VEAP Inc

EIN: 416175999 501(c)(3)

Bloomington, MN

Total Revenue
$14,594,986
Total Expenses
$14,965,133
Total Assets
$7,667,279
Net Assets
$4,123,357
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
MN
Principal Officer
Kari Thompson
Phone
9529558311
Tax Period
2024-01-01 to 2024-12-31

VEAP Inc, founded in 1973, is a mid-sized nonprofit that reported $14.6M in total revenue in fiscal year 2024.

Mission

VEAP is a 501(c)(3) non-profit, multi-service, human service organization with the mission of "Together, we create pathways to stronger, more hopeful, communities through access to healthy food, housing stability and supportive services."

Program Service Accomplishments

Program 1
Expenses: $12,228,993 Revenue: $12,700

VEAP's Food and Basic Needs Program provides access to healthy, fresh foods for households experiencing food-insecurity. The program includes an on-site food pantry, mobile food pantry, student...

Read more

VEAP's Food and Basic Needs Program provides access to healthy, fresh foods for households experiencing food-insecurity. The program includes an on-site food pantry, mobile food pantry, student hunger initiative (supplemental food for school-age children), and food deliveries to seniors or individuals with mobility barriers. VEAP operates one of the largest food pantries in the state with 256,175 total Food and Basic Needs program services provided, including 33,724 express packs (one, 50-pound bag of groceries for walk-in visitors) in 2024. Of the nearly 4.7 million pounds of food that was distributed, over 40% was fresh fruits and vegetables. VEAP offers fresh fruits and vegetables, dairy, deli, bakery, and a variety of food choices that include protein, meats, canned goods, and non-perishable items. Participants may visit the on-site food pantry/mobile pantry as needed, typically 1-2 times per month.VEAP addresses transportation barriers to healthy food access by delivering food to 11,613 seniors or qualifying individuals. The mobile food pantry provides 51,942 individuals with access to healthy foods at designated sites in areas of high need located throughout VEAP's service area. Food is provided throughout the school year to 13,744 students in the Edina, Richfield, and Bloomington School Districts. VEAP's state-of-the-art commercial kitchen serves as a business incubation site for start-up businesses that produce food for market wholesale.

Program 2
Expenses: $1,525,748 Revenue: $62,514

VEAP's Social Services Program provides caring, professional support to households experiencing food-insecurity, high-risk of eviction or homelessness, and financial crisis. Through a holistic...

Read more

VEAP's Social Services Program provides caring, professional support to households experiencing food-insecurity, high-risk of eviction or homelessness, and financial crisis. Through a holistic service delivery with housing stability at the center of our focus, services include housing advocacy, case management, referrals, resource navigation and coordination, and emergency financial assistance in the form of rent, deposit, or utility assistance and other assistance to maintain housing or employment. In 2024, VEAP provided $630,266 in financial assistance, including $596,225 for rent or utilities, $22,883 for rental deposits, $6,268 for transportation assistance, and $4,890 in grocery gift cards and other essential basic needs.Participants work with Social Services using a strengths-based, case management approach to prevent homelessness and stabilize income. Social Services staff meets with participants to complete an individualized assessment and provide financial assistance, supportive services, and navigation of community resources to help regain stability quickly.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,124,325
Program Service Revenue $75,214
Investment Income $86,578
Other Revenue $308,869
TOTAL REVENUE $14,594,986

Expense Breakdown

Grants Paid $11,350,560
Salaries & Benefits $2,231,180
Fundraising Expenses $514,524
Program Expenses $13,754,741
Other Expenses $1,383,393
TOTAL EXPENSES $14,965,133

Year-over-Year Comparison

2024 2023 Change
Revenue $14,594,986 $14,609,967 0.0%
Expenses $14,965,133 $14,448,577 +0.0%
Net Income $-370,147 $161,390 -3.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
22
Independent Members
22
Employees
33
Volunteers
1119

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
7
$208,676
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kari Thompson CEO 40.00
Officer
$187,422 $21,254 $208,676
Ross Widmoyer President 5.00
Officer Director
$0 $0 $0
Dion Evans Vice President 1.50
Officer Director
$0 $0 $0
Joe Bauer Treasurer 3.00
Officer Director
$0 $0 $0
Molly McCormick Co-Secretary 2.50
Officer Director
$0 $0 $0
Shannon McCormick Co-Secretary 2.50
Officer Director
$0 $0 $0
Brianna Williamson Co-Secretary 2.50
Officer Director
$0 $0 $0
Margaret Brandt Member 1.00
Director
$0 $0 $0
Katie Burns Member 1.00
Director
$0 $0 $0
Anne Clarrissimeaux Member 1.00
Director
$0 $0 $0
Jim DeBuse Member 1.00
Director
$0 $0 $0
Josh Gerber Member 1.00
Director
$0 $0 $0
Tai Giwa Member 1.00
Director
$0 $0 $0
Sara Hong Member 1.00
Director
$0 $0 $0
Rebecca Johnson Member 1.00
Director
$0 $0 $0
Shawn Nelson Member 1.00
Director
$0 $0 $0
Laura Perrault Member 1.00
Director
$0 $0 $0
Jeff Rodgers Member 1.00
Director
$0 $0 $0
Megan Rogers Member 1.00
Director
$0 $0 $0
Corinne Shepherd Member 1.00
Director
$0 $0 $0
Jennifer Siedow Member 1.00
Director
$0 $0 $0
Michelle Swanson Member 1.00
Director
$0 $0 $0
Chris Westergaard Member 1.00
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 $14,594,986 $14,965,133 $7,667,279 $-370,147
2023 $14,609,967 $14,448,577 $8,006,329 $161,390
2022 $16,186,207 $16,223,392 $7,922,083 $-37,185
2021 $16,891,199 $17,105,053 $8,119,973 $-213,854
2020 $17,321,534 $15,142,965 $8,523,564 $2,178,569
2019 $11,315,176 $10,748,149 $6,379,309 $567,027
2018 $9,379,602 $9,397,411 $5,911,455 $-17,809
Explore More Nonprofits
Top 100 Nonprofits in Minnesota Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare VEAP Inc with other nonprofits in Minnesota and across the country.