Downtown Sykesville Connection Inc

Analysis

Downtown Sykesville Connection Inc is a registered charity in United States, based in Sykesville, MD. It received its IRS tax-exemption ruling in October 2020, 6 years ago. 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 June 2024, Downtown Sykesville Connection Inc reported income of $355k and spending of $387k, spending 109% of what it took in. Across the 4 years on record, from June 2021 to June 2024, income grew from $231k to $355k (+53%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 68%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Downtown Sykesville Connection Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MD. Charities of a similar size with the same main cause include Royal Heights Housing Inc ($355k), Shoreline Public Schools Foundation ($355k) and Volunteers of America Inc ($354k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $71k (18% of expenses). Other salaries and wages came to $47k. At year end it held assets of $672k against liabilities of $506k, net assets of $166k. It reported 3 employees.