Worcester Public Market Inc

Analysis

Worcester Public Market Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 2017, 9 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, Worcester Public Market Inc reported income of $919k and spending of $780k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $919k (-36%), an average of -11% a year. The sharpest change came in the year to December 2022, when income rose by 98%. Over the whole period it spent 61% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Worcester Public Market Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include Humane Society of Odessa ($917k), Hardee County Economic Development Council Inc ($920k) and Erie Downtown Partnership ($917k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% of the total. Other salaries and wages came to $264k. At year end it held assets of $5.3m against liabilities of $2.9m, net assets of $2.4m. It reported 26 employees.