Main Street Highland Park Inc.

Overview Main Street Highland Park Inc. is a nonprofit organization focused on community improvement and neighborhood development. It is categorized under Community, Neighborhood Development, Improvement (General) in the National Taxonomy of Exempt Entities (NTEE).

Mission

The mission of Main Street Highland Park Inc. involves the historical preservation of the Highland Park business district through economic revitalization. This approach aligns with efforts to enhance and sustain local businesses and historical areas.

History

Founded in 2003, Main Street Highland Park Inc. aims to maintain and improve the local environment, supporting local businesses and community development projects.

Financial Overview

Main Street Highland Park Inc. operates primarily through revenue from program services, which have constituted a significant portion of its income in recent years. In some years, contributions were also reported, although they have not been a primary source of revenue in recent financial reports.

The organization's expenses are managed across various categories, including executive compensation and other salaries and wages.

Tax Status

Initially, it was noted that donations to this organization are not tax-deductible. However, recent updates indicate that Main Street Highland Park Inc. has been registered as a 501(c)(3) entity, which typically allows for tax-deductible donations, but this status may have undergone changes. Clarification is needed to confirm its current status regarding tax-deductible contributions.

Financial Assets and Liabilities

As of recent filings, Main Street Highland Park Inc. has reported total assets and no total liabilities, indicating a stable financial position without outstanding debts.

Conclusion

Main Street Highland Park Inc. plays a crucial role in preserving and revitalizing the local business district, contributing to community improvement efforts. Its financial operations highlight the reliance on program services revenue, though the organization's tax status might need further clarification for donors.