Overview
What is Lexington Market Inc?
Lexington Market Inc, situated in Baltimore, Maryland, serves as a manager and operator of the market facilities located within the city. Their primary role involves overseeing more than 100 vendors, providing an array of affordable food, produce, and goods options. The market caters to various local businesses, independently owned establishments, and regional farmers, thereby fostering a vibrant and diverse marketplace. Lexington Market Inc's mission is to manage the market on behalf of the City of Baltimore, contributing to the local economy and community by offering diverse and affordable vending opportunities. The organization employs a staff of 58 individuals, maintaining a strong presence within the city.
Official website here: www.lexingtonmarket.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92% (Four-Star out of Four Star rating)
Lexington Market Inc has received a commendable Four-Star rating from Charity Navigator, reflecting a strong focus on accountability and financial practices. The charity scored 92% overall, with its accountability and finance metrics being the sole contributing factor. This highlights their commitment to responsible governance and effective financial management.
One of the notable strengths of Lexington Market Inc is its fully independent board, which consists of eight members, ensuring a diverse range of perspectives and reducing potential conflicts of interest. Additionally, the organization has robust financial oversight, with no material diversion of assets reported and a healthy liabilities to assets ratio of 24.05%. The high program expense ratio of 78.98% indicates that most of their funds are directed towards their programs rather than administrative costs.
However, there are areas for improvement. While the charity has several strong policies in place, it lacks a conflict of interest policy, which is a critical aspect of governance that could enhance transparency further. Addressing this gap could strengthen their accountability profile and build greater trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Lexington Market Inc legitimate?
Lexington Market Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexington 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: $185,645
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,406,588
For more financial information, click here
Official website here: www.lexingtonmarket.com
What is the mission statement of Lexington Market Inc?
Lexington Market Inc's mission is centered around managing a market on behalf of a city, in this case, Baltimore. Their primary role is to oversee and operate the facilities, accommodating over 100 vendors offering a variety of food, produce, and other goods. The organization is committed to providing affordable vending opportunities, particularly supporting independent, locally-owned businesses and regional farmers. By doing so, Lexington Market Inc contributes to the vibrancy and diversity of the market, offering a wide range of products to its customers.
Official website here: www.lexingtonmarket.com
Who is the CEO of Lexington Market Inc?
Paul Ruppert is the Board Chair of Lexington Market Inc.
Official website here: www.lexingtonmarket.com
What is the revenue of Lexington Market Inc?
Lexington Market Inc's revenue in 2022 was $5,979,904.
Official website here: www.lexingtonmarket.com
Who are the executives of Lexington Market Inc and what are their salaries?
The average compensation at Lexington Market Inc during 2022 was $27,452. There are 58 employees and 8 volunteers at Lexington Market Inc.
Here are 12 key members and their salaries:
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- Compensation: $107,201
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- Other: $13,541
- Compensation: $128,029
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- Other: $17,540
- Compensation: $86,573
- Related: $0
- Other: $3,630
- Compensation: $116,655
- Related: $0
- Other: $16,437
Official website here: www.lexingtonmarket.com
Where can I find the form 990 for Lexington Market Inc?
Lexington Market Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lexingtonmarket.com
Learn more at the official website: www.lexingtonmarket.com
Mission Statement of Lexington Market Inc
Lexington Market Inc, as a nonprofit organization, is dedicated to managing Lexington Market on behalf of the City of Baltimore. This responsibility encompasses overseeing the facilities located in Baltimore City, Maryland, and serving more than 100 vendors. These vendors offer a diverse range of products, including various types of food, produce, and other goods, catering to a wide array of customers.
Lexington Market Inc plays a significant role in providing affordable vending opportunities, particularly for locally-owned, independent businesses and regional farmers. By managing the market, this organization contributes to maintaining a vibrant and diverse marketplace, providing an essential service to the community. The mission of Lexington Market Inc can be summarized as their commitment to effectively manage the market, ensuring a thriving environment for vendors and offering affordable goods to the public.
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Impact
July, 2024
Lexington Market Inc, through its management and operation of the historic Lexington Market in Baltimore, Maryland, has a significant impact on the local community and economy. By providing vendor and merchant services to over 100 vendors offering a variety of foods, produce, and goods, Lexington Market plays a crucial role in supporting independent, locally-owned businesses and regional farmers. Additionally, the market provides affordable vending opportunities, benefiting both vendors and customers alike. As a hub for food and commerce, Lexington Market contributes to the vibrancy of the city and serves as a beloved gathering place for residents and visitors.
This information is meant to be a general summary of Lexington 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: $10,642
- Program Service Revenue: $2,652,170
- Gross Receipts: $5,982,309
Assets and Liabilities:
- Total Assets: $34,272,754
- Total Liabilities: $8,244,533
- Net Assets: $26,028,221
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MARKET OPERATIONS
Revenue
$1,338,305
GARAGE OPERATIONS
Revenue
$1,194,887
SOUTH LOT REVENUE
Revenue
$118,978
Organization Details
Founding Year
1979
Phone
(410) 685-6169Principal Officer
Paul Ruppert
Main Address
400 WEST LEXINGTON STREET, BALTIMORE, MD, 21201
Website
www.lexingtonmarket.comNTEE Category
Code: K300 - Food
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