Ormond Main Street Inc

Analysis

Ormond Main Street Inc is a registered charity in United States, based in Ormond Beach, FL. It received its IRS tax-exemption ruling in December 1996, 30 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 September 2022, Ormond Main Street Inc reported income of $324k and spending of $291k, spending 90% of its income. Across the 4 years on record, from September 2019 to September 2022, income grew from $315k to $324k (+2.6%), an average of +0.9% a year. The sharpest change came in the year to September 2020, when income dropped by 35%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ormond Main Street 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 Spirit of Athens Alabama Inc ($323k), Connectwaukegan NFP ($324k) and Discover Downtown Middlesboro Inc ($323k).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 29% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $102k (35% of expenses). At year end it held assets of $139k against liabilities of $12k, net assets of $127k. It reported 1 employees.