Lexington Market Inc
- Assets
- $34.3m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 58
- Location
- Baltimore, MD
- Founding
- 11/1981
- Data as of
- 06/2022
- EIN
- 52-1163034
Organization Overview
Lexington Market Inc is located in Baltimore, MD. The organization was established in 1981. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2022, Lexington Market Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington 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 06/2022, Lexington Market Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $4.5m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MANAGE LEXINGTON MARKET ON BEHALF OF THE CITY OF BALTIMORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VENDOR AND MERCHANT SERVICES - LEXINGTON MARKET, INC. MANAGES AND OPERATES THE MARKET FACILITIES LOCATED IN BALTIMORE CITY, MARYLAND. LEXINGTON MARKET SERVICES MORE THAN 100 VENDORS, OFFERING VARIOUS TYPES OF FOODS, PRODUCE, AND OTHER GOODS. LEXINGTON MARKET PROVIDES AFFORDABLE VENDING OPPORTUNITIES, PARTICULARLY FOR INDEPENDENT, LOCALLY-OWNED BUSINESSES AND REGIONAL FARMERS.
GARAGE AND PARKING SERVICES - LEXINGTON MARKET WAS DESIGNATED BY THE CITY OF BALTIMORE AS ITS AGENT AND OPERATOR OF TWO PARKING FACILITIES NEAR THE LEXINGTON MARKET BUILDING. LEXINGTON MARKET LEASES GARAGE SPACE AND PROVIDES PARKING AT A REDUCED RATE TO LOCAL BUSINESSES AND PATRONS OF THE MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bennice Thayer Dir. Of Finance And Admin. | Officer | 20 | $128,029 |
David O'donnell Director Of Development | 40 | $116,655 | |
Robert Thomas Exec Director & Board Secretary Until July 2021 | Officer | 20 | $107,201 |
Paul Ruppert Presidentceo & Board Secretary As Of July 2021 | Officer | 20 | $86,573 |
Jennell Rogers Treasurer | OfficerTrustee | 0.15 | $0 |
Colin Tarbert Board Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Seawall Development Company Llc Building Planning | 6/29/20 | $339,312 |
Bct Architects Llc Architect Services | 6/29/20 | $494,250 |
Bct Architects Llc Architect Services | 6/29/20 | $494,250 |
Seawall Development Company Llc Building Planning | 6/29/20 | $339,312 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,563,589 |
| All other contributions, gifts, grants, and similar amounts not included above | $750,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,313,589 |
| Total Program Service Revenue | $2,652,170 |
| Investment income | $12,297 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,979,904 |
| 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. | $185,645 |
| Compensation of current officers, directors, key employees. | $45,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,406,588 |
| Pension plan accruals and contributions | $111,579 |
| Other employee benefits | $293,944 |
| Payroll taxes | $159,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,324 |
| Fees for services: Accounting | $28,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,637 |
| Advertising and promotion | $6,003 |
| Office expenses | $118,355 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $821,350 |
| Travel | $1,504 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,922 |
| Interest | $93,121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $562,777 |
| Insurance | $51,363 |
| All other expenses | $2,426 |
| Total functional expenses | $4,506,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,081,962 |
| Savings and temporary cash investments | $1,963,955 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,112,996 |
| 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 | $30,854 |
| Net Land, buildings, and equipment | $6,446,146 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,180,847 |
| Intangible assets | $97,205 |
| Other assets | $2,358,789 |
| Total assets | $34,272,754 |
| Accounts payable and accrued expenses | $866,071 |
| Grants payable | $0 |
| Deferred revenue | $2,109 |
| 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 | $6,487,749 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $888,604 |
| Total liabilities | $8,244,533 |
| Net assets without donor restrictions | $26,028,221 |
| Net assets with donor restrictions | $0 |
| 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 | $34,272,754 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lexington Market Inc has recieved totaling $75,000.
| Awarding Organization | Amount |
|---|---|
T Rowe Price Foundation Baltimore, MD PURPOSE: FINANCIAL WELL-BEING | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marthas Table Washington, DC | $73,899,963 | $20,164,385 |
412 Food Rescue Inc Pittsburgh, PA | $6,363,221 | $17,851,896 |
Food Research & Action Center Inc Washington, DC | $11,081,726 | $13,011,283 |
School Nutrition Association Inc Arlington, VA | $16,052,555 | $7,166,354 |
Bread For The World Inc Washington, DC | $10,817,860 | $6,419,987 |
Lexington Market Inc Baltimore, MD | $34,272,754 | $5,979,904 |
Means Database Inc Washington, DC | $202,250 | $395,546 |
Pauls Place Inc Baltimore, MD | $14,169,802 | $2,887,812 |
A Gift From Ben Inc Williamsburg, VA | $40,903 | $2,555,579 |
Grow Ohio Valley Inc Wheeling, WV | $924,666 | $2,218,308 |
Carversville Farm Foundation Mechanicsville, PA | $2,108,412 | $2,035,520 |
It Takes A Village To Feed One Child Inc Ridley Park, PA | $688,399 | $1,787,069 |