Main South Community Development Corporation

Analysis

Main South Community Development Corporation is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Main South Community Development Corporation reported income of $1.6m and spending of $1.6m, spending 103% of its income. Across the 6 years on record, from June 2019 to December 2023, income fell from $1.8m to $1.6m (-14%), an average of -2.9% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Main South Community Development Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Tourism Tomorrow Inc ($1.6m), Saranac Lake Civic Center Inc ($1.6m) and Rubicon Enterprises Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $74k (4.5% of expenses). Other salaries and wages came to $336k. At year end it held assets of $15.5m against liabilities of $10.7m, net assets of $4.8m. It reported 14 employees.