Nonprofit · EIN 56-1928319
NEWTON DEPOT AUTHORITY
Tax-exempt (reinstated) · NEWTON, NC 28658
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $284,579 | $146,097 | $138,482 | $1,707,317 | $4,847 | $1,702,470 |
| June 30, 2024 | 990 | $114,603 | $99,342 | $15,261 | $1,569,674 | $5,686 | $1,563,988 |
| June 30, 2023 | 990 | $213,658 | $161,690 | $51,968 | $1,552,144 | $3,417 | $1,548,727 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $255,314
- Membership dues
- $12,890
- Program service revenue
- $0
- Investment income
- $377
- Net rental income
- $10,000
- Net income from sales of inventory
- -$2,694
- Other revenue
- $28,888
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $19,267
- Salaries, compensation and benefits (total)
- $20,886
- Professional fundraising fees
- $0
- Depreciation
- $16,552
- Program services (functional)
- $91,311
- Management and general (functional)
- $53,783
- Fundraising (functional)
- $1,003
Balance sheet and other
- Total assets, start of year
- $1,569,674
- Total assets, end of year
- $1,707,317
- Total liabilities, end of year
- $4,847
- Net assets, end of year
- $1,702,470
- Land, buildings and equipment
- $1,295,958
- Net assets without donor restrictions
- $1,702,470
- Gross unrelated business income
- $377
- Gross receipts
- $338,031
- Employees
- 0
- Volunteers
- 50
- Year formed
- 1995
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dennis Schlossman | Director Trustee or director | 1 | $0 |
| Richard J Colton | Secretary Trustee or director | 1 | $0 |
| Henry Wepner | Treasurer Trustee or director | 1 | $0 |
| Beverly Danner | Director Trustee or director | 1 | $0 |
| James S Abernethy | Vice-Chair Trustee or director | 1 | $0 |
| Judy Ward | Director Trustee or director | 1 | $0 |
| Dale E Spencer | Director Trustee or director | 1 | $0 |
| Terry L Blevins | Director Trustee or director | 1 | $0 |
| Jerome E Bolick | Member Emeritus Trustee or director, Officer | 3 | $0 |
| Johnny D Graybeal | Director Trustee or director | 1 | $0 |
| Vincent E Ferretti III | Chair Trustee or director, Officer | 3 | $0 |
| George Ritchie | Member Emeritus Trustee or director | 1 | $0 |
| Ronald S Bruschi | Director Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dennis Schlossman | Director Trustee or director | 1 | $0 |
| Richard J Colton | Secretary Trustee or director | 1 | $0 |
| Henry Wepner | Treasurer Trustee or director | 1 | $0 |
| Beverly Danner | Director Trustee or director | 1 | $0 |
| James S Abernethy | Vice-Chair Trustee or director | 1 | $0 |
| Judy Ward | Director Trustee or director | 1 | $0 |
| Terry L Blevins | Director Trustee or director | 1 | $0 |
| Jerome E Bolick | Member Emeritus Trustee or director, Officer | 3 | $0 |
| Johnny D Graybeal | Director Trustee or director | 1 | $0 |
| Vincent E Ferretti III | Chair Trustee or director, Officer | 3 | $0 |
| Ronald S Bruschi | Director Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dennis Schlossman | Director Trustee or director | 1 | $0 |
| Richard J Colton | Secretary Trustee or director | 1 | $0 |
| Henry Wepner | Treasurer Trustee or director | 1 | $0 |
| Beverly Danner | Director Trustee or director | 1 | $0 |
| James S Abernethy | Vice-Chair Trustee or director | 1 | $0 |
| Judy Ward | Director Trustee or director | 1 | $0 |
| Roy A Johnson | Director Trustee or director | 1 | $0 |
| Terry L Blevins | Director Trustee or director | 1 | $0 |
| Jerome Bolick | Member Emeritus Trustee or director, Officer | 3 | $0 |
| Johnny D Graybeal | Director Trustee or director | 1 | $0 |
| Vincent E Ferretti III | Chair Trustee or director, Officer | 3 | $0 |
| Dr Pendleton G Waldron | Director Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1123 N MAIN AVE, NEWTON, NC 28658-3039
- In care of
- % VINCENT FERRETTI III
- Principal officer (990 for 2024)
- Vincent E Ferretti III
- Signed the 990
- Vincent E Ferretti III, Chair
- Phone
- (828) 234-3353
- Return prepared by
- DEBORA B WENTZ
Mission
To preserve and maintain the Newton Depot property and to establish a regional railroad museum with an educational component.
Program accomplishments
- Expenses incured to maintain the property, expenses for office supplies to maintain the organization's records.Expenses $91,311
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1928319
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2019
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A50)
- Assets (IRS master file)
- $1,707,317
- Income (IRS master file)
- $338,031
Revocation and reinstatement
- Exemption revoked
- November 15, 2018
- Posted by the IRS
- August 12, 2019
- Reinstated
- Effective November 15, 2018
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $284,579 | $146,097 | $1,707,317 | XML |
| 990 | June 2024 | $114,603 | $99,342 | $1,569,674 | XML |
| 990 | June 2023 | $213,658 | $161,690 | $1,552,144 | XML |
| 990 | June 2022 | $198,422 | $81,544 | $1,570,200 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1928319).
Questions about NEWTON DEPOT AUTHORITY
- What is the EIN of NEWTON DEPOT AUTHORITY?
- The employer identification number (EIN) of NEWTON DEPOT AUTHORITY is 56-1928319.
- Is NEWTON DEPOT AUTHORITY tax-exempt?
- Yes. The IRS revoked its exemption on November 15, 2018 and reinstated it effective November 15, 2018.
- Are donations to NEWTON DEPOT AUTHORITY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEWTON DEPOT AUTHORITY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEWTON DEPOT AUTHORITY due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEWTON DEPOT AUTHORITY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of NEWTON DEPOT AUTHORITY?
- The 990 for the year ended June 30, 2025 names Vincent E Ferretti III.
- Who are the officers and directors of NEWTON DEPOT AUTHORITY?
- The 990 for the year ended June 30, 2025 lists 13 people; 0 received compensation from the organization.
- How much revenue does NEWTON DEPOT AUTHORITY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $284,579, expenses of $146,097 and total assets of $1,707,317 at year end.
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All nonprofits in NEWTON · North Carolina · Arts, culture and humanities