Independence Square Main Street

Analysis

Independence Square Main Street is a registered charity in United States, based in Independence, MO. It received its IRS tax-exemption ruling in April 2022, 4 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, Independence Square Main Street reported income of $228k and spending of $228k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $199k to $228k (+14%), an average of +14% a year. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Independence Square Main Street sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within MO. Charities of a similar size with the same main cause include Jacksonville Onslow Economic Development Partnership ($227k), The Union of Jamaican Alumni Association USA Inc ($228k) and Marshalltown Central Business District Inc MCBD ($227k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 9.6% of the total. Compensation of current officers, directors and key employees was $37k (16% of expenses). At year end it held assets of $12k against liabilities of $22k, net assets of -$10k. It reported 1 employees.