Overview
What is Baltimore Public Markets Corporation?
Baltimore Public Markets Corporation, established in 1995 by the city of Baltimore, serves as the manager of five community markets within the city. These markets, including Avenue, Broadway, Cross Street, Hollins, and Northeast, are renowned for their historical significance as the oldest continuously operating public market system in the United States. The corporation primarily leases spaces within these markets to merchants, typically under one to five-year lease agreements. These merchants offer a variety of fresh food and other products, contributing to the local economy and upholding Baltimore's traditional market culture. The mission of Baltimore Public Markets Corporation is to promote these markets as a catalyst for neighborhood commercial revitalization, aiming to boost the local economy and community spirit. The organization currently employs 31 individuals.
Official website here: www.bpmarkets.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The Baltimore Public Markets Corporation has received a strong Four-Star rating from Charity Navigator, reflecting its high level of accountability and finance management. The overall score indicates that the organization operates with transparency and sound financial practices, as evidenced by a program expense ratio of 91.56%, meaning a significant majority of its resources are directed towards its programs.
The nonprofit boasts an entirely independent board, which is crucial for governance and decision-making, scoring full points in both board independence and size. Other strengths include an excellent liabilities to assets ratio of 7.78%, signifying financial health, and a well-structured audit and oversight committee that has been awarded full points as well.
However, there are some areas for improvement, particularly the absence of a conflict of interest policy, which received no points. Despite this limitation, the overall positive metrics suggest that the Baltimore Public Markets Corporation is effectively fulfilling its mission and managing its resources responsibly.
This AI summary has been generated from information found on Charity Navigator.
Is Baltimore Public Markets Corporation legitimate?
Baltimore Public Markets Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Baltimore Public Markets 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: $185,645
Professional Fundraising Fees: $0
Other Salaries and Wages: $917,858
For more financial information, click here
Official website here: www.bpmarkets.com
What is the mission statement of Baltimore Public Markets Corporation?
The Baltimore Public Markets Corporation's mission is centered around promoting markets as a catalyst for neighborhood commercial revitalization. This organization operates public markets, serving as a vital platform for this revitalization process. They manage multiple markets, primarily leasing space to merchants selling fresh food and various products, under lease agreements ranging from one to five years. The markets operated by the corporation hold a long-standing tradition in Baltimore, contributing significantly to the city's reputation. The Baltimore Public Markets Corporation supports several markets, including Avenue Market, Broadway Market, Cross Street Market, Hollins Market, and Northeast Market.
Official website here: www.bpmarkets.com
Who is the CEO of Baltimore Public Markets Corporation?
Paul Ruppert is the Board Chair of Baltimore Public Markets Corporation.
Official website here: www.bpmarkets.com
What is the revenue of Baltimore Public Markets Corporation?
Baltimore Public Markets Corporation's revenue in 2022 was $2,603,111.
Official website here: www.bpmarkets.com
Who are the executives of Baltimore Public Markets Corporation and what are their salaries?
The average compensation at Baltimore Public Markets Corporation during 2022 was $35,597. There are 31 employees and 8 volunteers at Baltimore Public Markets Corporation.
Here are 13 key members and their salaries:
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- Related: $107,201
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- Other: $17,540
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- Related: $86,573
- Other: $3,630
- Compensation: $108,477
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- Other: $24,781
- Compensation: $108,928
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- Other: $26,964
Official website here: www.bpmarkets.com
Where can I find the form 990 for Baltimore Public Markets Corporation?
Baltimore Public Markets Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bpmarkets.com
Learn more at the official website: www.bpmarkets.com
Mission Statement of Baltimore Public Markets Corporation
Baltimore Public Markets Corporation (BPMC) is dedicated to promoting markets as a catalyst for neighborhood commercial revitalization. In line with this mission, BPMC operates public markets, serving as a platform to foster commercial growth within the community. Established by the city of Baltimore in 1995, the corporation manages five community markets, leasing spaces primarily under one to five-year lease agreements to merchants selling fresh food and other products. By maintaining these markets, BPMC upholds a rich tradition that has made Baltimore famously known for its public market system. This tradition continues to thrive, as the markets remain an integral part of the city's cultural heritage.
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Impact
July, 2024
The Baltimore Public Markets Corporation plays a vital role in promoting markets as a base for neighborhood commercial revitalization in Baltimore, Maryland. Established in 1995 by the city, BPMC directly manages five community markets that serve as a hub for small businesses selling fresh food and various products. These markets contribute to the city's rich tradition as the oldest continuously operating public market system in the United States. Through its operations, BPMC is actively involved in revitalizing neighborhoods and fostering community improvement in Baltimore.
This information is meant to be a general summary of Baltimore Public Markets 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: $1,969
- Program Service Revenue: $2,034,192
- Gross Receipts: $2,603,111
Assets and Liabilities:
- Total Assets: $11,139,758
- Total Liabilities: $867,124
- Net Assets: $10,272,634
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MARKET RENTAL REVENUE
Revenue
$2,034,192
Organization Details
Founding Year
1994
Phone
(410) 685-6169Principal Officer
Paul Ruppert
Main Address
400 W LEXINGTON ST 2ND FLOOR, BALTIMORE, MD, 21201
Website
www.bpmarkets.comNTEE Category
Code: S99 - Community improvement
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