THE GOOD ACRE

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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

2014

Legal Domicile

Principal Officer

THERESA MCCORMICK

Phone

6514937158

Tax Period

2023-01-01 to 2023-12-31

THE GOOD ACRE, founded in 2014, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $2.1M in total revenue in fiscal year 2023. Revenue surged 81% from the prior year, signaling strong growth momentum.

Mission

WE CONNECT AND STRENGTHEN FARMERS, FOOD MAKERS, AND COMMUNITIES THROUGH GOOD FOOD. THE GOOD ACRE IS THE LARGEST NONPROFIT FOOD HUB IN MINNESOTA. WE PLAY A CRITICAL ROLE IN CREATING MARKET ACCESS FOR FARMERS IN OUR REGION. FOR 2023, WITH 1.9 MILLION OF LOCAL FOOD PURCHASED FROM OVER 190 LOCAL FARMERS AND MAKERS IN OUR FOOD HUB.

Program Service Accomplishments

Program 1

Expenses: $829,850 Revenue: $481,094

OUR GROWER SUPPORT PROGRAM CONNECTED WITH 132 FARMERS ACROSS ALL PROGRAMMING. WE CONTINUED LEAFF FOR THE FOURTH YEAR, SUPPORTING 65 FARMS AND DONATING MORE THAN 180,000 POUNDS OF LOCALLY GROWN...

OUR GROWER SUPPORT PROGRAM CONNECTED WITH 132 FARMERS ACROSS ALL PROGRAMMING. WE CONTINUED LEAFF FOR THE FOURTH YEAR, SUPPORTING 65 FARMS AND DONATING MORE THAN 180,000 POUNDS OF LOCALLY GROWN PRODUCE TO HUNGER RELIEF ORGANIZATIONS. WE COMPLETED 60 FARM VISITS TO DELIVER IN-PERSON TECHNICAL ASSISTANCE ON FARM MANAGEMENT AND WHOLESALE READINESS. 98% OF THE FARMERS IN THE LEAFF PROGRAM SAID THAT THE PROGRAM ALLOWED THEM TO REDUCE OR ELIMINATE THE AMOUNT OF WASTE PRODUCED ON THEIR FARMS.

Program 2

Expenses: $482,002

87% OF THE PRODUCE SOURCED THROUGH OUR MARKET ACCESS PROGRAM WAS FROM BIPOC FARMERS, CONSIDERABLY ENHANCING ECONOMIC OPPORTUNITY FOR EMERGING FARMERS. WE PURCHASED MORE THAN 5,000 IN PRODUCE FROM 57 FARMS AND 10,000 OR MORE FROM 65 FARMS. 70% OF THE FOOD SOURCED WAS FOR FOOD ACCESS PARTNERSHIPS, INCLUDING K-12 SCHOOLS, FOOD BANKS, HIGHER EDUCATION AND HEALTHCARE ORGANIZATIONS, ENSURING THAT THE MAJORITY OF PURCHASING NOT ONLY BENEFITTED FARMERS, BUT THE BROADER COMMUNITY. WE USED THE COLLECTIVE BUYING POWER OF 620 COMMUNITY SUPPORTED AGRICULTURE MEMBERS TO PURCHASE OVER 200,000 IN PRODUCE FOR DIRECT-TO-CONSUMER DISTRIBUTION. FOR EVERY DOLLAR MOVED THROUGH OUR MARKET ACCESS PROGRAMS, THE USDA LOCAL FOOD IMPACT MODEL ESTIMATES THAT 1.62 IS GENERATED IN ECONOMIC ACTIVITY.

Program 3

Expenses: $286,967

OUR SHARED USE KITCHEN WAS RENTED TO 22 SMALL BUSINESS OWNERS AND ENTREPRENEURS. WE GRADUATED TWO COHORTS OF 19 STUDENTS THROUGH VOCUL, A CULINARY EDUCATION AND WORKFORCE DEVELOPMENT PROGRAM FOCUSED...

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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 $1,655,201

Program Service Revenue $230,269

Investment Income $1,960

Other Revenue $251,766

TOTAL REVENUE $2,139,196

Expense Breakdown

Grants Paid $363,822

Salaries & Benefits $1,142,221

Fundraising Expenses $252,057

Program Expenses $1,598,819

Other Expenses $756,934

TOTAL EXPENSES $2,262,977

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,139,196	$1,182,522	+0.8%
Expenses	$2,262,977	$2,077,020	+0.1%
Net Income	$-123,781	$-894,498	-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

180

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

$124,103

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THERESA MCCORMICK	EXECUTIVE DI	40.00	Officer	$120,489	$3,614	$124,103
MEGAN MORGAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
TINA MAY	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
DAVE FREDERICKSON	TREASURER	1.00	Officer Director	$0	$0	$0
BETH DOOLEY	SECRETARY	1.00	Officer Director	$0	$0	$0
BETH FRITCHER	DIRECTOR	1.00	Director	$0	$0	$0
HELENE MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
HUONG NGUYEN	DIRECTOR	1.00	Director	$0	$0	$0
SARA POLAD	DIRECTOR	1.00	Director	$0	$0	$0
HARVEY RUPERT	DIRECTOR	1.00	Director	$0	$0	$0
MARK SEELEY	DIRECTOR	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	No data	No data	No data	No data
2023	$2,139,196	$2,262,977	$1,123,549	$-123,781
2022	$1,182,522	$2,077,020	$1,265,392	$-894,498
2021	$2,336,173	$1,702,212	$2,161,801	$633,961
2020	$1,250,517	$1,688,853	$1,648,232	$-438,336
2019	$2,918,147	$1,183,242	$2,009,892	$1,734,905
2018	$951,878	$1,196,221	$190,071	$-244,343