New Castle Main Street Inc

Nonprofit profile at a glance

EIN
472371890
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
New Castle, IN, USA
Phone
7654653703
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Reported finances

Revenue
$526,599
Expenses
$488,451
Assets
$47,719
Liabilities
$3,235

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • ED HILL (PRESIDENT)
  • AMY GLASSER (VICE PRESIDENT)
  • EMILY HURST (EXECUTIVE DIRECTOR)

Highest reported compensation

  • EMILY HURST (EXECUTIVE DIRECTOR): $38,437 total reported compensation
  • CARRIE BARRETT (PAST DIRECTOR): $29,538 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dedicated to renewing, growing and promoting downtown new castle by stimulating economic growth and fostering community pride while prserving our unique history.

What it reported doing in 2024

Forth fridays monthly event held in downtown new castle to spotlight area business and bring the community to the area. Events include music, art, and food.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 65
  • Accountability: 69
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.8%; rating input score 90
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 84.7%; rating input score 85; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.2%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 22.6% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 18.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: -11.6% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 89.8% of revenue deployed · 96.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $473K in reported program spending
  • Leadership: top reported pay $38K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.