THE BANQUET

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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

2004

Legal Domicile

Principal Officer

KURT VAN KALSBEEK

Phone

6053357066

Tax Period

2023-07-01 to 2024-06-30

THE BANQUET, founded in 2004, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $1.8M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Net assets of $6.5M represent 44 months of operating reserves.

Mission

THE BANQUET IS A FEEDING MINISTRY THAT SERVES HUNGRY PEOPLE IN THE SIOUX FALLS COMMUNITY IN THE SPIRIT OF DIGNITY AND RESPECT, WHICH ORGANIZES VOLUNTEER GROUPS TO PLAN, PURCHASE, PREPARE, AND SERVICE MEALS TO THOSE IN NEED. THE BANQUET ALSO PROVIDES A SAFE PLACE WHERE PEOPLE CAN GATHER TO RECEIVE FOOD FOR THE BODY AND SOUL.

Program Service Accomplishments

Program 1

Expenses: $1,462,734

THE BANQUET'S PRIMARY FOCUS IS SERVING MEALS TO THOSE IN NEED. 174,485 MEALS WERE SERVED DURING THE FISCAL YEAR ENDED 6/30/24. 13,368 OF THOSE MEALS WERE SERVED TO CHILDREN. 6,892 BACKPACKS FILLED...

THE BANQUET'S PRIMARY FOCUS IS SERVING MEALS TO THOSE IN NEED. 174,485 MEALS WERE SERVED DURING THE FISCAL YEAR ENDED 6/30/24. 13,368 OF THOSE MEALS WERE SERVED TO CHILDREN. 6,892 BACKPACKS FILLED WITH SCHOOL SUPPLIES WERE DISTRIBUTED TO SCHOOL CHILDREN FOR THE 2023-2024 SCHOOL YEAR. 700 CARE PACKETS, LAUNDRY DETERGENT, DISH SHOP, AND TOILET PAPER WERE GIVEN OUT DURING THE 2023 CHRISTMAS SEASON.

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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 $1,657,775

Program Service Revenue $0

Investment Income $101,724

Other Revenue $0

TOTAL REVENUE $1,759,499

Expense Breakdown

Grants Paid $72,409

Salaries & Benefits $721,107

Fundraising Expenses $0

Program Expenses $1,462,734

Other Expenses $917,628

TOTAL EXPENSES $1,711,144

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,759,499	$1,965,463	-0.1%
Expenses	$1,711,144	$1,610,755	+0.1%
Net Income	$48,355	$354,708	-0.9%

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

19400

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEIDI BINSTOCK	FORMER PRESI	N/A	Officer Director	$0	$0	$0
TERESA DEBOER	SECRETARY	N/A	Officer Director	$0	$0	$0
PAUL FARMER	BOARD MEMBER	N/A	Director	$0	$0	$0
STEVE FIORELLO	BOARD MEMBER	N/A	Director	$0	$0	$0
JEFF GARDEN	BOARD MEMBER	N/A	Director	$0	$0	$0
KC HERMAN	BOARD MEMBER	N/A	Director	$0	$0	$0
JARED HOHN	BOARD MEMBER	N/A	Director	$0	$0	$0
BARRY HOOGLAND	BOARD MEMBER	N/A	Director	$0	$0	$0
KEVIN JORDANGER	BOARD MEMBER	N/A	Director	$0	$0	$0
KURT VAN KALSBEEK	PRESIDENT	N/A	Officer Director	$0	$0	$0
CHRIS MADSEN	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
CRAIG SCHELSKE	TREASURER	N/A	Officer Director	$0	$0	$0
TEAGAN SCHOEPP	BOARD MEMBER	N/A	Director	$0	$0	$0
JEFF SHEETS	BOARD MEMBER	N/A	Director	$0	$0	$0
TAMERA JERKE-LIESINGER	EXECUTIVE DI	N/A	Officer	$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
2025	No data	No data	No data	No data
2024	$1,759,499	$1,711,144	$6,612,984	$48,355
2023	$1,965,463	$1,610,755	$6,311,021	$354,708
2022	$1,780,545	$1,517,860	$5,782,531	$262,685
2021	$1,807,308	$1,444,623	$5,871,026	$362,685
2020	$1,985,831	$1,395,934	$5,210,334	$589,897
2019	$2,691,397	$1,505,187	$4,666,642	$1,186,210
2018	$2,251,551	$1,323,666	$3,457,668	$927,885