Madison Main Street Program INC FY2021 filing

Tax-deductible

Madison, IN501(c)(3)Community DevelopmentEIN 35-1939473Revenue $244K in FY2021

On file with the IRS301 E Main St, 47250-3536 · Madison, INTax-exempt since Dec 1996Publicly supported charity — 170(b)(1)(A)(vi)

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A resource for promoting downtown revitalization.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $21K a year · 11% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
31 mo
of spending, in cash
Looks good: 31.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$47K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$244K
+90% vs prior year
Spent
$122K
To programs
100%
Net assets
$280K
By yearFY2020–FY2024
Revenue
$244K
FY2021▲ +90%
Tap a bar for its year
Revenue by fiscal year
FY2020$128K
FY2021$244K
FY2022$179K
FY2023$180K
FY2024$181K
Expenses
$122K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$122K
FY2022$169K
FY2023$167K
FY2024$240K
Net assets
$280K
FY2021▲ +71%
Tap a bar for its year
Net assets by fiscal year
FY2020$164K
FY2021$280K
FY2022$201K
FY2023$218K
FY2024$159K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $122K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Board Presid
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Program Dire
$0Pt VII · Sec A

Austin Sims’s $35K as Program Dire is at the 17th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes downtown revitalization by providing resources and support.

Questions for Madison Main Street Program INC

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Provided by the organization

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1 program · $122K · in their own filed words · FY2021
01

Educational SERVICES/LIASON for downtown organizations to encourage merchants and citizens to participate in activities for cultural and economic development.

$122Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$11K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$244K
Ln 12
Gifts and grantsLn 1h$244K
Investment incomeLn 3$3
Money outPt IX
$122K
Ln 25
Programscol B$122K
Owns and owesPt X
$280K
net assets · Ln 32
Cash and savingsLn 1–2$318K
Total assetsLn 16$327K
LiabilitiesLn 26$47K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$244K
Government grantsLn 1e$54K
Investment incomeLn 3$3
Total revenueLn 12$244K
Assets in detailPt X, end of year
CashLn 1$309K
SavingsLn 2$9K
Cash and savings togetherLn 1–2$318K
Total assetsLn 16$327K
LiabilitiesLn 26$47K
Net assetsLn 32$280K
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$165K$318K
Total assetsLn 16$165K$327K
LiabilitiesLn 26$789$47K
Net assetsLn 32$164K$280K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$40K$40K
Payroll taxesLn 10$3K$3K
Accounting feesLn 11c$790$790
Advertising and promotionLn 12$38K$38K
Office expensesLn 13$4K$4K
OccupancyLn 16$10K$10K
TravelLn 17$30$30
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$27$27
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$15K$15K
All other expensesLn 24e$5K$5K
Total functional expensesLn 25$122K$122K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $181K$240K−$60K$159K 990 PDF
FY2023 $180K$167K$13K$218K 990 PDF
FY2022 $179K$169K$10K$201K 990 PDF
FY2021 Viewing $244K$122K$122K$280K 990 PDF
FY2020 $128K$164K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $243,733 revenue, 12 lines filed
I-8 Contributions and grants$243,730
I-9 Program service revenue$0
I-10 Investment income$3
I-11 Other revenue$0
I-12 Total revenue$243,733
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$42,894
I-16a Professional fundraising fees$0
I-17 Other expenses$78,896
I-18 Total expenses$121,790
I-19 Revenue less expenses$121,943
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $243,733 across 6 lines filed
VIII-1b Membership dues$12,335
VIII-1e Government grants$53,500
VIII-1f All other contributions, gifts and grants$177,895
VIII-1h Total contributions, gifts and grants$243,730
VIII-3 Investment incomeExcluded from tax $3$3
VIII-12 Total revenueExcluded from tax $3$243,733
Part IX · Statement of functional expenses $121,790 across 12 lines filed
IX-7 Other salaries and wagesPrograms $39,846$39,846
IX-10 Payroll taxesPrograms $3,048$3,048
IX-11c Accounting feesPrograms $790$790
IX-12 Advertising and promotionPrograms $37,984$37,984
IX-13 Office expensesPrograms $4,213$4,213
IX-16 OccupancyPrograms $10,188$10,188
IX-17 TravelPrograms $30$30
IX-19 Conferences, conventions and meetingsPrograms $4,356$4,356
IX-20 InterestPrograms $27$27
IX-23 InsurancePrograms $1,635$1,635
IX-24 Other expenses (24a–d)Programs $14,810$14,810
IX-24e All other expensesPrograms $4,863$4,863
IX-25 Total functional expensesPrograms $121,790 · Management $0 · Fundraising $0$121,790
Part X · Balance sheet $327,393 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $155,558$308,961
X-2 Savings and temporary cash investmentsStart of year $9,079$9,082
X-4 Accounts receivableStart of year $100$9,350
X-16 Total assetsStart of year $164,737$327,393
X-17 Accounts payable and accrued expensesStart of year $789$6,817
X-25 Other liabilities$40,649
X-26 Total liabilitiesStart of year $789$47,466
X-27 Net assets without donor restrictionsStart of year $163,948$279,927
X-32 Total net assets or fund balancesStart of year $163,948$279,927
X-33 Total liabilities and net assetsStart of year $164,737$327,393
Part XI · Reconciliation of net assets $279,927 net assets at year end
XI-1 Total revenue$243,733
XI-2 Total expenses$121,790
XI-3 Revenue less expenses$121,943
XI-4 Net assets at start of year$163,948
XI-9 Other changes in net assets−$5,964
XI-10 Net assets at end of year$279,927

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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