Overview
What is One World Market Inc?
One World Market Inc is a nonprofit organization situated in Ithaca, New York, specifically at 171 E State St. Their primary objective is to establish a retail store in the local area, with a focus on showcasing handicrafts created by disadvantaged artisans from economically challenged regions worldwide. By operating this store, they aim to raise awareness within the Tompkins County community regarding the economic conditions of these artisans. They achieve this goal through thoughtfully curated store displays and promotional sales. Currently, One World Market Inc employs ten people, contributing to their mission of bridging the gap between the global community and local residents.
Official website here: www.owmithaca.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star Rating)
One World Market Inc has received a three-star rating from Charity Navigator, reflecting an overall score of 83%. This rating is primarily based on the organization's performance in Accountability & Finance, where it scored an impressive 83%. The high rating indicates effective financial management and a commitment to transparency, with a notable program expense ratio of 97.78%, demonstrating that the majority of funds are directed toward mission-related activities.
The organization has strengths in governance, notably having a fully independent board of directors, with all eight members fulfilling this role. Additionally, there are no reported issues with asset diversion, and the charity maintains a conflict of interest policy. However, there are areas for improvement, as the organization lacks a whistleblower policy and has not provided a document retention and destruction policy, both of which are crucial for accountability.
Furthermore, while the charity's website is listed on its tax form, it does not post its tax documents online, which limits accessibility for potential donors and supporters seeking more information. Overall, while One World Market Inc shows strong fiscal responsibility and governance, addressing the noted weaknesses would enhance its transparency and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is One World Market Inc legitimate?
One World Market Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. One World Market Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $83,426
For more financial information, click here
Official website here: www.owmithaca.com
What is the mission statement of One World Market Inc?
One World Market Inc's mission is centered around operating a retail store, specifically in promoting handicrafts created by disadvantaged artisans hailing from impoverished regions globally. Their primary objective is to raise awareness within the local community regarding the economic circumstances of these artisans, which they accomplish through store displays and promotional sales.
Official website here: www.owmithaca.com
Who is the CEO of One World Market Inc?
John Fracchia is the President of One World Market Inc.
Official website here: www.owmithaca.com
What is the revenue of One World Market Inc?
One World Market Inc's revenue in 2023 was $85,350.
Official website here: www.owmithaca.com
Who are the executives of One World Market Inc and what are their salaries?
The average compensation at One World Market Inc during 2023 was $8,343. There are 10 employees and 19 volunteers at One World Market Inc.
Here are 10 key members and their salaries:
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- Compensation: $30,600
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Official website here: www.owmithaca.com
Where can I find the form 990 for One World Market Inc?
One World Market Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.owmithaca.com
Learn more at the official website: www.owmithaca.com
Mission Statement of One World Market Inc
One World Market Inc, as per its Form 990, operates with a mission to promote awareness about the economic status of disadvantaged artisans hailing from impoverished regions globally. The organization achieves this by operating a retail store in an unspecified location, primarily focusing on marketing handcrafted items produced by these artisans within the Tompkins County area. By showcasing these handcrafts in their store and through promotional sales, One World Market Inc seeks to educate the local community about the economic challenges faced by these artisans. This mission serves as a means to support these artisans financially while raising awareness and fostering empathy within the community.
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Impact
October, 2024
One World Market Inc significantly impacts the local community in Ithaca, NY, by operating a retail store dedicated to marketing handicrafts made by disadvantaged artisans from impoverished regions around the globe. This initiative not only provides a platform for these artisans to sell their products but also raises awareness among local consumers regarding the economic challenges faced by these communities.
Through its store displays and promotional sales, One World Market educates the Tompkins County area about the artisans’ stories and the context of their work, fostering a deeper understanding and appreciation for their craftsmanship. By connecting local consumers with global artisans, the organization helps create a more informed and empathetic community that values handmade products and the cultural significance behind them.
Additionally, One World Market plays a role in promoting fair trade principles, ensuring that artisans receive fair compensation for their work. This support helps improve the livelihoods of these artisans and contributes to sustainable economic development in their communities. Thus, One World Market Inc serves as a vital link between the global artisan economy and the local Ithaca community, enriching both through its mission.
This information is meant to be a general summary of One World Market Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $413
- Gross Receipts: $237,589
Assets and Liabilities:
- Total Assets: $88,910
- Total Liabilities: $6,878
- Net Assets: $82,032
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Organization Details
Founding Year
2001
Phone
(607) 256-0616Principal Officer
John Fracchia
Main Address
171 E State St, Ithaca, NY, 14850
Website
www.owmithaca.comNTEE Category
Code: P29 - Human services
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