Bloomfield Main Street Inc

Analysis

Bloomfield Main Street Inc is a registered charity in United States, based in Bloomfield, IA. It received its IRS tax-exemption ruling in August 2022, 4 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, Bloomfield Main Street Inc reported income of $173k and spending of $123k, leaving 29% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $126k to $173k (+37%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 84%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bloomfield Main Street Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within IA. Charities of a similar size with the same main cause include Potluck CPG Inc ($173k), Junior League of Sioux City ($173k) and Integrative Communities ($173k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 15% of the total. Other salaries and wages came to $43k. At year end it held assets of $203k against liabilities of $15k, net assets of $188k. It reported 1 employees.