HISTORIC PORTLAND PUBLIC MARKET FO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

JESSICA ELKAN

Phone

5032082071

Tax Period

2025-01-01 to 2025-12-31

HISTORIC PORTLAND PUBLIC MARKET FOUNDATION, founded in 2003, is a mid-sized nonprofit in the Community Improvement sector that reported $18.3M in total revenue in fiscal year 2025. Revenue surged 433% from the prior year, signaling strong growth momentum. The organization ran a surplus of $17.4M, a strong 95% operating margin.

Mission

THE JAMES BEARD PUBLIC MARKET IS A NONPROFIT ORGANIZATION WITH A MISSION TO CREATE A VIBRANT, INCLUSIVE, 7 DAY A WEEK, YEAR-ROUND PUBLIC MARKET IN DOWNTOWN PORTLAND THAT CELEBRATES OREGON'S BOUNTY, SUPPORTS SMALL FOOD-RELATED BUSINESSES, AND STRENGTHENS THE REGIONAL FOOD ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $402,132

IN JANUARY 2025, THE FOUNDATION COMPLETED ACQUISITION OF THE HISTORIC UNGAR BUILDING IN DOWNTOWN PORTLAND, ESTABLISHING SITE CONTROL AND TRANSITIONING THE PROJECT INTO ITS CONSTRUCTION PHASE...

IN JANUARY 2025, THE FOUNDATION COMPLETED ACQUISITION OF THE HISTORIC UNGAR BUILDING IN DOWNTOWN PORTLAND, ESTABLISHING SITE CONTROL AND TRANSITIONING THE PROJECT INTO ITS CONSTRUCTION PHASE. FOLLOWING ACQUISITION, DEMOLITION ACTIVITIES COMMENCED IN PREPARATION FOR RENOVATION AND ADAPTIVE REUSE.THE FOUNDATION CONDUCTED A STATEWIDE VENDOR RECRUITMENT PROCESS AND CLOSED APPLICATIONS IN MARCH 2025, RECEIVING MORE THAN 100 QUALIFIED SUBMISSIONS. VENDOR CATEGORIES INCLUDE FRESH PRODUCE, PREPARED FOODS, MEAT AND SEAFOOD, BAKERY, PANTRY, BEVERAGE, AND SPECIALTY RETAIL. VENDOR SELECTION IS COMPLETED. CONSTRUCTION BEGAN, WITH A PROJECTED PUBLIC OPENING IN EARLY 2027. CONCURRENTLY, THE FOUNDATION CONTINUES DEVELOPMENT OF ITS OPERATIONAL FRAMEWORK, VENDOR SUPPORT SYSTEMS, AND LONG-TERM SUSTAINABILITY MODEL DESIGNED TO SUPPORT SMALL BUSINESS GROWTH AND INCLUSIVE ECONOMIC DEVELOPMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $18,302,995

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $18,302,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $238,697

Fundraising Expenses $96,788

Program Expenses $402,132

Other Expenses $653,094

TOTAL EXPENSES $891,791

Year-over-Year Comparison

	2025	2024	Change
Revenue	$18,302,995	$3,432,242	+4.3%
Expenses	$891,791	$375,443	+1.4%
Net Income	$17,411,204	$3,056,799	+4.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$166,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PIPPA AREND	PRESIDENT	3.00	Officer Director	$0	$0	$0
JANE GORDON	VICE CHAIR	3.00	Officer Director	$0	$0	$0
JEFF MILLER	SECRETARY	3.00	Officer Director	$0	$0	$0
JIM BEAN	TREASURER	3.00	Officer Director	$0	$0	$0
RU BUDHI	TRUSTEE	3.00	Director	$0	$0	$0
LINDSAY FORD	TRUSTEE	3.00	Director	$0	$0	$0
FRANK FOTI	TRUSTEE	3.00	Director	$0	$0	$0
KANTH GOPALPUR	TRUSTEE	3.00	Director	$0	$0	$0
AMELIA HARD	TRUSTEE	3.00	Director	$0	$0	$0
RICHARD HARRIS	TRUSTEE	3.00	Director	$0	$0	$0
JANIE HIBLER	TRUSTEE	3.00	Director	$0	$0	$0
GREG HIGGINS	TRUSTEE	3.00	Director	$0	$0	$0
WILLOW HILL	TRUSTEE	3.00	Director	$0	$0	$0
MARTIN MCCLANAN	TRUSTEE	3.00	Director	$0	$0	$0
PETER PLATT	TRUSTEE	3.00	Director	$0	$0	$0
NANCY PONZI	TRUSTEE	3.00	Director	$0	$0	$0
DAVID SIGAL	TRUSTEE	3.00	Director	$0	$0	$0
JACOBSEN VALENTINE	TRUSTEE	3.00	Director	$0	$0	$0
JESSICA ELKAN	EXECUTIVE DIRECTOR	40.00	Officer	$166,000	$0	$166,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$18,302,995	$891,791	$21,413,530	$17,411,204
2024	$3,432,242	$375,443	$3,205,433	$3,056,799
2022	$229,289	$140,282	$186,686	$89,007

HISTORIC PORTLAND PUBLIC MARKET FOUNDATION