Boston Public Market
- Assets
- $10.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Boston, MA
- Founding
- 08/2010
- Data as of
- 12/2021
- EIN
- 04-3556884
Organization Overview
Boston Public Market is located in Boston, MA. The organization was established in 2010. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Boston Public Market employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Public Market is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Boston Public Market generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (20.7%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.OUR MISSION IS TO CONTINUE TO DEVELOP AND OPERATE A PERMANENT YEAR-ROUND MARKET IN BOSTON AND TO SUPPORT THE FARMERS, FISHERS, AND ENTREPRENEURS WHO GROW, CATCH, AND PRODUCE LOCAL FOOD, AND TO NOURISH OUR COMMUNITY WITH FOOD AND EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FARMERS MARKETS-IN ADDITION TO THE DEVELOPMENT AND OPERATION OF THE BOSTON PUBLICMARKET, THE BPMA OPERATES TWO SEASONAL FARMERS MARKETS IN DOWNTOWNBOSTON THAT GIVE OVER 25 LOCAL VENDORS AN URBAN SETTING TO SELL THEIRFOOD PRODUCTS. ALL ELIGIBLE VENDORS AT THE FARMERS MARKETS ANDTHE PERMANENT PUBLIC MARKET ACCEPT WIC, SENIOR COUPONS, ANDPARTICIPATE IN OUR EBT/SNAP MATCHING PROGRAM THAT ALLOWS CONSUMERS TORECEIVE DOUBLE VALUE ON PRODUCE UP TO $40 PER MONTH. FARMERS MARKETSOFFER FREE EDUCATIONAL PROGRAMMING FOR BOTH CUSTOMERS AND MEMBERS OFTHE COMMUNITY, AND ALLOW RELATED NON-PROFIT ORGANIZATIONS TOCOLLABORATE.
DEVELOPMENT AND OPERATION OF A PERMANENT MARKET -THE BOSTON PUBLIC MARKET ASSOCIATION, INC. IS THE DEVELOPER AND OPERATOR OF THE BOSTON PUBLIC MARKET (BPMA) THAT OPENED IN JULY 2015.BPMA INVESTED ADDITIONAL RESOURCES IN MARKETING, DEVELOPMENT, SMALL BUSINESS SUPPORT, AND RENT SUBSIDIES FOR ITS PERMANENT VENDORS. BPMA ALSO OPERATED A SUCCESSFUL SHORT-TERM VENDOR PROGRAM, PROVIDING AN OPPORTUNITY FOR OVER 45 DIFFERENT SMALL FOOD BUSINESSES TO SELL IN THE MARKET ON A WEEKLY BASIS. WITH OVER 2.5 MILLION VISITORS IN 2018, BPMA HAS CONTINUED TO OPERATE THE MARKET AS A PUBLIC, CIVIC SPACE WHERE ALL ARE WELCOME AND EVERY MEMBER OF THE COMMUNITY CAN LEARN MORE ABOUT THE LOCAL FOOD SYSTEM FROM SMALL, INDEPENDENT NEW ENGLAND FOOD BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Cronin CEO | Officer | 40 | $150,520 |
David Clark Treasurer | OfficerTrustee | 0.25 | $0 |
Lisa Sebesta Board Chair | OfficerTrustee | 2.5 | $0 |
Mary Jo Meisner Vice Chair | OfficerTrustee | 0.25 | $0 |
Kurt Hemr Director | Trustee | 0.25 | $0 |
Sam Thakarar Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Facility Service Janitorial | 12/30/18 | $184,052 |
Alliance Detective & Security Services Security | 12/30/18 | $143,006 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $349,619 |
| All other contributions, gifts, grants, and similar amounts not included above | $246,255 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $595,874 |
| Total Program Service Revenue | $708,715 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,304,589 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $159,680 |
| Compensation of current officers, directors, key employees. | $33,533 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,503 |
| Pension plan accruals and contributions | $2,300 |
| Other employee benefits | $40,171 |
| Payroll taxes | $35,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $74,186 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,442 |
| Advertising and promotion | $29,163 |
| Office expenses | $22,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,972 |
| Travel | $81 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $53,038 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $578,546 |
| Insurance | $44,660 |
| All other expenses | $28,364 |
| Total functional expenses | $2,138,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $532,842 |
| Savings and temporary cash investments | $106,743 |
| Pledges and grants receivable | $73,419 |
| Accounts receivable, net | $28,173 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,670 |
| Prepaid expenses and deferred charges | $3,863 |
| Net Land, buildings, and equipment | $9,772,645 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,519,355 |
| Accounts payable and accrued expenses | $199,971 |
| Grants payable | $0 |
| Deferred revenue | $475,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $669,829 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $129,871 |
| Total liabilities | $1,474,671 |
| Net assets without donor restrictions | $8,996,684 |
| Net assets with donor restrictions | $48,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,519,355 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Boston Public Market has recieved totaling $33,543.
| Awarding Organization | Amount |
|---|---|
Boston Foundation Inc Boston, MA PURPOSE: Environment/Wildlife/Agriculture | $25,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,043 |
Boston Foundation Inc Boston, MA PURPOSE: Operating Support/Annual Fund | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Third Sector Capital Partners Inc Boston, MA | $27,345,891 | $27,551,770 |
Buffalo Civic Auto Ramps Inc Buffalo, NY | $1,499,927 | $7,888,664 |
National Standards Authority Of Ireland Inc Nashua, NH | $10,467,572 | $7,964,198 |
Data & Society Research Institute New York, NY | $10,624,558 | $3,287,575 |
Bend The Arc Jewish Action Inc New York, NY | $2,917,123 | $4,796,081 |
Build Commonwealth Inc Boston, MA | $4,562,136 | $1,917,151 |
Greater Syracuse Property Development Corporation Syracuse, NY | $6,042,694 | $3,813,121 |
East Mid-Manhattan District Management Association Inc New York, NY | $3,778,894 | $3,534,351 |
New York 811 Inc Bohemia, NY | $4,587,897 | $3,122,927 |
Boston Public Market Boston, MA | $10,519,355 | $1,304,589 |
Catholic Investment Services Inc Boston, MA | $1,253,675 | $2,110,461 |
New York State Local Government Services Foundation Inc Albany, NY | $314,574 | $1,870,171 |