Connecticut Main Street Center Inc

Analysis

Connecticut Main Street Center Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in August 2000, 26 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 June 2024, Connecticut Main Street Center Inc reported income of $911k and spending of $740k, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $400k to $911k (+128%), an average of +18% a year. The sharpest change came in the year to June 2024, when income rose by 42%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Connecticut Main Street Center Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within CT. Charities of a similar size with the same main cause include Chatham Trades Inc ($911k), Washington Interfaith Network ($912k) and Business Volunteers Maryland Inc ($910k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $125k (17% of expenses). Other salaries and wages came to $419k. At year end it held assets of $494k against liabilities of $299k, net assets of $194k. It reported 7 employees.