THE GOOD FOOD INSTITUTE INC

EIN: 810840578 501(c)(3) Food, Agriculture & Nutrition

ARLINGTON, VA

Total Revenue
$43,631,366
Total Expenses
$31,037,374
Total Assets
$65,245,715
Net Assets
$58,882,005
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
DE
Principal Officer
ILYA SHEYMAN
Phone
2025962262
Tax Period
2023-01-01 to 2023-12-31

THE GOOD FOOD INSTITUTE INC, founded in 2015, is a mid-sized nonprofit in the Food, Agriculture & Nutrition sector that reported $43.6M in total revenue in fiscal year 2023. Revenue surged 176% from the prior year, signaling strong growth momentum. The organization ran a surplus of $12.6M, a strong 29% operating margin.

Mission

TO HARNESS THE POWER OF FOOD INNOVATION AND MARKETS TO MAKE THE GLOBAL FOOD SYSTEM BETTER FOR THE PLANET, PEOPLE, AND ANIMALS BY SUPPORTING EFFORTS TO MAKE ALTERNATIVE PROTEINS ACCESSIBLE, AFFORDABLE, AND DELICIOUS.

Program Service Accomplishments

Program 1
Expenses: $8,964,302 Revenue: $0

SCIENCE AND TECHNOLOGY - GFI'S SCIENCE AND TECHNOLOGY DEPARTMENT ACCELERATES THE SCIENCE OF ALTERNATIVE PROTEIN TECHNOLOGIES. GFI'S SCIENTISTS ARE THE GLOBAL EXPERTS IN THIS SECTOR AND WORK TO ENSURE...

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SCIENCE AND TECHNOLOGY - GFI'S SCIENCE AND TECHNOLOGY DEPARTMENT ACCELERATES THE SCIENCE OF ALTERNATIVE PROTEIN TECHNOLOGIES. GFI'S SCIENTISTS ARE THE GLOBAL EXPERTS IN THIS SECTOR AND WORK TO ENSURE THAT A ROADMAP EXISTS FOR ALTERNATIVE PROTEIN INNOVATION, THAT THE BEST SCIENTISTS ARE ENGAGED IN RESEARCH AND DEVELOPMENT, AND THAT THE HIGHEST IMPACT AREAS OF ALTERNATIVE PROTEIN RESEARCH AND DEVELOPMENT ARE PRIORITIZED. GFI'S SCIENCE AND TECHNOLOGY TEAM IS FOCUSED ON THREE PRINCIPAL ACTIVITIES:1. ANALYZING CURRENT AND FUTURE TECHNICAL CHALLENGES AND IDENTIFYING THE MOST IMPORTANT RESEARCH AND DEVELOPMENT OPPORTUNITIES FOR ALTERNATIVE PROTEINS.2. MOBILIZING FUNDING FOR OPEN-ACCESS RESEARCH AND DEVELOPMENT OF ALTERNATIVE PROTEINS.3. INSPIRING AND SUPPORTING THE NEXT GENERATION OF INNOVATORS IN THE ALTERNATIVE PROTEIN INDUSTRY.

Program 2
Expenses: $3,497,823 Revenue: $0

POLICY AND GOVERNMENT RELATIONS - GFI'S POLICY AND GOVERNMENT RELATIONS DEPARTMENT IS FOCUSED ON REMOVING PUBLIC POLICY HURDLES AND DIRECTING PUBLIC INVESTMENT TO ACCELERATE PROGRESS ON THE...

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POLICY AND GOVERNMENT RELATIONS - GFI'S POLICY AND GOVERNMENT RELATIONS DEPARTMENT IS FOCUSED ON REMOVING PUBLIC POLICY HURDLES AND DIRECTING PUBLIC INVESTMENT TO ACCELERATE PROGRESS ON THE WIDESPREAD ADOPTION OF ALTERNATIVE PROTEINS. THE POLICY AND GOVERNMENT RELATIONS TEAM PRIMARILY EDUCATES PUBLIC INSTITUTIONS, INCLUDING ELECTED OFFICIALS AND REGULATORS, AND USES IMPACT LITIGATION AS A STRATEGIC TOOL WHERE WARRANTED.

Program 3
Expenses: $3,986,570 Revenue: $751,930

CORPORATE ENGAGEMENT - GFI'S CORPORATE ENGAGEMENT DEPARTMENT WORKS TO EDUCATE COMPANIES AND INVESTORS TO PRIORITIZE ALTERNATIVE PROTEINS, ACCELERATE ALTERNATIVE PROTEIN INNOVATION, AND SCALE THE...

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CORPORATE ENGAGEMENT - GFI'S CORPORATE ENGAGEMENT DEPARTMENT WORKS TO EDUCATE COMPANIES AND INVESTORS TO PRIORITIZE ALTERNATIVE PROTEINS, ACCELERATE ALTERNATIVE PROTEIN INNOVATION, AND SCALE THE SUPPLY CHAIN. THE CORPORATE ENGAGEMENT TEAM'S WORK HELPS ENABLE FOOD INDUSTRY PARTNERS TO DEVELOP AND BRING TO MARKET ALTERNATIVE PROTEIN PRODUCTS THAT ARE AS ACCESSIBLE, AFFORDABLE, AND DELICIOUS AS CONVENTIONAL MEAT, EGGS, AND DAIRY. THE CORPORATE ENGAGEMENT TEAM EDUCATES AND EMPOWERS ENTITIES IN ALL STAGES OF THE SUPPLY CHAIN, INCLUDING ENTREPRENEURS AND STARTUPS, INVESTORS, FOOD AND MEAT MANUFACTURERS, INGREDIENT COMPANIES, GROCERY RETAILERS, FOODSERVICE COMPANIES, AND EQUIPMENT MANUFACTURERS.

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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 $41,583,843
Program Service Revenue $751,930
Investment Income $1,057,850
Other Revenue $237,743
TOTAL REVENUE $43,631,366

Expense Breakdown

Grants Paid $5,328,120
Salaries & Benefits $16,021,222
Fundraising Expenses $2,526,682
Program Expenses $24,019,670
Other Expenses $9,688,032
TOTAL EXPENSES $31,037,374

Year-over-Year Comparison

2023 2022 Change
Revenue $43,631,366 $15,833,279 +1.8%
Expenses $31,037,374 $22,760,706 +0.4%
Net Income $12,593,992 $-6,927,427 -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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Governance

Voting Members
7
Independent Members
6
Employees
120
Volunteers
75

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
4
$643,530
Total Directors
7
$223,557
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE FRIEDRICH PRESIDENT AND FOUNDER 40.00
Officer Director
$207,125 $16,432 $223,557
VANDHANA BALASUBRAMANIAN DIRECTOR 2.00
Director
$0 $0 $0
KATHLEEN FRESTON DIRECTOR 2.00
Director
$0 $0 $0
CAMERON ICARD CHAIR 3.00
Officer Director
$0 $0 $0
NABIHA BASATHIA DIRECTOR 2.00
Director
$0 $0 $0
JOAN GASS DIRECTOR 2.00
Director
$0 $0 $0
ANAND GOPAL DIRECTOR 2.00
Director
$0 $0 $0
SARAH DAVID GEN. COUNSEL, SECRETARY, TREASURER 40.00
Officer
$183,906 $17,511 $201,417
ILYA SHEYMAN CEO 40.00
Officer
$200,215 $18,341 $218,556
JESSICA ALMY SVP - POLICY AND GOVERNMENT RELATIONS 40.00
Highest
$182,346 $32,074 $214,420
SUSAN MCCAUSLAND-HALTEMAN SVP - DEVELOPMENT 40.00
Highest
$184,090 $15,521 $199,611
ELIZABETH SPECHT SVP - SCIENCE AND TECHNOLOGY 40.00
Highest
$190,988 $15,791 $206,779
CAROLINE BUSHNELL SVP - CORPORATE ENGAGEMENT 40.00
Highest
$175,411 $17,199 $192,610
SHEILA VOSS SVP - COMMUNICATIONS 40.00
Highest
$178,598 $23,185 $201,783
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 $43,631,366 $31,037,374 $65,245,715 $12,593,992
2022 $15,833,279 $22,760,706 $50,506,658 $-6,927,427
2021 $43,468,835 $17,034,589 $59,697,609 $26,434,246
2020 $18,923,594 $13,273,604 $29,918,594 $5,649,990
2019 $21,598,428 $8,894,304 $23,937,460 $12,704,124
2018 $8,359,313 $5,802,323 $11,295,496 $2,556,990
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