 45650 733 32030 21173 229151 183501 45650 733 32030 21173 53936 -8286 X 1 1 X X X 0 0 0 0 0 0 0 0 0 FRANKLIN VAGNONE PRESIDENT/ EXECUTIVE DIRECTOR (TO 8/ 299825 0 0 0 48878 0 7087 0 17512 0 373302 0 0 0 AMY ELIZABETH WINSOR CHIEF OPERATING OFFICER & FINANCE DI 151673 0 3173 0 730 0 6971 0 11706 0 174253 0 0 0 PART I, LINE 1A FRANKLIN VAGNONE'S CONTRACT PROIVIDES HIM WITH RESIDENTIAL HOUSING (NRF'S OWNED PROPERTY). THE FAIR MARKET VALUE OF RENT IN 2024 WAS $48,000 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS AND REVIEWED BY MANAGEMENT. ONCE ALL ARE SATISFIED WITH THE FORM, IT IS FINALIZED AND A COPY IS SENT TO ALL BOARD MEMBERS. AT THE SUBSEQUENT BOARD MEETING THE BOARD IS ASKED IF THEY HAVE ANY QUESTIONS OR COMMENTS AND A GENERAL REVIEW OF THE FORM IS CONDUCTED BY MANAGEMENT. REVISIONS, CORRECTIONS, ETC. ARE MADE AS NECESSARY. SUBSEQUENT TO THIS MEETING THE FORM IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES MUST DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST TO THE PRESIDENT OF NRF AND MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT MUST DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST TO THE BOARD OF DIRECTORS. NRF SHALL NOT PROCEED WITH OR CONTINUE ANY TRANSACTION OR RELATIONSHIP INVOLVING AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST WITHOUT THE APPROVAL OF THE PRESIDENT OR THE BOARD OF DIRECTORS, AS APPLICABLE. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, DESIGNATED, INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCT A PERFORMANCE REVIEW AND EVALUATION OF THE PRESIDENT. THE REVIEW ALSO ESTABLISHES THE INDIVIDUAL'S COMPENSATION FOR THE FOLLOWING YEAR. THE PROCESS INVOLVES EVALUATION OF THE INDIVIDUAL. THE REVIEW AND DECISION ARE NOTED IN THE RECORDS OF THE EXECUTIVE COMMITTEE. IN THE EVENT THE PRESIDENT COMPENSATION IS PROPOSED TO BE INCREASED BY MORE THAN THE PERCENTAGE INCREASE GIVEN GENERALLY TO EMPLOYEES ACROSS THE BOARD, THE EXECUTIVE COMMITTEE WILL REVIEW COMPARABLE COMPENSATION DATA FROM SIMILAR ORGANIZATIONS AND OBTAIN SUCH OTHER INFORMATION AS MAY BE NECESSARY TO INDICATE THAT THE PROPOSED COMPENSATION IS REASONABLE. THE PROPOSED COMPENSATION IS PRESENTED TO THE BOARD FOR APPROVAL AND THE BOARD'S DELIBERATION AND DECISION ARE NOTED IN THE MINUTES OF THE MEETING. THE PRESIDENT ESTABLISHES THE COMPENSATION OF THE SENIOR MANAGEMENT TEAM AND REVIEWS THE PERFORMANCE EVALUATIONS AND RECOMMENDATIONS WITH THE EXECUTIVE COMMITTEE. THE EVALUATIONS AND COMPENSATION ARE DISCUSSED BY THE EXECUTIVE COMMITTEE, BUT NO VOTE OF APPROVAL OF THE PRESIDENT'S DECISION BY THE BOARD OR EXECUTIVE COMMITTEE IS REQUIRED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BY-LAWS), ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. THE ORGANIZATION CHARGES FOR THE COPIES IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. QUEEN ANNE SQUARE MAINTENENCE TRUST FKA DORIS DUKE MONUMENT FOUNDATION 680 BELLEVUE AVENUE NEWPORT RI 02840 272075139 SUPPORT MAINTENCE OF QUEEN ANNE SQUARE AND PUBLIC ART INSTALLATION RI 501(C)(3) PF NEWPORT RESTORATION FOUNDATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0