FOOD BANK OF SOUTH JERSEY INC

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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

1985

Legal Domicile

Principal Officer

FREDERICK C WASIAK

Phone

8566624884

Tax Period

2024-01-01 to 2024-12-31

FOOD BANK OF SOUTH JERSEY INC, founded in 1985, is a mid-sized nonprofit that reported $50.5M in total revenue in fiscal year 2024. Expenses of $49.0M left a modest 3% surplus.

Mission

THE FOOD BANK OF SOUTH JERSEY EXISTS TO PROVIDE AN IMMEDIATE SOLUTION TO THE URGENT PROBLEM OF HUNGER BY PROVIDING FOOD TO PEOPLE IN NEED, TEACHING THEM TO EAT NUTRITIOUSLY, AND HELPING THEM TO FIND SUSTAINABLE WAYS TO IMPROVE THEIR LIVES.

Program Service Accomplishments

Program 1

Expenses: $45,914,595 Revenue: $504,880

THE FOOD BANK OF SJ OPERATES A DONATED FOOD CENTER THAT DISTRIBUTES FOOD TO QUALIFYING NOT-FOR-PROFIT ORGANIZATIONS AND AGENCIES WHO DISTRIBUTE FOOD TO FOOD INSECURE INDIVIDUALS. DURING 2024 THE FOOD BANK DISTRIBUTED OVER 23.9 MILLION POUNDS OF FOOD. THE FOOD BANK ACCOMPLISHES THIS THROUGH PROGRAM SERVICES WHICH IS ITS CORE PROGRAM THROUGH WHICH THE ORGANIZATION PURCHASES AND SOLICITS SURPLUS FOOD EACH YEAR FROM LOCAL, REGIONAL AND NATIONAL FOOD SOURCES. MORE THAN 200 EMERGENCY FEEDING PROGRAMS ACCESS THIS FOOD DAILY TO MEET THE FOOD NEEDS OF THE PEOPLE LIVING IN FOOD INSECURE HOUSEHOLDS ACROSS THE 4 COUNTIES IT SERVES. THE EMERGENCY FOOD ASSISTANCE PROGRAM IS FUNDED BY THE STATE OF NEW JERSEY THROUGH DISTRIBUTION OF FUNDS FOR THE PURCHASE OF HEALTHY AND NUTRITIOUS FOODS TO FEED PEOPLE AFFECTED BY HUNGER. FBSJ DISTRIBUTED MORE THAN 19 MILLION MEALS IN 2024, THROUGH DIRECT DISTRIBUTIONS AND ITS NETWORK OF MORE THAN 300 PARTNER AGENCIES, AND POSITIVELY IMPACTED OVER 185,000 SOUTH JERSEY NEIGHBORS.

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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 $49,378,035

Program Service Revenue $493,502

Investment Income $371,674

Other Revenue $277,606

TOTAL REVENUE $50,520,817

Expense Breakdown

Grants Paid $407,871

Salaries & Benefits $7,540,281

Fundraising Expenses $2,192,505

Program Expenses $45,914,595

Other Expenses $41,036,837

TOTAL EXPENSES $48,984,989

Year-over-Year Comparison

	2024	2023	Change
Revenue	$50,520,817	$48,610,335	+0.0%
Expenses	$48,984,989	$44,336,489	+0.1%
Net Income	$1,535,828	$4,273,846	-0.6%

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

104

Volunteers

4167

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

$802,836

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDSEY ENWRIGHT	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MATHEIS	SECRETARY	1.00	Officer Director	$0	$0	$0
SUZANNE GHEE	CHAIR	1.00	Officer Director	$0	$0	$0
ALTHEIA LEDUC	TRUSTEE	1.00	Director	$0	$0	$0
JEFF HAYMAN	TRUSTEE	1.00	Director	$0	$0	$0
CAROL STROCK	TRUSTEE	1.00	Director	$0	$0	$0
NEAL D WALTERS	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS A SCHAEFFER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PHILIP J BARTHOLOMEW	TREASURER	1.00	Officer Director	$0	$0	$0
FRANK C PLUM JR	TRUSTEE	1.00	Director	$0	$0	$0
DARLENE TRAPPIER	TRUSTEE	1.00	Director	$0	$0	$0
GEORGIA DENNIS	TRUSTEE	1.00	Director	$0	$0	$0
MARIA SIEGEL	TRUSTEE	1.00	Director	$0	$0	$0
KIM ANDREOLA	TRUSTEE	1.00	Director	$0	$0	$0
DESIREE MARTINS	TRUSTEE	1.00	Director	$0	$0	$0
JANET KOTSAKIS	CPO	40.00	Officer	$101,722	$12,848	$114,570
FREDERICK C WASIAK	CEO	40.00	Officer	$228,304	$7,259	$235,563
CHARLIE HOSIER	COO	40.00	Officer	$145,308	$9,204	$154,512
LAVINIA AWOSANYA	CDO	40.00	Officer	$148,317	$4,705	$153,022
KATHLEEN HORTON	CFO	40.00	Officer	$131,367	$13,802	$145,169
GREGORY LODER	DIRECTOR OF MARKETING & ADVOCACY	40.00	Highest	$102,000	$12,749	$114,749
KIMBERLY HILL	SENIOR DIRECTOR OF HEALTH AND WELLNESS	40.00	Highest	$101,954	$10,542	$112,496

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	$50,520,817	$48,984,989	$26,047,335	$1,535,828
2023	$48,610,335	$44,336,489	$23,941,411	$4,273,846
2022	$36,941,915	$35,990,976	$22,110,202	$950,939
2021	$35,639,314	$33,015,491	$19,506,805	$2,623,823
2020	$42,494,630	$35,328,296	$17,873,816	$7,166,334
2019	$24,479,782	$23,549,391	$8,806,045	$930,391
2018	$18,288,330	$17,805,555	$8,152,318	$482,775