Overview
What is Madison Public Market Foundation Inc?
Madison Public Market Foundation Inc is a nonprofit organization with a vision to establish a year-round public marketplace in Madison, Wisconsin. This marketplace aims to provide a platform for both new entrepreneurs and established local favorites, fostering their business growth and success. The marketplace emphasizes equity through entrepreneurship and prioritizes businesses owned by women, people of color, and first-generation immigrants. A significant portion of the market will be dedicated to a Food Innovation Business Center, named MarketReady Hall, which will support the growth of small food-related businesses by offering affordable and shared commercial food production equipment and infrastructure. The foundation is currently in the startup phase, conducting a capital campaign, and plans to commence its operations within the next few years.
Official website here: www.madisonpublicmarket.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating.
The Madison Public Market Foundation Inc has received a low rating primarily due to its performance in accountability and finance. While it boasts a fully independent board and strong governance policies, it struggles significantly with financial metrics, particularly its program expense ratio and liabilities to assets ratio, which resulted in zero points in these areas.
The organization demonstrates strengths in governance, with comprehensive policies in place for conflict of interest, whistleblower protection, and document retention. However, the absence of its tax form on the nonprofit’s website raises concerns about transparency and accessibility of financial information to the public.
Overall, while the Madison Public Market Foundation Inc has solid governance practices, the financial performance indicators suggest a need for improvement to better demonstrate its commitment to effective programs and responsible fiscal management. It is essential for potential donors to consider these factors when assessing the organization's overall impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Public Market Foundation Inc legitimate?
Madison Public Market Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Public Market Foundation 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: $0
Professional Fundraising Fees: $38,250
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.madisonpublicmarket.org
What is the mission statement of Madison Public Market Foundation Inc?
The Madison Public Market Foundation Inc's mission is centered around creating a thriving, year-round public marketplace. This marketplace aims to serve as a platform for both new entrepreneurs and established favorites in the city, fostering growth and success for their businesses. The foundation emphasizes equity through entrepreneurship, particularly focusing on providing opportunities for businesses owned by women, people of color, and first-generation immigrants. MarketReady Hall, a part of this marketplace, will house a food innovation business center, supporting the growth of small businesses wishing to develop food-related products. Entrepreneurs will be provided with affordable access to commercial food production equipment and infrastructure, which are typically out of reach for low-capital start-ups.
Official website here: www.madisonpublicmarket.org
Who is the CEO of Madison Public Market Foundation Inc?
Willa Aldstadt is the President of Madison Public Market Foundation Inc.
Official website here: www.madisonpublicmarket.org
What is the revenue of Madison Public Market Foundation Inc?
Madison Public Market Foundation Inc's revenue in 2022 was $739,126.
Official website here: www.madisonpublicmarket.org
Who are the executives of Madison Public Market Foundation Inc and what are their salaries?
There 12 volunteers at Madison Public Market Foundation Inc.
Here are 10 key members and their salaries:
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Official website here: www.madisonpublicmarket.org
Where can I find the form 990 for Madison Public Market Foundation Inc?
Madison Public Market Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisonpublicmarket.org
Learn more at the official website: www.madisonpublicmarket.org
Mission Statement of Madison Public Market Foundation Inc
Madison Public Market Foundation Inc aims to establish a lively, year-round public marketplace that serves as a nurturing ground for both emerging and established local businesses in Madison. The foundation emphasizes equity through entrepreneurship, with a particular focus on providing opportunities for women, people of color, and first-generation immigrants to launch their ventures. Markets readied hall, a part of this project, will house a food innovation business center that supports the expansion of small businesses specializing in food-related products. Entrepreneurs will have affordable, shared access to commercial food production equipment and infrastructure, often out of reach for start-ups with limited capital. This initiative aims to foster a vibrant marketplace where diverse businesses can thrive and find success.
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Impact
July, 2024
Madison Public Market Foundation Inc's impact lies in its vision of creating a year-round public marketplace in Madison that supports the growth and success of new and established businesses. Emphasizing equity through entrepreneurship, the foundation aims to promote the market and garner community support through hosting events featuring potential vendors who offer unique culinary and artisan experiences. By focusing on fostering a vibrant marketplace that benefits both businesses and the community, the foundation is working towards improving the local economy and creating a space for diverse voices and talents to thrive.
This information is meant to be a general summary of Madison Public Market Foundation 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: $921
- Gross Receipts: $739,126
Assets and Liabilities:
- Total Assets: $2,450,649
- Total Liabilities: $1,631,646
- Net Assets: $819,003
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Organization Details
Founding Year
2017
Phone
(608) 698-0754Principal Officer
Willa Aldstadt
Main Address
PO BOX 260026, MADISON, WI, 53726
Website
www.madisonpublicmarket.orgNTEE Category
Code: S11 - Community improvement
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