Onancock Main Street Initiative

Analysis

Onancock Main Street Initiative is a registered charity in United States, based in Onancock, VA. It received its IRS tax-exemption ruling in April 2019, 7 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 2023, Onancock Main Street Initiative reported income of $129k and spending of $124k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $35k to $129k (+270%), an average of +39% a year. The sharpest change came in the year to December 2021, when income rose by 438%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Onancock Main Street Initiative sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Friends of the Northern Rail Trail ($129k), New York Coalition for Children with Special Needs Birth to 5 Inc ($129k) and Asset Based Community Development Institute ($129k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $27k. At year end it held assets of $91k against liabilities of $0, net assets of $91k. It reported 1 employees.