Capitol Market Inc

Analysis

Capitol Market Inc is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in October 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Capitol Market Inc reported income of $1.1m and spending of $910k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $618k to $1.1m (+70%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 43%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Capitol Market Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within WV. Charities of a similar size with the same main cause include Idaho Education News ($1.1m), Organization for Economic Intiatives Inc ($1.1m) and Next Level Community Development Center Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $80k (8.8% of expenses). Other salaries and wages came to $105k. At year end it held assets of $2.9m against liabilities of $227k, net assets of $2.7m. It reported 5 employees.