Frankenmuth Farmers Market

Analysis

Frankenmuth Farmers Market is a registered charity in United States, based in Frankenmuth, MI. It received its IRS tax-exemption ruling in August 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Frankenmuth Farmers Market reported income of $145k and spending of $237k, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $155k to $145k (-6.4%), an average of -1.6% a year. The sharpest change came in the year to December 2021, when income rose by 72%. Over the whole period it spent 154% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Frankenmuth Farmers Market sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within MI. Charities of a similar size with the same main cause include Love of People Clinic Lopc Inc ($145k), Serve Outdoors Texas Hill Country Chapter ($145k) and Dumas Education & Social Ministries Inc ($145k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $18k (7.4% of expenses). Other salaries and wages came to $2,527. At year end it held assets of $2.1m against liabilities of $1.4m, net assets of $644k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.