2025-11-17T18:27:03-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2024-01-01 320030432 EASTERN MARKET CORPORATION EAST 3138339300 2934 RUSSELL DETROIT MI 482074826 KATHARINE TRUDEAU PRESIDENT 3138339300 2025-11-17 1 1 SHELBY NETZ P01405265 4147775500 2025-11-17 2024 2025-03-06 01:10:19Z EASTERN MARKET PARTNERSHIP KATHARINE TRUDEAU 2934 RUSSELL DETROIT MI 482074826 7033418 0 X WWW.EASTERNMARKET.ORG X 2006 MI 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. 21 21 67 40 0 0 6613638 5142282 0 1534718 107858 137814 1409221 -18061 8130717 6796753 158239 439253 0 0 2877823 2718461 0 0 498178 2503847 3183886 5539909 6341600 2590808 455153 14377658 14432831 1153703 568276 13223955 13864555 X EASTERN 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. 0 0 3880501 439253 1426469 PUBLIC MARKET ACTIVITIES: FEES FOR THE USE OF MARKET FACILITIES AND LOTS, AS WELL AS SHED STALL LEASES TO PROVIDE MARKET VENDORS ACCESS TO THE PUBLIC IN A CENTRALIZED LOCATION INCLUDING 52 SATURDAY MARKETS, NUMEROUS SUNDAY AND TUESDAY MARKETS, AND SEVERAL PRIVATE FACILITY RENTALS. 670475 128604 FOOD ACCESS SUPPORT PROGRAM: COMMUNITY BASED POP-UP MOBILE MARKET THAT IMPROVES ACCESS TO FRESH, HEALTHY FOOD AND PROVIDES NUTRITION EDUCATION. 4550976 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 122 0 1 67 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X KATHARINE TRUDEAU 3138339300 2934 RUSSELL DETROIT MI 482074826 CINDY PASKY CHAIR 1.00 X X 0 0 0 DONALD RENCHER VICE-CHAIR 1.00 X X 0 0 0 DREW PATRICK TREASURER 1.00 X X 0 0 0 VINCENT SANNA SECRETARY 1.00 X X 0 0 0 ARMOND HARRIS DIRECTOR 1.00 X 0 0 0 BJ BELCOURE DIRECTOR 1.00 X 0 0 0 BRIAN ELLISON DIRECTOR 1.00 X 0 0 0 BRITTANY HOSKWIC DIRECTOR 1.00 X 0 0 0 CARLOS PARISI DIRECTOR 1.00 X 0 0 0 CHRISTOS MOSIDES DIRECTOR 1.00 X 0 0 0 CRYSTAL PERKINS DIRECTOR 1.00 X 0 0 0 DARA O'BRYNE DIRECTOR 1.00 X 0 0 0 FRANK GERMACK DIRECTOR 1.00 X 0 0 0 FRED DURHAL DIRECTOR 1.00 X 0 0 0 JAY BONAHOOM DIRECTOR 1.00 X 0 0 0 JOE SPENCER DIRECTOR 1.00 X 0 0 0 JONATHAN KUNG DIRECTOR 1.00 X 0 0 0 LATISHA JOHNSON DIRECTOR 1.00 X 0 0 0 RON BRUNDIDGE DIRECTOR 1.00 X 0 0 0 TOSHA TABRON DIRECTOR 1.00 X 0 0 0 VIOLET GINTSIS DIRECTOR 1.00 X 0 0 0 DANIEL CARMODY CEO (TERM 12/2024) 45.00 5.00 X 187090 0 11070 KATHARINE TRUDEAU PRESIDENT 34.00 6.00 X 168952 0 0 BRANDON SENG DIRECTOR OF PROGRAMS 39.00 1.00 X 128979 0 0 PERCOLA BROOKS DIR. OF ACCOUNTING (TERM 11/2024) 40.00 X 109734 0 250 JAMES SUTHERLAND DIRECTOR OF FACILITIES 40.00 X 105420 0 990 700175 0 12310 5 0 1 0 IN THE BUSINESS OF FOOD 2200 HUNT STREET STE 434 DETROIT MI 48207 FOOD EDUCATION AND TRAINING 182850 QUATRRO BUSINESS SUPPORT SERVICES 1850 PARKWAY PLACE STE 100 MARIETTA GA 30067 ACCOUNTING SUPPORT 178628 REDOT WASTE SERVICES 111 GRISWOLD STREET DETROIT MI 48207 WASTE DISPOSAL 145304 3 108850 1928781 3104651 5142282 RENTAL REVENUE 531390 1494778 1494778 39940 39940 1534718 137814 137814 90000 90000 0 108850 128416 -128416 -128416 128604 108249 20355 20355 6796753 1555073 0 99398 439253 439253 356043 227868 67648 60527 1881478 1211026 359525 310927 44389 28409 8434 7546 258657 165540 49145 43972 177894 113852 33800 30242 54194 35226 16258 2710 94017 23504 65812 4701 178628 44657 125040 8931 230618 149902 69185 11531 169223 34615 134608 133168 59186 73982 161673 69931 75575 16167 522033 469901 52132 18959 4740 14219 11036 2759 8277 718 287 359 72 597918 538126 59792 98714 88843 9871 GROUNDS 434222 390800 43422 MAINTENANCE 245097 220587 24510 PROGRAM EXPENSES 204901 204901 BAD DEBT 20249 20249 8518 6814 852 852 6341600 4550976 1292446 498178 2190544 1113122 0 1214745 2562658 2811581 61487 313871 106405 141079 1643804 1549004 16757353 9498039 7689460 7259314 123300 30115 14377658 14432831 362960 452172 54046 85665 691388 0 45309 30439 1153703 568276 X 8761283 9011063 4462672 4853492 13223955 13864555 14377658 14432831 455153 185447 0 X X 0 1 X 1 1 1 X 4143847 4211900 3409189 6613638 5142282 23520856 1352401 1370363 1614235 1599837 1555073 7491909 15600 19812 15600 15600 1619 68231 5511848 5602075 5039024 8229075 6698974 31080996 816000 1535620 5515000 2905000 10771620 0 816000 1535620 5515000 2905000 10771620 20309376 33038 154474 148981 137858 227814 702165 33038 154474 148981 137858 227814 702165 37879 38124 67981 32311 176295 5582765 5794673 5255986 8399244 6926788 31959456 0.63550 0.96540 0.02200 0.01590 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 37,879. 2021 AMOUNT: $ 38,124. 2022 AMOUNT: $ 67,981. 2023 AMOUNT: $ 32,311. 2024 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 138513 138513 907524 175691 731833 14814849 8457535 6357314 810318 778664 31654 86149 86149 0 7259314 LEASE LIABILITIES 30439 30439 X 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. GALA 108850 108850 5061 123355 108850 108850 5061 123355 128416 -128416 1 1XRUN LLC 2905 BEAUFAIT STREET DETROIT MI 48207 274352421 N/A 203000 0 SEE PART IV 48207-11 GRASSROOT DETROITERS 3409 CANFIELD ST DETROIT MI 48207 872694542 N/A 85000 0 SEE PART IV 0 2 PART I, LINE 2: THE ORGANIZATION REQUIRES DOCUMENTATION OF EXPENDITURES RELATIVE TO ALL GRANT FUNDS PROVIDED AND AWARDED TO QUALIFYING COMPANIES. PART II, LINE 1, COLUMN H: SUPPORT TWO INITIATIVES: 1) MURALS IN ISLANDVIEW PUBLIC ART PROJECT TO FOSTER COMMUNITY PRIDE AND ENGAGEMENT IN DETROIT'S ISLANDVIEW NEIGHBORHOOD. 2) SMALL BUSINESS MURALS PROJECT PAIR DETROIT ARTISTS WITH LOCAL SMALL BUSINESSES TO CREATE LARGE-SCALE EXTERIOR MURALS, BOOSTING VISIBILITY AND CULTURAL VIBRANCY. PART II, LINE 2, COLUMN H: SUPPORT REPAIRS FOR NEIGHBORHOOD HOMES TO: 1) IMPROVE QUALITY OF LIFE FOR LONG-TERM RESIDENTS 2) ENHANCE CLIMATE RESILIENCY AND ENERGY EFFICIENCY 3) NCREASE ELIGIBILITY FOR WEATHERIZATION PROGRAMS 4) PROMOTE EQUITABLE COMMUNITY BENEFITS DURING REDEVELOPMENT X X 0 0 0 0 0 0 0 0 0 DANIEL CARMODY CEO (TERM 12/2024) 187090 0 0 0 0 0 11070 0 0 0 198160 0 0 0 KATHARINE TRUDEAU PRESIDENT 168952 0 0 0 0 0 0 0 0 0 168952 0 0 0 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. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. EASTERN MARKET DEVELOPMENT CORPORATION 2934 RUSSELL DETROIT MI 482074826 821252089 BUSINESS AND RESOURCE DEVELOPMENT MI 501(C)(3) LINE 10 EASTERN MARKET CORPORATION 1 EMDC SHED 7 SUPPORTING CORPORATION 2934 RUSSELL DETROIT MI 482074826 994788096 SUPPORT OPERATIONS OF EASTERN MARKET DEVELOPMENT CORPORATION MI 501(C)(3) LINE 12A, I EASTERN MARKET DEVELOPMENT CORPORATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0