Richmond Main Street Initiative Inc

Analysis

Richmond Main Street Initiative Inc is a registered charity in United States, based in Richmond, CA. It received its IRS tax-exemption ruling in July 2002, 24 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 December 2022, Richmond Main Street Initiative Inc reported income of $311k and spending of $340k, spending 110% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $403k to $311k (-23%), an average of -8.3% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Richmond Main Street Initiative Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include Arizona Opportunities Industrialization Center ($310k), Warrensburg Main Street Inc ($311k) and Sporting Clays for Charity Inc ($310k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% and program service revenue 1.2% of the total. Other salaries and wages came to $130k. At year end it held assets of $241k against liabilities of $10k, net assets of $230k. It reported 2 employees.