CARNATION FARMS

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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

2016

Legal Domicile

Principal Officer

ELBRIDGE STUART III

Phone

4258443100

Tax Period

2023-01-01 to 2023-12-31

CARNATION FARMS, founded in 2016, is a community nonprofit in the Recreation & Sports sector that reported $3.3M in total revenue in fiscal year 2023. Expenses of $3.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

CARNATION FARMS IS A COMMUNITY-BASED HUB FOR REGENERATIVE FOOD AND AGRICULTURE THAT EDUCATES AND EMPOWERS THE WORK OF CULINARY & FOOD AND FARMING PROFESSIONALS.

Program Service Accomplishments

Program 1

Expenses: $2,357,596 Revenue: $244,536

CARNATION FARMS' SUSTAINABLE AGRICULTURE ACTIVITIES INCLUDE 400 ACRES OF CERTIFIED ORGANIC VEGETABLE, FRUIT, EGG, GRAIN, HAY AND LIVESTOCK PRODUCTION FOR SALE AND FOR USE IN ITS EDUCATION PROGRAMS...

CARNATION FARMS' SUSTAINABLE AGRICULTURE ACTIVITIES INCLUDE 400 ACRES OF CERTIFIED ORGANIC VEGETABLE, FRUIT, EGG, GRAIN, HAY AND LIVESTOCK PRODUCTION FOR SALE AND FOR USE IN ITS EDUCATION PROGRAMS. THE CARNATION FARMS FARMSTAND RECEIVES MORE THAN 10,000 VISITORS PER YEAR AND NOT ONLY SELLS PRODUCTS FROM THE FARM TO THE LOCAL POPULACE, BUT ALSO PROVIDES AN OUTLET FOR OTHER LOCAL FARMERS TO SELL THEIR PRODUCTS. THE FARM'S PRODUCTS ARE ALSO SOLD THROUGH LOCAL FARMERS MARKETS, LOCAL RESTAURANT AND CATERING BUSINESSES, AND SEVERAL ORGANIZATIONS THAT WORK TO ALLEVIATE HUNGER IN THE REGION.

Program 2

Expenses: $155,198 Revenue: $24,364

CULINARY: CARNATION FARMS HOSTS A VARIETY OF MISSION-BASED CULINARY EVENTS INCLUDING FARM-TO-TABLE MEALS AND OTHER FOOD-FOCUSED EVENTS. CARNATION FARMS ALSO CREATES VALUE-ADDED PRODUCTS USING OUR...

CULINARY: CARNATION FARMS HOSTS A VARIETY OF MISSION-BASED CULINARY EVENTS INCLUDING FARM-TO-TABLE MEALS AND OTHER FOOD-FOCUSED EVENTS. CARNATION FARMS ALSO CREATES VALUE-ADDED PRODUCTS USING OUR ORGANIC AND LOCALLY SOURCED INGREDIENTS TO SUPPLY PREPARED FOODS THROUGH OUR FARMSTAND.

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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 $2,511,111

Program Service Revenue $159,130

Investment Income $-1,442

Other Revenue $596,932

TOTAL REVENUE $3,265,731

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,674,263

Fundraising Expenses $345,699

Program Expenses $2,512,794

Other Expenses $1,884,784

TOTAL EXPENSES $3,614,287

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,265,731	$3,163,365	+0.0%
Expenses	$3,614,287	$3,040,145	+0.2%
Net Income	$-348,556	$123,220	-3.8%

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

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

$254,716

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL SHOEMAKER	EXECUTIVE DIRECTOR	40.00	Officer	$103,505	$26,695	$130,200
EVANGEMINE LIWAG	FINANCIAL CONTROLLER	40.00	Officer	$110,892	$13,624	$124,516
ELBRIDGE STUART III	PRESIDENT/TREASURER	5.00	Officer Director	$0	$0	$0
SARAH ODERYD	VICE PRESIDENT/SECRETARY	1.00	Officer Director	$0	$0	$0
NIELS BRISBANE	DIRECTOR	1.00	Officer Director	$0	$0	$0
BRYANT HELVEY	DIRECTOR	1.00	Director	$0	$0	$0
JANICE LAFONTAINE	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL ODERYD	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	$3,265,731	$3,614,287	$2,666,879	$-348,556
2022	$3,163,365	$3,040,145	$2,504,172	$123,220
2021	$3,637,966	$3,632,350	$2,560,326	$5,616
2020	$3,707,378	$2,954,105	$13,557,149	$753,273
2019	$3,948,235	$3,596,318	$13,132,140	$351,917
2018	$3,301,036	$3,315,790	$13,691,161	$-14,754