Colfax Main Street Inc

Analysis

Colfax Main Street Inc is a registered charity in United States, based in Colfax, IA. It received its IRS tax-exemption ruling in February 2010, 16 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, Colfax Main Street Inc reported income of $69k and spending of $68k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $63k to $69k (+9.5%), an average of +9.5% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Colfax Main Street Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within IA. Charities of a similar size with the same main cause include Center City Development Corporation ($69k), International Raoul Wallenberg Foundation Inc ($69k) and Oregon Utilities Coordinating Council Inc ($69k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 27% of the total. At year end it held assets of $326k against liabilities of $3,111, net assets of $323k.