East Somerville Main Street Inc

Analysis

East Somerville Main Street Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in September 2009, 17 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 June 2024, East Somerville Main Street Inc reported income of $355k and spending of $273k, leaving 23% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $178k to $355k (+100%), an average of +100% a year. The sharpest change came in the year to June 2024, when income rose by 100%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, East Somerville Main Street Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Bayside Village Business Improvement District Inc ($355k), South Boston Community Development Foundation Inc ($355k) and Partnership for Career Development ($355k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $77k (28% of expenses). Other salaries and wages came to $87k. At year end it held assets of $276k against liabilities of $13k, net assets of $263k. It reported 3 employees.