Mercado on 5th Inc

Analysis

Mercado on 5th Inc is a registered charity in United States, based in Moline, IL. It received its IRS tax-exemption ruling in February 2017, 9 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, Mercado on 5th Inc reported income of $628k and spending of $739k, spending 118% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $225k to $628k (+180%), an average of +67% a year. The sharpest change came in the year to December 2021, when income rose by 71%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mercado on 5th Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Ulu Ae Learning Center ($628k), Project Access-Collin County ($629k) and Main Street Dayton ($628k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 79% and program service revenue 20% of the total. Other salaries and wages came to $54k. At year end it held assets of $202k against liabilities of $0, net assets of $202k. It reported 3 employees.