Baltimore Food Hub Inc

What it reported doing in 2024

The baltimore pumphouse is a multi-phased, $27m initiative to establish a small business town center in the heart of a severely distressed community that was once an epicenter of business and retail. The baltimore pumphouse has expanded to eight buildings (six of which are historic) (the "project") located at the corner of n. Wolfe and n. Gay streets, in baltimore's broadway east community (the "property").the project sponsor, american communities trust ("act"), is a non-profit community development partner specializing in creating inclusive economic development projects that bring growth and prosperity to low income residents. The five buildings that constitute the baltimore pumphouse were built 125 years ago as the water pumping station for east baltimore.vacant since the 1990's, the condition of the buildings was so derelict that they became the perfect filming location for the wire. Key objectives of the project include: eliminating four acres of blight from a severely distressed community, supporting minority and locally owned small businesses; local job creation; increasing opportunities for commerce and the circulation of the dollar within the community; relieving pressure on and utilization of social services; increasing direct access to healthy food; and restoring historical treasures.this multi-phase strategy is currently in its final phase for completion.the work done to date includes: construction completed in august 2017: environmental remediation, site work and repair of essential infrastructure, while building new 8,000 sf commercial production and teaching kitchens (building 7-new construction).construction completed in october 2019: rehabilitated the historic storehouse (building 3). Today, the 9,890 sf storehouse serves creative, housing a photography and motion studio and office space for environmental nonprofit.construction completed in november 2022: rehabilitated 6,830 sf historic stables (buildings 5 and 6) and constructing a new connector between buildings 5 and 6 to form one single building. The historic stables will be leased for nonprofit office/ flex space.construction completed in july 2025: rehabilitated 10,000 sf of the historic garage (building 1). The historic garage will be leased for nonprofit office/ flex space.the kitchens building at 1731 llewelyn (building 7- new construction) is fully leased 5 small business users, and one nonprofit tenant.acquiring a 10,000 sf warehouse adjacent to the campus that was going to become vacant in january 2024. The warehouse is home to a nonprofit user as a field house for gardening materials and has a prelease to a gym that focuses on mental and physical health.

Financial Efficiency

• Mission deployment rate: 0%; rating input score 0
• Program expense ratio: 0%; rating input score 0
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 85.7%; rating input score 86; 26th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 78.3%; rating input score 96; 96th percentile among comparable filings
• Total-asset coverage ratio: 940.77; rating input score 99; 99th percentile among comparable filings
• Liabilities to assets ratio: 0.25; rating input score 14; 14th percentile among comparable filings
• Officer compensation ratio: 436.3%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: -22.8% per year; rating input score 0; 15th percentile among comparable filings
• Revenue growth: -48% per year; rating input score 0; 9th percentile among comparable filings
• Asset growth: 0.5% per year; rating input score 100; 43rd percentile among comparable filings