International Foodservice Manufact… - Form 990 Financial Data

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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

1954

Legal Domicile

Principal Officer

Jennifer Tarulis

Phone

3125404400

Tax Period

2023-01-01 to 2023-12-31

International Foodservice Manufacturers Association, founded in 1954, is a community nonprofit that reported $8.4M in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $7.6M left a modest 10% surplus.

Mission

ENABLE OUR MEMBER COMMUNITY TO FOCUS ON CRITICAL ISSUES AFFECTING THEIR BUSINESSES AND THE INDUSTRY - IFMA BOARD HAS SET 2023 STRATEGIC IMPERATIVES; CREATE CONSUMER DRIVEN VIEW OF FOODSERVICE, CREATE RATIONALE INSIGHTS & BEST PRACTICES AND DRIVE LEARNINGS THROUGH CONNECTIVITY FORUMS.

Program Service Accomplishments

Program 1

PROVIDE EDUCATIONAL AND TRAINING PROGRAM TO THE MEMBERSHIP AND FOODSERVICE INDUSTRY.

Program 2

PROVIDE TRADE MANUALS, PUBLICATIONS, AND MARKET RESEARCH TO MEMBERSHIP AND FOODSERVICE INDUSTRY.

Program 3

DEVELOPMENT MEMBER SERVICES, PRODUCE COMMUNICATION AND BEST PRACTICES ABOUT THE MEMBERSHIP AND FOODSERVICE INDUSTRY.

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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 $0

Program Service Revenue $7,694,271

Investment Income $675,194

Other Revenue $0

TOTAL REVENUE $8,369,465

Expense Breakdown

Grants Paid $24,148

Salaries & Benefits $3,571,712

Fundraising Expenses $0

Other Expenses $3,958,369

TOTAL EXPENSES $7,554,229

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,369,465	$6,040,481	+0.4%
Expenses	$7,554,229	$7,664,639	0.0%
Net Income	$815,236	$-1,624,158	-1.5%

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

Volunteers

350

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

$991,200

Total Directors

$641,675

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP KAFARAKIS	President & CEO	40.0	Officer Director	$591,175	$50,500	$641,675
JENNIFER TARULIS	CHIEF FINANCIAL OFFICER	40.0	Officer	$310,226	$39,299	$349,525
MICHAEL SCHWARTZ	SENIOR VICE PRESIDENT	40.0	Highest	$246,896	$37,957	$284,853
HELEN HEILICH	VICE PRESIDENT	40.0	Highest	$189,546	$28,889	$218,435
ALVARO ROJAS	VICE PRESIDENT	40.0	Highest	$177,860	$26,282	$204,142
Charlie Mcconnell	SENIOR DIRECTOR	40.0	Highest	$175,218	$26,283	$201,501
DENISE FOSTER	DIRECTOR	40.0	Highest	$148,820	$22,323	$171,143
HERB RING	CHAIRPERSON	0.5	Officer Director	$0	$0	$0
BEN WEXLER	FIRST VICE CHAIRPERSON	0.5	Officer Director	$0	$0	$0
TERI TRULLINGER	VICE CHAIRPERSON	0.5	Officer Director	$0	$0	$0
PAUL EDMONDSON	VICE CHAIRPERSON	0.5	Officer Director	$0	$0	$0
DAVID RIZLEY	TREASURER	0.5	Officer Director	$0	$0	$0
NANETTE LUNINGHAM	MEMBERSHIP CHAIRPERSON	0.5	Officer Director	$0	$0	$0
HUGH ROTH	PAST CHAIRMAN	0.5	Officer Director	$0	$0	$0
LUIS ANDRADE	DIRECTOR	0.5	Director	$0	$0	$0
TOM BELL	DIRECTOR	0.5	Director	$0	$0	$0
KRISTIN BIRD	DIRECTOR	0.5	Director	$0	$0	$0
ERIC BLUMENTHAL	DIRECTOR	0.5	Director	$0	$0	$0
ERIN BUNTIN	DIRECTOR	0.5	Director	$0	$0	$0
GREG COCCHIARELLA	DIRECTOR	0.5	Director	$0	$0	$0
KELLY CROUSE	DIRECTOR	0.5	Director	$0	$0	$0
JOE CUSICK	DIRECTOR	0.5	Director	$0	$0	$0
DON DAVIS	DIRECTOR	0.5	Director	$0	$0	$0
CHRISTOS DINOPOULOS	DIRECTOR	0.5	Director	$0	$0	$0
OLIVER KELLY	DIRECTOR	0.5	Director	$0	$0	$0
MARY KLAKULAK-SCLAFANI	DIRECTOR	0.5	Director	$0	$0	$0
LAUREN LOPEZ	DIRECTOR	0.5	Director	$0	$0	$0
ART MICHAELS	DIRECTOR	0.5	Director	$0	$0	$0
BEAU NETZER	DIRECTOR	0.5	Director	$0	$0	$0
MARK OURADA	DIRECTOR	0.5	Director	$0	$0	$0
BOB PIERCE	DIRECTOR	0.5	Director	$0	$0	$0
ASHLEY PEEPLES	DIRECTOR	0.5	Director	$0	$0	$0
BARBARA POWELL	DIRECTOR	0.5	Director	$0	$0	$0
TOM RUPKEY	DIRECTOR	0.5	Director	$0	$0	$0
TOM RUSZKOWSKI	DIRECTOR	0.5	Director	$0	$0	$0
IAN ROBERTS	DIRECTOR	0.5	Director	$0	$0	$0
FLEUR VELDHOVEN	DIRECTOR	0.5	Director	$0	$0	$0
TIM WAYNE	DIRECTOR	0.5	Director	$0	$0	$0

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	$8,369,465	$7,554,229	$7,388,016	$815,236
2022	$6,040,481	$7,664,639	$6,199,311	$-1,624,158
2021	$7,253,013	$6,876,357	$7,373,988	$376,656
2020	$5,536,286	$4,951,767	$6,880,607	$584,519
2019	$6,046,438	$6,486,108	$5,348,808	$-439,670
2018	$6,108,512	$6,226,083	$5,664,493	$-117,571
2017	$7,640,185	$6,487,224	$5,796,709	$1,152,961

International Foodservice Manufacturers Association