Main Street Connect Inc

Analysis

Main Street Connect Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in May 2017, 9 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2023, Main Street Connect Inc reported income of $1.4m and spending of $904k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.4m (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2022, when income dropped by 43%. Over the whole period it spent 35% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Main Street Connect Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include Volunteers of America Inc ($1.4m), Parks Youth Ranch Inc ($1.4m) and Covenant Living Services ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $643k. At year end it held assets of $9.9m against liabilities of $16k, net assets of $9.9m. It reported 12 employees.