Civic Intelligence

Rose Island Lighthouse and Fort Hamilton

990 • Fiscal year 2018 • EIN 05-0416357

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 11, 2019

Organization Profilewww.roseislandlighthouse.org
PO Box 1419Newport, RI 02840

(401) 847-4242

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.11x

Higher debt load relative to assets than 54% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

0.68x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

14th percentile

-20%

Higher net margin than 14% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

39th percentile

$25,000

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

41st percentile

-1.1%

Faster asset growth than 41% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

17th percentile

-15%

Faster revenue growth than 17% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets54th percentile

Assets

Down

$1,673,265

Down $19,038 (-1.1%) from 2017

Net Assets

Down

$1,487,587

Down $54,152 (-3.5%) from 2017

Liabilities

Up

$185,678

Up $35,114 (+23%) from 2017

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin14th percentile

Revenue

Down

$273,626

Down $48,011 (-15%) from 2017

Expenses

Down

$327,778

Down $59,394 (-15%) from 2017

Net Income

Up

-$54,152

Up $11,383 (+17%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,499,166Liabilities 2010: $189,391Net Assets 2010: $1,309,7752010Assets 2011: $1,506,899Liabilities 2011: $220,853Net Assets 2011: $1,286,0462011Assets 2012: $1,512,194Liabilities 2012: $265,917Net Assets 2012: $1,246,2772012Assets 2013: $1,568,870Liabilities 2013: $218,361Net Assets 2013: $1,350,5092013Assets 2014: $1,697,092Liabilities 2014: $206,281Net Assets 2014: $1,490,8112014Assets 2015: $1,711,005Liabilities 2015: $201,110Net Assets 2015: $1,509,8952015Assets 2016: $1,771,513Liabilities 2016: $164,239Net Assets 2016: $1,607,2742016Assets 2017: $1,692,303Liabilities 2017: $150,564Net Assets 2017: $1,541,7392017Assets 2018: $1,673,265Liabilities 2018: $185,678Net Assets 2018: $1,487,5872018Assets 2019: $1,600,987Liabilities 2019: $154,542Net Assets 2019: $1,446,4452019Assets 2020: $1,606,046Liabilities 2020: $351,589Net Assets 2020: $1,254,4572020Assets 2021: $1,596,234Liabilities 2021: $449,138Net Assets 2021: $1,147,0962021Assets 2022: $1,777,877Liabilities 2022: $278,974Net Assets 2022: $1,498,9032022Assets 2023: $1,717,818Liabilities 2023: $221,997Net Assets 2023: $1,495,8212023Assets 2024: $1,743,499Liabilities 2024: $133,705Net Assets 2024: $1,609,7942024

Highlighted filing

2018

Assets$1,673,265
Liabilities$185,678
Net Assets$1,487,587
Open 2018 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $485,9162010Expenses 2011: $329,3432011Expenses 2012: $285,7312012Revenue 2013: $415,623Expenses 2013: $311,391Net Income 2013: $104,2322013Revenue 2014: $494,403Expenses 2014: $354,101Net Income 2014: $140,3022014Revenue 2015: $384,891Expenses 2015: $365,807Net Income 2015: $19,0842015Revenue 2016: $447,045Expenses 2016: $349,666Net Income 2016: $97,3792016Revenue 2017: $321,637Expenses 2017: $387,172Net Income 2017: -$65,5352017Revenue 2018: $273,626Expenses 2018: $327,778Net Income 2018: -$54,1522018Revenue 2019: $306,660Expenses 2019: $309,814Net Income 2019: -$3,1542019Revenue 2020: $91,634Expenses 2020: $283,622Net Income 2020: -$191,9882020Revenue 2021: $200,019Expenses 2021: $307,380Net Income 2021: -$107,3612021Revenue 2022: $581,833Expenses 2022: $233,235Net Income 2022: $348,5982022Revenue 2023: $312,739Expenses 2023: $307,821Net Income 2023: $4,9182023Revenue 2024: $562,907Expenses 2024: $434,302Net Income 2024: $128,6052024

Highlighted filing

2018

Revenue$273,626
Expenses$327,778
Net Income-$54,152
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$286,874
Mission and Program Overview

Mission

The Rose Island Lighthouse Foundation is a not-for-profit corporation whose mission is to preserve the historic and environmental integrity of Rose Island. It operates to maintain and preserve the Rose Island Lighthouse as a historic monument, to provide education and public access for all people, and to preserve the surrounding grounds of the island as a natural habitat.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,625,174$1,619,718▼ $5,456
Savings and Temporary Cash Investments$53,482$21,824▼ $31,658
Cash and Non-Interest-Bearing Accounts$444$16,370▲ $15,926
Inventories for Sale or Use$8,599$7,511▼ $1,088
Accounts Receivable$1,432$5,957▲ $4,525
Prepaid Expenses and Deferred Charges$3,172$1,885▼ $1,287
Loans From Officers Directors$500--
Total Assets$1,692,303$1,673,265▼ $19,038
Liabilities
Accounts Payable and Accrued Expenses$15,671$119,731▲ $104,060
Deferred Revenue$83,440--
Unsecured Notes Loans Payable-$37,947-
Mortgage Notes Payable Secured by Investment Property$50,953$28,000▼ $22,953
Total Liabilities$150,564$185,678▲ $35,114
Net Assets / Fund Balance
Unrestricted Net Assets$1,476,028$1,465,697▼ $10,331
Temporarily Rstr Net Assets$65,711$21,890▼ $43,821
Total Net Assets Fund Balance$1,541,739$1,487,587▼ $54,152
Total Liabilities and Net Assets / Fund Balance$1,692,303$1,673,265▼ $19,038

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$948,171$682,643$1,630,814
Land$657,218-$657,218
Equipment$14,329$65,131$79,460
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sharon HusseyPrior Executive DirectorPT$25,000$25,000

Board Members and Trustees

NameTitle
Lisa MorrisonPresident
Eli DanaVice President
Adam ThayerDirector
Ally MaloneyDirector
Deborah ArnoldDirector
George DevineDirector
Gil StringerDirector
Katherine Hoepner-KarleDirector
Lesley Brooking-ElmsDirector
William SerthDirector
Joanne MorianSecretary
Joseph TamburoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$55,361
Program Service Revenue
$206,033
Investment Income
$43
Other Revenue
$12,189
All Other Contributions
$46,346
Change in Net Assets
$-54,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$190,495
Other Expenses$137,283
Total Fundraising Expense$2,699
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$102,249$25,158-$127,407
Occupancy$27,084$4,439-$31,523
Current Officers, Directors, Trustees, and Key Employees$12,500$10,000$2,500$25,000
Payroll Taxes$17,054$5,042$17$22,113
Other Employee Benefits$12,780$3,195-$15,975
Office Expenses$698$13,266-$13,964
Insurance$2,477$7,194-$9,671
Fees for Services Legal-$5,923-$5,923
Depreciation Depletion$4,593$1,148-$5,741
All Other Expenses$3,304$298$182$3,784
Fees for Services Other$2,000$1,445-$3,445
Other Expenses$2,056$9,847-$2,056
Advertising$1,519--$1,519
Interest-$1,475-$1,475
Travel$93--$93
Total Functional Expenses$236,649$88,430$2,699$327,778
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,845
Fundraising Direct Expenses$3,720
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$500--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“All members of The Rose Island Lighthouse Foundation, Inc. pay membership contributions in order to have a voice in electing the governing board.”

Form 990, Part VI, Section A, line 7A

“A slate of nominees to the board of directors goes out to all members of The Rose Island Lighthouse Foundation, Inc. along with an invitation to the Foundation's annual meeting. At that meeting, the slate of officers and directors is presented for vote by the members. The vote is taken to approve the board that makes the decisions for the Foundation for that year.”

Form 990, Part VI, Section B, line 11B

“The Form 990 is reviewed and approved by the bookkeeper, executive director and treasurer before filing. The full board of directors is notified that it is now available for review.”

Form 990, Part VI, Section C, line 19

“The Foundation's by-laws, articles of incorporation, IRS tax exempt letter and financial statements are all available upon request.”

Filing and Contact Details

Filer

Filer Name
The Rose Island Lighthouse Foundation
EIN
05-0416357
Phone
4018474242
Address
PO Box 1419, Newport, RI 02840

Signing Officer

Name
Brian Tefft
Title
Executive Director
Phone
4018474242
Signed
2019-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Tefft
Formed
1984
Legal Domicile
Ri
Voting Board Members
13
Independent Board Members
13
Employees
7
Volunteers
15

Preparer

Firm
Aaronson Lavoie Streitfeld Diaz & Co PC
Address
1604 Broad Street, Cranston, RI 02905
Preparer
Denise M Lavoie CPA
Phone
4012230205
Supplemental Narrative

Financial Statement Notes

Part III, Line 4:

“The Foundation's collections and historical treasures consist of the Rose Island Lighthouse and all its memorabilia and artifacts displayed as well as the refurbished Fort Hamilton Barracks on Rose Island. In 1986, the City of Newport formally appointed the Foundation as the City's agent and charged it with the responsibility of rehabilitating and maintaining Rose Island Lighthouse. The resolution states that any income in excess of costs of repairs, rehabiliation and restoration and maintenance would be used by the City of Newport for public historic preservation, parks or recreational purposes. The majority of the island is preserved as a bird and wildlife santuary. A conservation easement exists on the 18 acres that is Rose Island. Its purpose is to assure that the premises will be retained forever in its open, natural, historic, scenic, ecological and educational condition and to prevent any use of the premises that will significantly impair or interfere with the conservation values of the premises.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
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IRS990/MissionDesc0The Rose Island Lighthouse Foundation is a not-for-profit corporation whose mission is to preserve the historic and environmental integrity of Rose Island. It operates to maintain and preserve the Rose Island Lighthouse as a historic monument, to provide education and public access for all people, and to preserve the surrounding grounds of the island as a natural habitat.
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IRS990/OtherExpensesGrp/Desc2Supplies
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0127407
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PayrollTaxesGrp/TotalAmt022113
IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0Brian Tefft
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd1561520
IRS990/ProgramServiceRevenueGrp/BusinessCd2480000
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/Desc0Lighthouse keeping
IRS990/ProgramServiceRevenueGrp/Desc1Tours and admissions
IRS990/ProgramServiceRevenueGrp/Desc2Island transportation
IRS990/ProgramServiceRevenueGrp/Desc3Rental income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0140367
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt131836
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35000
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt131836
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt228830
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35000
IRS990/ProgSrvcAccomActy2Grp/Desc0Preservation and restoration of Rose Island Lighthouse, Fort Hamilton Barracks and island environment including capital projects for restoration of all structures and improving public access. Maintaining the natural environmental integrity of the remaining island area as natural habitat for wild life.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
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IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation's collections and historical treasures consist of the Rose Island Lighthouse and all its memorabilia and artifacts displayed as well as the refurbished Fort Hamilton Barracks on Rose Island. In 1986, the City of Newport formally appointed the Foundation as the City's agent and charged it with the responsibility of rehabilitating and maintaining Rose Island Lighthouse. The resolution states that any income in excess of costs of repairs, rehabiliation and restoration and maintenance would be used by the City of Newport for public historic preservation, parks or recreational purposes. The majority of the island is preserved as a bird and wildlife santuary. A conservation easement exists on the 18 acres that is Rose Island. Its purpose is to assure that the premises will be retained forever in its open, natural, historic, scenic, ecological and educational condition and to prevent any use of the premises that will significantly impair or interfere with the conservation values of the premises.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 4:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All members of The Rose Island Lighthouse Foundation, Inc. pay membership contributions in order to have a voice in electing the governing board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A slate of nominees to the board of directors goes out to all members of The Rose Island Lighthouse Foundation, Inc. along with an invitation to the Foundation's annual meeting. At that meeting, the slate of officers and directors is presented for vote by the members. The vote is taken to approve the board that makes the decisions for the Foundation for that year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is reviewed and approved by the bookkeeper, executive director and treasurer before filing. The full board of directors is notified that it is now available for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Foundation's by-laws, articles of incorporation, IRS tax exempt letter and financial statements are all available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt01673265
IRS990/TotalAssetsGrp/BOYAmt01692303
IRS990/TotalAssetsGrp/EOYAmt01673265

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,673,265
Liabilities
$185,678
Net assets
$1,487,587
Revenue
$273,626
Expenses
$327,778
Net income
-$54,152
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.74$0.13$1.61$0.56$0.43$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.72$0.22$1.50$0.31$0.31$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.78$0.28$1.50$0.58$0.23$0.35
2021Detailed filing. Detailed filing data is available for this year.$1.60$0.45$1.15$0.20$0.31$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.61$0.35$1.25$0.09$0.28$0.19
2019Detailed filing. Detailed filing data is available for this year.$1.60$0.15$1.45$0.31$0.31$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.67$0.19$1.49$0.27$0.33$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.69$0.15$1.54$0.32$0.39$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.77$0.16$1.61$0.45$0.35$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.71$0.20$1.51$0.38$0.37$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.70$0.21$1.49$0.49$0.35$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.57$0.22$1.35$0.42$0.31$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.27$1.25$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.22$1.29$0.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.19$1.31$0.49