Freshfarm Markets Inc

Analysis

Freshfarm Markets Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 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, Freshfarm Markets Inc reported income of $10.3m and spending of $10.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $10.3m (+231%), an average of +35% a year. The sharpest change came in the year to December 2020, when income rose by 76%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freshfarm Markets Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 87th percentile within DC. Charities of a similar size with the same main cause include Boca Helping Hands Inc ($10.3m), New Beginnings Inc ($10.3m) and United Food Bank and Services of Plant City Inc ($10.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $135k (1.3% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $3.2m against liabilities of $770k, net assets of $2.4m. It reported 185 employees.