Historic Frostburg - a Maryland Main St Community Inc

Analysis

Historic Frostburg - a Maryland Main St Community Inc is a registered charity in United States, based in Frostburg, MD. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Historic Frostburg - a Maryland Main St Community Inc reported income of $194k and spending of $201k, spending 104% of its income. Across the 3 years on record, from June 2022 to June 2024, income fell from $299k to $194k (-35%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Historic Frostburg - a Maryland Main St Community 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 53rd percentile, and in the 53rd percentile within MD. Charities of a similar size with the same main cause include 4th Trimester Arizona ($194k), Open Arms for Refugees Inc ($194k) and Smyrna Charity Assistance Fund ($194k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $48k (24% of expenses). At year end it held assets of $47k against liabilities of $0, net assets of $47k. It reported 1 employees.