Main Street Morgantown Inc

Analysis

Main Street Morgantown Inc is a registered charity in United States, based in Morgantown, WV. It received its IRS tax-exemption ruling in May 1994, 32 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 Morgantown Inc reported income of $189k and spending of $198k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $245k to $189k (-23%), an average of -6.3% a year. The sharpest change came in the year to December 2023, when income rose by 84%. Over the whole period it spent 105% 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 Morgantown Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within WV. Charities of a similar size with the same main cause include Gleaners Distribution Corporation ($189k), Main Street Medina ($189k) and Texas Association of Property and Evidence Inventory Technicians ($189k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 24% of the total. Other salaries and wages came to $7,170. At year end it held assets of $196k against liabilities of $39, net assets of $196k. It reported 1 employees.

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.