World Market Place Inc
- Assets
- $251.1k
- Revenue
- $285.7k
- Investments
- $0.0
- Employees
- 14
- Location
- Asheville, NC
- Founding
- 04/1993
- Data as of
- 12/2023
- EIN
- 56-1798187
Organization Overview
World Market Place Inc, operating under the name Ten Thousand Villages, is located in Asheville, NC. The organization was established in 1993. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2023, Ten Thousand Villages employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ten Thousand Villages 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 12/2023, Ten Thousand Villages generated $285.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $343.5k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF CRAFTS STORE IN ASHEVILLE, NC DISTRIBUTING PRODUCTS FROM UNDER-DEVELOPED COUNTRIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE ORGANIZATION PURCHASED ALMOST 270,000 OF INVENTORY FROM ARTISANS IN DEVELOPING COUNTRIES WHO ARE PAID A FAIR LIVING WAGE FOR THEIR PRODUCTS. TEN THOUSAND VILLAGES IN ASHEVILLE, NC IS A FAIR TRADE RETAILER OF ARTISAN- CRAFTED HOME DECOR, PERSONAL ACCESSORIES AND GIFT ITEMS FROM ACROSS THE GLOBE. FEATURING PRODUCTS FROM MORE THAN 130 ARTISAN GROUPS IN SOME 30 COUNTRIES, TEN THOUSAND VILLAGES IS PART OF A NETWORK OF OVER 60 RETAIL OUTLETS THROUGHOUT THE UNITED STATES. TOGETHER, THE ORGANIZATION HELPS BREAK THE CYCLE OF POVERTY AND IMPACT THE LIVES OF 20,000 MAKERS IN 30 DEVELOPING COUNTRIES. A FOUNDING MEMBER OF THE WORLD FAIR TRADE ORGANIZATION (WFTO), TEN THOUSAND VILLAGES HAS SPENT MORE THAN 70 YEARS CULTIVATING TRADING RELATIONSHIPS IN WHICH ARTISANS RECEIVE A FAIR PRICE FOR THEIR WORK AND CONSUMERS HAVE ACCESS TO DISTINCTIVE HANDCRAFTED ITEMS. THE ORGANIZATION SEEKS TO ESTABLISH LONG-TERM BUYING RELATIONSHIPS IN PLACES WHERE SKILLED ARTISANS ARE UNDER- OR UNEMPLOYED AND IN WHICH THEY LACK OTHER OPPORTUNITIES FOR INCOME. TEN THOUSAND VILLAGES IS A GLOBAL MAKER-TO-MARKET MOVEMENT. THE ORGANIZATION IS COMMITTED TO THE FOLLOWING ETHICAL PRACTICES: ENSURING MAKERS EARN A FAIR LIVING WAGE IN SAFE WORKING CONDITIONS, CARING FOR THE EARTH, INVESTING IN PARTNERSHIPS THAT EMPOWER COMMUNITIES, AND CELEBRATING CRAFT AND CULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Hughes Chair | OfficerTrustee | 2 | $0 |
Janie Wilson Co-Chair | OfficerTrustee | 2 | $0 |
Rob Campbell Treasurer | OfficerTrustee | 1.5 | $0 |
Tara Nyanga Secretary | OfficerTrustee | 1.5 | $0 |
Marella Buncick Board Member | Trustee | 1.5 | $0 |
Elizabeth Harvey Board Member | Trustee | 1.5 | $0 |
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 | $3,958 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,958 |
| Total Program Service Revenue | $0 |
| Investment income | $879 |
| 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 | $279,038 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $285,736 |
| 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 | $158,862 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,752 |
| Payroll taxes | $12,337 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,558 |
| Advertising and promotion | $14,349 |
| Office expenses | $24,638 |
| Information technology | $3,491 |
| Royalties | $0 |
| Occupancy | $99,668 |
| Travel | $173 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,693 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,131 |
| All other expenses | $0 |
| Total functional expenses | $343,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,294 |
| Savings and temporary cash investments | $110,807 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $73,297 |
| Prepaid expenses and deferred charges | $3,747 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $251,145 |
| Accounts payable and accrued expenses | $21,288 |
| Grants payable | $0 |
| Deferred revenue | $7,426 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $74,914 |
| Other liabilities | $0 |
| Total liabilities | $103,628 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $147,517 |
| Total liabilities and net assets/fund balances | $251,145 |