710 Main Street Inc

Analysis

710 Main Street Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, 710 Main Street Inc reported income of $1.1m and spending of $1.9m, spending 171% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $910k to $1.1m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2022, when income rose by 716%. Over the whole period it spent 134% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, 710 Main Street Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Old Salt Fishing Foundation Inc ($1.1m), 42nd Street Moon ($1.1m) and Greater Seattle Korean Association ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.0% and program service revenue 95% of the total. At year end it held assets of $1.5m against liabilities of $2.5m, net assets of -$1.0m.

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.