Santa Fe Farmers Market Institute

Nonprofit profile at a glance

EIN: 300124953
IRS 990 coverage: 2011–2025
Forms available: Form 990 2025
Location: Santa Fe, NM, USA
Phone: 5059837726
Rating: 73
Verdict: SUPPORTED
Rating confidence: Moderate
Sector: Agricultural Programs

Official website

Reported finances

Revenue: $921,415
Expenses: $1,192,929
Assets: $3,902,647
Liabilities: $1,422,325

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

Leadership & pay

16 people listed

Highest reported compensation

ADAN MANNY ENCINIAS (FORMER EXECU): $110,459 total reported compensation
MAUREEN VOSBURGH (EXECUTIVE DI): $73,570 total reported compensation

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

Overview

Mission

To advocate for farmers, ranchers and other land-based producers; provide equitable access to fresh, local food; own and operate a year-round venue for the santa fe farmers' market; and manage programs to help sustain a profitable, locally-based agricultural community.

What it reported doing in 2025

Market venue and facility operations: the institute owns and operates the santa fe farmers' market pavilion in the santa fe railyard that the institute constructed in 2008 on land leased long-term from the city of santa fe. The pavilion was built for the specific purpose of giving northern New Mexico's agricultural producers a permanent, weather- protected, year-round venue for direct-to-consumer sales. The institute makes suite a, the market hall, and the mid-space shop area available to the santa fe farmers' market at rates substantially below fair market value, enabling the market to operate year-round and to host up to 130 vendors from 15 northern New Mexico counties who sell only agricultural products they have grown or produced themselves. Beyond providing the space, the institute maintains and improves the facility, staffs the information booth on each market day, provides volunteer docents to assist vendors and customers, and collaborates with market staff and board on marketing and long-range planning.

Operating model

Revenue model: Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

Financial Efficiency: 67
Transparency & Controls: 70
Accountability: 100
Sustainability: 29
Growth: 80

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 82.3%; rating input score 82
Program expense ratio: 63.4%; rating input score 63
Fundraising efficiency: $2.2 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
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; 64th percentile among comparable filings
Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Sustainability

Operating margin: -29.5%; rating input score 4; 4th percentile among comparable filings
Total-asset coverage ratio: 3.27; rating input score 77; 77th percentile among comparable filings
Liabilities to assets ratio: 0.36; rating input score 17; 17th percentile among comparable filings
Officer compensation ratio: 15.4%; rating input score 24; 24th percentile among comparable filings

Growth

Program expense growth: 0.9% per year; rating input score 100; 18th percentile among comparable filings
Revenue growth: 2.2% per year; rating input score 100; 21st percentile among comparable filings
Asset growth: -0.8% per year; rating input score 0; 13th percentile among comparable filings

Details

Where the money goes: 82.3% of revenue deployed · 63.4% of spending went to programs
Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
Programs: 3 filed program accomplishments · $756K in reported program spending
Leadership: top reported pay $110K · 16 people listed · 1 of 6 pay-setting controls reported
Consistency: 33 of 33 current checks pass
Schedules: 6 filed schedules · includes major donors and executive pay
Filing history: 13 filing years from 2011 to 2025
Contacts: How to reach this organization
Money network: 2 filed money-flow records
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: Fundraising efficiency scored 6/100.
High — Sustainability: Operating margin scored 4/100.
High — Growth: Asset growth scored 0/100.
High — Sustainability: Liabilities to assets ratio scored 17/100.
High — Sustainability: Officer compensation ratio scored 24/100.