Main Street School Inc
Main Street School Inc. consistently spends more than it earns, drawing down assets.
EIN: 205360811 · Norwalk, IA · NTEE: B20 · Updated: 2026-03-28
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Main Street School Inc is mapped to EIN 205360811.
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80% program spend, health grade B
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| Metric | Value |
|---|---|
| Total Revenue | $177K |
| Total Expenses | $225K |
| Program Spending | 80% |
| Net Assets | $193K |
| Transparency Score | 65/100 |
Search Intent Cockpit
Main Street School Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Main Street School Inc 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 School Inc in one place.
Form 990 Filing Summary
14 filing years are available, with latest revenue of $191K and expenses of $225K.
Revenue and Expenses
Main Street School Inc reported $191K in revenue and $225K in expenses, a deficit of $33K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
65/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Main Street School Inc 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 | $180K (80%) |
Across stored filings, Main Street School Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
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| 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 | 14 stored filing years |
| Peer context | Compare with Latinas Unidas Por Un Nuevo Amanecer | Iowa and Education context |
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Main Street School Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Main Street School Inc
Main Street School Inc (EIN: 205360811) is a nonprofit organization based in Norwalk, IA, classified under NTEE code B20. The organization reported total revenue of $177K and total assets of $197K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Main Street School Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Main Street School Inc is a small nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 8.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $191K |
| Total Expenses | $225K |
| Surplus / Deficit | $-33,260 |
| Total Assets | $217K |
| Total Liabilities | $24K |
| Net Assets | $193K |
| Operating Margin | -17.4% |
| Debt-to-Asset Ratio | 11.0% |
| Months of Reserves | 11.6 months |
Financial Health Grade: B
In 2023, Main Street School Inc reported a deficit of $33K with expenses exceeding revenue, holds 11.6 months of operating reserves (strong position), has a debt-to-asset ratio of 11.0% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Main Street School Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.3% | +5.3% | -5.8% |
| 2022 | +10.3% | +11.5% | -6.3% |
| 2021 | -7.6% | +21.2% | -4.3% |
| 2020 | +58.8% | +12.9% | +16.3% |
| 2019 | +3.0% | -17.3% | -7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
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 School Inc with a Mission Score of 65 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 School 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 $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating a strong commitment to directing funds towards the organization's mission rather than high administrative salaries.
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 School Inc's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2021-2023 expenses exceeded revenue).
- Declining net assets over the past several years (from $289,390 in 2017 to $217,210 in 2023).
- Significant increase in liabilities in recent years (from $0 in 2016 to $23,796 in 2023).
Strengths
The following positive indicators were identified for Main Street School Inc:
- Excellent transparency with 0% reported officer compensation across all filings.
- Long history of IRS 990 filings (14 filings) indicating established operations.
- Maintains a modest asset base ($217,210 in 2023) despite recent financial challenges.
Frequently Asked Questions about Main Street School Inc
Is Main Street School Inc a legitimate charity?
Main Street School Inc (EIN: 205360811) is a registered tax-exempt nonprofit based in Iowa. Our AI analysis gives it a Mission Score of 65/100. It has 14 years of IRS 990 filings on record. Total revenue: $177K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Main Street School Inc spend its money?
Main Street School Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Main Street School Inc tax-deductible?
Main Street School Inc is registered as a tax-exempt nonprofit (EIN: 205360811). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Main Street School Inc's spending goes to programs?
Main Street School Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Main Street School Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Main Street School Inc is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Main Street School Inc located?
Main Street School Inc is headquartered in Norwalk, Iowa and files with the IRS under EIN 205360811. It is classified under NTEE code B20.
How many years of IRS 990 filings does Main Street School Inc have?
Main Street School Inc has 14 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 $177K in total revenue.
Is Main Street School Inc. financially sustainable given its recent deficit spending?
The organization has consistently spent more than its revenue in recent years (e.g., $224,690 expenses vs. $191,430 revenue in 2023), leading to a decline in assets from $289,390 in 2017 to $217,210 in 2023. This trend is not sustainable long-term without a change in financial strategy.
What is the reason for the increase in liabilities in recent years?
Liabilities have increased significantly from $0 in 2016 to $23,796 in 2023. Without further detail from the filings, the specific reasons for this increase are unclear, but it warrants investigation as it could indicate growing financial obligations.
How does Main Street School Inc. fund its operations without officer compensation?
The consistent reporting of 0% officer compensation suggests that leadership may be volunteer-based or compensated through other means not classified as officer compensation on the 990 form, which is a positive indicator of resource allocation to the mission.
What is the organization's strategy to reverse the trend of declining assets?
The organization's assets have steadily declined from a peak of $289,390 in 2017 to $217,210 in 2023. A clear strategy for increasing revenue or reducing expenses is needed to rebuild its asset base and ensure long-term financial stability.
Filing History
IRS 990 filing history for Main Street School Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Main Street School Inc's revenue has grown by 197.7%, moving from $64K to $191K. Total assets decreased by 23.1% over the same period, from $283K to $217K. Total functional expenses rose by 160.5%, from $86K to $225K. In its most recent filing year (2023), Main Street School Inc reported a deficit of $33K, with expenses exceeding revenue. The organization holds $24K in liabilities against $217K in assets (debt-to-asset ratio: 11.0%), resulting in net assets of $193K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $191K | $225K | $217K | $24K | — | — |
| 2022 | $198K | $213K | $231K | $4K | — | View 990 |
| 2021 | $179K | $192K | $246K | $4K | — | View 990 |
| 2020 | $194K | $158K | $257K | $3K | — | View 990 |
| 2019 | $122K | $140K | $221K | $3K | — | View 990 |
| 2018 | $119K | $169K | $239K | $3K | — | View 990 |
| 2017 | $220K | $165K | $289K | $3K | — | View 990 |
| 2016 | $119K | $134K | $233K | $0 | — | View 990 |
| 2015 | $124K | $131K | $248K | $0 | — | View 990 |
| 2014 | $97K | $114K | $255K | $0 | — | View 990 |
| 2013 | $104K | $112K | $272K | $0 | — | View 990 |
| 2012 | $123K | $113K | $281K | $0 | — | View 990 |
| 2011 | $106K | $118K | $271K | $0 | — | View 990 |
| 2010 | $64K | $86K | $283K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $191K, expenses of $225K, and assets of $217K (revenue -3.3% year-over-year).
- 2022: Revenue of $198K, expenses of $213K, and assets of $231K (revenue +10.3% year-over-year).
- 2021: Revenue of $179K, expenses of $192K, and assets of $246K (revenue -7.6% year-over-year).
- 2020: Revenue of $194K, expenses of $158K, and assets of $257K (revenue +58.8% year-over-year).
- 2019: Revenue of $122K, expenses of $140K, and assets of $221K (revenue +3.0% year-over-year).
- 2018: Revenue of $119K, expenses of $169K, and assets of $239K (revenue -45.9% year-over-year).
- 2017: Revenue of $220K, expenses of $165K, and assets of $289K (revenue +84.2% year-over-year).
- 2016: Revenue of $119K, expenses of $134K, and assets of $233K (revenue -4.1% year-over-year).
- 2015: Revenue of $124K, expenses of $131K, and assets of $248K (revenue +28.2% year-over-year).
- 2014: Revenue of $97K, expenses of $114K, and assets of $255K (revenue -6.4% year-over-year).
- 2013: Revenue of $104K, expenses of $112K, and assets of $272K (revenue -15.6% year-over-year).
- 2012: Revenue of $123K, expenses of $113K, and assets of $281K (revenue +15.6% year-over-year).
- 2011: Revenue of $106K, expenses of $118K, and assets of $271K (revenue +65.3% year-over-year).
- 2010: Revenue of $64K, expenses of $86K, and assets of $283K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Main Street School Inc:
Data Sources and Methodology
This transparency report for Main Street School 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.