Main Street Fairmont Inc
- Assets
- $544.0k
- Revenue
- $117.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Fairmont, WV
- Founding
- 12/1993
- Data as of
- 06/2022
- EIN
- 55-0719007
Organization Overview
Main Street Fairmont Inc is located in Fairmont, WV. The organization was established in 1993. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Main Street Fairmont Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Fairmont 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 06/2022, Main Street Fairmont Inc generated $117.7k 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 (19.2%) each year. All expenses for the organization totaled $90.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (22.1%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES TO STIMULATE ECONOMIC DEVELOPMENT IN FAIRMONT, WEST VIRGINIA WITHIN THE CONTEXT OF HISTORIC PRESERVATION THROUGH ORGANIZATION (ENCOURAGING COOPERATION AND BUILDING LEADERSHIP IN THE BUSINESS COMMUNITY), DESIGN (IMPROVING THE APPEARANCE OF DOWNTOWN FAIRMONT), AND ECONOMIC VITALITY (CREATING A BALANCED BUSINESS MIX AND EXPORING NEW MARKET NICHES).
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF HISTORIC DOWNTOWN FAIRMONT, SPONSORSHIP OF WORKSHOPS AND SEMINARS, BUSINESS RECRUITMENT, AND PUBLIC IMPROVEMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Liebrecht Executive Di | Officer | 20 | $20,583 |
Dan Swiger Executive Di | Officer | 30 | $15,000 |
Laura Candell Secretary | OfficerTrustee | 2 | $0 |
James Kane Vice Preside | OfficerTrustee | 2 | $0 |
Brad Merrifield President | OfficerTrustee | 4 | $0 |
Donna Blood Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $65,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $120,221 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,496 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $938 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $117,663 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,500 |
| 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. | $35,583 |
| Compensation of current officers, directors, key employees. | $5,058 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,267 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,819 |
| Fees for services: Management | $4,109 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,987 |
| Office expenses | $8,662 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,114 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $729 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,810 |
| All other expenses | $0 |
| Total functional expenses | $90,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,897 |
| 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 | $0 |
| Net Land, buildings, and equipment | $485,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $544,013 |
| Accounts payable and accrued expenses | $1,458 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $531,667 |
| Other liabilities | $0 |
| Total liabilities | $533,125 |
| Net assets without donor restrictions | -$14,112 |
| Net assets with donor restrictions | $25,000 |
| 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 | $544,013 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Main Street Fairmont Inc has recieved totaling $36.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Commission Of Fayette County Washington Court House, OH | $10,620,828 | $9,688,038 |
Downtown Cleveland Alliance Cleveland, OH | $4,884,612 | $9,424,862 |
Allegheny Conference On Community Development Pittsburgh, PA | $14,597,444 | $7,655,898 |
Maryland Rural Development Corporation Annapolis, MD | $2,490,801 | $9,297,615 |
Religious Coalition For Emergency Human Needs In Frederick County Frederick, MD | $4,940,518 | $9,853,659 |
Campus Partners For Community Urban Redevelopment Columbus, OH | $180,909,775 | $6,681,454 |
G M N Tri-County Community Action Committee Inc Caldwell, OH | $4,898,315 | $8,954,404 |
Lakeside Association Lakeside, OH | $18,007,265 | $9,409,090 |
National Association Of Professional Employer Organization Alexandria, VA | $9,490,281 | $8,665,299 |
Alloy Development Co Inc Cincinnati, OH | $4,726,609 | $7,810,614 |
Virginia Beach Community Development Corporation Virginia Beach, VA | $35,346,329 | $7,614,457 |
Clinch Valley Community Action Inc North Tazewell, VA | $3,516,619 | $7,158,606 |