Venice Main St Inc

Analysis

Venice Main St Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in November 1990, 36 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Venice Main St Inc reported income of $328k and spending of $239k, leaving 27% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $211k to $328k (+56%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 64%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Venice Main St Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 66th percentile within FL. Charities of a similar size with the same main cause include Oak Hill Collaborative Inc ($328k), Wilkes Adult Developmental Activity Program Inc ($329k) and We Our US Unity Engagement Mens Movement Incorporated ($328k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $60k (25% of expenses). Other salaries and wages came to $62k. At year end it held assets of $251k against liabilities of $19k, net assets of $232k. It reported 4 employees.