Eastern Market Corporatioin

Analysis

Eastern Market Corporatioin is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Eastern Market Corporatioin reported income of $8.1m and spending of $5.5m, leaving 32% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income fell from $9.7m to $8.1m (-16%), an average of -3.5% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Eastern Market Corporatioin sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include The Disability Fund Inc ($8.1m), Phoenix Suns Charities Inc ($8.1m) and Hannas House ($8.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $434k (7.8% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $14.4m against liabilities of $1.1m, net assets of $13.2m. It reported 57 employees.