Mayo Street Arts

Analysis

Mayo Street Arts is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in May 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Mayo Street Arts reported income of $470k and spending of $556k, spending 118% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $270k to $470k (+74%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mayo Street Arts 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 69th percentile, and in the 65th percentile within ME. Charities of a similar size with the same main cause include Chesterfield Alternatives Inc ($470k), Fort Worth Food & Wine Foundation ($470k) and Hannahs House Inc ($470k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 74% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $63k (11% of expenses). Other salaries and wages came to $137k. At year end it held assets of $609k against liabilities of $3,000, net assets of $606k. It reported 11 employees.