SPECIALTY FOOD ASSOCIATION INC

EIN: 131934121

NEW YORK, NY

Total Revenue
$28,151,463
Total Expenses
$25,856,963
Total Assets
$84,400,298
Net Assets
$67,435,782
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1952
Legal Domicile
NY
Principal Officer
WILLIAM LYNCH
Phone
2124826440
Tax Period
2023-01-01 to 2023-12-31

SPECIALTY FOOD ASSOCIATION INC, founded in 1952, is a mid-sized nonprofit that reported $28.2M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $25.9M left a modest 8% surplus.

Mission

TO CHAMPION, NURTURE AND CONNECT OUR MEMBERS TO DELIVER INNOVATIVE PRODUCTS AND EXPAND CONSUMPTION OF SPECIALTY FOODS.

Program Service Accomplishments

Program 1

CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE...

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CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS.

Program 2

CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR...

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CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS.

Program 3

NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE...

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NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $25,779,553
Investment Income $2,370,275
Other Revenue $1,635
TOTAL REVENUE $28,151,463

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,958,099
Fundraising Expenses $0
Other Expenses $16,898,864
TOTAL EXPENSES $25,856,963

Year-over-Year Comparison

2023 2022 Change
Revenue $28,151,463 $31,371,451 -0.1%
Expenses $25,856,963 $21,901,278 +0.2%
Net Income $2,294,500 $9,470,173 -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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Financial Health Indicators

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

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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
17
Employees
46
Volunteers
70

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
7
$1,306,521
Total Directors
17
$52,235
Key Employees
7
$1,835,977
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JONATHAN E PRUDEN CHAIR 2.00
Officer Director
$3,547 $0 $3,547
CHARLES APT PAST CHAIR 2.00
Officer Director
$2,232 $0 $2,232
NONA YEANHONG LIM VICE CHAIR 2.00
Officer Director
$3,547 $0 $3,547
PIERRE A ABUSHACRA TREASURER 2.00
Officer Director
$2,500 $0 $2,500
JILL GIACOMINI BASCH SECRETARY 2.00
Officer Director
$3,668 $0 $3,668
JULIE BUSHA DIRECTOR 2.00
Director
$3,297 $0 $3,297
ELIZABETH A HALEY DIRECTOR 2.00
Director
$3,426 $0 $3,426
VICTORIA HO DIRECTOR 2.00
Director
$3,668 $0 $3,668
SCOTT JENSEN DIRECTOR 2.00
Director
$3,708 $0 $3,708
TYLER S LOWELL DIRECTOR 2.00
Director
$0 $0 $0
SARAH Z MASONI DIRECTOR 2.00
Director
$3,668 $0 $3,668
EMILIO MIGNUCCI DIRECTOR 2.00
Director
$2,903 $0 $2,903
JOMAREE PINKARD DIRECTOR 2.00
Director
$3,426 $0 $3,426
MIKE REICH DIRECTOR 2.00
Director
$3,184 $0 $3,184
DWIGHT RICHMOND DIRECTOR 2.00
Director
$2,500 $0 $2,500
SARAH WALLACE DIRECTOR 2.00
Director
$4,461 $0 $4,461
LEE ZALBEN DIRECTOR 2.00
Director
$2,500 $0 $2,500
WILLIAM LYNCH PRESIDENT 40.00
Officer
$523,820 $305,285 $829,105
LYSA TEAL SVP, FINANCE & PLANNING 40.00
Officer
$392,885 $69,037 $461,922
LAURA LOZADA VP, OPERATIONS 40.00
Key Emp
$213,094 $22,481 $235,575
DENISE PURCELL VP, RESOURCE DEVELOPMENT 40.00
Key Emp
$210,786 $37,790 $248,576
PHIL ROBINSON SVP, MEMBER DEVELOPMENT 40.00
Key Emp
$314,129 $81,937 $396,066
ANTHONY LEON VP, TECHNOLOGY 40.00
Key Emp
$221,553 $45,222 $266,775
LEANA SALAMAH SVP, MARKETING & COMMUNICATIONS 40.00
Key Emp
$209,793 $32,697 $242,490
DELIA MURPHY VP, RELATIONS 40.00
Key Emp
$175,614 $15,673 $191,287
AKI CIPRIANI VP, TALENT & CULTURE THRU OCT. 2023 40.00
Key Emp
$222,717 $32,491 $255,208
NANCY WEISS DIR. OF ACCOUNTING & CONTROLLER 40.00
Highest
$176,397 $61,326 $237,723
CLAUDINE BERTI DIR., RESEARCH & DATA ANALYTICS 40.00
Highest
$167,659 $65,290 $232,949
MICHELLE MCDONALD DIR., MEMBER & BUYER RELATIONS 40.00
Highest
$160,217 $53,594 $213,811
GRETCHEN VANESSELSTYN DIR., EDUCATION AND PROGRAM DEVELOPMENT 40.00
Highest
$158,780 $21,242 $180,022
TRESSA KENNEDY DIRECTOR, OPERATIONS 40.00
Highest
$154,755 $34,302 $189,057
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 No data No data No data No data
2023 $28,151,463 $25,856,963 $84,400,298 $2,294,500
2022 $31,371,451 $21,901,278 $75,601,880 $9,470,173
2021 $14,537,504 $14,569,021 $69,762,425 $-31,517
2020 $24,069,397 $22,812,110 $76,782,309 $1,257,287
2019 $30,229,641 $32,347,706 $75,124,596 $-2,118,065
2018 $29,945,722 $28,903,909 $71,351,106 $1,041,813
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