Main Street of Sterling Inc

Analysis

Main Street of Sterling Inc is a registered charity in United States, based in Sterling, IL. It received its IRS tax-exemption ruling in October 2006, 20 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, Main Street of Sterling Inc reported income of $445k and spending of $258k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $203k to $445k (+119%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 60%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Main Street of Sterling Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Sister Circle International ($445k), Knead Community Cafe ($445k) and Harrison County Economic Development Corporation ($444k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $75k (29% of expenses). Other salaries and wages came to $37k. At year end it held assets of $596k against liabilities of $6,405, net assets of $589k. It reported 2 employees.