BLACK FARMER FUND INC (EIN 842310349) - 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

2019

Legal Domicile

Principal Officer

CONNIE EVANS

Phone

3472012974

Tax Period

2024-01-01 to 2024-12-31

BLACK FARMER FUND INC, founded in 2019, is a mid-sized nonprofit in the Community Improvement sector that reported $12.4M in total revenue in fiscal year 2024. Revenue surged 113% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.9M, a strong 55% operating margin.

Mission

THE MISSION OF BLACK FARMER FUND IS TO CREATE A THRIVING, RESILIENT, AND EQUITABLE FOOD SYSTEM BY INVESTING IN BLACK FOOD SYSTEMS ENTREPRENEURS AND COMMUNITIES IN THE NORTHEAST.

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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 $11,669,389

Program Service Revenue $21,685

Investment Income $743,456

Other Revenue $2,799

TOTAL REVENUE $12,437,329

Expense Breakdown

Grants Paid $2,259,500

Salaries & Benefits $1,644,554

Fundraising Expenses $304,314

Program Expenses $4,365,835

Other Expenses $1,669,930

TOTAL EXPENSES $5,573,984

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,437,329	$5,830,704	+1.1%
Expenses	$5,573,984	$2,346,938	+1.4%
Net Income	$6,863,345	$3,483,766	+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

$290,063

Total Directors

$290,063

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RHYSTON MAYS	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREN WASHINGTON	CHAIR	1.00	Officer Director	$0	$0	$0
OLIVIA WATKINS	CO-EXECUTIVE DIRECTOR / TREASURER	40.00	Officer Director	$142,058	$14,244	$156,302
ONIKA ABRAHAM	SECRETARY	1.00	Officer Director	$0	$0	$0
MAKAELIA DAVIS	BOARD DIRECTOR	1.00	Director	$0	$0	$0
MELANIE ALLEN	CO-EXECUTIVE DIRECTOR	40.00	Officer Director	$119,694	$14,067	$133,761
RIBKA GETACHEW	BOARD MEMBER	1.00	Director	$0	$0	$0
VICTORIA VAN AMSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET GUMBS	FINANCE DIRECTOR	40.00	Highest	$100,417	$26,107	$126,524
CHARLES WADE	INVESTMENT DIRECTOR	40.00	Highest	$167,931	$36,190	$204,121

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	$12,437,329	$5,573,984	$26,511,647	$6,863,345
2023	$5,830,704	$2,346,938	$18,705,526	$3,483,766
2022	$5,574,978	$1,764,609	$6,823,672	$3,810,369
2021	$2,824,891	$1,196,372	$2,845,730	$1,628,519
2020	$1,373,245	$179,823	$1,195,670	$1,193,422

BLACK FARMER FUND INC