Civic Intelligence

Fulton Market Association Inc Co Stephen C Dima

EIN 81-2871972 • 501(c)3 • Brooklyn, NY

Profile

The Fulton Stall Market is a public-interest marketplace for local foods connecting local farmers and small-scale food producers to the growing Lower Manhattan community. We also seek to educate the local community and NYC as a whole on the history, use, and benefits of fresh, locally grown produce, the economic and environmental importance of farmers and regional agriculture, the history of the Seaport District as NYCs original public market district, and the role markets play in developing a sustainable local food system and food business development.

535 Carlton Ave 1801Brooklyn, NY 11238

www.fultonstallmarket.org

Siviq Scores

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

Liabilities / Assets

80th percentile

0.29x

Higher debt load relative to assets than 80% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.10x

Higher debt load relative to revenue than 75% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Source year 2024

Net Margin

42nd percentile

2.1%

Higher net margin than 42% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Source year 2024

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE S30 • <$500k nonprofits • Source year 2024

Asset Growth

81st percentile

38%

Faster asset growth than 81% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

-25%

Faster revenue growth than 36% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$42,750

Up $14,286 (+50%) from 2022

Liabilities

Up

$12,210

Up $41 (+0.3%) from 2022

Net Assets

Up

$30,540

Up $14,245 (+87%) from 2022

Revenue

Down

$116,938

Down $26,223 (-18%) from 2022

Expenses

Down

$114,441

Down $47,372 (-29%) from 2022

Net Income

Up

$2,497

Up $21,149 (+113%) from 2022

Trend Graphs

Balance Sheet Trend

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

$80K$60K$40K$20K$0Assets 2019: $46,312Liabilities 2019: $20,847Net Assets 2019: $25,4652019Assets 2020: $70,813Liabilities 2020: $18,552Net Assets 2020: $52,2612020Assets 2021: $44,365Liabilities 2021: $9,418Net Assets 2021: $34,9472021Assets 2022: $28,464Liabilities 2022: $12,169Net Assets 2022: $16,2952022Assets 2024: $42,750Liabilities 2024: $12,210Net Assets 2024: $30,5402024

Highlighted filing

2024

Assets$42,750
Liabilities$12,210
Net Assets$30,540

Operations Trend

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

$200K$150K$100K$50K$0-$50KRevenue 2019: $134,610Expenses 2019: $128,490Net Income 2019: $6,1202019Revenue 2020: $163,339Expenses 2020: $136,543Net Income 2020: $26,7962020Revenue 2021: $153,518Expenses 2021: $170,832Net Income 2021: -$17,3142021Revenue 2022: $143,161Expenses 2022: $161,813Net Income 2022: -$18,6522022Revenue 2024: $116,938Expenses 2024: $114,441Net Income 2024: $2,4972024

Highlighted filing

2024

Revenue$116,938
Expenses$114,441
Net Income$2,497

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$411,663
Mission and Program Overview

Mission

Fulton Market Association operates the Fulton Stall Market as a farmers public market place for local farm and food products connecting family farmers and small-scale food producers in New York and adjacent states with Lower Manhattan residents and workers to enable local farmers and producers to sustain their farm and food enterprises through direct marketing and meet consumers need for high-quality fresh and affordable food.We seek to provide consumers with enhanced access to fresh, locally grown, high quality seasonal produce and locally processed small-batch food products in a multi-vendor public market that educates the community about local farmers and food producers, the diversity, high quality and nutritional value of local food products, and the economic and environmental importance of local agriculture and strengthening a regional food system. We also seek to highlight and sustain the Seaport Districts original function as NYCs original public food market district and the rol

Fulton Market Association operates the Fulton Stall Market as a farmers public market for local farm and food products connecting family farmers and small-scale food producers in New York and adjacent states with Lower Manhattan residents and workers to enable local farmers and producers to sustain their farm and food enterprises through direct marketing and meet consumers need for high-quality fresh and affordable food.We seek to provide consumers with enhanced access to fresh, locally grown, high quality seasonal produce and locally processed small-batch food products in a multi-vendor public market that also educates the community about local farmers and food producers, the diversity, quality and nutritional value of local food products, and the economic and environmental importance of local agriculture & strengthening our regional food system. We are committed to enhancing healthy affordable fresh food access for low-income nutritionally at-risk families living in the vicinity of t

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,986$17,720▼ $7,266
Cash and Non-Interest-Bearing Accounts$19,379$10,744▼ $8,635
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$44,365$28,464▼ $15,901
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$9,418$12,169▲ $2,751
Total Liabilities$9,418$12,169▲ $2,751
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$34,947$16,295▼ $18,652
Total Net Assets Fund Balance$34,947$16,295▼ $18,652
Total Liabilities and Net Assets / Fund Balance$44,365$28,464▼ $15,901

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,720$33,163$50,883
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stephen DimaPresident
Caylin SandersDirector
George EdwardsDirector
Robert A LewisDirector
Mary E LinskeySecretary
Sara WilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,995
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$99,166
All Other Contributions
$43,995
Change in Net Assets
$-18,652
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$96,565
Other Expenses$65,248
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$87,885-$87,885
All Other Expenses$7,879$3,800-$11,679
Payroll Taxes-$8,680-$8,680
Depreciation Depletion-$7,266-$7,266
Other Expenses$7,282$4,941-$4,941
Insurance$1,161--$1,161
Advertising$705--$705
Office Expenses$519--$519
Total Functional Expenses$43,674$118,139$0$161,813
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 is reviewed by the organization's board of director prior to the filing of the return.

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

The President of the board meets with each board member to discuss how a possible conflict could occur and works with them to determine whether there are any possible conflicts that need to be addressed.

Form 990, Part VI, Section C, Line 19

All policies/documents that are required to be provided to the public are available upon formal request.

Filing and Contact Details

Filer

Filer Name
Fulton Market Association Inc
EIN
81-2871972
Phone
9173010016
Address
535 Carlton Ave 1801, Brooklyn, NY 11238

Signing Officer

Name
Stephen Dima
Title
President
Signed
2023-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Dima
Formed
2016
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
13
Volunteers
6

Preparer

Firm
Zelin & Associates CPA LLC
Address
555 8th Ave Ste 2203, New York, NY 10018
Preparer
Steven Zelin CPA
Phone
6466784496
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Fulton Stall Market - Two Bridges Youth MarketEstablishes a outdoor farmers market at 50 Madison St. in the Two Bridges neighborhood of the Lower East Side and Chinatown as a satellite of the Fulton Stall Market to provide low-income residents with convenient access to fresh, organically grown, affordable produce while employing six local teenage youth from a youth development program.Two Bridges Youth Market was developed in collaboration with the long-established nonprofit social service agency Hamilton-Madison House and two of the Fulton Stall Markets farmers. In 2022 it operated weekly on Sundays July 17 to December xxx offering a wide variety of locally grown seasonal vegetables and apples from the farmers.By participating in the New York State WIC and Senior Farmers Market Nutrition Program and the USDA SNAP program, in addition to accepting cash and credit cards, the Youth Market was able to provide hundreds of local families, including participants in the Woman, Infants, Children (WIC) program and Seniors, many of whom reside in nearby public housing, with access to these nutritious foods on a weekly basis. In addition, by participating in the NYC Department of Healths Health Bucks Program, the market was able to issue a 100% bonus for SNAP participants use of EBT cards up to $10 per day, thereby greatly incentivizing shopping for fresh local produce.The Youth Market was advertised in the community with information in English, Spanish and Chinese. To provide education in the selection and use of locally grown seasonal fresh produce, including unfamiliar varieties, the market recruited a series of celebrity chefs as volunteers to conduct weekly food preparation demos, with free samples.Number of persons benefited: 100-300 consumers per week 8 youth market operators - 2 participating NY farmers

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IRS990/Desc0Indoor Farmers Market and CSA ProgramOperate a year-round indoor farmers market store stocked with healthy, affordable food and food products sold on consignment from local farmers and food producers directly to Lower Manhattan community members. After operating continuously throughout the 2020-21 COVID-19 pandemic, the indoor Fulton Stall Market continued to operate six days a week in 2022 providing the Lower Manhattan and Seaport community with access to a wide variety of fresh and processed local food products from 100+ local farmers and small-scale independent food producers from New York State and adjacent states. The market also continued to provide convenient access for local residents and workers to fresh, high-quality local foods through its weekly Community Supported Agriculture (CSA) subscription program, which began in 2017. The CSA provided the community with pre-ordered 12-week farm shares of local vegetables, fruits, eggs, cheese, meats, poultry, fish, bread, soup, and other staple foods from local farmers and producers. Both the indoor market and CSA program operations generated crucial income for the participating farmers and producers, helping them recover from economic losses during the pandemic by providing a higher economic return from direct sales. As Fulton Market Association is licensed by USDA as a registered farmers market with USDA, both the indoor market and CSA Farm Share program accepted SNAP EBT (Electronic Benefits Transfer) debit card payments from low-income participants in the USDA Supplemental Food Assistance Program (SNAP), enabling access fresh affordable local foods. We accepted donations of weekly CSA vegetable shares from generous community members for delivery to needy families in the nearby Gov. Alfred E. Smith Houses (NYC Housing Authority) with the help of the Alfred E. Smith Houses Residents Association.Number of persons benefited: 100+ local farmers and food producers; 100+ local families participating in the CSA farm share program; estimated 2,500 community residents, workers and visitors served by the indoor farmers market and CSA, 100+ low-income Alfred E. Smith Houses residents.
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IRS990/MissionDesc0Fulton Market Association operates the Fulton Stall Market as a farmers public market for local farm and food products connecting family farmers and small-scale food producers in New York and adjacent states with Lower Manhattan residents and workers to enable local farmers and producers to sustain their farm and food enterprises through direct marketing and meet consumers need for high-quality fresh and affordable food.We seek to provide consumers with enhanced access to fresh, locally grown, high quality seasonal produce and locally processed small-batch food products in a multi-vendor public market that also educates the community about local farmers and food producers, the diversity, quality and nutritional value of local food products, and the economic and environmental importance of local agriculture & strengthening our regional food system. We are committed to enhancing healthy affordable fresh food access for low-income nutritionally at-risk families living in the vicinity of t
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IRS990/ProgSrvcAccomActy2Grp/Desc0Fulton Stall Market - Two Bridges Youth MarketEstablishes a outdoor farmers market at 50 Madison St. in the Two Bridges neighborhood of the Lower East Side and Chinatown as a satellite of the Fulton Stall Market to provide low-income residents with convenient access to fresh, organically grown, affordable produce while employing six local teenage youth from a youth development program.Two Bridges Youth Market was developed in collaboration with the long-established nonprofit social service agency Hamilton-Madison House and two of the Fulton Stall Markets farmers. In 2022 it operated weekly on Sundays July 17 to December xxx offering a wide variety of locally grown seasonal vegetables and apples from the farmers.By participating in the New York State WIC and Senior Farmers Market Nutrition Program and the USDA SNAP program, in addition to accepting cash and credit cards, the Youth Market was able to provide hundreds of local families, including participants in the Woman, Infants, Children (WIC) program and Seniors, many of whom reside in nearby public housing, with access to these nutritious foods on a weekly basis. In addition, by participating in the NYC Department of Healths Health Bucks Program, the market was able to issue a 100% bonus for SNAP participants use of EBT cards up to $10 per day, thereby greatly incentivizing shopping for fresh local produce.The Youth Market was advertised in the community with information in English, Spanish and Chinese. To provide education in the selection and use of locally grown seasonal fresh produce, including unfamiliar varieties, the market recruited a series of celebrity chefs as volunteers to conduct weekly food preparation demos, with free samples.Number of persons benefited: 100-300 consumers per week 8 youth market operators - 2 participating NY farmers
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt09209
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IRS990/ProgSrvcAccomActy3Grp/Desc0Saturday Outdoor MarketOperate a Saturday outdoor farmers market from June-November where residents, workers and visitors can discover and purchase fresh seasonal produce and locally made specialty foods directly from Fulton Stall Market farmers and small-batch NYC area food producers, including minority and women (M/WBE) food entrepreneurs. The market provides these producers with a low-cost, high visibility, direct sales outlet for their products, enabling many to take the first step in launching a new food business. The market brings colorful activity, foot traffic, and vibrancy to the historic Seaport area while directing shoppers to the indoor Fulton Stall Market where the participating farmers and producers products are available to the public six days a week year-round.In 2022 the Saturday Outdoor Market operated from June through November on the historic Fulton St. cobblestones with 15 farmers and producers/week from a pool of 25 rotating producers. It is supported by NYC Council discretionary grants awarded via the NYC Dept. of Youth and Community Development and the NYC Department of Health.To support climate-friendly transportation of locally sourced foods we continued to partner with the Hudson Valley Schooner Apollonia, an environmental sustainability project reactivating sail freight delivery of local farm products from Hudson Valley farmers and producers to New York City and the South Street Seaport Museum. Schooner Apollonia delivered pre-ordered products to Manhattans Pier 16 across from the market, operated by the Museum and participated in the outdoor market to educate the public about its mission to reduce the use of fossil fuels, strengthen the regional food system and address climate change. Number of persons benefited: 1,000 consumers and 25 farmers and producers
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: Fulton Stall Market - Two Bridges Youth MarketEstablishes a outdoor farmers market at 50 Madison St. in the Two Bridges neighborhood of the Lower East Side and Chinatown as a satellite of the Fulton Stall Market to provide low-income residents with convenient access to fresh, organically grown, affordable produce while employing six local teenage youth from a youth development program.Two Bridges Youth Market was developed in collaboration with the long-established nonprofit social service agency Hamilton-Madison House and two of the Fulton Stall Markets farmers. In 2022 it operated weekly on Sundays July 17 to December xxx offering a wide variety of locally grown seasonal vegetables and apples from the farmers.By participating in the New York State WIC and Senior Farmers Market Nutrition Program and the USDA SNAP program, in addition to accepting cash and credit cards, the Youth Market was able to provide hundreds of local families, including participants in the Woman, Infants, Children (WIC) program and Seniors, many of whom reside in nearby public housing, with access to these nutritious foods on a weekly basis. In addition, by participating in the NYC Department of Healths Health Bucks Program, the market was able to issue a 100% bonus for SNAP participants use of EBT cards up to $10 per day, thereby greatly incentivizing shopping for fresh local produce.The Youth Market was advertised in the community with information in English, Spanish and Chinese. To provide education in the selection and use of locally grown seasonal fresh produce, including unfamiliar varieties, the market recruited a series of celebrity chefs as volunteers to conduct weekly food preparation demos, with free samples.Number of persons benefited: 100-300 consumers per week 8 youth market operators - 2 participating NY farmers
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is reviewed by the organization's board of director prior to the filing of the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The President of the board meets with each board member to discuss how a possible conflict could occur and works with them to determine whether there are any possible conflicts that need to be addressed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL POLICIES/DOCUMENTS THAT ARE REQUIRED TO BE PROVIDED TO THE PUBLIC ARE AVAILABLE UPON FORMAL REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/USAddress/AddressLine1Txt0535 Carlton Ave 1801
IRS990/USAddress/CityNm0Brooklyn
IRS990/USAddress/StateAbbreviationCd0NY
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IRS990/WebsiteAddressTxt0www.fultonstallmarket.org
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Stephen Dima
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Fulton Market Association Inc
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0co Stephen C Dima
ReturnHeader/Filer/BusinessNameControlTxt0FULT
ReturnHeader/Filer/EIN0812871972
ReturnHeader/Filer/PhoneNum09173010016
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464721814
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Zelin & Associates CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0555 8th Ave Ste 2203
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
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