Capitol Market Inc
- Assets
- $2.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Charleston, WV
- Founding
- 10/1997
- Data as of
- 12/2023
- EIN
- 31-1512991
Organization Overview
Capitol Market Inc is located in Charleston, WV. The organization was established in 1997. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Capitol Market Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capitol Market Inc 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 12/2023, Capitol Market Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $910.4k during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CAPITOL MARKET IS A 501(C)(3) NONPROFIT THAT SERVES AS A RETAIL, COMMUNITY, AND ECONOMIC HUB FOR THE KANAWHA VALLEY AND BEYOND. HOUSED IN A TURN-OF-THE-CENTURY RAIL DEPOT, CAPITOL MARKET IS TASKED WITH SUPPORTING SMALL BUSINESSES AND WEST VIRGINIA FARMERS THROUGH PROVIDING A UNIQUE RETAIL AND TOURIST DESTINATION IN THE HEART OF DOWNTOWN CHARLESTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF OUTDOOR FARMERS' MARKET AND INDOOR SPECIALTY SHOPS FOR THE BENEFIT OF WEST VIRGINIA FARMERS, GROWERS, AND MERCHANTS, AS WELL AS THE COMMUNITY.
OPERATION OF A FARMERS' MARKET, THE TENANTS OF WHICH ARE WEST VIRGINIA AGRICULTURAL PRODUCERS AND VENDORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Candace Nelson Director | Trustee | 0 | $0 |
Jason Chipps Director | Trustee | 0 | $0 |
Laura Ellis Director | Trustee | 0 | $0 |
Tim Cunningham Director | Trustee | 0 | $0 |
Kristen Harrison Director | Trustee | 0 | $0 |
Steven Keith President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $46,809 |
| Related organizations | $0 |
| Government grants | $445,840 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $585,350 |
| Total Program Service Revenue | $440,987 |
| Investment income | $4,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$5,720 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,053,677 |
| 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. | $80,044 |
| Compensation of current officers, directors, key employees. | $16,009 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,393 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $158,048 |
| Office expenses | $14,054 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,321 |
| Travel | $2,181 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,963 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,347 |
| Insurance | $16,130 |
| All other expenses | $0 |
| Total functional expenses | $910,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $466,727 |
| Savings and temporary cash investments | $10,665 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,429,167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,906,559 |
| Accounts payable and accrued expenses | $81,351 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $145,252 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $226,603 |
| Net assets without donor restrictions | $2,669,291 |
| Net assets with donor restrictions | $10,665 |
| 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 | $2,906,559 |