CHANNEL ONE 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

1980

Legal Domicile

Principal Officer

VIRGINIA WITHERSPOON

Phone

5072872350

Tax Period

2024-07-01 to 2025-06-30

CHANNEL ONE INC, founded in 1980, is a mid-sized nonprofit in the Food, Agriculture & Nutrition sector that reported $26.1M in total revenue in fiscal year 2024.

Mission

AT CHANNEL ONE REGIONAL FOOD BANK, OUR MISSION IS TO STRENGTHEN FOOD ACCESS AND BUILD HEALTHY COMMUNITIES WITH A VISION THAT EVERY COMMUNITY IN OUR REGION IS FOOD SECURE.

Program Service Accomplishments

Program 1

Expenses: $22,613,396 Revenue: $2,123,492

CHANNEL ONE FOOD BANK AS A PARTNER FOOD BANK OF THE FEEDING AMERICA NETWORK, THE FOOD BANK SOLICITS, RECEIVES, INVENTORIES AND DISTRIBUTES FOOD AND OTHER PRODUCTS TO 126 PROGRAMS OPERATED BY 79...

CHANNEL ONE FOOD BANK AS A PARTNER FOOD BANK OF THE FEEDING AMERICA NETWORK, THE FOOD BANK SOLICITS, RECEIVES, INVENTORIES AND DISTRIBUTES FOOD AND OTHER PRODUCTS TO 126 PROGRAMS OPERATED BY 79 NONPROFIT 501(C)(3) AGENCY PARTNERS AND 130 PROGRAMS OPERATED BY 92 NONPROFIT 501(C)(3) AGENCIES FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, RESPECTIVELY, WHO DISTRIBUTE DIRECTLY TO PEOPLE FACING HUNGER IN OUR 14-COUNTY SERVICE REGION.

Program 2

Expenses: $2,385,999 Revenue: $0

CHANNEL ONE FOOD SHELF A CHOICE FOOD SHELF OFFERING SHOPPING AND DELIVERY TO ELIGIBLE INDIVIDUALS AND HOUSEHOLDS. THE FOOD SHELF FOLLOWS MINNESOTA'S TEFAP (THE EMERGENCY FOOD ASSISTANCE PROGRAM)...

CHANNEL ONE FOOD SHELF A CHOICE FOOD SHELF OFFERING SHOPPING AND DELIVERY TO ELIGIBLE INDIVIDUALS AND HOUSEHOLDS. THE FOOD SHELF FOLLOWS MINNESOTA'S TEFAP (THE EMERGENCY FOOD ASSISTANCE PROGRAM) ELIGIBILITY GUIDELINES. APPROXIMATELY 12,775 AND 11,275 UNIQUE HOUSEHOLDS WERE SERVED FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, RESPECTIVELY. IN TOTAL, THERE WERE 118,373 AND 100,001 HOUSEHOLD VISITS TO THE FOOD SHELF FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, RESPECTIVELY.

Program 3

Expenses: $975,860 Revenue: $0

COMMODITY SUPPLEMENTAL FOOD PROGRAM (CSFP) PROVIDES NUTRITIONALLY BALANCED, SUPPLEMENTAL USDA FOOD PACKAGES TO INCOME ELIGIBLE SENIORS MONTHLY. CHANNEL ONE DISTRIBUTES THIS PROGRAM THROUGHOUT THE 13 COUNTY SERVICE AREA IN MINNESOTA. IN TOTAL, CHANNEL ONE DISTRIBUTED 11,304 AND 8,885 PACKAGES FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, RESPECTIVELY.

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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 $23,897,348

Program Service Revenue $2,123,492

Investment Income $111,601

Other Revenue $-10,847

TOTAL REVENUE $26,121,594

Expense Breakdown

Grants Paid $23,683,231

Salaries & Benefits $2,454,201

Fundraising Expenses $831,732

Program Expenses $26,589,132

Other Expenses $1,781,880

TOTAL EXPENSES $27,919,312

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,121,594	$24,944,529	+0.0%
Expenses	$27,919,312	$25,639,945	+0.1%
Net Income	$-1,797,718	$-695,416	+1.6%

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

Volunteers

1293

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

$135,171

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOLDEN LEWIS	BOARD CHAIR-PART YEAR	0.30	Officer Director	$0	$0	$0
PAUL MACKIN	BOARD CHAIR	0.30	Officer Director	$0	$0	$0
MELISSA DICKISON	VICE CHAIR	0.30	Officer Director	$0	$0	$0
TOM LEIMER	TREASURER	0.30	Officer Director	$0	$0	$0
ANGIE AMES	DIRECTOR	0.30	Director	$0	$0	$0
SARA CARLSON	DIRECTOR	0.30	Director	$0	$0	$0
BEN MULHOLLAND	DIRECTOR	0.30	Director	$0	$0	$0
TAMIM RAJJO	DIRECTOR	0.30	Director	$0	$0	$0
ANDY DANIELSEN	DIRECTOR	0.30	Director	$0	$0	$0
GEMA ALVARADO-GUERRERO	DIRECTOR	0.30	Director	$0	$0	$0
STEPHANIE FISHER	DIRECTOR	0.30	Director	$0	$0	$0
ANTHONY BROERSMA	DIRECTOR	0.30	Director	$0	$0	$0
BENJAMIN BERGSTROM	DIRECTOR-PART YEAR	0.30	Director	$0	$0	$0
MICHAEL ZIRBES	DIRECTOR-PART YEAR	0.30	Director	$0	$0	$0
ROGER HOFER	DIRECTOR-PART YEAR	0.30	Director	$0	$0	$0
RYAN RINGEL	DIRECTOR-PART YEAR	0.30	Director	$0	$0	$0
TYLER YULE	DIRECTOR-PART YEAR	0.30	Director	$0	$0	$0
VIRGINIA WITHERSPOON	EXECUTIVE DIRECTOR	40.00	Officer	$129,612	$5,559	$135,171

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
2025	$26,121,594	$27,919,312	$7,103,767	$-1,797,718
2024	No data	No data	No data	No data
2023	$20,258,959	$20,241,527	$9,489,071	$17,432
2022	$17,204,714	$18,572,524	$9,565,800	$-1,367,810
2021	$23,904,084	$22,057,453	$10,900,527	$1,846,631
2020	$21,788,814	$18,892,272	$9,424,293	$2,896,542
2019	$16,723,300	$16,329,398	$5,992,370	$393,902
2018	$17,217,508	$17,533,279	$5,575,704	$-315,771