Heirloom Farmers Markets Inc

Nonprofit profile at a glance

EIN
463227755
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Tucson, AZ, USA
Phone
5209189811
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$701,429
Expenses
$607,349
Assets
$593,896
Liabilities
$96,871

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

Leadership & pay

9 people listed

Executive titles in this filing

  • BRIAN WARDE (PRESIDENT)

People named in this filing

  • PARAM DEDHIA (DIRECTOR)
  • SUSAN FULTON (DIRECTOR)
  • CHARLES A DAVIS JR (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 mission of the organization is to operate world-class farmers markets that contribute to the success of food growers in southern Arizona and create vibrant community gathering places. The organization is dedicated to promoting farm viability, sustainable land use and engaging our community in the local food economy. We're helping to build a community food system that honors producers, teaches consumers about good food and enhances the quality of life in southern Arizona.

What it reported doing in 2024

Serves a customer base of more than 1,500 per week and provides more than 100 small businesses at three markets in southern Arizona. The markets provide fertile ground for small local farms and food businesses to grow, opportunities for shoppers to meet food producers and vibrant space with education and entertainment for people in their communities to gather.

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.1%; rating input score 70
  • Program expense ratio: 80.9%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: 13.4%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.98; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 14.1% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 30.8% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 70.1% of revenue deployed · 80.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $491K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2014 to 2024
  • 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: 4 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.