Totals
- Total revenue
- $120,680
- Total expenses
- $34,050
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $65
- Investment income
- $157,834
- Other revenue
- -$37,219
- Total assets, end of year
- $4,583,152
- Total liabilities, end of year
- $3,155,991
- Net assets or fund balances, end of year
- $1,427,161
- Program services expenses (Part IX)
- $33,067
- Management and general expenses
- $983
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $33,067
Program services were 97.1% 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.
-
2a · Program service revenue: SERVICE FEES
total $65 · related or exempt $65
-
3 · Investment income
total $157,834 · related or exempt $157,834
-
11a · Other revenue: OTHER INCOME
total $676 · related or exempt $676
-
11b · Other revenue: K-1 NYDC
total $1,538 · related or exempt $1,538
-
11c · Other revenue: K-1 RADICLE
total -$39,433 · related or exempt -$39,433
-
11e · Other revenue, total
-$37,219
Functional expenses
Part IX, the statement of functional expenses.
-
20 · Interest
total $8,868 · program services $7,885 · management and general $983
-
24a · Other expenses: BAD DEBTS
total $25,182 · program services $25,182
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $369,457 · end of year $969,368
-
3 · Pledges and grants receivable
beginning of year $64,402 · end of year $98,185
-
13 · Investments: program-related
beginning of year $2,681,052 · end of year $3,515,599
-
17 · Accounts payable and accrued expenses
beginning of year $1,521 · end of year -$8,764
-
19 · Deferred revenue
beginning of year $35,602
-
25 · Other liabilities
beginning of year $1,737,558 · end of year $3,164,755
-
27 · Net assets without donor restrictions
beginning of year $1,340,230 · end of year $1,427,161
Mission and programs · 2022
Mission
TO BUILD A MORE SUSTAINABLE FOOD SYSTEM BY MAKING INVESTMENTS IN FOOD ENTERPRISES THAT ADVANCE HEALTHY FOOD ACCESS, JOB CREATION, FAMILY FARM VIABILITY, AND GREATER RACIAL AND SOCIAL EQUITY, AND DO NOT HAVE SUFFICIENT ACCESS TO TRADITIONAL FINANCING SOURCES.
-
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. THE PROGRAM CURRENTLY ENCOMPASSES SIX EQUITY INVESTMENTS AND FIFTEEN LOANS.
Expenses $33,067
As filed on the 2022 return.
Listed in Part VII
-
Oran HestermanORAN HESTERMAN
DIRECTOR
- Total calculated
- $462,899
- From this org
- $0
- From related orgs
- $448,821
- Other
- $14,078
- Hours/week
- 10
Schedule J breakdown matched by us
- Base
- not reported + $361,321 related
- Bonus
- not reported + $87,500 related
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $14,078 related
- Filer's total
- not reported + $462,899 related
-
Kate KraussKATE KRAUSS
CEO
- Total calculated
- $216,010
- From this org
- $0
- From related orgs
- $207,782
- Other
- $8,228
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $177,782 related
- Bonus
- not reported + $30,000 related
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $8,228 related
- Filer's total
- not reported + $216,010 related
-
Dan WarmelsDAN WARMELS
TREASURER
- Total calculated
- $0
- Hours/week
- 0
-
Gary AppelGARY APPEL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
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
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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
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
No itemized grants to organizations 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.
-
501 C3 · TO CREATE A FOOD SYSTEM THAT UPHOLDS THE FUNDAMENTAL RIGHT · MI
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349317125
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