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← FMI FOUNDATION

Form 990 for tax year 2022

Filed by FMI FOUNDATION.

Totals

Total revenue
$937,449
Total expenses
$1,145,052
Contributions and grants received
$515,369
Grants paid
$260,000
Program service revenue
$0
Investment income
$385,080
Other revenue
$37,000
Total assets, end of year
$10,601,900
Total liabilities, end of year
$634,069
Net assets or fund balances, end of year
$9,967,831
Program services expenses (Part IX)
$623,118
Management and general expenses
$348,718
Fundraising expenses
$173,216
Program service expenses (Part III)
$623,118

Program services were 54.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $60,000

  • 1f · All other contributions, gifts and grants

    $455,369

  • 3 · Investment income

    total $246,899 · excluded $246,899

  • 7a · Gross sales of assets other than inventory

    securities $6,324,233

  • 7b · Less cost or other basis and sales expenses

    securities $6,186,052

  • 7c · Gain or loss

    securities $138,181

  • 7d · Net gain or loss

    total $138,181 · excluded $138,181

  • 11a · Other revenue: OTHER MISC REVENUES

    total $37,000 · excluded $37,000

  • 11e · Other revenue, total

    $37,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $215,000 · program services $215,000

  • 2 · Grants to domestic individuals

    total $45,000 · program services $45,000

  • 11c · Fees: accounting

    total $10,000 · management and general $10,000

  • 11f · Fees: investment management

    total $92,618 · management and general $92,618

  • 11g · Fees: other

    total $185,450 · program services $185,450

  • 13 · Office expenses

    total $4,223 · program services $409 · management and general $912 · fundraising $2,902

  • 14 · Information technology

    total $6,087 · program services $5,399 · management and general $688

  • 17 · Travel

    total $24,587 · program services $20,113 · management and general $2,622 · fundraising $1,852

  • 19 · Conferences, conventions and meetings

    total $118,586 · program services $30,094 · management and general $1,475 · fundraising $87,017

  • 22 · Depreciation, depletion and amortization

    total $10,353 · program services $9,506 · fundraising $847

  • 24a · Other expenses: PROGRAM ADMINISTRATION

    total $428,811 · program services $108,541 · management and general $239,701 · fundraising $80,569

  • 24b · Other expenses: AWARDS & OTHER

    total $2,461 · program services $1,730 · management and general $702 · fundraising $29

  • 24c · Other expenses: SURVEY DATA

    total $1,876 · program services $1,876

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $317,930 · end of year $103,957

  • 4 · Accounts receivable

    beginning of year $47,500 · end of year $70,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $513 · end of year $36,442

  • 11 · Investments: publicly traded securities

    beginning of year $12,271,073 · end of year $10,391,501

  • 17 · Accounts payable and accrued expenses

    beginning of year $107,119 · end of year $58,288

  • 19 · Deferred revenue

    beginning of year $137,500 · end of year $382,618

  • 25 · Other liabilities

    beginning of year $44,929 · end of year $193,163

  • 27 · Net assets without donor restrictions

    beginning of year $12,347,468 · end of year $9,967,831

Mission and programs · 2022

Mission

FMI FOUNDATION (THE FOUNDATION) PROVIDES FUNDS TO HELP SUPPORT THE FOOD INDUSTRY'S IMPORTANT FOOD SAFETY, HEALTH AND NUTRITION PROGRAMS. THESE PROGRAMS PROTECT CONSUMERS FROM FOODBORNE ILLNESS AND ENCOURAGE HEALTHIER EATING. THESE PROGRAMS INCLUDE THE PARTNERSHIP FOR FOOD SAFETY EDUCATION, UNIFIED VOICE PROTOCOL AND THE FAMILY MEALS MONTH.

Activities or mission (Part I)

PROVIDE SUPPORT TO THE FOOD INDUSTRY'S IMPORTANT FOOD SAFETY, NUTRITION AND HEALTH PROGRAMS.

  • THE FOUNDATION'S GRANT PROGRAMS FOCUS ON CONSUMERS, STORE ASSOCIATES AND OTHER WORKERS, AS WELL AS FOOD SUPPLIERS TO ADVANCE NUTRITION, HEALTH AND FOOD SAFETY. THROUGH INTERACTION WITH THE NON-PROFIT PARTNERSHIP FOR FOOD SAFETY EDUCATION, RESOURCES FROM THE FOUNDATION HAVE ENABLED THE PARTNERSHIP TO DEVELOP THE ONLY PUBLIC-PRIVATE COLLABORATIVE THAT FOCUSES EXCLUSIVELY ON THE PREVENTION OF FOODBORNE ILLNESS AT THE POINT OF CONSUMER HANDLING AND PREPARATION IN THE HOME. THE FOUNDATION ALSO GAVE GRANTS AND PAID OTHER EXPENSES RELATED TO THE UNIFIED VOICE PROTOCOL WHICH ESTABLISHES A FRAMEWORK TO PROACTIVELY CREATE AN ENVIRONMENT OF TRUST IN THE FOOD AND CONSUMER GOODS INDUSTRIES. THE FOUNDATION IS ALSO WORKING WITH JUNIOR ACHIEVEMENT US TO HELP PROMOTE THE FOOD INDUSTRY AS A PREFERRED CAREER CHOICE.THE FOUNDATION STARTED THE FAMILY MEALS CAMPAIGN TO ENCOURAGE ONE MORE MEAL AT HOME EACH WEEK. FAMILY MEALS EATEN AT HOME HAVE PROVEN TO BENEFIT THE HEALTH AND WELLNESS OF CHILDREN AND ADOLESCENTS, TO FIGHT OBESITY, SUBSTANCE ABUSE AND TO MAKE FAMILIES STRONGER. THE FOUNDATION IS PROVIDING ONLINE TOOLKITS THAT RETAILERS AND SUPPLIERS CAN USE TO PROMOTE FAMILY MEALS. THE TOOLKIT INCLUDES, RECIPES, PLANNING SUGGESTIONS, RECIPE LISTS AND MESSAGING ABOUT THE BENEFITS OF FAMILY MEALS.THE FOUNDATION PROVIDED SCHOLARSHIPS AND FUNDING TO UNIVERSITY SCIENCE PROGRAMS TO PROMOTE TRAINING FOR AUDITORS IN FOOD SAFETY IN AN ACCREDITED CERTIFICATION PROGRAM.

    Expenses $623,118 · Grants $260,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brad Wbrookshire

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Dagmar Boggs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Brent Cotten

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Keith Dailey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Kevin Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Molly Fogarty

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Chris Foley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Brian George

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Neil Golub

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Oscar Gonzalez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Georgia Van Gundy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Todd Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Rick Keyes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Oli Morton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Joseph Sheridan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Geoff Tanner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Kirk Tanner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Mike Vail

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Julia Wells

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Leslie G Sarasin Esq

    PRESIDENT

    Total calculated
    $3,264,355
    From this org
    $0
    From related orgs
    $2,844,800
    Other
    $419,555
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,753,784 related
    Bonus
    $0 + $1,046,600 related
    Other
    $0 + $44,416 related
    Deferred
    $0 + $388,800 related
    Nontaxable benefits
    $0 + $30,755 related
    Filer's total
    $0 + $3,264,355 related
  • Salvatore J Dicarlo

    CFO/TREASURER

    Total calculated
    $477,671
    From this org
    $0
    From related orgs
    $512,780
    Other
    -$35,109
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $454,543 related
    Bonus
    $0 + $53,900 related
    Other
    $0 + $4,337 related
    Deferred
    $0 + -$65,973 related
    Nontaxable benefits
    $0 + $30,864 related
    Filer's total
    $0 + $477,671 related
  • David Fikes

    SENIOR VP/SECRETARY

    Total calculated
    $346,804
    From this org
    $0
    From related orgs
    $291,583
    Other
    $55,221
    Hours/week
    19 + 19 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,355 related
    Bonus
    $0 + $26,700 related
    Other
    $0 + $7,528 related
    Deferred
    $0 + $23,576 related
    Nontaxable benefits
    $0 + $31,645 related
    Filer's total
    $0 + $346,804 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE FOOD MARKETPLACE INC. (FMI), A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). ON AN ANNUAL BASIS, FOR FMI'S CEO AND OTHER SENIOR EXECUTIVE POSITIONS, A COMPENSATION COMMITTEE, COMPRISED OF CURRENT AND PAST BOARD OFFICERS, REVIEWS EMPLOYEE PERFORMANCE AND MAKES COMPENSATION ADJUSTMENTS ON THE BASIS OF THIS PERFORMANCE IN CONJUNCTION WITH A REVIEW OF MARKET-BASED, PUBLICALLY AVAILABLE, COMPARABILITY DATA. PERIODICALLY, FMI USES THE SERVICES OF AN INDEPENDENT CONSULTANT TO DO A MORE THOROUGH REVIEW OF COMPENSATION RANGES FOR ALL STAFF POSITIONS.
PART I, LINE 4B
LESLIE G. SARASIN, PRESIDENT, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DURING THE YEAR ENDING DECEMBER 31, 2022. THE ORGANIZATION CONTRIBUTED $364,400 TO THE PLAN FOR 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • FOOD MARKETPLACE INC

    501(C)(6) · MEMBERSHIP ORGANIZATION · DC

  • FOODPAC

    527 · POLITICAL ACTION · DC

    Directly controlled by FOOD MARKETPLACE INC

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202302919349300215

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