Main Street Connect Inc
- Assets
- $9.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 12
- Location
- Rockville, MD
- Founding
- 05/2017
- Data as of
- 12/2023
- EIN
- 81-5280080
Organization Overview
Main Street Connect Inc is located in Rockville, MD. The organization was established in 2017. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Main Street Connect Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Connect 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 12/2023, Main Street Connect Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $903.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAIN STREET'S MISSION IS TO MEET THE URGENT NEED FOR DISABILITY HOUSING AND PROGRAMMING WITH AFFORDABLE, COMMUNITY-CENTERED SPACES AND OPPORTUNITIES THAT PROMOTE INCLUSION, INDEPENDENCE AND QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELD SEVERAL COMMUNITY ENGAGEMENT EVENTS SPREADING THE WORD ABOUT MAIN STREET CONNECT'S MISSION AND GOAL OF CREATING AN INCLUSIVE, COMMUNITY-CENTERED RESIDENTIAL DEVELOPMENT FOR ADULTS WITH DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jillian Copeland President | OfficerTrustee | 15 | $0 |
Robert Granader Director | Trustee | 1 | $0 |
David Astrove Director | Trustee | 1 | $0 |
Lisa Friedlander Director | OfficerTrustee | 1 | $0 |
Karen Brown Beveridge Director | OfficerTrustee | 1 | $0 |
Andy Friedlander Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $151,606 |
| Fundraising events | $787,649 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $252,793 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,192,048 |
| Total Program Service Revenue | $0 |
| Investment income | $273,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,849 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$182,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $47,629 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,407,251 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $643,263 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,082 |
| Payroll taxes | $43,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,895 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,923 |
| Fees for services: Other | $48,648 |
| Advertising and promotion | $2,154 |
| Office expenses | $32,114 |
| Information technology | $19,795 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $11,981 |
| All other expenses | $859 |
| Total functional expenses | $903,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $424,994 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $20,708 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,529,966 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,969,309 |
| Total assets | $9,944,977 |
| Accounts payable and accrued expenses | $14,344 |
| Grants payable | $0 |
| Deferred revenue | $1,237 |
| 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 | $15,581 |
| Net assets without donor restrictions | $8,850,602 |
| Net assets with donor restrictions | $1,078,794 |
| 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 | $9,944,977 |