MCDOWELL LFAC (EIN 832141213) - Form 990 Financial Analysis & Trantor Score

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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

2018

Legal Domicile

Principal Officer

MOLLY SANDFOSS

Phone

8282895553

Tax Period

2023-08-01 to 2024-07-31

MCDOWELL LFAC, founded in 2018, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 108% from the prior year, signaling strong growth momentum. The organization ran a surplus of $707K, a strong 26% operating margin.

Mission

MCDOWELL LFAC IS A 501(C)(3) ORGANIZATION WITH A MISSION TO CONNECT, COORDINATE, AND STRENGTHEN THE LOCAL FOOD SYSTEM IN MCDOWELL COUNTY, NORTH CAROLINA. THE ORGANIZATION'S GOAL IS TO IMPROVE THE HEALTH, INCOME AND LIVELIHOODS OF ALL COMMUNITY MEMBERS THROUGH BUILDING A COMPLETE FOOD NETWORK OF PRODUCERS, BUSINESSES, AGENCIES AND NOT-FOR-PROFIT ORGANIZATIONS. LFAC DOES THIS THROUGH DEVELOPING AND IMPLEMENTING PROGRAMS, SPECIAL PROJECTS AND SUPPORTIVE FOOD SYSTEM INFRASTRUCTURE IN MCDOWELL.

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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 $445,367

Program Service Revenue $2,251,925

Investment Income $0

Other Revenue $2,085

TOTAL REVENUE $2,699,377

Expense Breakdown

Grants Paid $6,253

Salaries & Benefits $733,046

Fundraising Expenses $0

Program Expenses $1,675,235

Other Expenses $1,253,527

TOTAL EXPENSES $1,992,826

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,699,377	$1,297,682	+1.1%
Expenses	$1,992,826	$820,633	+1.4%
Net Income	$706,551	$477,049	+0.5%

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

155

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

$76,078

Total Directors

$3,477

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MOLLY SANDFOSS	CHAIR (CURRENT-START 7/24)	2.00	Officer Director	$0	$0	$0
ALEX PORTELLI	CHAIR (FORMER-END 7/24)	2.00	Officer Director	$0	$0	$0
TIM BURKE	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
AMY STEVENS VAUGHN	SECRETARY (CURRENT-START 7/24)	2.00	Officer Director	$0	$0	$0
PAULA SWEPSON	TREASURER (WAS SECRETARY-END 7/24)	2.00	Officer Director	$0	$0	$0
NIKII PITTMAN	TREASURER (FORMER-END 7/24)	2.00	Officer Director	$3,477	$0	$3,477
TIM KELLER	BOARD MEMBER	2.00	Director	$0	$0	$0
BELINDA SWEPSON	BOARD MEMBER	2.00	Director	$0	$0	$0
LORENA CERVANTES	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTINE SMOLKE	BOARD MEMBER (FORMER-END 7/24)	2.00	Director	$0	$0	$0
GINGER WEBB	BOARD MEMBER	2.00	Director	$0	$0	$0
LESLIE BURLESON	EXECUTIVE DIR. (CURRENT-START 4/24)	40.00	Officer	$0	$0	$0
HEATHER EDWARDS	EXECUTIVE DIR. (FORMER-END 3/24)	40.00	Officer	$72,601	$0	$72,601

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	$2,699,377	$1,992,826	$2,517,049	$706,551
2023	$1,297,682	$820,633	$1,808,097	$477,049
2022	$1,042,821	$554,302	$1,323,302	$488,519
2021	$740,712	$413,693	$842,553	$327,019
2021	$740,712	$422,715	$833,531	$317,997
2020	$656,342	$232,503	$515,135	$423,839

MCDOWELL LFAC