Main Street Group Foundation Inc
Main Street Group Foundation Inc. reports a sudden, substantial increase in revenue and assets in its latest filing, contrasting with historical trends.
EIN: 201834861 · Marlborough, MA · NTEE: P128 · Updated: 2026-03-28
Is Main Street Group Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Main Street Group Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Main Street Group Foundation Inc
Main Street Group Foundation Inc (EIN: 201834861) is a nonprofit organization based in Marlborough, MA, classified under NTEE code P128. The organization reported total revenue of $3.6M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Main Street Group Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Main Street Group Foundation Inc is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $123K |
| Total Expenses | $177K |
| Surplus / Deficit | $-54,829 |
| Total Assets | $1.4M |
| Total Liabilities | $1 |
| Net Assets | $1.4M |
| Operating Margin | -44.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 97.6 months |
Financial Health Grade: B
In 2023, Main Street Group Foundation Inc reported a deficit of $55K with expenses exceeding revenue, holds 97.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Main Street Group Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 24.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.0% | +18.5% | -3.7% |
| 2022 | -39.0% | +17.8% | -2.4% |
| 2020 | -1867.6% | +25.0% | -7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Group Foundation Inc with a Mission Score of 70 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Main Street Group Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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 $55K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer-led structure or that executive compensation is not reported under this specific line item, which could obscure true administrative costs.
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 Group Foundation Inc's IRS 990 filings:
- Sudden, unexplained spike in revenue ($3.6M) in the latest period, significantly deviating from historical norms (typically <$200K).
- Consistent 0% officer compensation reported, which could indicate a lack of transparency if compensation is simply reclassified rather than truly absent.
- Historical periods show expenses sometimes exceeding revenue (e.g., 202310, 202210, 201310, 201210), indicating potential operational deficits in those years.
Strengths
The following positive indicators were identified for Main Street Group Foundation Inc:
- Consistent filing of IRS 990 forms over a long period (10 filings), indicating a commitment to regulatory compliance.
- Minimal liabilities reported in recent years ($1 in 2023 and 2022), suggesting good financial management of debt.
- Significant growth in assets to $2,159,114, providing a strong financial base, assuming the recent revenue is sustainable and well-managed.
Frequently Asked Questions about Main Street Group Foundation Inc
Is Main Street Group Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Main Street Group Foundation Inc (EIN: 201834861) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Main Street Group Foundation Inc spend its money?
Main Street Group Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Main Street Group Foundation Inc tax-deductible?
Main Street Group Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201834861). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the source of the $3,601,244 in revenue reported in the latest period, given its significant deviation from historical trends?
The IRS 990 data does not provide specific details on the source of this revenue. Further investigation into the organization's public disclosures or detailed financial statements would be needed to understand this anomaly.
How does Main Street Group Foundation Inc. manage to operate with 0% reported officer compensation?
The consistent reporting of zero officer compensation suggests that the organization may be entirely volunteer-run at the executive level, or that executive compensation is categorized differently within their expenses. Without further detail, it's difficult to ascertain the exact operational model.
What programs or activities did the organization undertake to utilize the significant increase in assets and revenue in the latest period?
The IRS 990 summary data does not detail specific program activities or how the increased funds were allocated. A review of the full 990 form, particularly Part III (Statement of Program Service Accomplishments), would be necessary.
Filing History
IRS 990 filing history for Main Street Group Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Main Street Group Foundation Inc's revenue has grown by 1323.9%, moving from $9K to $123K. Total assets increased by 972.4% over the same period, from $135K to $1.4M. Total functional expenses rose by 2073.9%, from $8K to $177K. In its most recent filing year (2023), Main Street Group Foundation Inc reported a deficit of $55K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $123K | $177K | $1.4M | $1 | — | — |
| 2022 | $114K | $150K | $1.5M | $1 | — | View 990 |
| 2021 | $186K | $127K | $1.5M | $1 | — | — |
| 2020 | $-60,629 | $3K | $98K | $0 | — | View 990 |
| 2019 | $3K | $3K | $105K | $1 | — | View 990 |
| 2015 | $-25,843 | $8K | $127K | $3K | — | View 990 |
| 2014 | $24K | $17K | $165K | $6K | — | View 990 |
| 2013 | $9K | $16K | $172K | $8K | — | View 990 |
| 2012 | $2K | $6K | $142K | $8K | — | View 990 |
| 2011 | $9K | $8K | $135K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $123K, expenses of $177K, and assets of $1.4M (revenue +8.0% year-over-year).
- 2022: Revenue of $114K, expenses of $150K, and assets of $1.5M (revenue -39.0% year-over-year).
- 2021: Revenue of $186K, expenses of $127K, and assets of $1.5M.
- 2020: Revenue of $-60,629, expenses of $3K, and assets of $98K (revenue -1867.6% year-over-year).
- 2019: Revenue of $3K, expenses of $3K, and assets of $105K.
- 2015: Revenue of $-25,843, expenses of $8K, and assets of $127K (revenue -206.6% year-over-year).
- 2014: Revenue of $24K, expenses of $17K, and assets of $165K (revenue +167.3% year-over-year).
- 2013: Revenue of $9K, expenses of $16K, and assets of $172K (revenue +310.9% year-over-year).
- 2012: Revenue of $2K, expenses of $6K, and assets of $142K (revenue -74.4% year-over-year).
- 2011: Revenue of $9K, expenses of $8K, and assets of $135K.
Data Sources and Methodology
This transparency report for Main Street Group Foundation Inc 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.