FULTON MARKET ASSOCIATION INC C/O STEPHEN C DIMA

EIN: 812871972 501(c)(3) Community Improvement

BROOKLYN, NY

Total Revenue
$116,938
Total Expenses
$114,441
Total Assets
$42,750
Net Assets
$30,540
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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
NY
Principal Officer
STEPHEN DIMA
Phone
9173010016
Tax Period
2024-01-01 to 2024-12-31

FULTON MARKET ASSOCIATION INC C/O STEPHEN C DIMA, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $117K in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $16,057 Revenue: $45,862

Program #1 - Fulton Stall Market and Community Supported Agriculture (CSA) Program This program operates the Fulton Stall Market, a year-round multi-vendor indoor farmers market offering a wide...

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Program #1 - Fulton Stall Market and Community Supported Agriculture (CSA) Program This program operates the Fulton Stall Market, a year-round multi-vendor indoor farmers market offering a wide variety of healthy, affordable fresh seasonal farm produce and processed food products sold on consignment for small-scale local farmers and food producers directly to Lower Manhattan residents, workers and visitors. The market is officially designated as a Farmers Market by New York State, and in 2024 economically supported 115 local farmers and small-batch food processors, showcasing and selling their food products to consumers six days a week, thereby enhancing their brand visibility in Lower Manhattan and New York City and increasing their income from farm and food production. The market's producers included 50 family farmers and 65 food processors, primarily from NY State, including many women and minority-owned start-ups utilizing shared-use incubator kitchens. All need direct marketing outlets like farmers markets due to lack of the large product volumes to profitably market via traditional retail food stores. In 2024, the market operated on a six day a week schedule established during the 2020-2022 pandemic, when we functioned as a NYS designated Essential food source for Lower Manhattan residents and an economic lifeline for local farmers and producers. In addition to offering consumers traditional shopping, in 2024 the market continued to operate its year-round Community Supported Agriculture (CSA) program established in 2017. This program enables consumers to purchase 12-week "farm share subscriptions" for a wide variety of fresh, high-quality locally grown and produced foods from selected farmers and producers. The CSA farm share options offered during each 12-week season (spring, summer, fall and winter), included vegetables, fruit, sprouts, eggs, mushrooms, cheese, dairy, bread, pasta, beef, chicken, pork, ocean seafood and aquaculture (trout). Both the indoor farmers market and the CSA program generated crucial income for the market's 115 local farmers and producers, helping them rebound from pandemic losses and increasing costs of production, including materials, labor, energy and transportation, by providing a significantly higher economic return from our direct-to-consumer sales. In 2024 the market maintained its status as a licensed Farmers Market retailer by USDA under the Supplemental Food Assistance Program (SNAP), enabling SNAP participants who shop at the market, participate in the CSA Farm Share program and/or shop at the Two Bridges Youth Market (See Program #3) to continue to utilize their SNAP EBT (Electronic Benefits Transfer) cards to access fresh, affordable local produce and other nutritious foods unavailable at other retail food outlets in Lower Manhattan. In 2024 the market was approved for participation as a food retailer of New York farm and food products under the New York State Grown and Certified Program and the Taste NY Program, both operated by the New York State Department of Agriculture and Markets. Number of persons benefited: 115 local farmers and small-scale food producers; 10,000 residents, workers and visitors (est.) served by the indoor farmers market; 165 families in the CSA farm share program.

Program 2
Expenses: $705 Revenue: $3,083

Program #2- Fulton Stall Market Two Bridges Youth Market This program supports a youth-operated outdoor farmers market (Youth Market) that we initiated in 2022 at 50 Madison St. in the Two Bridges...

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Program #2- Fulton Stall Market Two Bridges Youth Market This program supports a youth-operated outdoor farmers market (Youth Market) that we initiated in 2022 at 50 Madison St. in the Two Bridges neighborhood of the Lower East Side as a satellite of the Fulton Stall Market to provide low-income residents living in public housing with convenient access to fresh, organically grown, affordable produce, create opportunities for eight local teenagers involved in a youth development program and benefit two farmers by expanding their sales via an additional direct marketing outlet. Two Bridges Youth Market was developed in 2022 in collaboration with the Lower East Side nonprofit social service agency Hamilton-Madison House and two of the Fulton Stall Market's fresh produce farmers. In 2024 it operated every Sunday from May 26 to December 15 (31 consecutive weeks), offering a wide variety of fresh-picked locally grown vegetables and fruit for the community, including many low-income families and elderly residents of the adjacent NYC Housing Authority's Alfred E. Smith Houses (12 apartment buildings housing 5,000+ residents), and other nearby housing developments. As an authorized farmers market in the New York State WIC and Senior Farmers Market Nutrition Program (FMNP) and the USDA SNAP program, the Youth Market was able to provide hundreds of local families, including many participants in the NYS Woman, Infants, Children (WIC) program and Senior Nutrition program, with convenient access to fresh nutritious local produce on a weekly basis. In addition, by participating in the NYC Department of Health's "Health Bucks" Program, the Youth Market was able to issue a 100% bonus for SNAP participants' use of SNAP EBT cards up to $10 per day in the $2 Health Bucks, thereby increasing their buying power, incentivizing shopping for fresh local produce and enhancing the participating farmers overall sales and income. The Youth Market was widely advertised in the Two Bridges community with flyers in English, Spanish and Chinese. On-site education in the preparation of locally grown seasonal fresh produce, including both culturally familiar and unfamiliar varieties, was provided weekly by nutrition educators from the NYC Department of Health's "Stellar Farmers Market" Program. Operating under multiple tents in front of Hamilton-Madison House's Community Center, the market was able to move indoors in rainy/cold weather. The market benefited from community outreach from Program #4 below which reached the entire residential population of the Gov. Alfred E. Houses projects (12 apartment buildings). Number of persons benefited: 100-300 consumers per week; 8 youth (market staff); 2 NY farmers supplying produce

Program 3
Expenses: $278 Revenue: $5,272

Program #3 - Two Bridges Community Healthy Local Food Access Project In 2023-24, utilizing a $48,930 grant awarded by the New York State Department of Agriculture and Markets, we operated a "Two...

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Program #3 - Two Bridges Community Healthy Local Food Access Project In 2023-24, utilizing a $48,930 grant awarded by the New York State Department of Agriculture and Markets, we operated a "Two Bridges Community Healthy Local Food Access" project to provide all 1,950 low-income households in the Gov. Alfred E. Smith Houses of the NYC Housing Authority (NYCHA) with a one-time package ($20 value) of seasonal fresh vegetables and fruit from two NY farmers. The objectives of the project were: (1) to provide a nutrition benefit to low-income NYCHA residents in the form of healthy fresh NY produce; (2) to introduce residents to the high-quality produce available at the nearby Two Bridges Youth Market where SNAP EBT, NYC Health Bucks and other nutrition benefits can be used; and (3) to support NY farmers through direct procurement of fresh produce for delivery to nutritionally at-risk low-income families. The project involved collaboration with the two farmers supplying the Two Bridges Youth Market and the Gov. Alfred E. Smith Houses Resident Association, whose Board members and volunteers assisted with the distribution of the fresh produce weekly on six Saturdays in October and November 2024. Grant funds were received in 2023 and 2024. Number of persons benefited: 1,950 low-income households (5,000+ residents); 2 NY farmers supplying produce

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $62,721
Program Service Revenue $0
Investment Income $0
Other Revenue $54,217
TOTAL REVENUE $116,938

Expense Breakdown

Grants Paid $0
Salaries & Benefits $83,436
Fundraising Expenses $0
Program Expenses $24,881
Other Expenses $31,005
TOTAL EXPENSES $114,441

Year-over-Year Comparison

2024 2023 Change
Revenue $116,938 $156,679 -0.3%
Expenses $114,441 $144,930 -0.2%
Net Income $2,497 $11,749 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
4
Volunteers
3

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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GEORGE EDWARDS DIRECTOR 5.0
Director
$0 $0 $0
ROBERT A LEWIS DIRECTOR 40.0
Director
$0 $0 $0
CAYLIN SANDERS DIRECTOR 5.0
Director
$0 $0 $0
MARY E LINSKEY SECRETARY 5.0
Officer
$0 $0 $0
SARA WILLIAMS TREASURER 10.0
Officer
$0 $0 $0
STEPHEN DIMA PRESIDENT 5.0
Officer
$0 $0 $0
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
2024 $116,938 $114,441 $42,750 $2,497
2023 $156,679 $144,930 $30,893 $11,749
2022 $143,161 $161,813 $28,464 $-18,652
2021 $153,518 $170,832 $44,365 $-17,314
2020 $163,339 $136,543 $70,813 $26,796
2019 $134,610 $128,490 $46,312 $6,120
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