Charleston Main Streets Inc
- Assets
- $81.9k
- Revenue
- $208.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Charleston, WV
- Founding
- 08/2011
- Data as of
- 06/2021
- EIN
- 45-2041887
Organization Overview
Charleston Main Streets Inc is located in Charleston, WV. The organization was established in 2011. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Charleston Main Streets Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Main Streets Inc 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, Charleston Main Streets Inc generated $208.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $195.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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
CHARLESTON MAIN STREETS WILL GROW VIBRANT COMMERCIAL DISTRICTS, SERVING AS THE MAIN VESSEL THROUGH THE CITY'S URBAN CORE, THAT FOSTERS AN ENVIRONMENT FOR ECONOMIC GROWTH AND THE STRONGEST BUSINESS DISTRICTS IN WEST VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOAM AT THE DOME AND OCTOBER IN CHARLESTON ARE LIVE MUSIC, ARTISIAN, CRAFT BEER, AND SMALL BUSINESS SHOWCASE EVENTS THAT DRAW A COLLECTIVE 5,000 PEOPLE TO THE WEST SIDE AND EAST END RESPECTIVELY. IN 2020 OCTOBER IN CHARLESTON WAS BOX SALES DUE TO THE PANDEMIC.
HALLOWEAST IS A THREE DAY BUSINESS DISTRICT CELEBRATION CENTERED AROUND THE HALLOWEEN SEASON THAT SHOWCASES LOCAL BUSINESSES THROUGHOUT THE EAST END.
WEST SIDE MINGLE IS A BUSINESS DISTRICT CELEBRATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ric Cavender Executive Director | Officer | 40 | $64,813 |
Dr Paula Flaherty Chair | OfficerTrustee | 1 | $0 |
Patrick O'malley Treasurer | OfficerTrustee | 1 | $0 |
Sara Slamick Secretary | OfficerTrustee | 1 | $0 |
Rob Aliff Vice-Chair | OfficerTrustee | 1 | $0 |
Mary Jean Davis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,413 |
| Investment income | $219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,820 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $208,289 |
| Statement of Expenses | |
|---|---|
| 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. | $64,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,169 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,084 |
| Payroll taxes | $8,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,391 |
| Office expenses | $3,497 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,497 |
| Travel | $908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $663 |
| Insurance | $1,213 |
| All other expenses | $0 |
| Total functional expenses | $195,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,476 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,608 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,721 |
| Total assets | $81,865 |
| Accounts payable and accrued expenses | $24,455 |
| Grants payable | $0 |
| Deferred revenue | $67,995 |
| 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 | $27,733 |
| Total liabilities | $120,183 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$38,318 |
Grants Awarded
Over the last fiscal year, Charleston Main Streets Inc has awarded $39,752 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TRIANGLE DISTRICT LLC PURPOSE: FACADE GRANT | $18,167 |
Charleston, WV PURPOSE: FACADE GRANT | $15,028 |
FOX'S PIZZA DEN PURPOSE: FACADE GRANT | $6,557 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Charleston Main Streets Inc has recieved totaling $186,695.
| Awarding Organization | Amount |
|---|---|
Mcgee Foundation Charleston, WV PURPOSE: ECONOMIC DEVELOPMENT | $170,245 |
Encova Foundation Of West Virginia Charleston, WV PURPOSE: GENERAL ORGANIZATION SUPPORT AND PROJECT IMPLEMENTATION | $13,500 |
Bb & T West Virginia Foundation Inc Charleston, WV PURPOSE: GENERAL OPERATING | $2,950 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Graduate Management Admission Council Reston, VA | $230,212,828 | $77,127,681 |
Educational Commission For Foreign Medical Graduates Philadelphia, PA | $218,692,756 | $72,786,979 |
Summit Academy Management Akron, OH | $25,217,091 | $45,520,259 |
Ohio Connections Academy Inc Mason, OH | $14,548,496 | $44,580,487 |
Common Application Inc Arlington, VA | $52,971,416 | $52,316,500 |
Longwood University Real Estate Foundation Farmville, VA | $322,438,396 | $31,911,007 |
Achieving The Dream Inc Silver Spring, MD | $48,979,373 | $23,156,070 |
Camc Health Education And Research Institute Inc Charleston, WV | $10,132,150 | $15,955,209 |
Childrens Center For Developmental Enrichment Westerville, OH | $12,309,399 | $12,926,419 |
National Association For College Admission Counseling Inc Arlington, VA | $22,607,858 | $9,863,408 |
Ecumenical Community Hershey, PA | $4,358,759 | $9,348,993 |
Rev1 Ventures Columbus, OH | $21,187,153 | $10,381,705 |