Laurel Main Street Inc

Analysis

Laurel Main Street Inc is a registered charity in United States, based in Laurel, MS. It received its IRS tax-exemption ruling in June 2008, 18 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Laurel Main Street Inc reported income of $420k and spending of $302k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $264k to $420k (+59%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 37%. 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, Laurel Main Street Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 69th percentile within MS. Charities of a similar size with the same main cause include Bexley Senior Citizens Housing Corp ($420k), Asa Education Foundation Inc ($420k) and West End Opportunity Partnership ($420k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $64k. At year end it held assets of $215k against liabilities of $30, net assets of $215k. It reported 2 employees.