Fair Food Fund: Nonprofit Profile, Financials & Form 990 (EIN 46-1555654)

Kate Krauss’s $235K as CEO is at the 100th percentile of top reported officer pay among 1171 $100K–1M food & agriculture 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 15aYes

Programs and updates

Invests in food businesses promoting healthy access, jobs, and equity for underserved communities.

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1 program · $183K · in their own filed words · FY2024

01

Fair food fund is an impact capital fund from fair food network that fuels entrepreneurship in the food system by using project-related investment (pri) funds to make loans to and equity investments in businesses that connect farmers with demand for local, sustainably grown food.

$183Kprogram expense

By the numbers

The FY2024 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$108K

Ln 12

Investment incomeLn 3$110K

Fees for servicesLn 2g$1K

Money outPt IX

$183K

Ln 25

Programscol B$183K

Owns and owesPt X

$1.1M

net assets · Ln 32

Cash and savingsLn 1–2$464K

Total assetsLn 16$4.5M

LiabilitiesLn 26$3.3M

PeoplePt VI, VII

4

listed · VII A

PaidVII A1

Voting boardVI 1a4

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$1K

Investment incomeLn 3$110K

Total revenueLn 12$108K

Assets in detailPt X, end of year

SavingsLn 2$464K

Cash and savings togetherLn 1–2$464K

InvestmentsLn 11–13$4.0M

Total assetsLn 16$4.5M

LiabilitiesLn 26$3.3M

Net assetsLn 32$1.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$514K	$464K
InvestmentsLn 11–13	$4.0M	$4.0M
Total assetsLn 16	$4.6M	$4.5M
LiabilitiesLn 26	$3.3M	$3.3M
Net assetsLn 32	$1.2M	$1.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Office expensesLn 13	$644	$644
InterestLn 20	$2K	$2K
Other expenses (24a–d)Ln 24	$181K	$181K
Total functional expensesLn 25	$183K	$183K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$108K	$183K	−$75K	$1.1M	990 PDF
FY2023	$13K	$219K	−$206K	$1.2M	990 PDF
FY2022	$121K	$34K	$87K	$1.4M	990 PDF
FY2021	$879K	$10K	$869K	$1.3M	990 PDF
FY2020	$28K	$20K	$8K	$463K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $108,436 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $2,064$1,206

I-10 Investment incomePrior year $123,693$110,255

I-11 Other revenuePrior year −$112,610−$3,025

I-12 Total revenuePrior year $13,147$108,436

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $218,673$183,277

I-18 Total expensesPrior year $218,673$183,277

I-19 Revenue less expensesPrior year −$205,526−$74,841

Part VI · Governance 3 of 4 board members independent, no flags

VI-1a Voting members of the governing body4

VI-1b Independent voting members3

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $108,436 across 5 lines filed

Lines not itemized here account for $26,151 of total revenue; see the IRS return.

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,206$1,206

VIII-3 Investment incomeRelated to mission $110,255$110,255

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$29,176−$29,176

VIII-12 Total revenueRelated to mission $108,436 · Unrelated business $0 · Excluded from tax $0$108,436

Part IX · Statement of functional expenses $183,277 across 3 lines filed

IX-13 Office expensesPrograms $644$644

IX-20 InterestPrograms $1,525$1,525

IX-24 Other expenses (24a–d)Programs $181,108$181,108

IX-25 Total functional expensesPrograms $183,277 · Management $0 · Fundraising $0$183,277

Part X · Balance sheet $4,492,463 assets, 9 lines filed

X-2 Savings and temporary cash investmentsStart of year $514,022$463,922

X-3 Pledges and grants receivableStart of year $30,715$20,000

X-13 Program-related investmentsStart of year $4,022,568$4,008,541

X-16 Total assetsStart of year $4,567,305$4,492,463

X-25 Other liabilitiesStart of year $3,345,971$3,345,970

X-26 Total liabilitiesStart of year $3,345,971$3,345,970

X-27 Net assets without donor restrictionsStart of year $1,221,334$1,146,493

X-32 Total net assets or fund balancesStart of year $1,221,334$1,146,493

X-33 Total liabilities and net assetsStart of year $4,567,305$4,492,463

Part XI · Reconciliation of net assets $1,146,493 net assets at year end

XI-1 Total revenue$108,436

XI-2 Total expenses$183,277

XI-3 Revenue less expenses−$74,841

XI-4 Net assets at start of year$1,221,334

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,146,493

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Fair Food Fund

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