FOODBANK OF SOUTHEASTERN VIRGINIA

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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

1981

Legal Domicile

Phone

7576276599

Tax Period

2024-07-01 to 2025-06-30

FOODBANK OF SOUTHEASTERN VIRGINIA, founded in 1981, is a mid-sized nonprofit in the Food, Agriculture & Nutrition sector that reported $60.9M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $53.7M left a modest 12% surplus.

Mission

LEADING THE EFFORT TO ELIMINATE HUNGER IN OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $50,756,849 Revenue: $1,683,108

During FY25, the Foodbank of Southeastern Virginia and the Eastern Shore, through its facilities and programs in Norfolk, Tasley, and Franklin, along with our partner agencies, distributed more than 24.6 million pounds of food, the equivalent of 20.5 million nutritious meals for individuals and families facing food insecurity. Of this, 7.9 million pounds were fresh fruits and vegetables, a 3% increase from the previous year, as we continue advancing from the food distribution business to the healthy food access business. This intentional focus ensures neighbors not only have enough to eat but have the nourishment needed for long-term health and well-being. The Foodbank's network of 226 partner agencies served nearly 1.9 million individuals, representing a 15.1% increase from the year prior. Our work was made possible by the commitment of 7,317 volunteers who dedicated 60,022 hours of service-the equivalent of 29 full-time employees. Despite operating with fewer resources than the previous year, their extraordinary effort and the collaboration of our partners allowed us to sustain and strengthen our impact across the 11 cities and counties we serve.

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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 $58,490,270

Program Service Revenue $559,790

Investment Income $705,436

Other Revenue $1,096,886

TOTAL REVENUE $60,852,382

Expense Breakdown

Grants Paid $41,353,506

Salaries & Benefits $4,900,732

Fundraising Expenses $1,649,300

Program Expenses $50,756,849

Other Expenses $6,785,136

TOTAL EXPENSES $53,669,948

Year-over-Year Comparison

	2024	2023	Change
Revenue	$60,852,382	$56,064,593	+0.1%
Expenses	$53,669,948	$54,171,622	0.0%
Net Income	$7,182,434	$1,892,971	+2.8%

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

7317

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

$331,289

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Cynthia Nicholson	Vice Chair	1.0	Officer Director	$0	$0	$0
Damon DeSue	Treasurer	1.0	Officer Director	$0	$0	$0
Heather Hall	Secretary	1.0	Officer Director	$0	$0	$0
Sara Rothenberg	Chair	1.0	Officer Director	$0	$0	$0
Christopher Keffer	Board Member	1.0	Director	$0	$0	$0
Don Carey	Board Member	1.0	Director	$0	$0	$0
Doug Smith	Board Member	1.0	Director	$0	$0	$0
Kay O'Reilly	Board Member	1.0	Director	$0	$0	$0
Kevin Jones	Past Chair	1.0	Director	$0	$0	$0
Leila Rice	Board Member	1.0	Director	$0	$0	$0
Martha Ambler	Board Member	1.0	Director	$0	$0	$0
Rick Lloyd	Board Member	1.0	Director	$0	$0	$0
Rickey Burroughs	Board Member	1.0	Director	$0	$0	$0
Thomas Hasty	Board Member	1.0	Director	$0	$0	$0
William Goings	Board Member	1.0	Director	$0	$0	$0
Christopher Tan	President & CEO	40.0	Officer	$171,168	$28,061	$199,229
Dean Wooten	CFO	40.0	Officer	$105,502	$26,558	$132,060
Leah Williams Rumbly	Chief Programs & Innovation Officer	40.0	Highest	$114,225	$7,127	$121,352
Melissa Smith	CDO	40.0	Highest	$112,812	$20,424	$133,236

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	$60,852,382	$53,669,948	$35,066,091	$7,182,434
2024	$56,064,593	$54,171,622	$26,940,357	$1,892,971
2023	$46,085,772	$45,537,832	$24,836,114	$547,940
2022	$36,248,967	$37,660,834	$23,372,380	$-1,411,867
2021	$41,922,785	$38,092,808	$26,742,408	$3,829,977
2020	$36,548,687	$31,708,143	$20,941,697	$4,840,544
2019	$31,929,289	$30,164,029	$16,092,797	$1,765,260
2018	$35,363,979	$34,218,813	$14,046,297	$1,145,166