New Castle Main Street Inc

Analysis

New Castle Main Street Inc is a registered charity in United States, based in New Castle, IN. It received its IRS tax-exemption ruling in April 2015, 11 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, New Castle Main Street Inc reported income of $412k and spending of $536k, spending 130% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $339k to $412k (+22%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Castle Main Street Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within IN. Charities of a similar size with the same main cause include Yonkers South Broadway District Management Association Inc ($412k), Access to Our Community ($412k) and New Birth Community Development ($411k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $37k (6.9% of expenses). Other salaries and wages came to $39k. At year end it held assets of $10k against liabilities of $3,687, net assets of $6,336. It reported 3 employees.