THE X MAIN STREET CORPORATION

EIN: 043339350 501(c)(3) Community Improvement

INDIAN ORCHARD, MA

Total Revenue
$1,395
Total Expenses
$18,388
Total Assets
$100,869
Net Assets
$100,869
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
MA
Principal Officer
BRIAN HALE
Phone
4132712021
Tax Period
2021-07-01 to 2022-06-30

THE X MAIN STREET CORPORATION, founded in 1996, is a micro nonprofit in the Community Improvement sector that reported $1K in total revenue in fiscal year 2021. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $18K exceeded revenue, resulting in a 1218% operating deficit.

Mission

THE X MAIN STREET CORPORATION IS A 501 (C) 3 NON-PROFIT FOUNDED IN 1995 TO HELP REVITALIZE SPRINGFIELD'S FOREST PARK NEIGHBORHOOD AND SURROUNDING COMMUNITIES BY IMPROVING QUALITY OF LIFE FOR RESIDENTS, BUSINESSES AND VISITORS. THE ORGANIZATION HAS FOCUSED ON PROVIDING GREATER ARTS ACCESSIBILITY THROUGH ECLECTIC AND COMPELLING COMMUNITY CULTURAL PROGRAMMING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $1,134
Program Service Revenue $0
Investment Income $261
Other Revenue $0
TOTAL REVENUE $1,395

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,200
Fundraising Expenses $477
Program Expenses $14,736
Other Expenses $11,188
TOTAL EXPENSES $18,388

Year-over-Year Comparison

2021 2020 Change
Revenue $1,395 $51,481 -1.0%
Expenses $18,388 $23,494 -0.2%
Net Income $-16,993 $27,987 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
12

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$7,200
Total Directors
10
$7,200
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN HALE PRESIDENT 10.00
Officer Director
$7,200 $0 $7,200
WARREN AMERMAN TREASURER 0.50
Officer Director
$0 $0 $0
SHEILA BYRNE DIRECTOR 0.25
Director
$0 $0 $0
NICOLE GLEASON DIRECTOR 0.25
Director
$0 $0 $0
MAGDALENA GOMEZ DIRECTOR 0.25
Director
$0 $0 $0
PRIYA NADKARNI GREEN CLERK 0.25
Officer Director
$0 $0 $0
MARTY LANGFORD DIRECTOR 0.25
Director
$0 $0 $0
KRISTIN NEVILLE DIRECTOR 0.25
Director
$0 $0 $0
DANIEL STEZKO VICE PRESIDE 0.25
Officer Director
$0 $0 $0
GLENN YARNELL DIRECTOR 0.25
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $1,395 $18,388 $100,869 $-16,993
2021 $51,481 $23,494 $118,512 $27,987
2020 $15,038 $21,476 $114,079 $-6,438
2019 $20,893 $26,440 $122,186 $-5,547
2018 $32,224 $46,512 $128,407 $-14,288
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