SECOND HARVEST HEARTLAND

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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

1976

Legal Domicile

Principal Officer

SARAH MOBERG

Phone

6514845117

Tax Period

2023-10-01 to 2024-09-30

SECOND HARVEST HEARTLAND, founded in 1976, is a major nonprofit in the Food, Agriculture & Nutrition sector that reported $309.2M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

SECOND HARVEST HEARTLAND'S MISSION IS TO END HUNGER TOGETHER. IN PARTNERSHIP WITH MORE THAN 1,000 FOOD SHELVES AND HUNGER-RELIEF PROGRAMS IN MINNESOTA AND WESTERN WISCONSIN, WE PROVIDED 145 MILLION MEALS TO NEIGHBORS LAST YEAR.

Program Service Accomplishments

Program 1

Expenses: $244,712,686 Revenue: $27,715,422

FOOD BANK: LAST YEAR, WE DISTRIBUTED 167 MILLION POUNDS OF FOOD. AS A FOOD BANK, WE WORK WITH PARTNER PROGRAMS IN 41 COUNTIES IN MINNESOTA AND 18 COUNTIES IN WESTERN WISCONSIN TO GET FOOD TO...

FOOD BANK: LAST YEAR, WE DISTRIBUTED 167 MILLION POUNDS OF FOOD. AS A FOOD BANK, WE WORK WITH PARTNER PROGRAMS IN 41 COUNTIES IN MINNESOTA AND 18 COUNTIES IN WESTERN WISCONSIN TO GET FOOD TO NEIGHBORS FACING HUNGER. WE PROVIDED, ON AVERAGE, 81% OF ALL FOOD DISTRIBUTED BY OUR PARTNERS.

Program 2

Expenses: $15,898,310

COMMUNITY OUTREACH: MORE THAN A FOOD BANK, WE'RE A LEADING PARTNER IN THE POLICIES AND PROGRAMS THAT WORK TO END HUNGER, AND WE'RE AN INNOVATOR IN THE AREAS WHERE FOOD CAN BE THE SOLUTION. KITCHEN...

COMMUNITY OUTREACH: MORE THAN A FOOD BANK, WE'RE A LEADING PARTNER IN THE POLICIES AND PROGRAMS THAT WORK TO END HUNGER, AND WE'RE AN INNOVATOR IN THE AREAS WHERE FOOD CAN BE THE SOLUTION. KITCHEN COALITION, OUR PREPARED MEALS INITIATIVE, PROVIDED 1,319,935 FULLY PREPARED MEALS ACROSS THE REGION, IN PARTNERSHIP WITH MORE THAN 100 COMMUNITY ORGANIZATIONS. FOODRX, OUR MEDICALLY TAILORED NUTRITION BOX PROGRAM, PROVIDED SERVICES TO SUPPORT A HEALTHY DIET AND IMPROVED HEALTH OF 14,946 INDIVIDUALS. OUR CARE CENTER TEAM PROCESSED OVER 15,500 NEW CLIENT REFERRALS AND ASSISTED OVER 7,700 HOUSEHOLDS WITH SNAP (SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM) APPLICATIONS AND RE-CERTIFICATIONS. (CONTINUED ON SCHEDULE O)(CONTINUED FROM PART III)WE PROVIDED OVER $1.4 MILLION IN GRANTS TO HUNGER-RELIEF PARTNERS TO HELP MEET INCREASED NEED AND ADDRESS FOOD ACCESS CHALLENGES DUE TO RISING GROCERY PRICES, INFLATION AND OTHER ISSUES FACING MINNESOTA FAMILIES.

Program 3

Expenses: $11,802,059

FOOD SOURCING: OF THE MORE THAN 167 MILLION POUNDS OF FOOD WE DISTRIBUTED LAST YEAR, 64% WAS FRESH FOOD (PRODUCE [40%], MEAT, DAIRY, AND BAKERY ITEMS). WE WORK TO SOURCE LOCALLY WHENEVER POSSIBLE...

FOOD SOURCING: OF THE MORE THAN 167 MILLION POUNDS OF FOOD WE DISTRIBUTED LAST YEAR, 64% WAS FRESH FOOD (PRODUCE [40%], MEAT, DAIRY, AND BAKERY ITEMS). WE WORK TO SOURCE LOCALLY WHENEVER POSSIBLE. LAST YEAR, WE SOURCED 10.4 MILLION POUNDS OF PRODUCE FROM LOCAL FARMERS, ALONG WITH 7.4 MILLION POUNDS OF DAIRY, INCLUDING 822,871 GALLONS OF MILK, AND 3.1 MILLION POUNDS OF MEAT AND EGGS FROM MINNESOTA PRODUCERS. ONE OF OUR LARGEST SOURCES OF FOOD COMES FROM OUR RETAIL FOOD RESCUE PROGRAM, WHICH SOURCED 45.3 MILLION POUNDS OF DONATED FOOD FROM 675 STORE PARTNERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $280,085,062

Program Service Revenue $27,715,422

Investment Income $1,761,337

Other Revenue $-320,317

TOTAL REVENUE $309,241,504

Expense Breakdown

Grants Paid $213,539,648

Salaries & Benefits $25,103,073

Fundraising Expenses $11,556,296

Program Expenses $278,567,400

Other Expenses $59,839,891

TOTAL EXPENSES $300,595,143

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,241,504	$260,459,497	+0.2%
Expenses	$300,595,143	$254,670,313	+0.2%
Net Income	$8,646,361	$5,789,184	+0.5%

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

352

Volunteers

16172

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

$2,649,105

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ABHI ANDLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAIR MOSLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ARI TAUER	BOARD MEMBER	1.00	Director	$0	$0	$0
BEN CAMPBELL	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS FINCH	BOARD MEMBER	1.00	Director	$0	$0	$0
COLLEEN MAY	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID CROSBY	BOARD MEMBER	1.00	Director	$0	$0	$0
DOMINICA TALLARICO	BOARD MEMBER	1.00	Director	$0	$0	$0
DR DAVID TILSTRA	BOARD MEMBER	1.00	Director	$0	$0	$0
IBRAHIMA DIOP	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON DERUSHA	BOARD MEMBER	1.00	Director	$0	$0	$0
JILL HUTCHINSON BOLLETTIERI	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
JODI BAHL	TREASURER	1.00	Officer Director	$0	$0	$0
JOEL D MATURI	BOARD MEMBER	1.00	Director	$0	$0	$0
KATIE BOYLAN	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTA NELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
MORGAN HELME	BOARD MEMBER	1.00	Director	$0	$0	$0
RICARDO FERNANDEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
RON J FELDMAN	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
SARITA PARIKH	BOARD MEMBER	1.00	Director	$0	$0	$0
SHEILAH STEWART	SECRETARY	1.00	Officer Director	$0	$0	$0
STACEY FOWLER-MEITTUNEN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
SUZI KIM SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
TAMMYLYNNE JONAS	BOARD MEMBER	1.00	Director	$0	$0	$0
TERI CROSBY	BOARD MEMBER	1.00	Director	$0	$0	$0
ALLISON O'TOOLE	CHIEF EXECUTIVE OFFICER	40.00	Officer	$759,141	$27,114	$786,255
ELIZABETH COOPER	CHIEF EXTERNAL RELATIONS OFFICER	40.00	Officer	$306,480	$32,438	$338,918
MEGAN MUSKE	CHIEF DEVELOPMENT OFFICER	40.00	Officer	$329,785	$16,561	$346,346
MICHAEL HOBAN	CHIEF FINANCIAL OFFICER	40.00	Officer	$385,660	$37,246	$422,906
SARAH MOBERG	CHIEF OPERATIONS OFFICER	40.00	Officer	$364,767	$29,491	$394,258
SARAH WAITE	CHIEF PEOPLE OFFICER	40.00	Officer	$331,676	$28,746	$360,422
BARBARA HENTGES	SR DIRECTOR OF DEVELOPMENT	40.00	Highest	$179,417	$11,516	$190,933
DANIEL J FUHRMAN	CONTROLLER	40.00	Highest	$154,385	$16,538	$170,923
DAVID E LASKEY	DIR ENTERPRISE EFF/FACILIT	40.00	Highest	$151,945	$24,562	$176,507
ROBIN MANTHIE	DIR OF KITCHEN COALITION	40.00	Highest	$155,388	$27,521	$182,909
ZACH RODVOLD	DIR OF PUBLIC AFFAIRS	40.00	Highest	$168,347	$26,111	$194,458

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	$309,241,504	$300,595,143	$123,126,842	$8,646,361
2023	$260,459,497	$254,670,313	$108,099,013	$5,789,184
2022	$225,815,554	$227,608,481	$100,651,861	$-1,792,927
2022	$225,815,554	$227,608,481	$100,651,861	$-1,792,927
2021	$221,947,314	$203,262,780	$115,779,386	$18,684,534
2020	$236,949,005	$184,150,172	$102,263,171	$52,798,833
2019	$161,802,097	$157,091,345	$51,714,126	$4,710,752
2018	$153,165,074	$147,816,090	$42,603,651	$5,348,984