Passes our checks

Friends of Global Market Inc

EIN 83-2642593 · Minneapolis, MN

Public records show a registered, tax-exempt organization in good standing.

What it says it does

TO SUPPORT THE MIDTOWN GLOBAL MARKET AS A VITAL COMMUNITY RESOURCE THAT SUPPORTS SMALL BUSINESS, CULTURAL DIVERSITY, AND FREE/LOW-COST PROGRAMMING.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Fair: 50 out of 100. Higher than 21% of charities in its peer group (community improvement, under $250k).

Reserves
10 of 35
Spendable reserves would cover 2.0 months of spending.
Debt
20 of 20
It owes 8% of what it owns.
Living within its means
0 of 15
Spending exceeded income by 71% of income.
Income trend
5 of 15
Income fell 17% on the year before.
Spending floor
15 of 15
93% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Good: 81 out of 100. Higher than 67% of charities in its peer group (community improvement, under $250k).

Independent board
25 of 25
7 of 7 voting board members are independent.
Conflict of interest policy
15 of 15
Has a written conflict of interest policy.
Whistleblower policy
0 of 8
Reports no written whistleblower policy.
Record keeping policy
0 of 7
Reports no written policy on keeping and destroying records.
Board minutes
5 of 5
Keeps minutes of board meetings.
Board sees the tax return
10 of 10
Gave the board a copy of this return before filing it.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)

$355,425 spent. MIDTOWN GLOBAL MARKET HAS OVER 32 LOCALLY-OWNED BUSINESSES, AND HAS GAINED NATIONAL ATTENTION AS A VIBRANT, CULTURAL MARKET WHERE COMMUNITIES GATHER IN MINNEAPOLIS, MINNESOTA. MIDTOWN GLOBAL MARKET IS A SPACE WHERE ENTREPRENEURS CAN BRING THEIR BUSINESS DREAMS INTO A REALITY.SINCE THE MARKET HAS A COMMUNITY DEVELOPMENT MISSION AND IS NOT IN EXISTENCE TO MAKE A PROFIT, ONE OF THE PRIMARY PARTS OF OUR MISSION IS TO TRAIN AND SUPPORT THE ENTREPRENEURS AND SMALL BUSINESSES INSIDE THE MARKET IN MANY DIFFERENT WAYS, AT NO COST TO THEM.FRIENDS OF GLOBAL MARKET SUPPORTS THE MISSION OF MIDTOWN GLOBAL MARKET BY BUILDING THE "FRIENDS" TO THE MARKET AND HELPING KEEP THE MARKET A PLACE OF RESOURCE FOR OUR SMALL BUSINESS OWNERS AND THE COMMUNITY. WE WILL HELP BUILD THE LEGACY OF THE MIDTOWN GLOBAL MARKET.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since August 2019.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.