Newbo City Market
Newbo City Market
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About this organization
Mission
SMALL BUSINESS INCUBATOR, ARTS AND EVENTS CENTER, ECONOMIC DEVELOPMENT AND PHILANTHROPIC PARTNER.
About
ECONOMIC DEVELOPMENT: NEWBO CITY MARKET IS A NONPROFIT ORGANIZATION SHOWCASING OUR COMMUNITY'S ASSETS, INSPIRATION, AND POTENTIAL BY CULTIVATING NEW BUSINESSES AND ENTREPRENEURSHIP AND BY SUPPORTING LOCAL ARTISTS AND ARTISANS, HARNESSING THE POWER OF CULTURE AND CREATIVITY TO DRIVE ECONOMIC GROWTH AND TO BUILD THE CHARACTER AND QUALITY OF OUR COMMUNITY. THIS CORE OF THIS MISSION IS COMMUNITY-BASED ECONOMIC DEVELOPMENT BY USING LOCAL RESOURCES IN A WAY THAT ENHANCES ECONOMIC OPPORTUNITIES WHILE IMPROVING SOCIAL CONDITIONS IN A SUSTAINABLE WAY. OFTEN COMMUNITY-BASED ECONOMIC DEVELOPMENT INITIATIVES ARE IMPLEMENTED TO OVERCOME CRISES (SUCH AS THE 2008 FLOOD) AND INCREASE OPPORTUNITIES FOR COMMUNITIES THAT ARE DISADVANTAGED. TO MEET THIS GOAL, NEWBO CITY MARKET HAS BECOME BOTH A CULTURAL ORGANIZATION AND AN ECONOMIC DEVELOPMENT INITIATIVE, BLENDING SOCIAL AND ECONOMIC DEVELOPMENT TO FOSTER THE ECONOMIC, SOCIAL, ECOLOGICAL AND CULTURAL WELL-BEING OF OUR COMMUNITY. THE ORGANIZATION LOWERS BARRIERS FOR DIVERSE ENTREPRENEURS AND CREATES A LAUNCH PAD FOR STARTUP AND EARLY-STAGE BUSINESSES THAT HAVE A DISTINCT FOCUS ON LOCAL PRODUCTS. IN 2018, THE ORGANIZATION WAS HOME TO 26 SMALL BUSINESSES EMPLOYING OVER 200 PEOPLE AND RECEIVING OVER $3.5 MILLION IN GROSS REVENUE ANNUALLY. SINCE OPENING THE MARKET IN 2012, 12 SMALL BUSINESSES HAVE OR ARE IN THE PROCESS OF GRADUATING FROM THE MARKET AND OPENING STAND-ALONE LOCATIONS IN THE AREA. THE ORGANIZATION ALSO PARTNERS WITH SEVERAL COMMUNITY, MUNICIPAL, AND EDUCATIONAL INSTITUTIONS TO FOSTER ECONOMIC AND WORKFORCE DEVELOPMENT.
Interesting data from their 2019 990 filing
The filing reveals the mission of the non-profit as “Newbo city market is a small business incubator for food and retail start-ups, an arts and events center, and serves our community through economic development and philanthropic outreach.”.
When detailing its functions, they were listed as: “Small business incubator, arts and events center, economic development and philanthropic partner.”.
- According to the law, the state where the non-profit operates has been reported as IA.
- The filing specifies that the non-profit's address in 2019 was 1100 3RD ST SE, CEDAR RAPIDS, IA, 52401.
- As of 2019, the non-profit's form shows they have a total of 28 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is -$431,529.
- The organization has 16 independent voting members.
- The organization was formed in 2009.
- The organization pays $298,788 in salary, compensation, and benefits to its employees.
- The organization pays $79,815 in fundraising expenses.
Additional Non-Profits in the area
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