Oyster Bay Main Street Association

Analysis

Oyster Bay Main Street Association is a registered charity in United States, based in Oyster Bay, NY. It received its IRS tax-exemption ruling in April 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 August 2023, Oyster Bay Main Street Association reported income of $313k and spending of $239k, leaving 24% of income unspent that year. Across the 4 years on record, from August 2020 to August 2023, income grew from $208k to $313k (+50%), an average of +14% a year. The sharpest change came in the year to August 2023, when income rose by 76%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Oyster Bay Main Street Association sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Richmond Neighborhood Restoration Inc ($313k), Huntsville-Madison County Chamber of Commerce Foundation ($313k) and Central Adirondack Partnership for the 21st Century Inc ($313k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 71% of the total. Compensation of current officers, directors and key employees was $70k (29% of expenses). Other salaries and wages came to $28k. At year end it held assets of $277k against liabilities of $76k, net assets of $201k. It reported 3 employees.