Independence Main Street Inc

Analysis

Independence Main Street Inc is a registered charity in United States, based in Independence, KS. It received its IRS tax-exemption ruling in February 2017, 9 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, Independence Main Street Inc reported income of $166k and spending of $169k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $122k to $166k (+36%), an average of +7.9% a year. The sharpest change came in the year to December 2020, when income rose by 58%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Independence Main Street Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within KS. Charities of a similar size with the same main cause include Star Foundation of Coastal Georgia Inc ($166k), Downtown Newark Special Improvement District Inc ($166k) and Literacy Council of Southwestern Pa ($166k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $45k (27% of expenses). At year end it held assets of $201k against liabilities of $1,171, net assets of $200k. It reported 1 employees.