Madison Public Market Foundation Inc

Nonprofit profile at a glance

EIN
822666213
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Madison, WI, USA
Phone
6084218209
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$683,246
Expenses
$245,608
Assets
$3,106,530
Liabilities
$86,728

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

Leadership & pay

17 people listed

Executive titles in this filing

  • KAREN CROSSLEY (PRESIDENT)
  • NICHOLE CRUST (VICE PRESIDENT)
  • KEISHA HARRISON (CEO)

Highest reported compensation

  • KEISHA HARRISON (CEO): $70,396 total reported compensation

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

Overview

Mission

Our vision is to create a vibrant, year-round public marketplace where new entrepreneurs and long-established madison favorites will grow their businesses and find success. The market emphasizes equity through entrepreneurship. The public market will be a place in madison where businesses owned and operated by women, people of color and first generation immigrants can get their start. Marketready hall will house a food innovation business center that will support the growth of small businesses that wish to create food related products. Entrepreneurs will be offered shared, affordable access to commercial food production equipment and infrastructure that are often beyond the reach of typical low-capital start-ups.

What it reported doing in 2024

Promotion of the market and garnering community support through hosting preliminary events open to the public, featuring potential market vendors engaged in producing unique culinary and artisan experiences. Organization is in the start up phase and is conducting a capital campaign. Programs are set to begin in 2025.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

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: 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: 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 64.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 12.65; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 28.7%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -85.7% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 35.2% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 47.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $70K · 17 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.