Totals
- Total revenue
- $4,869,009
- Total expenses
- $6,029,449
- Contributions and grants received
- $3,409,189
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $40,151
- Other revenue
- $1,419,669
- Total assets, end of year
- $10,937,880
- Total liabilities, end of year
- $304,733
- Net assets or fund balances, end of year
- $10,633,147
- Program services expenses (Part IX)
- $4,726,888
- Management and general expenses
- $915,414
- Fundraising expenses
- $387,147
- Program service expenses (Part III)
- $4,726,888
Program services were 78.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$149,412
-
1d · Related organizations
$354,370
-
1e · Government grants (contributions)
$678,138
-
1f · All other contributions, gifts and grants
$2,227,269
-
3 · Investment income
total $118,981 · excluded $118,981
-
5 · Royalties
total $30,000 · excluded $30,000
-
6a · Gross rents
real property $1,403,274
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $1,403,274
-
6d · Net rental income or loss
total $1,403,274 · related or exempt $1,403,274
-
7b · Less cost or other basis and sales expenses
other assets $78,830
-
7c · Gain or loss
other assets -$78,830
-
7d · Net gain or loss
total -$78,830 · excluded -$78,830
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$149,412
-
8b · Fundraising events: direct expenses
$108,809
-
8c · Net income from fundraising events
total -$108,809 · excluded -$108,809
-
10a · Gross sales of inventory
$210,961
-
10b · Cost of goods sold
$183,738
-
10c · Net income from sales of inventory
total $27,223 · related or exempt $27,223
-
11d · All other revenue
total $67,981 · related or exempt $67,981
-
11e · Other revenue, total
$67,981
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $198,303 · program services $144,762 · management and general $29,745 · fundraising $23,796
-
7 · Other salaries and wages
total $2,385,169 · program services $1,741,173 · management and general $357,776 · fundraising $286,220
-
11b · Fees: legal
total $44,227 · program services $44,227
-
11c · Fees: accounting
total $25,778 · program services $25,778
-
11g · Fees: other
total $439,792 · program services $193,358 · management and general $224,031 · fundraising $22,403
-
12 · Advertising and promotion
total $47,618 · program services $42,856 · management and general $2,381 · fundraising $2,381
-
13 · Office expenses
total $260,252 · program services $138,523 · management and general $70,773 · fundraising $50,956
-
16 · Occupancy
total $484,427 · program services $433,462 · management and general $50,965
-
17 · Travel
total $32,135 · program services $7,981 · management and general $24,154
-
22 · Depreciation, depletion and amortization
total $689,138 · program services $605,580 · management and general $83,558
-
23 · Insurance
total $75,996 · program services $64,596 · management and general $11,400
-
24a · Other expenses: PROGRAM EXPENSES
total $780,878 · program services $780,878
-
24b · Other expenses: GROUNDS
total $337,827 · program services $303,206 · management and general $34,621
-
24c · Other expenses: MAINTENANCE
total $194,901 · program services $175,411 · management and general $19,490
-
24d · Other expenses: BAD DEBT EXPENSE
total $5,163 · program services $5,163
-
24e · All other expenses
total $27,845 · program services $19,934 · management and general $6,520 · fundraising $1,391
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $860,935 · end of year $411,588
-
3 · Pledges and grants receivable
beginning of year $1,348,250 · end of year $165,950
-
4 · Accounts receivable
beginning of year $204,375 · end of year $122,251
-
7 · Other notes and loans receivable
beginning of year $200,000 · end of year $176,093
-
9 · Prepaid expenses and deferred charges
beginning of year $1,669,869 · end of year $1,709,441
-
10a · Land, buildings and equipment: cost or other basis
$16,571,731
-
10b · Land, buildings and equipment: accumulated depreciation
$8,320,266
-
10c · Land, buildings and equipment, net
beginning of year $8,172,046 · end of year $8,251,465
-
15 · Other assets
beginning of year $79,978 · end of year $101,092
-
17 · Accounts payable and accrued expenses
beginning of year $210,776 · end of year $192,872
-
19 · Deferred revenue
beginning of year $94,821 · end of year $91,387
-
23 · Secured mortgages and notes payable
beginning of year $18,404
-
25 · Other liabilities
beginning of year $417,865 · end of year $20,474
-
27 · Net assets without donor restrictions
beginning of year $9,183,882 · end of year $8,463,953
-
28 · Net assets with donor restrictions
beginning of year $2,609,705 · end of year $2,169,194
Mission and programs · 2022
Mission
EASTERN MARKET IS ORGANIZED TO COMBAT COMMUNITY DETERIORATION AND TO LESSEN THE BURDENS OF GOVERNMENT IN MANAGING ITS PUBLIC MARKET THAT HAS SERVED DETROIT SINCE 1891.EASTERN MARKET OPERATES THE MARKET UNDER AN AGREEMENT WITH THE CITY OF DETROIT, WHICH OWNS THE FACILITY. EASTERN MARKET HAS DEVELOPED A CAPITAL IMPROVEMENT PLAN AND IS IMPLEMENTING A SERIES OF CAPITAL IMPROVEMENTS TO IMPROVE THE MARKET'S ABILITY TO SERVE AS A FOOD CENTER FOR DETROIT AND AS A CATALYST FOR ECONOMIC DEVELOPMENT. THE STAKEHOLDERS' VISION FOR THE EASTERN MARKET DISTRICT (THE "MARKET") IS TO LEVERAGE THE ATTRACTION AND LEGACY OF THE MARKET, TO BUILD A DYNAMIC, DIVERSE, AND UNIQUE URBAN DISTRICT, AND TO STRENGTHEN THE IDENTITY OF THE MARKET AS A FOOD-RELATED DISTRICT BY ENHANCING THE OPERATIONS OF THE EXISTING PUBLIC MARKET AND BY DEVELOPING BUSINESS OPPORTUNITIES FOR SPECIALTY FOOD RETAILERS, FOOD WHOLESALE OPERATIONS, RESTAURANTS, FOOD DISTRIBUTORS, AND FOOD PROCESSORS.
Activities or mission (Part I)
THE MISSION OF EASTERN MARKET CORPORATION ("EASTERN MARKET") IS TO LEVERAGE ITS DYNAMIC HISTORY, MANAGE OPERATIONS, DEVELOP PROGRAMS, BUILD FACILITIES, AND PROVIDE CRITICAL INFRASTRUCTURE TO STRENGTHEN THE EASTERN MARKET DISTRICT, IMPROVE ACCESS TO HEALTHY, GREEN, AFFORDABLE, AND FAIR FOOD CHOICES IN DETROIT AND THROUGHOUT SOUTHEAST MICHIGAN, AND FORTIFY THE FOOD SECTOR AS A PILLAR OF REGIONAL ECONOMIC GROWTH.
-
PUBLIC MARKET ACTIVITIES: FEES FOR THE USE OF MARKET FACILITIES AND LOTS, AS WELL AS SHED STALL LEASES TO PROVIDE MARKET VENDORS ACCESS TO THE PUBLIC IN A CENTRALIZED LOCATION INCLUDING 52 SATURDAY MARKETS, NUMEROUS SUNDAY AND TUESDAY MARKETS, AND SEVERAL PRIVATE FACILITY RENTALS
Expenses $3,308,822 · Revenue $1,403,274
-
FOOD ACCESS SUPPORT PROGRAM: COMMUNITY BASED POP-UP MOBILE MARKET THAT IMPROVES ACCESS TO FRESH, HEALTHY FOOD AND PROVIDES NUTRITION EDUCATION
Expenses $1,418,066 · Revenue $95,204
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Cindy PaskyCINDY PASKY
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Donald RencherDONALD RENCHER
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Drew PatrickDREW PATRICK
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Judith McNeelyJUDITH MCNEELY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Bj BelcoureBJ BELCOURE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jay BonahoomJAY BONAHOOM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ron BrundidgeRON BRUNDIDGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fred DurhalFRED DURHAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frank GermackFRANK GERMACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Violet GintsisVIOLET GINTSIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Armond HarrisARMOND HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Latisha JohnsonLATISHA JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark KaltzMARK KALTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan KungJONATHAN KUNG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Carlos ParisiCARLOS PARISI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Luke PolcynLUKE POLCYN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vince SannaVINCE SANNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joe SpencerJOE SPENCER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sandra Yu StahiSANDRA YU STAHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tosha TabronTOSHA TABRON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joni Thrower-DavisJONI THROWER-DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Daniel CarmodyDANIEL CARMODY
PRESIDENT AND C.E.O.
- Total calculated
- $200,903
- From this org
- $198,303
- From related orgs
- $0
- Other
- $2,600
- Hours/week
- 50 + 1 related
Schedule J breakdown matched by us
- Base
- $155,000
- Bonus
- $25,000
- Other
- $18,303
- Deferred
- $2,600
- Nontaxable benefits
- $0
- Filer's total
- $200,903
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
EASTERN MARKET DEVELOPMENT CORPORATION
501(C)(3) · BUSINESS AND RESOURCE DEVELOPMENT · MI · controlled entity
Directly controlled by EASTERN MARKET CORPORATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349300805
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