Beverly Main Streets Inc

Analysis

Beverly Main Streets Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in December 2003, 23 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 2023, Beverly Main Streets Inc reported income of $207k and spending of $232k, spending 112% of what it took in. Across the 3 years on record, from June 2019 to June 2023, income fell from $272k to $207k (-24%), an average of -13% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Beverly Main Streets Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 58th percentile within MA. Charities of a similar size with the same main cause include Detroit Greenways Coalition ($207k), The Huub ($207k) and Raton Main Street Inc ($207k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Other salaries and wages came to $143k. At year end it held assets of $49k against liabilities of $2,222, net assets of $46k. It reported 7 employees.