Garrett Main Street Inc

Analysis

Garrett Main Street Inc is a registered charity in United States, based in Garrett, IN. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Garrett Main Street Inc reported income of $92k and spending of $130k, spending 141% of what it took in. Across the 2 years on record, from June 2019 to June 2022, income fell from $1.0m to $92k (-91%), an average of -91% a year. The sharpest change came in the year to June 2022, when income dropped by 91%. Over the whole period it spent 18% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Garrett Main Street Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 32nd percentile within IN. Charities of a similar size with the same main cause include Orchard Park Symphony Orchestra ($92k), Overseas Chinese Cultural Heritage Foundation ($92k) and Minnesota Guitar Society ($92k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 51% and program service revenue 49% of the total. Other salaries and wages came to $60k. At year end it held assets of $784k against liabilities of $0, net assets of $784k. It reported 5 employees.