Downtown Streets Inc

Analysis

Downtown Streets Inc is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover employment, 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 June 2023, Downtown Streets Inc reported income of $13.8m and spending of $14.7m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.4m to $13.8m (+65%), an average of +13% a year. The sharpest change came in the year to June 2020, when income rose by 24%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Streets Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Building Bridges Across the River ($13.8m), Goodwill Industries of N Georgia Inc ($13.8m) and National Coalition for Asian Pacific American Community Dev ($13.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $435k (3.0% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $3.9m against liabilities of $3.3m, net assets of $656k. It reported 119 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.