THE FOOD BANK NETWORK OF SOMERSET COUNTY INC (EIN 222405550) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

GORDON S WHITE III

Phone

7325601813

Tax Period

2024-01-01 to 2024-12-31

THE FOOD BANK NETWORK OF SOMERSET COUNTY INC, founded in 1982, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $5.2M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $4.9M left a modest 7% surplus.

Mission

THE ORGANIZATION PROVIDES FOOD, EMERGENCY RELIEF ASSISTANCE TO NEEDY PERSONS IN SOMERSET COUNTY, NEW JERSEY.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,091,717

Program Service Revenue $0

Investment Income $146,365

Other Revenue $1,180

TOTAL REVENUE $5,239,262

Expense Breakdown

Grants Paid $4,199,126

Salaries & Benefits $317,275

Fundraising Expenses $0

Program Expenses $4,632,784

Other Expenses $349,033

TOTAL EXPENSES $4,865,434

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,239,262	$4,530,221	+0.2%
Expenses	$4,865,434	$4,356,373	+0.1%
Net Income	$373,828	$173,848	+1.2%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

100

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

Total Directors

Key Employees

$110,240

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GORDON S WHITE III	PRESIDENT	5.00	Officer Director	$0	$0	$0
SUMITA SAINI	TREASURER	5.00	Officer Director	$0	$0	$0
CRESS DOMINIC	SECRETARY	2.00	Director	$0	$0	$0
BRYAN WATKINSON	MEMBER-AT-LARGE	2.00	Director	$0	$0	$0
CHRIS YEN	MEMBER-AT-LARGE	2.00	Director	$0	$0	$0
SHEILA LABREW	MEMBER-AT-LARGE	2.00	Director	$0	$0	$0
MIKE MAHONEY	MEMBER-AT-LARGE	2.00	Director	$0	$0	$0
STEVE KATZ	EXECUTIVE DIRECTOR	40.00	Key Emp	$110,240	$0	$110,240

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	$5,239,262	$4,865,434	$3,160,726	$373,828
2024	No data	No data	No data	No data
2023	$4,530,221	$4,356,373	$2,796,781	$173,848
2022	$2,914,417	$3,067,638	$2,587,947	$-153,221
2021	$2,836,590	$2,438,265	$2,730,710	$398,325
2020	$2,883,980	$1,800,123	$2,331,742	$1,083,857
2019	$915,027	$952,624	$1,247,285	$-37,597
2018	$1,074,844	$1,001,010	$1,283,141	$73,834

THE FOOD BANK NETWORK OF SOMERSET COUNTY INC