Reading Terminal Market Corporation
- Assets
- $9.1m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 57
- Location
- Philadelphia, PA
- Founding
- 10/1994
- Data as of
- 06/2021
- 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 06/2021, Reading Terminal Market Corporation employed 57 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 06/2021, Reading Terminal Market Corporation generated $5.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $4.5m during the year ending 06/2021. 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
2021
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 |
Dawn Summerville Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
G4s Solutions Security | 6/29/21 | $596,932 |
Elliott-lewis Hvac Services | 6/29/21 | $155,951 |
Pa Convention Center Liability Insurance | 6/29/21 | $190,818 |
Presto Pest Control Maintenance Services | 6/29/21 | $129,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,641,996 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,641,996 |
| Total Program Service Revenue | $4,288,141 |
| Investment income | $9,380 |
| 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 | $5,939,517 |
| 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 | $965,718 |
| Pension plan accruals and contributions | $22,773 |
| Other employee benefits | $126,135 |
| Payroll taxes | $70,615 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,788 |
| Fees for services: Accounting | $59,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,715 |
| Advertising and promotion | $186,902 |
| Office expenses | $103,398 |
| Information technology | $20,189 |
| Royalties | $0 |
| Occupancy | $1,692,665 |
| Travel | $1,188 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $95,840 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $582,824 |
| Insurance | $234,233 |
| All other expenses | $23,176 |
| Total functional expenses | $4,546,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,496,042 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $622,149 |
| 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 | $192,685 |
| Net Land, buildings, and equipment | $3,749,762 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,060,638 |
| Accounts payable and accrued expenses | $538,715 |
| 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 | $3,116,673 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $404,388 |
| Total liabilities | $4,059,776 |
| Net assets without donor restrictions | $3,494,310 |
| Net assets with donor restrictions | $1,506,552 |
| 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 | $9,060,638 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Reading Terminal Market Corporation has recieved totaling $1,000,200.
| Awarding Organization | Amount |
|---|---|
William Penn Foundation Philadelphia, PA PURPOSE: READING TERMINAL MARKET RECOVERY GRANT | $1,000,000 |
William Penn Foundation Philadelphia, PA PURPOSE: GENERAL SUPPORT | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
American Friends Of Leket Israel Inc Teaneck, NJ | $3,165,709 | $12,922,662 |
Pittsburgh Promise Foundation Pittsburgh, PA | $59,585,111 | $15,082,951 |
Pennsylvania Ems Provider Foundation Harrisburg, PA | $55,116 | $0 |
Student Leadership Network Inc New York, NY | $11,626,545 | $12,224,104 |