Main Street Square Incorporated

Analysis

Main Street Square Incorporated is a registered charity in United States, based in Rapid City, SD. It received its IRS tax-exemption ruling in August 2012, 14 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, Main Street Square Incorporated reported income of $1.2m and spending of $1.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.2m (-12%), an average of -3.1% a year. The sharpest change came in the year to December 2022, when income dropped by 19%. 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, Main Street Square Incorporated sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within SD. Charities of a similar size with the same main cause include North Central Texas Regional Certification Agency ($1.2m), Mother of Light Center ($1.2m) and Network of Hope Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $59k (4.9% of expenses). Other salaries and wages came to $522k. At year end it held assets of $1.6m against liabilities of $104k, net assets of $1.5m. It reported 43 employees.