Saco Main Street Inc

Analysis

Saco Main Street Inc is a registered charity in United States, based in Saco, ME. It received its IRS tax-exemption ruling in December 2004, 22 years ago. 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, Saco Main Street Inc reported income of $197k and spending of $165k, spending 84% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $224k to $197k (-12%), an average of -2.5% a year. The sharpest change came in the year to December 2023, when income dropped by 38%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Saco Main Street Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 47th percentile within ME. Charities of a similar size with the same main cause include St Andrew Bay Resource Management Association ($197k), Worthy Boys Camp of the Police Department Pistol Club of Rock Hil ($197k) and Dubois Senior and Community Center ($197k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $50k (30% of expenses). Other salaries and wages came to $28k. At year end it held assets of $57k against liabilities of $9,734, net assets of $48k. It reported 11 employees.