Downtown Salisbury Inc

Analysis

Downtown Salisbury Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in July 1985, 41 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 2024, Downtown Salisbury Inc reported income of $196k and spending of $136k, leaving 31% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $186k to $196k (+5.4%), an average of +1.3% a year. The sharpest change came in the year to June 2023, when income rose by 45%. Over the whole period it spent 58% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Salisbury Inc sits at the 51st percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include 1159 South Community Development Corporation ($196k), Fairfield Education and Community Association ($196k) and Project 143 Foundation Inc ($196k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.0% and program service revenue 125% of the total. At year end it held assets of $1.1m against liabilities of $554k, net assets of $547k.