Civic Intelligence

Eastern Market Corporation

EIN 32-0030432 • 501(c)3 • Detroit, MI

Profile

Eastern market corporation ("emc") is a michigan non-profit corporation organized to combat community deterioration and to lessen the burdens of government in managing its public market that has served detroit since 1891. Emc operates the market under an agreement with the city of detroit, which still owns the facility. Emc has developed a capital improvement plan and is implementing a series of capital improvements to improve the market's ability to serve as a food center for detroit and as a catalyst for economic development. The stakeholders' vision for the eastern market ("em") district is to leverage the attraction and legacy of the em, to build a dynamic, diverse, and unique urban district, and to strengthen the identity of the em as a food-related district by enhancing the operations of the existing public market and by developing business opportunities for specialty food retailers, food wholesale operations, restaurants, food distributors, and food processors.

2934 RussellDetroit, MI 48207-4826

www.easternmarket.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

28th percentile

0.08x

Higher debt load relative to revenue than 28% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

56th percentile

6.7%

Higher net margin than 56% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

54th percentile

$198,160

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

36th percentile

0.4%

Faster asset growth than 36% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-17%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$14,432,831

Up $55,173 (+0.4%) from 2023

Liabilities

Down

$568,276

Down $579,449 (-50%) from 2023

Net Assets

Up

$13,864,555

Up $634,622 (+4.8%) from 2023

Revenue

Down

$6,796,753

Down $1,345,364 (-17%) from 2023

Expenses

Up

$6,341,600

Up $796,269 (+14%) from 2023

Net Income

Down

$455,153

Down $2,141,633 (-82%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2015: $11,535,536Liabilities 2015: $2,182,532Net Assets 2015: $9,353,0042015Assets 2016: $11,126,711Liabilities 2016: $1,086,980Net Assets 2016: $10,039,7312016Assets 2017: $10,503,492Liabilities 2017: $687,380Net Assets 2017: $9,816,1122017Assets 2018: $9,606,364Liabilities 2018: $1,016,070Net Assets 2018: $8,590,2942018Assets 2019: $11,948,347Liabilities 2019: $728,648Net Assets 2019: $11,219,6992019Assets 2020: $13,522,982Liabilities 2020: $1,034,749Net Assets 2020: $12,488,2332020Assets 2021: $12,535,453Liabilities 2021: $741,866Net Assets 2021: $11,793,5872021Assets 2022: $10,937,880Liabilities 2022: $304,733Net Assets 2022: $10,633,1472022Assets 2023: $14,377,658Liabilities 2023: $1,147,725Net Assets 2023: $13,229,9332023Assets 2024: $14,432,831Liabilities 2024: $568,276Net Assets 2024: $13,864,5552024

Highlighted filing

2024

Assets$14,432,831
Liabilities$568,276
Net Assets$13,864,555

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2015: $5,927,757Expenses 2015: $4,694,583Net Income 2015: $1,233,1742015Revenue 2016: $6,220,237Expenses 2016: $5,533,510Net Income 2016: $686,7272016Revenue 2017: $6,378,947Expenses 2017: $5,687,857Net Income 2017: $691,0902017Revenue 2018: $4,835,515Expenses 2018: $6,061,333Net Income 2018: -$1,225,8182018Revenue 2019: $9,720,478Expenses 2019: $7,091,073Net Income 2019: $2,629,4052019Revenue 2020: $5,232,289Expenses 2020: $5,170,015Net Income 2020: $62,2742020Revenue 2021: $5,663,087Expenses 2021: $6,049,081Net Income 2021: -$385,9942021Revenue 2022: $4,869,009Expenses 2022: $6,029,449Net Income 2022: -$1,160,4402022Revenue 2023: $8,142,117Expenses 2023: $5,545,331Net Income 2023: $2,596,7862023Revenue 2024: $6,796,753Expenses 2024: $6,341,600Net Income 2024: $455,1532024

Highlighted filing

2024

Revenue$6,796,753
Expenses$6,341,600
Net Income$455,153

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$7,033,418
Mission and Program Overview

Mission

Eastern market corporation ("emc") is a michigan non-profit corporation organized to combat community deterioration and to lessen the burdens of government in managing its public market that has served detroit since 1891. Emc operates the market under an agreement with the city of detroit, which owns the facility. Emc has developed a capital improvement plan and is implementing a series of capital improvements to improve the market's ability to serve as a food center for detroit and as a catalyst for economic development. The stakeholders' vision for the eastern market district (the "market") is to leverage the attraction and legacy of the market, to build a dynamic, diverse, and unique urban district, and to strengthen the identity of the market as a food-related district by enhancing the operations of the existing public market and by developing business opportunities for specialty food retailers, food wholesale operations, restaurants, food distributors, and food processors.

The mission of eastern market corporation ("eastern market") is to leverage its dynamic history, manage operations, develop programs, build facilities, and provide critical infrastructure to strengthen the eastern market district, improve access to healthy, green, affordable, and fair food choices in detroit and throughout southeast michigan, and fortify the food sector as a pillar of regional economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,689,460$7,259,314▼ $430,146
Pledges and Grants Receivable$2,562,658$2,811,581▲ $248,923
Prepaid Expenses and Deferred Charges$1,643,804$1,549,004▼ $94,800
Savings and Temporary Cash Investments$0$1,214,745▲ $1,214,745
Cash and Non-Interest-Bearing Accounts$2,190,544$1,113,122▼ $1,077,422
Accounts Receivable$61,487$313,871▲ $252,384
Other Notes and Loans Receivable, Net$106,405$141,079▲ $34,674
Total Assets$14,377,658$14,432,831▲ $55,173
Other Assets Total$123,300$30,115▼ $93,185
Liabilities
Mortgage Notes Payable Secured by Investment Property$691,388$0▼ $691,388
Accounts Payable and Accrued Expenses$362,960$452,172▲ $89,212
Deferred Revenue$54,046$85,665▲ $31,619
Other Liabilities$45,309$30,439▼ $14,870
Total Liabilities$1,153,703$568,276▼ $585,427
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,761,283$9,011,063▲ $249,780
Net Assets With Donor Restrictions$4,462,672$4,853,492▲ $390,820
Total Net Assets Fund Balance$13,223,955$13,864,555▲ $640,600
Total Liabilities and Net Assets / Fund Balance$14,377,658$14,432,831▲ $55,173

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,357,314$8,457,535$14,814,849
Buildings$731,833$175,691$907,524
Equipment$31,654$778,664$810,318
Land$138,513-$138,513
Other Land Buildings$0$86,149$86,149
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel CarmodyCEO (term 12/2024)FT$187,090$11,070$198,160
Katharine TrudeauPresidentPT$168,952-$168,952
Brandon SengDirector of ProgramsFT$128,979-$128,979
Percola BrooksDirector of Accounting (term 11/2024)FT$109,734$250$109,984
James SutherlandDirector of FacilitiesFT$105,420$990$106,410

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
In The Business Of FoodFood Education And Training2200 HUNT STREET STE 434, Detroit, MI 48207$182,850
Quatrro Business Support ServicesAccounting Support1850 PARKWAY PLACE STE 100, Marietta, GA 30067$178,628
Redot Waste ServicesWaste Disposal111 GRISWOLD STREET, Detroit, MI 48207$145,304
Revenue and Support

Revenue Composition

Contributions and Grants
$5,142,282
Program Service Revenue
$1,534,718
Investment Income
$137,814
Other Revenue
$-18,061
All Other Contributions
$3,104,651
Change in Net Assets
$455,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,183,886
Salaries, Compensation, and Employee Benefits$2,718,461
Total Fundraising Expense$498,178
Grants and Similar Amounts Paid$439,253
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,211,026$359,525$310,927$1,881,478
Depreciation Depletion$538,126$59,792-$597,918
Occupancy$469,901$52,132-$522,033
Grants to Domestic Orgs$439,253--$439,253
Current Officers, Directors, Trustees, and Key Employees$227,868$67,648$60,527$356,043
Other Employee Benefits$165,540$49,145$43,972$258,657
Fees for Services Other$149,902$69,185$11,531$230,618
Fees for Services Accounting$44,657$125,040$8,931$178,628
Payroll Taxes$113,852$33,800$30,242$177,894
Advertising$34,615$134,608-$169,223
Information Technology$69,931$75,575$16,167$161,673
Office Expenses$59,186$73,982-$133,168
Insurance$88,843$9,871-$98,714
Fees for Services Legal$23,504$65,812$4,701$94,017
Fees for Services Management$35,226$16,258$2,710$54,194
Pension Plan Contributions$28,409$8,434$7,546$44,389
Other Expenses$20,249$24,510-$20,249
Travel$4,740$14,219-$18,959
Conferences and Meetings$2,759$8,277-$11,036
All Other Expenses$6,814$852$852$8,518
Interest$287$359$72$718
Total Functional Expenses$4,550,976$1,292,446$498,178$6,341,600
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
1xrun LLCDetroit, MIN/aSee Part Iv$203,000
48207-11 Grassroot DetroitersDetroit, MIN/aSee Part Iv$85,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$128,416
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$108,850-$123,355-
Total Events$108,850-$128,416$-128,416
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilities$30,439
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Within the 21-member board of directors, there is a nominations committee consisting of three board members. Of the 21 members, seven are appointed by the city's mayor or city council.

Form 990, Part VI, Section A, Line 7B

Any contract or agreement in excess of $25,000 for the expenditure of funds that are generated by the operation of the market, or that are provided to eastern market by the city of detroit, must be approved by the detroit city council. Eastern market submits an annual operating budget for market operation and capital improvements which must be approved by a representative of the city of detroit. Eastern market must obtain the city of detroit's approval to borrow funds.

Form 990, Part VI, Section B, Line 11B

Once eastern market's external cpa firm has completed a draft of form 990 based on information provided by eastern market's management, a review is performed by eastern market's internal accountants. When deemed "final", the return is provided to eastern market's finance committee and board members prior to filing.

Form 990, Part VI, Section B, Line 12C

A staff member (the office manager) ensures that all board members have submitted a signed conflict of interest statement. In the event that a potential conflict is disclosed, the issue will be discussed and investigated. If a conflict is identified, it must be unanimously approved by the board of directors in order to proceed with that vendor.

Form 990, Part VI, Section B, Line 15

For the president and the chief executive officer, the executive committee is authorized by the board to research and determine adjustments to the president's and the chief executive officer's compensation and to lead the annual performace review effort. For other employees, adjustments are made at the discretion of the president and are based, in part, on recruitment and compensation input from an independent consultant.

Form 990, Part VI, Section C, Line 19

Eastern market makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

FORM 990, PART VI, LINE 1A:

The executive committee has authority to act on behalf of the governing body if a specific action is delegated.

Filing and Contact Details

Filer

Filer Name
Eastern Market Corporation
EIN
32-0030432
Phone
3138339300
Address
2934 RUSSELL, DETROIT, MI 48207-4826
Doing Business As
Eastern Market Partnership

Signing Officer

Name
Katharine Trudeau
Title
President
Phone
3138339300
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katharine Trudeau
Formed
2006
Legal Domicile
Mi
Voting Board Members
21
Independent Board Members
21
Employees
67
Volunteers
40

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
790 N WATER ST SUITE 2000, MILWAUKEE, WI 53202
Preparer
Shelby Netz
Phone
4147775500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Eastern market corporation has been classified by the internal revenue service (irs) as an organization exempt from federal income tax under section 501(c)(3) of the internal revenue code (irc). Additionally, eastern market has been classified by the irs as an organization that is not a private foundation. Eastern market's management is not aware of any uncertain tax positions or unrecognized tax benefits as of december 31, 2024.

Raw XML AppendixShowing 400 of 812 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE MISSION OF EASTERN MARKET CORPORATION ("EASTERN MARKET") IS TO LEVERAGE ITS DYNAMIC HISTORY, MANAGE OPERATIONS, DEVELOP PROGRAMS, BUILD FACILITIES, AND PROVIDE CRITICAL INFRASTRUCTURE TO STRENGTHEN THE EASTERN MARKET DISTRICT, IMPROVE ACCESS TO HEALTHY, GREEN, AFFORDABLE, AND FAIR FOOD CHOICES IN DETROIT AND THROUGHOUT SOUTHEAST MICHIGAN, AND FORTIFY THE FOOD SECTOR AS A PILLAR OF REGIONAL ECONOMIC GROWTH.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2111070
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt24250
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt25990
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IRS990/Form990PartVIISectionAGrp/PersonNm1DONALD RENCHER
IRS990/Form990PartVIISectionAGrp/PersonNm2DREW PATRICK
IRS990/Form990PartVIISectionAGrp/PersonNm3VINCENT SANNA
IRS990/Form990PartVIISectionAGrp/PersonNm4ARMOND HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm5BJ BELCOURE
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN ELLISON
IRS990/Form990PartVIISectionAGrp/PersonNm7BRITTANY HOSKWIC
IRS990/Form990PartVIISectionAGrp/PersonNm8CARLOS PARISI
IRS990/Form990PartVIISectionAGrp/PersonNm9CHRISTOS MOSIDES
IRS990/Form990PartVIISectionAGrp/PersonNm10CRYSTAL PERKINS
IRS990/Form990PartVIISectionAGrp/PersonNm11DARA O'BRYNE
IRS990/Form990PartVIISectionAGrp/PersonNm12FRANK GERMACK
IRS990/Form990PartVIISectionAGrp/PersonNm13FRED DURHAL
IRS990/Form990PartVIISectionAGrp/PersonNm14JAY BONAHOOM
IRS990/Form990PartVIISectionAGrp/PersonNm15JOE SPENCER
IRS990/Form990PartVIISectionAGrp/PersonNm16JONATHAN KUNG
IRS990/Form990PartVIISectionAGrp/PersonNm17LATISHA JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm18RON BRUNDIDGE
IRS990/Form990PartVIISectionAGrp/PersonNm19TOSHA TABRON
IRS990/Form990PartVIISectionAGrp/PersonNm20VIOLET GINTSIS
IRS990/Form990PartVIISectionAGrp/PersonNm21DANIEL CARMODY
IRS990/Form990PartVIISectionAGrp/PersonNm22KATHARINE TRUDEAU
IRS990/Form990PartVIISectionAGrp/PersonNm23BRANDON SENG
IRS990/Form990PartVIISectionAGrp/PersonNm24PERCOLA BROOKS
IRS990/Form990PartVIISectionAGrp/PersonNm25JAMES SUTHERLAND
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21CEO (TERM 12/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt22PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR OF PROGRAMS
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIR. OF ACCOUNTING (TERM 11/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR OF FACILITIES
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IRS990/MissionDesc0EASTERN MARKET IS ORGANIZED TO COMBAT COMMUNITY DETERIORATION AND TO LESSEN THE BURDENS OF GOVERNMENT IN MANAGING ITS PUBLIC MARKET THAT HAS SERVED DETROIT SINCE 1891. EASTERN MARKET OPERATES THE MARKET UNDER AN AGREEMENT WITH THE CITY OF DETROIT, WHICH OWNS THE FACILITY. EASTERN MARKET HAS DEVELOPED A CAPITAL IMPROVEMENT PLAN AND IS IMPLEMENTING A SERIES OF CAPITAL IMPROVEMENTS TO IMPROVE THE MARKET'S ABILITY TO SERVE AS A FOOD CENTER FOR DETROIT AND AS A CATALYST FOR ECONOMIC DEVELOPMENT. THE STAKEHOLDERS' VISION FOR THE EASTERN MARKET DISTRICT (THE "MARKET") IS TO LEVERAGE THE ATTRACTION AND LEGACY OF THE MARKET, TO BUILD A DYNAMIC, DIVERSE, AND UNIQUE URBAN DISTRICT, AND TO STRENGTHEN THE IDENTITY OF THE MARKET AS A FOOD-RELATED DISTRICT BY ENHANCING THE OPERATIONS OF THE EXISTING PUBLIC MARKET AND BY DEVELOPING BUSINESS OPPORTUNITIES FOR SPECIALTY FOOD RETAILERS, FOOD WHOLESALE OPERATIONS, RESTAURANTS, FOOD DISTRIBUTORS, AND FOOD PROCESSORS.
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