Upper Albany Main Street Program Inc

Analysis

Upper Albany Main Street Program Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in September 2002, 24 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, Upper Albany Main Street Program Inc reported income of $252k and spending of $307k, spending 122% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $327k to $252k (-23%), an average of -23% a year. The sharpest change came in the year to June 2024, when income dropped by 23%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Upper Albany Main Street Program Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within CT. Charities of a similar size with the same main cause include Harrison House of Hope ($252k), Montgomery Techlab Inc ($252k) and Downtown Hyannis Community Development Corp ($252k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $192k. At year end it held assets of -$26k against liabilities of $0, net assets of -$26k.