Myrtle Beach Downtown Alliance Inc

Analysis

Myrtle Beach Downtown Alliance Inc is a registered charity in United States, based in Myrtle Beach, SC. It received its IRS tax-exemption ruling in June 2021, 5 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, Myrtle Beach Downtown Alliance Inc reported income of $1.7m and spending of $1.2m, leaving 28% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $593k to $1.7m (+192%), an average of +192% a year. The sharpest change came in the year to June 2023, when income rose by 192%. Over the whole period it spent 71% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Myrtle Beach Downtown Alliance Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within SC. Charities of a similar size with the same main cause include South Bend Elkhart Regional Partnership Foundation ($1.7m), Fontana Resources at Work ($1.7m) and NDN Fund ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $275k. At year end it held assets of $822k against liabilities of $152k, net assets of $670k. It reported 3 employees.