Richmond Night Market Foundation

Nonprofit profile at a glance

EIN
922232530
IRS 990-EZ coverage
2024–2025
Forms available
Form 990 2023, Form 990-EZ 2025, Form 990-N 2025
Location
North Chesterfield, VA, USA
Phone
2125184776
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Official website

Reported finances

Revenue
$104,000
Expenses
$92,200
Assets
$31,306
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Melody Joy Short (President)

People named in this filing

  • Melody Joy Short (President)
  • Adrienne Cole Johnson (Treasurer)
  • Tiffany Cole (Secretary)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To strengthen Richmond's local creative economy by providing a platform for independent artists, entrepreneurs, and small business owners to connect with regional audiences through curated community market events, live arts programming, and youth engagement activities.

What it reported doing in 2025

In 2025, The Richmond Night Market Foundation hosted its Open Air Market every 2nd Saturday from 5pm-9pm (April-December) at the 17th Street Market in Richmond, VA. Named one of the Top 10 Markets in the U.S. by USA Today, the market features four distinct experience areas - the Artisan Village for independent vendors and small business owners, the Main Stage with live music and DJ performances, the MakerSpace with live art activations, and the Creative Kids Hangout offering guided and non-guided arts activities for youth in partnership with ART 180. Through curated events, artist compensation, and technical assistance, the program uplifts independent artists and entrepreneurs, connects them to multicultural and multigenerational regional audiences, and strengthens Richmond's local creative economy. Total program service expenses for 2025 were $78,370.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 82
  • Sustainability: 52
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.4%; rating input score 75
  • Program expense ratio: 85%; rating input score 85

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 11.3%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: -13.3% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -7.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 74.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 75.4% of revenue deployed · 85% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $78K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Sustainability: Operating margin scored 58/100.