Sequim Food Bank

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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

1982

Legal Domicile

Principal Officer

Stephanie Price

Phone

3606831205

Tax Period

2023-01-01 to 2023-12-31

Sequim Food Bank, founded in 1982, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $2.0M left a modest 7% surplus.

Mission

To provide food and assistance to individuals and organizations within our community so that "no one goes hungry in Sequim".Our 5 core values that guide our work:1. Compassion and Respect: Turn no one away from services and always encourage positive relationships with clients and the community.2. Stewardship & Sustainability: Be responsible stewards of our resources with focus on providing a well maintained, safe facility and equipment, and minimizing waste as much as possible.3. Education & Prevention: Commit to promoting healthy eating while reducing hunger. Strive to understand and eliminate the root causes of hunger.4. Collaboration & Cooperation: Engage and involve a network of community members.5. Diversity & Multiculturalism: Understand the diverse individual and cultural needs in our community.

Program Service Accomplishments

Program 1

Expenses: $1,927,410

To provide food to those in need living in Sequim. Volunteers assist in organizing and distributing the 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 $2,113,258

Program Service Revenue $0

Investment Income $44,261

Other Revenue $0

TOTAL REVENUE $2,157,519

Expense Breakdown

Grants Paid $0

Salaries & Benefits $309,449

Fundraising Expenses $0

Program Expenses $1,927,410

Other Expenses $1,698,367

TOTAL EXPENSES $2,007,816

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,157,519	$1,736,143	+0.2%
Expenses	$2,007,816	$1,850,135	+0.1%
Net Income	$149,703	$-113,992	-2.3%

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

175

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andra Smith	Executive Director	40.00		$78,722	$6,562	$85,284
Stephen Rosales	Board Member	10.00	Director	$0	$0	$0
Patricia Lebowitz	Board Member	2.00	Director	$0	$0	$0
Mark Ozias	Board Member	1.00	Director	$0	$0	$0
Carrie Heaton	Director	3.00	Director	$0	$0	$0
Joseph Sharkey	Board Member	1.00	Director	$0	$0	$0
Stephanie Price	President	3.00	Officer	$0	$0	$0
Jeffrey Forberg	Secretary/Treas	3.00	Officer	$0	$0	$0
Deon Kapetan	Vice President	3.00	Officer	$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	$2,157,519	$2,007,816	$1,758,265	$149,703
2022	$1,736,143	$1,850,135	$1,614,947	$-113,992
2021	$2,098,412	$1,804,225	$1,717,978	$294,187
2020	$3,015,926	$2,377,603	$1,428,454	$638,323
2019	$984,930	$970,642	$781,432	$14,288
2018	$985,518	$1,020,062	$757,299	$-34,544