Overview
What is Central Market Trust?
Central Market Trust is a dedicated nonprofit organization based in Lancaster, Pennsylvania, specifically at 8 North Queen Street, Room/Suite 7E. Their primary mission revolves around managing and preserving the historic Central Market in Lancaster, aiming to foster economic growth for businesses within the market while adhering to traditional market and historic preservation standards. The trust operates the Central Market as a historically viable farmers' market, safeguarding the unique 1886 building as the focal point of a historic urban community. Moreover, their work contributes to the continuation of Lancaster's rich legacy and heritage. With a small team of three dedicated individuals, Central Market Trust plays an integral role in maintaining the cultural and economic vitality of Lancaster's historic marketplace.
Official website here: www.centralmarketlancaster.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Central Market Trust has received an 87% rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization boasts a perfect score for having a majority of independent board members, with 14 members all serving independently. In terms of financial management, they demonstrate strong oversight, with no material diversion of assets and a high program expense ratio of 80.42%, showing a significant commitment to their mission.
While Central Market Trust excels in many areas, there are some limitations noted in their overall score. The organization received a lower rating in the Culture & Community category, achieving a score of 73. This suggests there may be room for improvement in areas related to equity strategies and community engagement initiatives.
Overall, Central Market Trust stands out for its strong governance and financial health, but it would benefit from enhancing its community-focused efforts. The absence of certain policies, such as a whistleblower policy, also indicates areas where the organization could strengthen its practices to build further trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Central Market Trust legitimate?
Central Market Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Central Market Trust 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: $74,457
Professional Fundraising Fees: $0
Other Salaries and Wages: $66,472
For more financial information, click here
Official website here: www.centralmarketlancaster.com
What is the mission statement of Central Market Trust?
The Central Market Trust serves as the custodian of economic growth and community engagement within a public market setting. Their primary objective is to manage the market daily, ensuring the prosperity of the businesses while adhering to traditional and preservation standards. The organization also plays a crucial role in preserving the historic 1886 building, maintaining its status as a vibrant farmers' market. Furthermore, Central Market Trust contributes to sustaining the legacy and heritage of the city, contributing to its overall historical urban community.
Official website here: www.centralmarketlancaster.com
Who is the CEO of Central Market Trust?
Joshua Lytle is the Mgr Market O of Central Market Trust.
Official website here: www.centralmarketlancaster.com
What is the revenue of Central Market Trust?
Central Market Trust's revenue in 2022 was $461,872.
Official website here: www.centralmarketlancaster.com
Who are the executives of Central Market Trust and what are their salaries?
The average compensation at Central Market Trust during 2022 was $46,976. There are 3 employees and 43 volunteers at Central Market Trust.
Here are 14 key members and their salaries:
- Compensation: $74,457
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- Other: $0
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- Other: $0
Official website here: www.centralmarketlancaster.com
Where can I find the form 990 for Central Market Trust?
Central Market Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.centralmarketlancaster.com
Learn more at the official website: www.centralmarketlancaster.com
Mission Statement of Central Market Trust
Central Market Trust, a renowned organization, is dedicated to serving as the responsible guardian of Lancaster Central Market. Its mission involves nurturing businesses, fostering relationships, and promoting community engagement within and surrounding the public market. The organization manages the daily operations of Lancaster Central Market in a manner that supports the financial well-being of the market's standholders' businesses, while upholding traditional market and historical preservation standards. Central Market Trust also safeguards and operates the Central Market as a thriving farmers' market, preserving the distinctive 1886 building as the focal point of a historic urban community. Moreover, the trust contributes to the preservation of Lancaster's continuing legacy and heritage, ensuring the market's enduring significance for generations to come.
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Impact
July, 2024
Central Market Trust's impact lies in its role as the trusted steward of Lancaster Central Market, where it cultivates businesses, relationships, and community in and around this public market. By managing and preserving the historic Central Market in Lancaster, PA, the organization plays a crucial part in facilitating the economic health of stakeholders' businesses while upholding traditional market and historic preservation standards. Moreover, Central Market Trust ensures the protection and operation of the market as a historically viable farmers' market, preserving the unique 1886 building as the centerpiece of a historic urban community. In doing so, the Trust contributes to sustaining the legacy and heritage of the city of Lancaster, making a significant impact on community improvement.
This information is meant to be a general summary of Central Market Trust. 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.
- Program Service Revenue: $399,783
- Gross Receipts: $480,358
Assets and Liabilities:
- Total Assets: $996,852
- Total Liabilities: $44,679
- Net Assets: $952,173
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FOR STANDS
Revenue
$391,802
ATM FEES, & MISC
Revenue
$7,981
Organization Details
Founding Year
2006
Phone
(717) 735-6890Principal Officer
Joshua Lytle
Main Address
8 NORTH QUEEN STREET RM/STE 7E, LANCASTER, PA, 17603
NTEE Category
Code: S31 - Community improvement
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