Totals
- Total revenue
- $649,074
- Total expenses
- $644,396
- Contributions and grants received
- $646,347
- Grants paid
- $537,374
- Program service revenue
- $33,224
- Investment income
- $26
- Other revenue
- -$30,523
- Total assets, end of year
- $348,098
- Total liabilities, end of year
- $142,177
- Net assets or fund balances, end of year
- $205,921
- Program services expenses (Part IX)
- $623,247
- Management and general expenses
- $20,887
- Fundraising expenses
- $262
- Program service expenses (Part III)
- $623,247
Program services were 96.7% 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
$14,584
-
1e · Government grants (contributions)
$227,850
-
1f · All other contributions, gifts and grants
$403,913
-
2a · Program service revenue: TOURS & DEMOS
total $24,570 · related or exempt $24,570
-
2b · Program service revenue: SPACE RENTAL
total $6,207 · related or exempt $6,207
-
2c · Program service revenue: MN STATE FAIR
total $2,447 · related or exempt $2,447
-
3 · Investment income
total $26 · excluded $26
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$14,584
-
8b · Fundraising events: direct expenses
$30,523
-
8c · Net income from fundraising events
total -$30,523 · excluded -$30,523
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $537,374 · program services $537,374
-
7 · Other salaries and wages
total $75,397 · program services $60,318 · management and general $15,079
-
11c · Fees: accounting
total $3,900 · management and general $3,900
-
11e · Fees: professional fundraising services
total $262 · fundraising $262
-
12 · Advertising and promotion
total $8,134 · program services $8,134
-
13 · Office expenses
total $1,744 · program services $78 · management and general $1,666
-
19 · Conferences, conventions and meetings
total $1,414 · program services $1,414
-
22 · Depreciation, depletion and amortization
total $1,310 · program services $1,068 · management and general $242
-
24a · Other expenses: MGM CUSTOMER PARKING
total $7,836 · program services $7,836
-
24b · Other expenses: TOUR & DEMO EXPENSE
total $7,025 · program services $7,025
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $165,281 · end of year $294,519
-
4 · Accounts receivable
beginning of year $83,694 · end of year $49,227
-
8 · Inventories for sale or use
end of year $2,483
-
10a · Land, buildings and equipment: cost or other basis
$6,955
-
10b · Land, buildings and equipment: accumulated depreciation
$5,086
-
10c · Land, buildings and equipment, net
beginning of year $3,179 · end of year $1,869
-
17 · Accounts payable and accrued expenses
beginning of year $50,911 · end of year $142,177
-
27 · Net assets without donor restrictions
beginning of year $201,243 · end of year $205,921
Mission and programs · 2022
Mission
TO SUPPORT THE MIDTOWN GLOBAL MARKET AS A VITAL COMMUNITY RESOURCE THAT SUPPORTS SMALL BUSINESS, CULTURAL DIVERSITY, AND FREE/LOW-COST PROGRAMMING.
-
MIDTOWN GLOBAL MARKET HAS OVER 32 LOCALLY-OWNED BUSINESSES, AND HAS GAINED NATIONAL ATTENTION AS A VIBRANT, CULTURAL MARKET WHERE COMMUNITIES GATHER IN MINNEAPOLIS, MINNESOTA. MIDTOWN GLOBAL MARKET IS A SPACE WHERE ENTREPRENEURS CAN BRING THEIR BUSINESS DREAMS INTO A REALITY.SINCE THE MARKET HAS A COMMUNITY DEVELOPMENT MISSION AND IS NOT IN EXISTENCE TO MAKE A PROFIT, ONE OF THE PRIMARY PARTS OF OUR MISSION IS TO TRAIN AND SUPPORT THE ENTREPRENEURS AND SMALL BUSINESSES INSIDE THE MARKET IN MANY DIFFERENT WAYS, AT NO COST TO THEM.FRIENDS OF GLOBAL MARKET SUPPORTS THE MISSION OF MIDTOWN GLOBAL MARKET BY BUILDING THE "FRIENDS" TO THE MARKET AND HELPING KEEP THE MARKET A PLACE OF RESOURCE FOR OUR SMALL BUSINESS OWNERS AND THE COMMUNITY. WE WILL HELP BUILD THE LEGACY OF THE MIDTOWN GLOBAL MARKET.
Expenses $623,247 · Grants $537,374 · Revenue $33,224
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Atum AzzahirATUM AZZAHIR
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Michael GozeMICHAEL GOZE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mihailo TemaliMIHAILO TEMALI
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Howard OrensteinHOWARD ORENSTEIN
TREASURER
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
-
MIDTOWN GLOBAL MARKET LLC
$537,374
OPERATING SUBSIDY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312489349301346
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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