Sequim Food Bank

EIN: 911215709 501(c)(3)

Sequim, WA

Total Revenue
$2,157,519
Total Expenses
$2,007,816
Total Assets
$1,758,265
Net Assets
$1,712,322
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
WA
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.

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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 $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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
14
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
3
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
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
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