THE SEPHARDIC FOOD FUND INC C/O MI… - Form 990 Financial Data

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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

2003

Legal Domicile

Principal Officer

ELLIOT SUTTON

Phone

2123829500

Tax Period

2023-01-01 to 2023-12-31

THE SEPHARDIC FOOD FUND INC C/O MIDDLEGATE SECURITIES, founded in 2003, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $4.6M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

TO RECEIVE AND MAINTAIN FUNDS TO BE USED FOR CHARITABLE PURPOSES, INCLUDING, BUT NOT LIMITED TO, PROVIDING FOOD TO THE NEEDY.

Program Service Accomplishments

Program 1

Expenses: $4,400,877

THE ORGANIZATION PROVIDES CREDIT CARDS TO BE USED BY NEEDY FAMILIES IN ORDER TO PURCHASE FOOD AND BASIC NECESSITIES. THE CREDIT CARDS HAVE A PREDETERMINED MONTHLY BALANCE RESTRICTED FOR USE AT FOOD...

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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 $4,410,515

Program Service Revenue $0

Investment Income $147,480

Other Revenue $0

TOTAL REVENUE $4,557,995

Expense Breakdown

Grants Paid $3,979,040

Salaries & Benefits $404,376

Fundraising Expenses $75,265

Program Expenses $4,400,877

Other Expenses $164,123

TOTAL EXPENSES $4,547,539

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,557,995	$4,924,279	-0.1%
Expenses	$4,547,539	$3,841,922	+0.2%
Net Income	$10,456	$1,082,357	-1.0%

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

N/A

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

$166,608

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID SITT	EXECUTIVE DIRECTOR	10.00	Director	$0	$0	$0
ELLIOT SUTTON	DIRECTOR	10.00	Director	$0	$0	$0
RAYMOND SULTAN	DIRECTOR	40.00	Director	$166,608	$0	$166,608

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
2023	$4,557,995	$4,547,539	$3,110,344	$10,456
2022	$4,924,279	$3,841,922	$3,104,180	$1,082,357
2021	$3,873,990	$3,258,139	$2,017,531	$615,851
2020	$4,346,325	$3,591,201	$1,401,680	$755,124
2019	$2,812,077	$2,999,384	$646,556	$-187,307
2018	$2,670,948	$2,817,881	$833,863	$-146,933

THE SEPHARDIC FOOD FUND INC C/O MIDDLEGATE SECURITIES