Cape Charles Va Main Street Inc

Analysis

Cape Charles Va Main Street Inc is a registered charity in United States, based in Cape Charles, VA. It received its IRS tax-exemption ruling in March 2018, 8 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 June 2024, Cape Charles Va Main Street Inc reported income of $354k and spending of $463k, spending 131% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $187k to $354k (+89%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 90%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cape Charles Va Main Street Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within VA. Charities of a similar size with the same main cause include Everett Community Growers Inc ($354k), National Collaborative for Digital Equity ($354k) and Volunteer Center of Cedar Valley ($354k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $55k (12% of expenses). Other salaries and wages came to $38k. At year end it held assets of $50k against liabilities of $33k, net assets of $17k. It reported 3 employees.