X Main St Corporation
- Assets
- $118.5k
- Revenue
- $51.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Indian Orchard, MA
- Founding
- 05/1998
- Data as of
- 06/2021
- EIN
- 04-3339350
Organization Overview
X Main St Corporation, operating under the name Bing Arts Center, is located in Indian Orchard, MA. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bing Arts Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Bing Arts Center generated $51.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $23.5k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE X MAIN STREET CORPORATION IS A 501 (C) 3 NON-PROFIT FOUNDED IN 1995 TO HELP REVITALIZE SPRINGFIELD'S FOREST PARK NEIGHBORHOOD AND SURROUNDING COMMUNITIES BY IMPROVING QUALITY OF LIFE FOR RESIDENTS, BUSINESSES AND VISITORS. THE ORGANIZATION HAS FOCUSED ON PROVIDING GREATER ARTS ACCESSIBILITY THROUGH ECLECTIC AND COMPELLING COMMUNITY CULTURAL PROGRAMMING. THE X MAIN STREET CORPORATION BECAME UNABLE TO SUPPORT AND MAINTAIN THE FORMER BING ARTS CENTER AT 716 SUMNER AVENUE IN SPRINGFIELD DURING THE PANDEMIC AND SOLD THE PROPERTY. HOWEVER, THROUGH BING PRODUCTIONS, WE ARE CONTINUING OUR ORGANIZATIONAL MISSION OF STRENGTHENING THE COMMUNITY BY SPONSORING, SCHEDULING, AND PRODUCING ARTS PROGRAMMING AT VARIOUS LOCATIONS IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION NORMALLY PRESENTS CULTURAL PROGRAMMING CONSISTING OF MUSICALS PERFORMANCES AND FILM SCREENINGS, ART EXHIBITS, AND CLASSES AT THE BING ART CENTER, 716 SUMNER AVENUE, SPRINGFIELD, MA. HOWEVER, DUE TO THE COVID-19 PANDEMIC NO PROGRAMS WERE PRESENTED. THE ORGANIZATION BECAME UNABLE TO SUPPORT AND MAINTAIN THE BUILDING DURING THE PANDEMIC DUE TO LACK OF PROGRAMMING REVENUE AND SOLD THE PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Hale President | OfficerTrustee | 6 | $3,000 |
Warren Amerman Treasurer | OfficerTrustee | 0.25 | $0 |
Priya Nadkarni Green Clerk | OfficerTrustee | 0.25 | $0 |
Sheila Byrne Director | Trustee | 0.1 | $0 |
Marty Langford Director | Trustee | 0.1 | $0 |
Magdalena Gomez Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $670 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $670 |
| Total Program Service Revenue | $0 |
| Investment income | $41 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,770 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,000 |
| Compensation of current officers, directors, key employees. | $750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,275 |
| Fees for services: Accounting | $1,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $338 |
| Office expenses | $285 |
| Information technology | $1,736 |
| Royalties | $0 |
| Occupancy | $2,964 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,086 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,877 |
| Insurance | $1,563 |
| All other expenses | $0 |
| Total functional expenses | $23,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,840 |
| Savings and temporary cash investments | $90,041 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $550 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $81 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $118,512 |
| Accounts payable and accrued expenses | $650 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $650 |
| Net assets without donor restrictions | $117,862 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $118,512 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Codman Square Neighborhood Development Corporation Dorchester, MA | $49,534,179 | $9,221,133 |
Broc-Community Action In Southwestern Vermont Rutland, VT | $4,592,577 | $9,366,618 |
Blackstone Valley Community Action Program Inc Pawtucket, RI | $2,776,542 | $8,877,966 |
Urban Edge Housing Corp Roxbury, MA | $48,065,772 | $13,249,471 |
Jamaica Plain Neighborhood Development Corporation Jamaica Plain, MA | $42,347,137 | $8,553,419 |
Fifth Avenue Association Business Improvement District Inc New York, NY | $1,371,227 | $6,747,998 |
Fifth Avenue Committee Incorporated Brooklyn, NY | $7,015,493 | $7,933,714 |
Hamden Economic Developmente Corporation Hamden, CT | $3,370,551 | $167,824 |
Opportunity Communities Llc Chelsea, MA | $1,253,175 | $6,991,638 |
Just A Start Inc Cambridge, MA | $43,187,600 | $7,410,722 |
Highbridge Community Development Corporation Bronx, NY | $13,193,541 | $8,682,034 |
National Association Of City Transportation Officials Inc New York, NY | $6,540,874 | $5,711,482 |