Nonprofit · EIN 27-0600567
NEWBO CITY MARKET
Also known as NewBo City Market
Tax-exempt · CEDAR RAPIDS, IA 52401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,496,642 | $1,149,452 | $1,347,190 | $4,113,585 | $575,112 | $3,538,473 |
| December 31, 2023 | 990 | $1,076,799 | $1,074,263 | $2,536 | $2,835,853 | $647,352 | $2,188,501 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,867,453
- of which government grants
- $35,396
- Program service revenue
- $513,592
- Investment income
- $28,734
- Net income from sales of inventory
- $80,053
- Other revenue
- $86,863
Expenses
- Grants and similar amounts paid
- $36,163
- Compensation of officers, directors and key employees
- $108,496
- Other salaries and wages
- $393,212
- Salaries, compensation and benefits (total)
- $576,397
- Professional fundraising fees
- $0
- Legal fees
- $4,452
- Accounting fees
- $54,006
- Occupancy
- $219,516
- Travel
- $3,147
- Depreciation
- $60,657
- Program services (functional)
- $676,357
- Management and general (functional)
- $395,714
- Fundraising (functional)
- $77,381
Balance sheet and other
- Total assets, start of year
- $2,835,853
- Total assets, end of year
- $4,113,585
- Total liabilities, end of year
- $575,112
- Net assets, end of year
- $3,538,473
- Land, buildings and equipment
- $2,115,989
- Net assets without donor restrictions
- $1,236,231
- Net assets with donor restrictions
- $2,302,242
- Gross receipts
- $2,581,757
- Employees
- 30
- Volunteers
- 20
- Year formed
- 2009
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PARISI JULIE | EXECUTIVE DIRECTOR Officer | 40 | $99,407 | $9,089 |
| SYTSMA JASON | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| SWENSON SCOTT | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| O'HARA KELLY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| KARL JOANA | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| YANEZ GLADYS | PAST CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| ARMITAGE ANNE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BANTA TOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BYNOE WARREN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DURIN PETER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HANNA KIM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JONES DIANA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KOTECHA PANKIT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LALA ROB | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARSON TIM | DIRECTOR Trustee or director | 1 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MEAD APRIL | DIRECTOR Trustee or director | 1 | $0 |
| MEYER MARK | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PARISI JULIE | EXECUTIVE DIRECTOR Officer | 40 | $84,479 | $8,915 |
| YANEZ GLADYS | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| SYTSMA JASON | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| O'HARA KELLY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| SWENSON SCOTT | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| LALA ROB | PAST CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BANTA TOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BYNOE WARREN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DURIN PETER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JONES DIANA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARSON TIM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MEYER MARK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NELSEN KATHI | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1100 3RD ST SE, CEDAR RAPIDS, IA 52401-2306
- Mailing address (990-N for 2010)
- PO Box 667, Cedar Rapids IA 524060667
- Principal officer (990 for 2024)
- WARREN BYNOE, 1100 3RD ST SE, CEDAR RAPIDS, IA 52401
- Principal officer (990-N for 2010)
- Sara Ordover, 223 26th Street Drive, Cedar Rapids IA 52403
- Signed the 990
- WARREN BYNOE, BOARD TREASURER
- Phone
- (319) 200-4050
- Website
- www.newbocitymarket.com
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
FOSTER ECONOMIC DEVELOPMENT BY UPLIFTING ENTREPRENEUERS AND ARTISTS THROUGH AN EQUITABLE BUSINESS INCUBATOR, ACCESSIBLE PUBLIC PROGRAMMING, AND A COMMUNITY GATHERING SPACE.
Program accomplishments
- 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.Expenses $275,796 · grants $36,163 · revenue $593,645
- 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.Expenses $236,569
- 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.Expenses $163,992
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-0600567
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $4,113,585
- Income (IRS master file)
- $2,581,757
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,496,642 | $1,149,452 | $4,113,585 | XML |
| 990 | December 2023 | $1,076,799 | $1,074,263 | $2,835,853 | XML |
| 990 | December 2022 | $1,383,456 | $1,160,132 | $2,862,007 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2010 Officer: Sara Ordover | December 31, 2010 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-0600567).
Questions about NEWBO CITY MARKET
- What is the EIN of NEWBO CITY MARKET?
- The employer identification number (EIN) of NEWBO CITY MARKET is 27-0600567.
- Is NEWBO CITY MARKET tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to NEWBO CITY MARKET tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEWBO CITY MARKET file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEWBO CITY MARKET due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEWBO CITY MARKET last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEWBO CITY MARKET?
- The 990 for the year ended December 31, 2024 names WARREN BYNOE.
- Who are the officers and directors of NEWBO CITY MARKET?
- The 990 for the year ended December 31, 2024 lists 17 people; 1 received compensation from the organization, the highest $99,407 (PARISI JULIE, EXECUTIVE DIRECTOR).
- How much revenue does NEWBO CITY MARKET have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,496,642, expenses of $1,149,452 and total assets of $4,113,585 at year end.
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- ENTREPRENEURIAL DEVELOPMENT CENTER INC EIN 42-1447565 · last filed 990 for 2024
- MASONIC SERVICE ASSOCIATION EDUCATION DEPARTMENT EIN 53-0204605 · last filed 990 for 2024
- MEDQUARTER INC EIN 35-2576257 · last filed 990 for 2025
- CEDAR RAPIDS RESIDENTIAL ELECTRICAL INDUSTRY MARKET IMPROVEMENT FUND EIN 73-1653637 · last filed 990-EZ for 2025
- JUNIOR LEAGUE OF CEDAR RAPIDS INC EIN 42-6060212 · last filed 990-EZ for 2025
All nonprofits in CEDAR RAPIDS · Iowa · Community improvement and capacity building