Salem Main Street Initiative- Downtown Program

Analysis

Salem Main Street Initiative- Downtown Program is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2022, Salem Main Street Initiative- Downtown Program reported income of $240k and spending of $224k, spending 93% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $139k to $240k (+72%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 62%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Salem Main Street Initiative- Downtown Program sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within MA. Charities of a similar size with the same main cause include Barrington Arts Alive ($240k), Holbrook Community Access and Media Inc ($240k) and Philadelphia Folksong Society ($240k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 57% and program service revenue 43% of the total. Other salaries and wages came to $56k. At year end it held assets of $23k against liabilities of $19k, net assets of $3,266.