Main Street Vermilion Inc

Analysis

Main Street Vermilion Inc is a registered charity in United States, based in Vermilion, OH. It received its IRS tax-exemption ruling in April 2001, 25 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 Vermilion Inc reported income of $359k and spending of $347k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $295k to $359k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 87% 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 Vermilion Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within OH. Charities of a similar size with the same main cause include Monroe County Public Library Foundation Inc ($359k), Openstreetmap United States Inc ($360k) and Modoc Work Activity Center ($359k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $39k (11% of expenses). At year end it held assets of $472k against liabilities of $30k, net assets of $442k. It reported 3 employees.