Fulton Market District Improvement Association

Nonprofit profile at a glance

EIN
921414981
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Chicago, IL, USA
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$456,851
Expenses
$422,032
Assets
$151,972
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Donald Madia (President and Director)

People named in this filing

  • Daniel Dorfman (Secretary and Director)
  • Donald Madia (President and Director)
  • Erin Belknap (VP and Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fulton market district improvement association (fmdia) was formed by representatives of local businesses in the fulton market district neighborhood of chicago, Illinois. Its purpose is to serve the common interest of businesses located in the area. Fmdia's planned activities include maintaining the cleanliness in fulton market, arranging for additional security in the neighborhood, marketing and promoting the fulton market neighborhood and creating local signage.

What it reported doing in 2024

Maintaining Fulton Market District's cleanliness and arranging for security.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.6%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 104.4% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 25.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $422K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 56/100.