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Mercado on 5th INC

Tax-deductible

Moline, IL501(c)(3)Community Development EIN 81-5377245Revenue $629K in FY2024

On file with the IRSmercadoonfifth.com2212 37th St, 61265-4439 · Moline, ILTax-exempt since Feb 2017Publicly supported — 509(a)(2)

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The mission of Mercado on 5th INC. Is to provide a multi-cultural market for entrepreneurs in a diverse welcoming atmosphere, to bring together minorities in the community and allow small businesses the opportunity to promote and grow their businesses, and to promote a primarily minority neighborhood.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Run by 50 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $222K a year · 32% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $115K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$629K
-60% vs prior year
Spent
$684K
To programs
88%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$629K
FY2024▼ -60%
Tap a bar for its year
Revenue by fiscal year
FY2020$225K
FY2021$384K
FY2022$628K
FY2023$1.6M
FY2024$629K
Expenses
$684K
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$77K
FY2021$272K
FY2022$739K
FY2023$551K
FY2024$684K
Net assets
$1.2M
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$249K
FY2021$313K
FY2022$202K
FY2023$1.2M
FY2024$1.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $602K Management & general 11% · $73K Fundraising 1% · $9K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jayne O'Brien
Board Chair
$0Pt VII · Sec A
Rosalva Portillo
Board Vice Chair
$0Pt VII · Sec A
Carlos Gomez
Board Member
$0Pt VII · Sec A
Juanita Zertuche
Board Member
$0Pt VII · Sec A
Geoff Manis
Board Member
$0Pt VII · Sec A
Jerry Jones
Board Member
$0Pt VII · Sec A
Lindsey Hines
Board Member
$0Pt VII · Sec A
See Mercado on 5th INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports minority entrepreneurs and small businesses with a multicultural market and welcoming atmosphere.

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Provided by the organization

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1 program · $602K · in their own filed words · FY2024
01

Mercado on 5TH creates and sponsors markets throughout the year to impact and improve the lives of hundreds of families in the predominately hispanic floreciente neighborhood of moline illinois.

$602Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Quad Cities Golf Classic Charitable FoundationFY2024$109K
Pga Tour INCFY2024$6K
Doris & Victor Day Foundation INCFY2024$600
Total grants receivedfrom 3 funders$115K
See all 3 funders →
Grants paid · 1 grant · $22K · 2020–2020
Unitemized GrantFY2020$21,704

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$629K
Ln 12
Gifts and grantsLn 1h$288K
Fees for servicesLn 2g$202K
Other incomeLn 4–11$134K
Money outPt IX
$684K
Ln 25
Programscol B$602K
Managementcol C$73K
Fundraisingcol D$9K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$162K
Total assetsLn 16$1.2M
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$288K
Government grantsLn 1e$30K
Fees for servicesLn 2g$202K
Investment incomeLn 3$5K
Other incomeLn 4–11$134K
Total revenueLn 12$629K
Assets in detailPt X, end of year
CashLn 1$162K
Cash and savings togetherLn 1–2$162K
Land, buildings, equipmentLn 10c$1.0M
Total assetsLn 16$1.2M
LiabilitiesLn 26$0
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 54
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$270K$162K
Land, buildings, equipmentLn 10c$950K$1.0M
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.2M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$214K$190K$16K$8K
Payroll taxesLn 10$16K$14K$1K$615
Other fees for servicesLn 11g$4K$4K
Advertising and promotionLn 12$2K$2K
Information technologyLn 14$5K$5K
OccupancyLn 16$76K$69K$8K
Depreciation, depletion and amortizationLn 22$28K$28K
InsuranceLn 23$24K$10K$14K
Other expenses (24a–d)Ln 24$283K$276K$7K
All other expensesLn 24e$31K$14K$17K
Total functional expensesLn 25$684K$602K$73K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $629K$684K−$55K$1.2M 990 PDF
FY2023 $1.6M$551K$1.0M$1.2M 990 PDF
FY2022 $628K$739K−$111K$202K 990 PDF
FY2021 $384K$272K$112K$313K 990 PDF
FY2020 $225K$77K$148K$249K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $628,753 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,312,965$287,767
I-9 Program service revenuePrior year $102,351$201,964
I-10 Investment incomePrior year $2,587$5,031
I-11 Other revenuePrior year $150,140$133,991
I-12 Total revenuePrior year $1,568,043$628,753
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $156,178$230,598
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $394,535$453,215
I-18 Total expensesPrior year $550,713$683,813
I-19 Revenue less expensesPrior year $1,017,330−$55,060
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $628,753 across 7 lines filed
Lines not itemized here account for $126,800 of total revenue; see the IRS return.
VIII-1e Government grants$30,000
VIII-1f All other contributions, gifts and grants$257,767
VIII-1h Total contributions, gifts and grants$287,767
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $201,964$201,964
VIII-3 Investment incomeExcluded from tax $5,031$5,031
VIII-6 Net rental income or lossRelated to mission $7,191$7,191
VIII-12 Total revenueRelated to mission $335,955 · Unrelated business $0 · Excluded from tax $5,031$628,753
Part IX · Statement of functional expenses $683,813 across 10 lines filed
IX-7 Other salaries and wagesPrograms $190,062 · Management $16,148 · Fundraising $8,073$214,283
IX-10 Payroll taxesPrograms $14,471 · Management $1,229 · Fundraising $615$16,315
IX-11g Other fees for servicesManagement $4,143$4,143
IX-12 Advertising and promotionManagement $2,166$2,166
IX-14 Information technologyManagement $4,773$4,773
IX-16 OccupancyPrograms $68,668 · Management $7,707$76,375
IX-22 Depreciation, depletion and amortizationPrograms $27,932$27,932
IX-23 InsurancePrograms $10,115 · Management $13,550$23,665
IX-24 Other expenses (24a–d)Programs $276,433 · Management $6,830$283,263
IX-24e All other expensesPrograms $13,963 · Management $16,935$30,898
IX-25 Total functional expensesPrograms $601,644 · Management $73,481 · Fundraising $8,688$683,813
Part X · Balance sheet $1,164,092 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $269,580$162,152
X-10c Land, buildings and equipment, netStart of year $949,572$1,001,940
X-16 Total assetsStart of year $1,219,152$1,164,092
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,219,152$1,164,092
X-33 Total liabilities and net assetsStart of year $1,219,152$1,164,092
Part XI · Reconciliation of net assets $1,164,092 net assets at year end
XI-1 Total revenue$628,753
XI-2 Total expenses$683,813
XI-3 Revenue less expenses−$55,060
XI-4 Net assets at start of year$1,219,152
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,164,092

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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