FOODCHAIN INC

EIN: 454088193 501(c)(3) Food, Agriculture & Nutrition

LEXINGTON, KY

Total Revenue
$1,350,435
Total Expenses
$1,550,239
Total Assets
$875,797
Net Assets
$875,797
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
KY
Principal Officer
JAMES MASTIN
Phone
8592704222
Tax Period
2023-01-01 to 2023-12-31

FOODCHAIN INC, founded in 2011, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $1.4M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $1.6M exceeded revenue, resulting in a 15% operating deficit.

Mission

FOODCHAIN IS LOCATED IN THE HEART OF AN URBAN FOOD DESERT, WHICH CONSTITUTES A LOW-INCOME CENSUS TRACT THAT IS FURTHER THAN 1 MILE FROM A GROCERY STORE, WHERE RESIDENTS STRUGGLE WITH BOTH ACCESS TO NUTRITIOUS, WHOLESOME INGREDIENTS AS WELL AS THE FOOD LITERACY THAT ACCOMPANIES A DIET HIGH IN THESE COMPONENTS. AS A CONSEQUENCE, FOODCHAIN AIMS TO FORGE LINKS BETWEEN OUR COMMUNITY RESIDENTS AND FRESH FOOD WITH EDUCATION AND DEMONSTRATION OF WAYS IN WHICH FRESH FOOD CAN BE GROWN, ACQUIRED, AND/OR PREPARED IN ORDER TO IMPROVE THE LONG-TERM HEALTH OUTCOMES OF THIS HIGH-RISK POPULATION, ENCOURAGING A MORE ROBUST LOCAL FOOD ECONOMY, AND RESULTING IN A MORE RESILIENT COMMUNITY. OUR MODEL, WHICH WE BELIEVE IS REPLICABLE IN COMMUNITIES AROUND THE COUNTRY, COMBINES UNIQUE OPERATIONS, INLUDING AN INDOOR AQUAPONICS FARM AND A TEACHING AND PROCESSING KICHEN.

Program Service Accomplishments

Program 1
Expenses: $1,341,889 Revenue: $31,907

MANY OF FOODCHAIN'S NEIGHBORS RELY ON DOLLAR STORES AND CONVENIENCE MARTS FOR THEIR WEEKLY SHOPPING, WITH LIMITED FUNDS AND TRANSPORTATION AVAILABLE TO GET TO HIGHER QUALITY STORES WITH A GREATER...

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MANY OF FOODCHAIN'S NEIGHBORS RELY ON DOLLAR STORES AND CONVENIENCE MARTS FOR THEIR WEEKLY SHOPPING, WITH LIMITED FUNDS AND TRANSPORTATION AVAILABLE TO GET TO HIGHER QUALITY STORES WITH A GREATER ABUNDANCE OF NUTRITIOUS WHOLE INGREDIENTS. FURTHERMORE, WITH THE RELIANCE ON SNAP DOLLARS AND OTHER FEDERAL FOOD BENEFIT PROGRAMS, THE COMMUNITY HAS BECOME INCREASINGLY DEPENDENT ON HIGHLY-PROCESSED, SHELF-STABLE "JUNK" FOOD FOR THEIR DAILY MEALS, RESULTING IN GENERATIONAL DIET-RELATED ILLNESSES, INCLUDING HEART DISEASE, DIABETES, AND MORE. WHILE THIS HUNGER-OBESITY PARADOX IS IN PART A RESULT OF LIMITED FOOD ACCESS, IT HAS BEEN EXACERBATED BY A DECLINE IN FOOD LITERACY, WHERE FAMILIES NO LONGER HAVE THE KNOWLEDGE, EQUIPMENT, AND FAMILIARITY TO PREPARE MEALS FROM FRESH INGREDIENTS. FOODCHAIN AIMS TO ADDRESS THIS DEFICIENCY BY OFFERING EDUCATIONAL PROGRAMS TO TEACH COOKING SKILLS, EXPOSING FAMILIES TO A WIDER ARRAY OF CUISINES AND FLAVOR PROFILES, INSPIRING MORE ADVENTUROUS EATING AND KITCHEN CONFIDENCE. WITH THIS MINDSET, WE LAUNCHED NOURISH LEXINGTON AT THE START OF THE PANDEMIC TO PROVIDE SCRATCH-MADE NUTRITIOUS MEALS FOR FREE TO FOOD INSECURE INDIVIDUALS IN OUR COMMUNITY, ALONG WITH EDUCATIONAL MATERIALS, ALL WHILE INVESTING RESOURCES INTO OUR LOCAL FOOD ECONOMY THROUGH THE PRIORITIZATION OF LOCALLY FARMED INGREDIENTS, MADE BY AND DISTRIBUTED BY AREA PROFESSIONALS AAND BUSINESSES. OVERTIME, THIS FOOD ACCESS AND FLUENCY PROGRAM WILL CULTIVATE MORE SELF-SUFFICIENT HOUSEHOLDS, AS FOOD INDEPENDENCE LEADS TO GREATER WELFARE AND ECONOMIC SUSTAINABILITY OF A COMMUNITY.

Program 2
Revenue: $5,386

IN MANY URBAN COMMUNITIES LIKE OUR OWN, THERE ARE BOTH HIGH RATES OF UNEMPLOYMENT AND UNFILLED JOBS IN THE LOCAL FOOD ECONOMY. THEREFORE, FOODCHAIN AIMS TO BRIDGE THESE GAPS BY INFORMING RESIDENTS...

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IN MANY URBAN COMMUNITIES LIKE OUR OWN, THERE ARE BOTH HIGH RATES OF UNEMPLOYMENT AND UNFILLED JOBS IN THE LOCAL FOOD ECONOMY. THEREFORE, FOODCHAIN AIMS TO BRIDGE THESE GAPS BY INFORMING RESIDENTS ABOUT JOB PROSPECTS, TRAINING THEM WITH THE NECESSARY KNOWLEDGE FOR WORKING IN KITCHENS AND FOOD FACILITIES, AND EVEN ENCOURAGING THEM TO EMBARK ON ENTERPRISES OF THEIR OWN, BY GROWING OR FOUNDING FOOD BUSINESSES TO FILL THE VOIDS IN THE MARKETPLACE. TO DO THIS MOST EFFECTIVELY, WE'VE SOLIDIFIED DOZENS OF PARTNERSHIPS WITH OTHER ENTITIES, RANGING FROM SOCIAL SERVICE PROVIDERS WHO HELP REFER CLIENTS TO OUR SERVICES AND IDENTIFY NEEDS, ALL THE WAY TO CELEBRATED CHEFS AND ELECTED OFFICIALS WHO UNDERSTAND THE NEED FOR MORE CONFIDENT, PREPARED, AND ENABLED WORKFORCE. BECAUSE OF THESE RICH PARTNERSHIPS, WE WERE WELL-PREPARED AT THE ONSET OF COVID-19 IN 2020 TO PIVOT OUR OPERATIONS TO LINK TOGETHER THESE SAME RESOURCES IN A WAY TO BEST ENSURE FOOD INSECURE COMMUNITIES HAD ACCESS TO FRESHLY-MADE, WHOLESOME MEALS.

Program 3
Revenue: $2,697

WHILE ONE ANSWER TO THE LIMITED ACCESS OF OUR FRESH FOOD IS TO INCREASE ITS AVAILABILITY THROUGH RETAIL, FOODCHAIN BELIEVES IT IS EVEN MORE EMPOWERING TO START AT FOOD PRODUCTION. THEREFORE, WE...

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WHILE ONE ANSWER TO THE LIMITED ACCESS OF OUR FRESH FOOD IS TO INCREASE ITS AVAILABILITY THROUGH RETAIL, FOODCHAIN BELIEVES IT IS EVEN MORE EMPOWERING TO START AT FOOD PRODUCTION. THEREFORE, WE OPERATE OUR INDOOR, STATE-OF-THE-ART AQUAPONICS SYSTEM, GROWING FISH AND GREENS YEAR-ROUND IN A RECIRCULATING SYSTEM THAT REDUCES WASTE AND CONSERVES RESOURCES, WHILE ALSO GENERATING THOUSANDS OF POUNDS OF FOOD THAT CAN BE USED FOR REVENUE GENERATION AND NUTRITIONAL ACCESS. BY RUNNING OUR FARM AS A DEMONSTRATION FACILITY, HOSTING TOURS AND WORKSHOPS FOR THOUSANDS, WE WORK TO GET INDIVIDUALS MORE INVOLVED IN GROWING WHOLESOME FOOD, UNDERSTANDING WHERE FOOD COMES FROM, AND HOW THESE TECHNIQUES COULD BE REPLICATED ELSEWHERE TO INCREASE AGRICULTURL PRODUCTIVITY WHILE SUBSEQUENTLY MAKING FRESH FOOD AVAILABLE ALL YEAR-ROUND FOR ALL.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,309,905
Program Service Revenue $26,758
Investment Income $13,637
Other Revenue $135
TOTAL REVENUE $1,350,435

Expense Breakdown

Grants Paid $0
Salaries & Benefits $517,231
Fundraising Expenses $48,064
Program Expenses $1,341,889
Other Expenses $1,033,008
TOTAL EXPENSES $1,550,239

Year-over-Year Comparison

2023 2022 Change
Revenue $1,350,435 $1,197,009 +0.1%
Expenses $1,550,239 $1,141,496 +0.4%
Net Income $-199,804 $55,513 -4.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
21
Volunteers
1266

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
3
$116,700
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RYAN FOSTER DIRECTOR & TREASURER 0.25
Director
$0 $0 $0
OUITA MICHEL DIRECTOR 0.25
Director
$0 $0 $0
SHARON STONE DIRECTOR 0.25
Director
$0 $0 $0
SHAWN BURNS DIRECTOR & CHAIRPERSON 0.25
Officer Director
$0 $0 $0
SHAWN BLADES DIRECTOR 0.25
Director
$0 $0 $0
KA'SONDRA BROWN DIRECTOR 0.25
Director
$0 $0 $0
REBECCA SELF DIRECTOR & SECRETARY 0.25
Director
$0 $0 $0
ERINN CONNESS DIRECTOR 0.25
Director
$0 $0 $0
LINDSEY CLEM DIRECTOR 0.25
Director
$0 $0 $0
AGNES MARERRO DIRECTOR 0.25
Director
$0 $0 $0
BO MILBURN DIRECTOR 0.25
Director
$0 $0 $0
SCOTT WINKLER DIRECTOR 0.25
Director
$0 $0 $0
KRISTIN HUGHES CO-EXECUTIVE DIRECTOR 40.00
Officer
$57,473 $0 $57,473
LEANDRA FORMAN CO-EXECUTIVE DIRECTOR 40.00
Officer
$59,227 $0 $59,227
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 $1,350,435 $1,550,239 $875,797 $-199,804
2022 $1,197,009 $1,141,496 $1,082,898 $55,513
2021 $1,214,040 $1,143,016 $1,028,953 $71,024
2020 $1,277,355 $1,084,754 $960,370 $192,601
2019 $487,174 $331,808 $759,916 $155,366
2018 $332,006 $323,972 $603,355 $8,034
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