Main Street Gloucester Preservation Trust
Main Street Gloucester Preservation Trust faces significant deficit in 2023 despite stable assets and no officer compensation.
EIN: 202744649 · Gloucester, VA · NTEE: S20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $979K |
| Total Expenses | $326K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $3.9M |
| Transparency Score | 75/100 |
Search Intent Cockpit
Main Street Gloucester Preservation Trust Form 990, Revenue, CEO Pay, and IRS Filing Signals
Main Street Gloucester Preservation Trust is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Main Street Gloucester Preservation Trust in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $51K and expenses of $326K.
Revenue and Expenses
Main Street Gloucester Preservation Trust reported $51K in revenue and $326K in expenses, a deficit of $275K.
Executive Compensation
Top officer compensation appears as $4 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
75/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Main Street Gloucester Preservation Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $261K (80%) |
Across stored filings, Main Street Gloucester Preservation Trust shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Association Of Small Business Development Centers | Virginia and Community Improvement context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
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Local and Sector Spokes
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Gloucester, VA nonprofitsCommunity Improvement in Virginia
Public Benefit in Virginia
Follow the Money
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Next Best Actions
Keep the Investigation Moving
Main Street Gloucester Preservation Trust directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Main Street Gloucester Preservation Trust
Main Street Gloucester Preservation Trust (EIN: 202744649) is a nonprofit organization based in Gloucester, VA, classified under NTEE code S20. The organization reported total revenue of $979K and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Main Street Gloucester Preservation Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Main Street Gloucester Preservation Trust is a small nonprofit that has been operating for 15 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $51K |
| Total Expenses | $326K |
| Surplus / Deficit | $-274,569 |
| Total Assets | $3.9M |
| Total Liabilities | $6K |
| Net Assets | $3.9M |
| Operating Margin | -533.4% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 144.6 months |
Financial Health Grade: B
In 2023, Main Street Gloucester Preservation Trust reported a deficit of $275K with expenses exceeding revenue, holds 144.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Main Street Gloucester Preservation Trust's revenue has declined at a compound annual growth rate (CAGR) of -14.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -82.2% | -44.3% | -8.2% |
| 2022 | -56.7% | +41.9% | -5.8% |
| 2021 | -19.5% | -37.7% | +6.4% |
| 2020 | +303.4% | +78.8% | +4.3% |
| 2019 | -40.8% | +20.8% | -3.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Main Street Gloucester Preservation Trust with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Main Street Gloucester Preservation Trust allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $275K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The Main Street Gloucester Preservation Trust consistently reports 0% officer compensation across all available filings, indicating a strong commitment to directing all funds towards its mission and operational costs rather than executive salaries, which is highly commendable for an organization of its size with assets around $4 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Main Street Gloucester Preservation Trust's IRS 990 filings:
- Significant operating deficit in 2023 ($274,569)
- Inconsistent revenue generation year-over-year, leading to recurring deficits
- Fluctuating liabilities, with a notable increase in 2022 before a decrease in 2023, requiring further explanation
Strengths
The following positive indicators were identified for Main Street Gloucester Preservation Trust:
- Consistent 0% officer compensation, indicating strong financial stewardship and mission focus
- Stable asset base of approximately $4 million over the past decade, providing a solid financial foundation
- Long history of IRS 990 filings (13 filings), demonstrating commitment to compliance and transparency
Frequently Asked Questions about Main Street Gloucester Preservation Trust
Is Main Street Gloucester Preservation Trust a legitimate charity?
Main Street Gloucester Preservation Trust (EIN: 202744649) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $979K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Main Street Gloucester Preservation Trust spend its money?
Main Street Gloucester Preservation Trust directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Main Street Gloucester Preservation Trust tax-deductible?
Main Street Gloucester Preservation Trust is registered as a tax-exempt nonprofit (EIN: 202744649). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Main Street Gloucester Preservation Trust CEO make?
Main Street Gloucester Preservation Trust's highest-compensated officer earns $4 annually. The organization reported $979K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Main Street Gloucester Preservation Trust's spending goes to programs?
Main Street Gloucester Preservation Trust directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Main Street Gloucester Preservation Trust compare to similar nonprofits?
With a transparency score of 75/100 (Good), Main Street Gloucester Preservation Trust is above average for NTEE category S20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Main Street Gloucester Preservation Trust located?
Main Street Gloucester Preservation Trust is headquartered in Gloucester, Virginia and files with the IRS under EIN 202744649. It is classified under NTEE code S20.
How many years of IRS 990 filings does Main Street Gloucester Preservation Trust have?
Main Street Gloucester Preservation Trust has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $979K in total revenue.
Why did the organization incur a significant deficit of $274,569 in 2023 (Expenses $326,045 - Revenue $51,476)?
The 2023 filing shows a substantial negative net income, which could be due to a one-time large project expense, a temporary dip in fundraising, or a strategic investment. Further details from the full IRS 990 or annual report would be needed to understand the specific reasons.
What caused the increase in liabilities from $83,880 in 2022 to $5,861 in 2023, after a period of lower liabilities?
The significant fluctuation in liabilities, particularly the increase in 2022 and subsequent decrease in 2023, warrants investigation. This could indicate changes in debt management, deferred revenue, or other financial obligations. The provided data shows liabilities of $5,861 in 2023, which is a decrease from $83,880 in 2022, not an increase. The question should be rephrased to reflect the decrease.
How does the organization plan to address the recurring revenue shortfalls observed in multiple years (e.g., 2023, 2022, 2019, 2017, 2015, 2014)?
Consistent deficits in several years suggest a potential need for a more robust and diversified fundraising strategy or a re-evaluation of spending. The organization's long-term financial stability could be impacted if these trends continue without mitigation.
What is the specific breakdown of program, administrative, and fundraising expenses, given the available data only shows total expenses?
Without a detailed breakdown of expenses in the provided summary, it's challenging to precisely assess spending efficiency. The estimated breakdown assumes a strong program focus given the mission and lack of officer compensation, but actual figures from the full 990 would be more accurate.
Filing History
IRS 990 filing history for Main Street Gloucester Preservation Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Main Street Gloucester Preservation Trust's revenue has declined by 84.6%, moving from $335K to $51K. Total assets decreased by 6.3% over the same period, from $4.2M to $3.9M. Total functional expenses rose by 52.1%, from $214K to $326K. In its most recent filing year (2023), Main Street Gloucester Preservation Trust reported a deficit of $275K, with expenses exceeding revenue. The organization holds $6K in liabilities against $3.9M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $3.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $51K | $326K | $3.9M | $6K | — | — |
| 2022 | $290K | $585K | $4.3M | $84K | — | View 990 |
| 2021 | $670K | $412K | $4.5M | $51K | — | View 990 |
| 2020 | $832K | $663K | $4.3M | $36K | — | — |
| 2019 | $206K | $371K | $4.1M | $29K | — | View 990 |
| 2018 | $348K | $307K | $4.3M | $29K | — | View 990 |
| 2017 | $338K | $414K | $4.2M | $28K | — | View 990 |
| 2016 | $516K | $376K | $4.3M | $28K | — | View 990 |
| 2015 | $431K | $519K | $4.1M | $0 | — | View 990 |
| 2014 | $266K | $485K | $4.2M | $0 | — | View 990 |
| 2013 | $383K | $325K | $4.4M | $0 | — | View 990 |
| 2012 | $454K | $252K | $4.4M | $22K | — | View 990 |
| 2011 | $335K | $214K | $4.2M | $17K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $51K, expenses of $326K, and assets of $3.9M (revenue -82.2% year-over-year).
- 2022: Revenue of $290K, expenses of $585K, and assets of $4.3M (revenue -56.7% year-over-year).
- 2021: Revenue of $670K, expenses of $412K, and assets of $4.5M (revenue -19.5% year-over-year).
- 2020: Revenue of $832K, expenses of $663K, and assets of $4.3M (revenue +303.4% year-over-year).
- 2019: Revenue of $206K, expenses of $371K, and assets of $4.1M (revenue -40.8% year-over-year).
- 2018: Revenue of $348K, expenses of $307K, and assets of $4.3M (revenue +2.9% year-over-year).
- 2017: Revenue of $338K, expenses of $414K, and assets of $4.2M (revenue -34.5% year-over-year).
- 2016: Revenue of $516K, expenses of $376K, and assets of $4.3M (revenue +19.7% year-over-year).
- 2015: Revenue of $431K, expenses of $519K, and assets of $4.1M (revenue +62.2% year-over-year).
- 2014: Revenue of $266K, expenses of $485K, and assets of $4.2M (revenue -30.5% year-over-year).
- 2013: Revenue of $383K, expenses of $325K, and assets of $4.4M (revenue -15.6% year-over-year).
- 2012: Revenue of $454K, expenses of $252K, and assets of $4.4M (revenue +35.3% year-over-year).
- 2011: Revenue of $335K, expenses of $214K, and assets of $4.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Main Street Gloucester Preservation Trust:
Data Sources and Methodology
This transparency report for Main Street Gloucester Preservation Trust is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.