Main Street Housing Inc

Analysis

Main Street Housing Inc is a registered charity in United States, based in Elkridge, MD. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Housing Inc reported income of $738k and spending of $924k, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $665k to $738k (+11%), an average of +2.6% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Main Street Housing Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include Delno Terrace Inc ($737k), Tucson Ministries Inc ($738k) and Telacu Housing Rialto III Inc ($737k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $317k. At year end it held assets of $7.9m against liabilities of $8.0m, net assets of -$128k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.