Boonton Main Street

Analysis

Boonton Main Street is a registered charity in United States, based in Boonton, NJ. It received its IRS tax-exemption ruling in April 2003, 23 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, Boonton Main Street reported income of $159k and spending of $149k, spending 93% of its income. Across the 3 years on record, from December 2020 to December 2023, income fell from $669k to $159k (-76%), an average of -51% a year. The sharpest change came in the year to December 2022, when income dropped by 76%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boonton Main Street sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 56th percentile within NJ. Charities of a similar size with the same main cause include Montpelier Eagles 2246 Benevolent Association ($159k), Institute for Public Leadership Inc ($159k) and Main Street Russellville ($159k).

At year end it held assets of $200k against liabilities of $0, net assets of $200k.