Overview
What is Reading Terminal Market Corporation?
Reading Terminal Market Corporation is a nonprofit organization based in Philadelphia, Pennsylvania, specifically at 1136 Arch Street 400, with a mission to preserve and maintain the historic character of the renowned Reading Terminal Market. Established for this purpose, the corporation ensures the market retains its original architecture and functions as an urban farmers' market. It offers a diverse range of produce, meat, fish, bakery, dairy products, and other prepared food items, providing a one-stop-shop for the public. The organization employs a team of 37 individuals to fulfill its mission.
Official website here: www.readingterminalmarket.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Reading Terminal Market Corporation has achieved a notable Four-Star rating on Charity Navigator, reflecting its strong performance in accountability and finance. The organization's overall score is derived entirely from its impressive accountability metrics, which indicate a high standard of financial management and ethical governance.
Key strengths include a fully independent board of directors and robust financial oversight mechanisms, such as an audit committee. The organization scored perfectly in various categories, including conflict of interest policies and the visibility of financial statements, which enhances trust among donors and stakeholders. Furthermore, the program expense ratio stands at an impressive 93.02%, suggesting that most of its resources are directed towards its mission.
While the ratings highlight many strengths, the organization's focus on accountability may overshadow other areas such as community engagement or program impact, which are not evaluated in this score. Overall, the solid rating reflects a strong commitment to financial responsibility and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Reading Terminal Market Corporation legitimate?
Reading Terminal Market Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reading Terminal Market Corporation 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: $1,010,160
For more financial information, click here
Official website here: www.readingterminalmarket.org
What is the mission statement of Reading Terminal Market Corporation?
The Reading Terminal Market Corporation was established with the purpose of preserving and managing the historic character of the Reading Terminal Market. Its mission is centered around maintaining the market's architectural and historical significance while functioning as an urban farmers' market. The corporation aims to offer a diverse range of fresh produce, meat, fish, baked goods, and dairy products, among other prepared food items, to the public at this marketplace.
Official website here: www.readingterminalmarket.org
Who is the CEO of Reading Terminal Market Corporation?
Eugene Lefevre is the Chairman of Reading Terminal Market Corporation.
Official website here: www.readingterminalmarket.org
What is the revenue of Reading Terminal Market Corporation?
Reading Terminal Market Corporation's revenue in 2022 was $5,282,473.
Official website here: www.readingterminalmarket.org
Who are the executives of Reading Terminal Market Corporation and what are their salaries?
The average compensation at Reading Terminal Market Corporation during 2022 was $27,302. There are 37 employees and 9 volunteers at Reading Terminal Market Corporation.
Here are 11 key members and their salaries:
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- Compensation: $119,372
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- Other: $17,218
- Compensation: $103,758
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- Other: $8,642
- Compensation: $100,859
- Related: $0
- Other: $15,770
Official website here: www.readingterminalmarket.org
Where can I find the form 990 for Reading Terminal Market Corporation?
Reading Terminal Market Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.readingterminalmarket.org
Learn more at the official website: www.readingterminalmarket.org
Mission Statement of Reading Terminal Market Corporation
Reading Terminal Market Corporation, established with a specific purpose, strives to preserve and maintain the historic character of a renowned urban farmers' market. Its primary mission is to safeguard the architectural and historical essence of the Reading Terminal Market. The organization oversees its operations, ensuring the market continues to thrive as a public market. It provides a diverse array of fresh produce, meat, fish, bakery, and dairy products, along with other prepared food items, bringing a wide variety of choices to the public. By doing so, Reading Terminal Market Corporation upholds the tradition of this significant market, ensuring its continued existence and contribution to the community.
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Impact
October, 2024
Reading Terminal Market Corporation plays a vital role in preserving the historical and architectural charm of the Reading Terminal Market in Philadelphia. By overseeing its operations, the organization ensures that this iconic urban farmers' market continues to thrive as a hub for diverse culinary offerings. It provides an array of fresh produce, meat, fish, bakery items, dairy products, and other raw and prepared foods, contributing to the local economy and food culture.
The impact of the Reading Terminal Market Corporation is multifaceted. It not only sustains the market's rich heritage but also fosters a community space that brings together residents and visitors, enhancing the vibrant atmosphere of the city. The market serves as a critical platform for local vendors, promoting small businesses and encouraging the availability of fresh, regional products. This commitment to maintaining the market's historical essence while adapting to contemporary needs helps to create a unique and enduring experience for all who visit.
This information is meant to be a general summary of Reading Terminal Market Corporation. 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 2022.
- Investment Income: $377
- Program Service Revenue: $4,585,507
- Gross Receipts: $5,282,473
Assets and Liabilities:
- Total Assets: $10,552,612
- Total Liabilities: $5,464,310
- Net Assets: $5,088,302
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPERATIONS MANAGEMENT
Revenue
$4,585,507
Organization Details
Founding Year
1995
Phone
(215) 922-2317Principal Officer
Eugene Lefevre
Main Address
1136 ARCH STREET 400, PHILADELPHIA, PA, 19107
NTEE Category
Code: T30Z - Philanthropy
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