Overview
What is The Little Market Inc?
The Little Market Inc, also known as The Little Market Foundation, is a charitable organization based in Santa Monica, California. Their primary mission involves grant-making and educational activities, focusing on social responsibility matters such as advocating for marginalized producers and workers, reducing global poverty, and empowering women. The organization supports and empowers female artisans in impoverished communities across Asia, Africa, and Latin and South America. By purchasing handicrafts from their co-ops, community-based organizations, and social enterprises at fair trade prices, they aim to promote economic independence and empowerment among women, helping to alleviate poverty in their communities. The Little Market Inc sells these handicrafts through an online marketplace on their website, marking them up to cover overhead costs while ensuring the artisans have access to necessary materials. As a member of the Fair Trade Federation, they commit to creating an accessible marketplace to support these artisans.
Official website here: www.thelittlemarket.com
What are the reviews and ratings of this charity?
77% rating from Charity Navigator indicates that The Little Market Inc has received a Three-Star out of Four Star rating, which reflects a solid performance in areas of accountability and finance. The score is derived entirely from a single beacon score, emphasizing the importance of financial transparency and governance practices within the organization.
Strengths highlighted in the evaluation include the presence of a fully independent board, effective financial oversight, and strong program expense management, with nearly 80% of funds allocated directly to programs. The organization has also implemented a variety of policies that ensure proper governance and accountability, such as conflict of interest and whistleblower policies, contributing to its positive rating.
However, there are some limitations noted, particularly in the area of financial stability, as indicated by the liabilities to assets ratio and working capital metrics. These metrics suggest potential challenges in financial sustainability and operational flexibility. Overall, while The Little Market Inc demonstrates strong governance and program effectiveness, there may be areas for improvement regarding financial health.
This AI summary has been generated from information found on Charity Navigator.
Is The Little Market Inc legitimate?
The Little Market Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Little 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: $163,846
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,492,142
For more financial information, click here
Official website here: www.thelittlemarket.com
What is the mission statement of The Little Market Inc?
The Little Market Inc's mission involves supporting the economic independence and empowerment of women in impoverished communities across Asia, Africa, and Latin and South America. They achieve this by working with cooperatives, community-based organizations, and social enterprises that include female artisans. By purchasing handicrafts from these groups at fair trade prices, which ensure a living wage, the charity aims to alleviate poverty in these communities. As a member of the Fair Trade Federation, The Little Market Inc strives to create an accessible marketplace, enabling the artisans to procure necessary production materials and receiving the remaining 50% of the payment upon delivery. The charity then sells these handicrafts through an online marketplace on their website, marking up the prices to cover their operational costs.
Official website here: www.thelittlemarket.com
Who is the CEO of The Little Market Inc?
Hannah Skvarla is the Chief Executive Officer of The Little Market Inc. The CEO's salary of The Little Market Inc is $0 and their total compensation is $0.
Official website here: www.thelittlemarket.com
What is the revenue of The Little Market Inc?
The Little Market Inc's revenue in 2022 was $6,391,735.
Official website here: www.thelittlemarket.com
Who are the executives of The Little Market Inc and what are their salaries?
The average compensation at The Little Market Inc during 2022 was $43,012. There are 85 employees and 10 volunteers at The Little Market Inc.
Here are 7 key members and their salaries (The Little Market Inc's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $163,846
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- Other: $0
Official website here: www.thelittlemarket.com
Where can I find the form 990 for The Little Market Inc?
The Little Market Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thelittlemarket.com
Learn more at the official website: www.thelittlemarket.com
Mission Statement of The Little Market Inc
The Little Market Inc, as a charitable organization, primarily focuses on working with cooperatives, community-based organizations, and social enterprises that are predominantly run by women artisans residing in impoverished communities across Asia, Africa, Latin America, and South America. Their mission is twofold: firstly, to promote the economic independence and empowerment of these women by purchasing their handicrafts at fair trade prices, ensuring they earn a living wage. Secondly, by serving as a member of the Fair Trade Federation, The Little Market Inc strives to create an accessible marketplace, enabling these artisans to purchase necessary production materials, with the remaining 50% of the payment made upon delivery. Subsequently, these handcrafted items are sold through an online marketplace on the charity's website, where they are marked up to cover the organization's overhead costs. By doing so, The Little Market Inc seeks to uplift these vulnerable communities and contribute to the alleviation of poverty.
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Impact
July, 2024
The Little Market Inc has a significant impact on supporting and empowering female artisans in impoverished communities across Asia, Africa, and Latin and South America. By purchasing handcrafted products at fair trade prices from these artisans, the organization helps to provide economic independence and relieve poverty in their communities. Through its online marketplace, The Little Market Inc creates a platform for these artisans to sell their products, thereby supporting sustainable development, fair trade principles, and greater equity in international trade. The organization's commitment to education and public awareness also contributes to securing the rights of marginalized producers and workers, reducing global poverty, and empowering women on a larger scale.
This information is meant to be a general summary of The Little 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: $4
- Gross Receipts: $8,532,332
Assets and Liabilities:
- Total Assets: $1,807,456
- Total Liabilities: $761,741
- Net Assets: $1,045,715
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Organization Details
Founding Year
2016
Phone
(800) 404-3300Principal Officer
Hannah Skvarla
Main Address
914 MONTANA AVE, SANTA MONICA, CA, 90403
Website
www.thelittlemarket.comNTEE Category
Code: Q33 - International
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