EIN 27-0600567

Newbo City Market

IRS 501(c) type
501(c)(3)
Num. employees
31
State
Year formed
2009
Most recent tax filings
2022-12-01
Description
Newbo City Market is a nonprofit fostering entrepreneurs, artists, and local businesses while serving as a community gathering space in Cedar Rapids, IA.
Also known as...
Cedar Rapids City Market
Total revenues
$1,383,456
2022
Total expenses
$1,160,132
2022
Total assets
$2,862,007
2022
Num. employees
31
2022

Program areas at Newbo City Market

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, 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. Each year, the organization is home to up to 26 small businesses employing over 150 people and receiving nearly $3 million in gross revenue annually. Since opening the Market in 2012, over 20 small businesses have or are in the process of graduating from the Market and opening stand-alone locations in the area. The organization also parnters with several community, municipal, and educational institutions to foster economic and workforce development.
Neighborhood revitalization: the organization reclaimed and revitalized a block that received major flood damage in the city-wide flood of 2008 and helps drive the redevelopment and revitalization of the czech village/new bohemia district. The space is becoming a major attraction for the City of cedar rapids and the surrounding area. In 2018, the Market attracted over 500,000 people to this revitalized area and held over 200 community events. The Market also helps build a "localized economy," both inside the Market and throughout the district. Our localized economy is identified by several businesses in close proximity that all share the traits and values of entrepreneurship, arts and entertainment, small business, locally-sourced products, and locally-based talent with an eclectic business culture that values what is unique and "funky". "Newbo" has become synonymous with "entrepreneurship" in cedar rapids.
Community engagement: Newbo City Market has used placemaking as a method of economic development from the beginning with benefits that have extended far beyond enticing visitors, entrepreneurs, small businesses, and corporations. The organization hosts over 200 arts, entertainment, wellness, and community events open to the public; these events promote the local culture, drive economic growth for both businesses inside the organization and in the area, and build the character and quality of our public place. To local economies recovering from a loss of conventional industry (such as the loss of industrial businesses in the district), placemaking is a method for capitalizing on existing strengths, rather than inventing new ones, for the purpose of developing a stronger economy. We have seen strong returns to the local economy from tourism, an intrinsically place-based industry. Placemaking is an environmentally friendly form of economic development. The walkable and bikeable streets and trails that are favored by the placemaking philosophy have made a positive impact on not only business success, but also the wellness culture of the community. With our open spaces as part of both the Market's and district's identity, and therefore our development strategy, it has been important to both protect these spaces and improve them for greater utility and enjoyment. Placemaking encourages the recognition of local artists and musicians. It also places importance on preserving local landmarks and significant architecture.

Who funds Newbo City Market

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Ewing Marion Kauffman FoundationSupport for the Newbo City Market To Provide Additional Outreach Services To Target Bipoc Entrepreneurs in the Market's Business Support Programming in Cedar Rapids, Iowa. 202204-12265$180,000
The Wellmark FoundationExpand Market To Be An Incubator for Entrepreneurs To Sell Fresh Produce. This Will Include A Fully Licensed Production Kitchen and Classrooms.$100,000
Greater Cedar Rapids Community Foundation (GCRCF)Sustainable Playscape at Newbo City Market, Program Support: Sponsoring Cost for Ela Farmers at the Market, Expanding the Hatchery for Entrepreneurship Equity, Increasing Market Event Capacity$86,000
...and 8 more grants received

Personnel at Newbo City Market

NameTitleCompensation
Julie ParisiExecutive Director$64,571
Alexandra OlsenDirector of Marketing and Annual Giving
Sarah BlaisDirector of Development
Dan StolleyDirector of Programming
Brad KlingerManager
...and 17 more key personnel

Financials for Newbo City Market

RevenuesFYE 12/2022
Total grants, contributions, etc.$810,904
Program services$430,801
Investment income and dividends$2,761
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$747
Net income from gaming activities$0
Net income from sales of inventory$86,328
Miscellaneous revenues$51,915
Total revenues$1,383,456

Form 990s for Newbo City Market

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990View PDF
2021-122022-10-26990View PDF
2020-122021-10-21990View PDF
2019-122021-02-22990View PDF
2018-122019-11-05990View PDF
...and 8 more Form 990s
Data update history
January 22, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 22, 2024
Updated personnel
Identified 18 new personnel
December 29, 2023
Received grants
Identified 3 new grant, including a grant for $50,000 from Community Foundation of Greater Des Moines
August 6, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 8, 2023
Updated personnel
Identified 5 new personnel
Nonprofit Types
Parks and recreation centersBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Fundraising eventsState / local levelReceives government fundingTax deductible donations
General information
Address
1100 3rd St Se
Cedar Rapids, IA 52401
Metro area
Cedar Rapids, IA
County
Linn County, IA
Website URL
newbocitymarket.org/ 
Phone
(319) 200-4050
IRS details
EIN
27-0600567
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2009
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S20: Community, Neighborhood Development, Improvement
NAICS code, primary
713940: Fitness and Recreational Sports Centers
Parent/child status
Independent
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