Lynn Main Streets Inc

Analysis

Lynn Main Streets Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in September 2020, 6 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 December 2023, Lynn Main Streets Inc reported income of $191k and spending of $145k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $41k to $191k (+362%), an average of +362% a year. The sharpest change came in the year to December 2023, when income rose by 362%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lynn Main Streets Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within MA. Charities of a similar size with the same main cause include Salt Lake Chamber Foundation ($191k), Los Angeles Emergency Preparedness Foundation ($191k) and Start Up Kids Club ($191k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $54k against liabilities of $0, net assets of $54k.