Union Square Main Streets Inc

Analysis

Union Square Main Streets Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in August 2007, 19 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, Union Square Main Streets Inc reported income of $921k and spending of $739k, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $237k to $921k (+288%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 109%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Union Square Main Streets 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 78th percentile within MA. Charities of a similar size with the same main cause include Somerset County Business Partnership Foundation ($920k), Together SC ($921k) and Central Kenilworth Avenue Revitalization Community Developme ($920k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $87k (12% of expenses). Other salaries and wages came to $240k. At year end it held assets of $370k against liabilities of $35k, net assets of $335k. It reported 8 employees.