Overview
What is Capitol Market Inc?
Capitol Market Inc, based in Charleston, West Virginia, is a 501(c)(3) nonprofit organization that serves as a retail, community, and economic hub for the Kanawha Valley and beyond. Situated in a historic rail depot, it aims to support small businesses and West Virginia farmers by offering a unique retail and tourist destination in the heart of downtown Charleston. The market operates both an outdoor farmers' market and indoor specialty shops, benefiting local farmers, growers, and merchants, as well as the broader community. With a team of five dedicated individuals, Capitol Market Inc plays a significant role in promoting local produce and fostering a sense of community in Charleston.
Official website here: www.capitolmarket.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Capitol Market Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The organization achieved an overall score of 88%, fully derived from the accountability and finance beacon. This score signifies a high level of transparency and responsible management of funds, essential for building trust with donors and stakeholders.
The nonprofit demonstrates notable strengths, including a fully independent board comprising 19 members, as well as robust financial oversight mechanisms. They have received top marks for their financial statements and the absence of any material diversion of assets, indicating a commitment to ethical practices and fiscal responsibility. Additionally, their program expense ratio of 86.21% suggests that a significant portion of their budget is allocated directly to their programs and services.
However, there are a couple of areas for improvement. Capitol Market Inc lacks a whistleblower policy and a document retention policy, which could enhance their governance framework. Addressing these gaps may further bolster their accountability practices and overall effectiveness as an organization.
This AI summary has been generated from information found on Charity Navigator.
Is Capitol Market Inc legitimate?
Capitol Market Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capitol 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: $62,722
Professional Fundraising Fees: $0
Other Salaries and Wages: $81,755
For more financial information, click here
Official website here: www.capitolmarket.net
What is the mission statement of Capitol Market Inc?
Capitol Market Inc, as a 501(c)(3) nonprofit, serves as a multifunctional hub in the Kanawha Valley and beyond. Its primary mission is to support small businesses and West Virginia farmers by offering a unique retail and tourist destination in the heart of a downtown area. Housed in a turn-of-the-century rail depot, Capitol Market provides an outlet for local farmers, growers, and merchants through the operation of an outdoor farmers' market and indoor specialty shops. This initiative aims to benefit both the farmers and the community, contributing to the local economy while providing residents with access to fresh produce and locally made products.
Official website here: www.capitolmarket.net
Who is the CEO of Capitol Market Inc?
Evan Osborn is the Director of Capitol Market Inc.
Official website here: www.capitolmarket.net
What is the revenue of Capitol Market Inc?
Capitol Market Inc's revenue in 2022 was $738,327.
Official website here: www.capitolmarket.net
Who are the executives of Capitol Market Inc and what are their salaries?
The average compensation at Capitol Market Inc during 2022 was $28,895. There are 5 employees at Capitol Market Inc.
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Official website here: www.capitolmarket.net
Where can I find the form 990 for Capitol Market Inc?
Capitol Market Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.capitolmarket.net
Learn more at the official website: www.capitolmarket.net
Mission Statement of Capitol Market Inc
Capitol Market Inc, a 501(c)(3) organization, serves as a multifaceted hub for the Kanawha Valley and beyond. Housed in a vintage rail depot, this nonprofit's mission is to support local small businesses and West Virginia farmers. By establishing a unique retail and tourist destination in the heart of downtown Charleston, Capitol Market Inc aims to provide a platform for West Virginia farmers, growers, and merchants to showcase their produce and wares. The organization's primary objective is to foster an economic boom within the community by offering a diverse range of specialty shops and an outdoor farmers' market. In doing so, Capitol Market Inc strives to contribute positively to the local economy and enrich the lives of those living in the area.
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Impact
October, 2024
Capitol Market Inc serves as a vital retail, community, and economic hub for the Kanawha Valley and beyond, making a significant impact on the local economy and community life. Housed in a historic rail depot, it provides a unique shopping and tourist destination that attracts both residents and visitors to downtown Charleston.
By operating an outdoor farmers' market and indoor specialty shops, Capitol Market empowers West Virginia farmers, growers, and merchants, helping to drive sales and promote local agricultural products. This focus on supporting small businesses not only bolsters the local economy but also fosters a sense of community by connecting consumers directly with local producers.
Capitol Market's commitment to community improvement is evident in its role as a gathering place, encouraging social interaction and engagement among diverse groups. Overall, its multifaceted impact enhances the quality of life in Charleston, promoting sustainability, local commerce, and a vibrant community atmosphere.
This information is meant to be a general summary of Capitol 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 2022.
- Investment Income: $400
- Program Service Revenue: $452,125
- Gross Receipts: $750,242
Assets and Liabilities:
- Total Assets: $2,752,144
- Total Liabilities: $215,489
- Net Assets: $2,536,655
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FACILITIES
Revenue
$415,771
SPECIAL EVENTS
Revenue
$28,628
GIFT CERTIFICATES
Revenue
$7,726
Organization Details
Founding Year
1997
Phone
(304) 344-1905Principal Officer
Evan Osborn
Main Address
800 SMITH STREET, CHARLESTON, WV, 25301
Website
www.capitolmarket.netNTEE Category
Code: S20 - Community improvement
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