Corrales Mainstreet Inc

Analysis

Corrales Mainstreet Inc is a registered charity in United States, based in Corrales, NM. It received its IRS tax-exemption ruling in January 2000, 26 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 June 2023, Corrales Mainstreet Inc reported income of $128k and spending of $95k, leaving 26% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $102k to $128k (+26%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 26%. 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, Corrales Mainstreet Inc 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 43rd percentile, and in the 39th percentile within NM. Charities of a similar size with the same main cause include Ripley County Tourism Bureau Inc ($128k), Servicespace ($128k) and Alamo Kiwanis Club Charities Inc ($128k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 48% of the total. At year end it held assets of $279k against liabilities of $30k, net assets of $249k.