Main Street Lexington

Analysis

Main Street Lexington is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in May 2014, 12 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 June 2023, Main Street Lexington reported income of $179k and spending of $168k, spending 94% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $457k to $179k (-61%), an average of -38% a year. The sharpest change came in the year to June 2022, when income dropped by 69%. Over the whole period it spent 98% 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 Lexington 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 51st percentile, and in the 51st percentile within VA. Charities of a similar size with the same main cause include South Baldwin Chamber Foundation Inc ($179k), Icedc Foundation ($179k) and Junior League of Texarkana Inc ($179k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Other salaries and wages came to $80k. At year end it held assets of $159k against liabilities of $68k, net assets of $91k. It reported 5 employees.