Reading Terminal Market Corporation
- Assets
- $10.6m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 37
- Location
- Philadelphia, PA
- Founding
- 10/1994
- Data as of
- 06/2022
- EIN
- 23-2754641
Organization Overview
Reading Terminal Market Corporation is located in Philadelphia, PA. The organization was established in 1994. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Reading Terminal Market Corporation employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reading Terminal Market Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Reading Terminal Market Corporation generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $5.2m during the year ending 06/2022. While expenses have increased by 1.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS CREATED EXCLUSIVELY TO PRESERVE AND MAINTAIN THE HISTORIC CHARACTER AND OVERSEE THE OPERATIONS OF THE READING TERMINAL MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS CREATED EXCLUSIVELY TO PRESERVE AND MAINTAIN THE HISTORIC CHARACTER AND OVERSEE THE OPERATIONS OF THE READING TERMINAL MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert M Mezzaroba Chairman | OfficerTrustee | 1 | $0 |
Brent A Cossrow Vice Chairman | OfficerTrustee | 1 | $0 |
Eugene Lefevre Treasurer | OfficerTrustee | 1 | $0 |
Anne Kelly Director | Trustee | 1 | $0 |
John J Mcnichol Director | Trustee | 1 | $0 |
Mark Squilla Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
G4s Solutions Security | 6/29/22 | $337,609 |
Elliott-lewis Plumbing Services | 6/29/22 | $230,873 |
Allied Universal Security Services | 6/29/22 | $145,797 |
Parkway Corp Parking Services | 6/29/22 | $122,005 |
Athena Contracting Trash Collection | 6/29/22 | $110,764 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,805 |
| Related organizations | $0 |
| Government grants | $463,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,886 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $696,589 |
| Total Program Service Revenue | $4,585,507 |
| Investment income | $377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,282,473 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,010,160 |
| Pension plan accruals and contributions | $16,107 |
| Other employee benefits | $116,660 |
| Payroll taxes | $85,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,314 |
| Fees for services: Accounting | $57,013 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,900 |
| Advertising and promotion | $413,871 |
| Office expenses | $49,528 |
| Information technology | $24,695 |
| Royalties | $0 |
| Occupancy | $2,192,481 |
| Travel | $5,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $113,505 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $590,621 |
| Insurance | $252,033 |
| All other expenses | $2,026 |
| Total functional expenses | $5,195,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,432,008 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $288,622 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $187,448 |
| Net Land, buildings, and equipment | $3,644,534 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,552,612 |
| Accounts payable and accrued expenses | $565,185 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,423,840 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $475,285 |
| Total liabilities | $5,464,310 |
| Net assets without donor restrictions | $4,469,250 |
| Net assets with donor restrictions | $619,052 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,552,612 |