Spencer Main Street Company

Analysis

Spencer Main Street Company is a registered charity in United States, based in Spencer, IA. It received its IRS tax-exemption ruling in November 1988, 38 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 March 2023, Spencer Main Street Company reported income of $141k and spending of $314k, spending 223% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $212k to $141k (-34%), an average of -13% a year. The sharpest change came in the year to March 2023, when income dropped by 17%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spencer Main Street Company sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 45th percentile within IA. Charities of a similar size with the same main cause include Coalition of North East Associations Inc ($141k), National Charity League Inc Monarch Chapter ($141k) and Vision Haywood County ($141k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 30% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $59k (19% of expenses). At year end it held assets of $365k against liabilities of $54k, net assets of $311k. It reported 1 employees.