Is it real?
Yes. Exemption reinstated (2012-11-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Aug 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
78 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
11 people listed on the 990.
Luca Carnevale’s $103K as Executive Director is at the 21st percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Supports food entrepreneurs with shared kitchens and resources to launch businesses.
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To help local entrepreneurs jump-start early-stage food companies and food related businesses by providing low cost, low risk access to shared-use commercial kitchens and other industry-specific technical resources.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $189K | $194K |
| Land, buildings, equipmentLn 10c | $2.1M | $2.0M |
| Total assetsLn 16 | $2.5M | $2.5M |
| LiabilitiesLn 26 | $3.2M | $3.1M |
| Net assetsLn 32 | −$751K | −$556K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $806K | $685K | $81K | $40K |
| Other employee benefitsLn 9 | $64K | $54K | $6K | $3K |
| Payroll taxesLn 10 | $82K | $70K | $8K | $4K |
| Legal feesLn 11b | $2K | $2K | ||
| Accounting feesLn 11c | $66K | $66K | ||
| Other fees for servicesLn 11g | $82K | $82K | ||
| Advertising and promotionLn 12 | $33K | $33K | ||
| Office expensesLn 13 | $10K | $10K | ||
| OccupancyLn 16 | $80K | $72K | $8K | |
| TravelLn 17 | $17K | $17K | ||
| InterestLn 20 | $103K | $103K | ||
| Depreciation, depletion and amortizationLn 22 | $73K | $70K | $4K | |
| InsuranceLn 23 | $34K | $29K | $5K | |
| Other expenses (24a–d)Ln 24 | $398K | $392K | $5K | $449 |
| All other expensesLn 24e | $46K | $43K | $2K | |
| Total functional expensesLn 25 | $1.9M | $1.6M | $280K | $48K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Viewing | $1.9M | $2.0M | −$140K | −$783K | 990 PDF |
| FY2023 | $1.7M | $1.6M | $42K | −$751K | 990 PDF |
| FY2022 | $1.2M | $1.3M | −$59K | −$808K | 990 PDF |
| FY2021 | $1.0M | $1.1M | −$113K | −$749K | 990 PDF |
| FY2020 | $958K | $1.0M | −$79K | −$636K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,863,573 across 5 lines filed
Part IX · Statement of functional expenses $1,896,190 across 15 lines filed
Part X · Balance sheet $2,518,207 assets, 13 lines filed
Part XI · Reconciliation of net assets −$555,831 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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