Lovington Mainstreet Corporation

Analysis

Lovington Mainstreet Corporation is a registered charity in United States, based in Lovington, NM. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2023, Lovington Mainstreet Corporation reported income of $543k and spending of $488k, spending 90% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $188k to $543k (+188%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 125%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lovington Mainstreet Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within NM. Charities of a similar size with the same main cause include Thingamajig Theatre Company ($543k), Cashion Cultural Legacy ($543k) and Childrens Museum of Oswego ($543k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.5% of the total. Other salaries and wages came to $100k. At year end it held assets of $118k against liabilities of $4,297, net assets of $113k. It reported 2 employees.