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Nonprofiteer
← GOOD FOOD INSTITUTE INC

Form 990 for tax year 2023

Filed by GOOD FOOD INSTITUTE INC.

Totals

Total revenue
$43,631,366
Total expenses
$31,037,374
Contributions and grants received
$41,583,843
Grants paid
$5,328,120
Program service revenue
$751,930
Investment income
$1,057,850
Other revenue
$237,743
Total assets, end of year
$65,245,715
Total liabilities, end of year
$6,363,710
Net assets or fund balances, end of year
$58,882,005
Program services expenses (Part IX)
$24,019,670
Management and general expenses
$4,491,022
Fundraising expenses
$2,526,682
Program service expenses (Part III)
$24,019,670

Program services were 77.4% 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.

  • 1f · All other contributions, gifts and grants

    $41,583,843

  • 1g · Noncash contributions included above

    $5,449,956

  • 2a · Program service revenue: CONFERENCES AND MEETINGS

    total $751,930 · related or exempt $751,930

  • 3 · Investment income

    total $909,567 · excluded $909,567

  • 7a · Gross sales of assets other than inventory

    securities $42,871,980

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

    securities $42,723,697

  • 7c · Gain or loss

    securities $148,283

  • 7d · Net gain or loss

    total $148,283 · excluded $148,283

  • 11a · Other revenue: FOREIGN EXCHANGE GAIN

    total $149,907 · excluded $149,907

  • 11b · Other revenue: OTHER INCOME

    total $87,836 · excluded $87,836

  • 11e · Other revenue, total

    $237,743

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,530,088 · program services $1,530,088

  • 3 · Grants to foreign organizations and individuals

    total $3,798,032 · program services $3,798,032

  • 5 · Compensation of officers, directors and key employees

    total $643,530 · program services $196,730 · management and general $424,444 · fundraising $22,356

  • 7 · Other salaries and wages

    total $12,300,225 · program services $9,009,018 · management and general $1,774,025 · fundraising $1,517,182

  • 8 · Pension plan contributions

    total $490,568 · program services $336,041 · management and general $104,521 · fundraising $50,006

  • 9 · Other employee benefits

    total $1,421,651 · program services $900,809 · management and general $340,044 · fundraising $180,798

  • 10 · Payroll taxes

    total $1,165,248 · program services $783,504 · management and general $247,016 · fundraising $134,728

  • 11a · Fees: management

    total $85,650 · program services $24,914 · management and general $58,635 · fundraising $2,101

  • 11b · Fees: legal

    total $88,368 · program services $84,603 · management and general $3,765

  • 11c · Fees: accounting

    total $230,050 · management and general $230,050

  • 11d · Fees: lobbying

    total $433,500 · program services $433,500

  • 11g · Fees: other

    total $5,750,872 · program services $4,505,306 · management and general $788,017 · fundraising $457,549

  • 12 · Advertising and promotion

    total $13,985 · program services $11,809 · management and general $2,176

  • 13 · Office expenses

    total $152,739 · program services $81,683 · management and general $37,335 · fundraising $33,721

  • 14 · Information technology

    total $20,768 · program services $15,662 · management and general $4,630 · fundraising $476

  • 16 · Occupancy

    total $255,914 · program services $206,032 · management and general $36,517 · fundraising $13,365

  • 17 · Travel

    total $390,175 · program services $250,663 · management and general $112,481 · fundraising $27,031

  • 19 · Conferences, conventions and meetings

    total $1,868,031 · program services $1,582,749 · management and general $265,455 · fundraising $19,827

  • 22 · Depreciation, depletion and amortization

    total $12,619 · program services $8,890 · management and general $3,729

  • 23 · Insurance

    total $58,934 · program services $35,603 · management and general $20,894 · fundraising $2,437

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $282,879 · program services $194,145 · management and general $32,313 · fundraising $56,421

  • 24b · Other expenses: SUBSCRIPTIONS

    total $31,748 · program services $21,791 · management and general $3,627 · fundraising $6,330

  • 24c · Other expenses: BANK, FILING AND OTHER

    total $11,134 · program services $7,641 · management and general $1,272 · fundraising $2,221

  • 24d · Other expenses: DONOR STEWARDSHIP

    total $666 · program services $457 · management and general $76 · fundraising $133

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,527,116 · end of year $3,803,746

  • 2 · Savings and temporary cash investments

    beginning of year $1,760,148 · end of year $1,004,478

  • 3 · Pledges and grants receivable

    beginning of year $5,885,795 · end of year $14,553,282

  • 9 · Prepaid expenses and deferred charges

    beginning of year $439,909 · end of year $719,990

  • 10a · Land, buildings and equipment: cost or other basis

    $69,580

  • 10b · Land, buildings and equipment: accumulated depreciation

    $30,713

  • 10c · Land, buildings and equipment, net

    beginning of year $23,164 · end of year $38,867

  • 11 · Investments: publicly traded securities

    beginning of year $38,870,526 · end of year $44,939,039

  • 15 · Other assets

    beginning of year $0 · end of year $186,313

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,785,990 · end of year $1,628,497

  • 18 · Grants payable

    beginning of year $3,850,428 · end of year $4,548,900

  • 25 · Other liabilities

    beginning of year $0 · end of year $186,313

  • 27 · Net assets without donor restrictions

    beginning of year $37,739,966 · end of year $42,773,587

  • 28 · Net assets with donor restrictions

    beginning of year $7,130,274 · end of year $16,108,418

Mission and programs · 2023

Mission

TO HARNESS THE POWER OF FOOD INNOVATION AND MARKETS TO MAKE THE GLOBAL FOOD SYSTEM BETTER FOR THE PLANET, PEOPLE, AND ANIMALS BY SUPPORTING EFFORTS TO MAKE ALTERNATIVE PROTEINS ACCESSIBLE, AFFORDABLE, AND DELICIOUS.

Activities or mission (Part I)

WE ARE DEVELOPING THE ROADMAP FOR A SUSTAINABLE, SECURE, AND JUST PROTEIN SUPPLY. WE IDENTIFY THE MOST EFFECTIVE SOLUTIONS, MOBILIZE RESOURCES AND TALENT, AND EMPOWER PARTNERS ACROSS THE FOOD SYSTEM TO MAKE ALTERNATIVE PROTEINS ACCESSIBLE, AFFORDABLE, AND DELICIOUS.

  • SCIENCE AND TECHNOLOGY - GFI'S SCIENCE AND TECHNOLOGY DEPARTMENT ACCELERATES THE SCIENCE OF ALTERNATIVE PROTEIN TECHNOLOGIES. GFI'S SCIENTISTS ARE THE GLOBAL EXPERTS IN THIS SECTOR AND WORK TO ENSURE THAT A ROADMAP EXISTS FOR ALTERNATIVE PROTEIN INNOVATION, THAT THE BEST SCIENTISTS ARE ENGAGED IN RESEARCH AND DEVELOPMENT, AND THAT THE HIGHEST IMPACT AREAS OF ALTERNATIVE PROTEIN RESEARCH AND DEVELOPMENT ARE PRIORITIZED. GFI'S SCIENCE AND TECHNOLOGY TEAM IS FOCUSED ON THREE PRINCIPAL ACTIVITIES:1. ANALYZING CURRENT AND FUTURE TECHNICAL CHALLENGES AND IDENTIFYING THE MOST IMPORTANT RESEARCH AND DEVELOPMENT OPPORTUNITIES FOR ALTERNATIVE PROTEINS.2. MOBILIZING FUNDING FOR OPEN-ACCESS RESEARCH AND DEVELOPMENT OF ALTERNATIVE PROTEINS.3. INSPIRING AND SUPPORTING THE NEXT GENERATION OF INNOVATORS IN THE ALTERNATIVE PROTEIN INDUSTRY.

    Expenses $8,964,302 · Grants $3,771,362

  • POLICY AND GOVERNMENT RELATIONS - GFI'S POLICY AND GOVERNMENT RELATIONS DEPARTMENT IS FOCUSED ON REMOVING PUBLIC POLICY HURDLES AND DIRECTING PUBLIC INVESTMENT TO ACCELERATE PROGRESS ON THE WIDESPREAD ADOPTION OF ALTERNATIVE PROTEINS. THE POLICY AND GOVERNMENT RELATIONS TEAM PRIMARILY EDUCATES PUBLIC INSTITUTIONS, INCLUDING ELECTED OFFICIALS AND REGULATORS, AND USES IMPACT LITIGATION AS A STRATEGIC TOOL WHERE WARRANTED.

    Expenses $3,497,823

  • CORPORATE ENGAGEMENT - GFI'S CORPORATE ENGAGEMENT DEPARTMENT WORKS TO EDUCATE COMPANIES AND INVESTORS TO PRIORITIZE ALTERNATIVE PROTEINS, ACCELERATE ALTERNATIVE PROTEIN INNOVATION, AND SCALE THE SUPPLY CHAIN. THE CORPORATE ENGAGEMENT TEAM'S WORK HELPS ENABLE FOOD INDUSTRY PARTNERS TO DEVELOP AND BRING TO MARKET ALTERNATIVE PROTEIN PRODUCTS THAT ARE AS ACCESSIBLE, AFFORDABLE, AND DELICIOUS AS CONVENTIONAL MEAT, EGGS, AND DAIRY. THE CORPORATE ENGAGEMENT TEAM EDUCATES AND EMPOWERS ENTITIES IN ALL STAGES OF THE SUPPLY CHAIN, INCLUDING ENTREPRENEURS AND STARTUPS, INVESTORS, FOOD AND MEAT MANUFACTURERS, INGREDIENT COMPANIES, GROCERY RETAILERS, FOODSERVICE COMPANIES, AND EQUIPMENT MANUFACTURERS.

    Expenses $3,986,570 · Revenue $751,930

  • COMMUNICATIONS - GFI'S COMMUNICATIONS DEPARTMENT POSITIONS GFI AS A GLOBAL THOUGHT LEADER AND TRUSTED SOURCE OF DATA AND INSIGHTS ACROSS THE FIELD OF ALTERNATIVE PROTEINS AND THROUGHOUT THE ADJACENT FIELDS OF CLIMATE, BIODIVERSITY, GLOBAL HEALTH, AND SUSTAINABLE, SECURE FOOD SYSTEMS. WE ELEVATE THE EXPERTISE OF OUR STAFF AND WORK ACROSS THE ORGANIZATION AND FIELD TO PUBLISH AND DISSEMINATE ORIGINAL RESEARCH AND REPORTS, SECURE MEANINGFUL MEDIA COVERAGE, CONVENE AND PROMOTE COMMUNITY AND CAPACITY-BUILDING EVENTS, AND THOUGHTFULLY ENGAGE DECISION-MAKERS AND OTHER INFLUENCERS ACROSS THE PRIVATE AND PUBLIC SECTORS AND CIVIL SOCIETY TO POSITION ALTERNATIVE PROTEINS AS AN ESSENTIAL SOLUTION FOR A BETTER FOOD FUTURE.

    Expenses $4,527,238

  • INTERNATIONAL - GFI'S INTERNATIONAL PROGRAM CONSISTS OF TECHNICAL AND MANAGEMENT SUPPORT FROM ITS US TEAM TO ITS FOREIGN AFFILIATES, AS WELL AS ADDITIONAL INTERNATIONAL ACTIVITIES LED DIRECTLY BY THE US TEAM SUCH AS MANAGEMENT OF INTERNATIONAL SUB-GRANTS AND PROGRAMMATIC EVENTS. GFI'S GLOBAL MISSION IS TO ACCELERATE WORLDWIDE ENGAGEMENT OF SCIENTISTS IN ALTERNATIVE PROTEIN RESEARCH, DRIVE GLOBAL POLICY AND REGULATORY ADVANCEMENTS, FOSTER SUCCESSFUL GENERATION OF NEW COMPANIES, AND AMPLIFY MEDIA COVERAGE OF ALTERNATIVE PROTEIN INNOVATION.

    Expenses $3,043,737 · Grants $1,556,758

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bruce Friedrich

    PRESIDENT AND FOUNDER

    Total calculated
    $223,557
    From this org
    $207,125
    From related orgs
    $0
    Other
    $16,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,125
    Bonus
    $0
    Other
    $0
    Deferred
    $8,223
    Nontaxable benefits
    $8,209
    Filer's total
    $223,557

  • Vandhana Balasubramanian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Freston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cameron Icard

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Nabiha Basathia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joan Gass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anand Gopal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sarah David

    GEN. COUNSEL, SECRETARY, TREASURER

    Total calculated
    $201,417
    From this org
    $183,906
    From related orgs
    $0
    Other
    $17,511
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,906
    Bonus
    $0
    Other
    $0
    Deferred
    $7,393
    Nontaxable benefits
    $10,118
    Filer's total
    $201,417

  • Ilya Sheyman

    CEO

    Total calculated
    $218,556
    From this org
    $200,215
    From related orgs
    $0
    Other
    $18,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,215
    Bonus
    $0
    Other
    $0
    Deferred
    $8,223
    Nontaxable benefits
    $10,118
    Filer's total
    $218,556

  • Jessica Almy

    SVP - POLICY AND GOVERNMENT RELATIONS

    Total calculated
    $214,420
    From this org
    $182,346
    From related orgs
    $0
    Other
    $32,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,346
    Bonus
    $0
    Other
    $0
    Deferred
    $7,582
    Nontaxable benefits
    $24,492
    Filer's total
    $214,420

  • Susan McCausland-Halteman

    SVP - DEVELOPMENT

    Total calculated
    $199,611
    From this org
    $184,090
    From related orgs
    $0
    Other
    $15,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,090
    Bonus
    $0
    Other
    $0
    Deferred
    $7,312
    Nontaxable benefits
    $8,209
    Filer's total
    $199,611

  • Elizabeth Specht

    SVP - SCIENCE AND TECHNOLOGY

    Total calculated
    $206,779
    From this org
    $190,988
    From related orgs
    $0
    Other
    $15,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,988
    Bonus
    $0
    Other
    $0
    Deferred
    $7,582
    Nontaxable benefits
    $8,209
    Filer's total
    $206,779

  • Caroline Bushnell

    SVP - CORPORATE ENGAGEMENT

    Total calculated
    $192,610
    From this org
    $175,411
    From related orgs
    $0
    Other
    $17,199
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,411
    Bonus
    $0
    Other
    $0
    Deferred
    $7,081
    Nontaxable benefits
    $10,118
    Filer's total
    $192,610

  • Sheila Voss

    SVP - COMMUNICATIONS

    Total calculated
    $201,783
    From this org
    $178,598
    From related orgs
    $0
    Other
    $23,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,598
    Bonus
    $0
    Other
    $0
    Deferred
    $7,081
    Nontaxable benefits
    $16,104
    Filer's total
    $201,783

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE GFI COMPENSATION COMMITTEE, AN INDEPENDENT BODY, CONDUCTS AN ANNUAL REVIEW OF THE COMPENSATION OF THE PRESIDENT/FOUNDER, CHIEF EXECUTIVE OFFICER AND OTHER SENIOR LEADERSHIP. THE COMMITTEE EVALUATES THE REASONABLENESS OF COMPENSATION AS IT COMPARES TO REMUNERATION FOR SIMILARLY QUALIFIED INDIVIDUALS WITH COMPARABLE BACKGROUND, EXPERIENCE, EDUCATION, ETC. THIS IS ACCOMPLISHED BY REVIEWING SALARY AND BENEFITS DATA OF VARIOUS NONPROFIT ORGANIZATIONS, FOCUSING, WHEN POSSIBLE, ON THOSE WITH SIMILAR MISSIONS AND OF SIMILAR BUDGET SIZE. THE COMMITTEE USES A VARIETY OF SOURCES, INCLUDING SALARY AND BENEFIT SURVEYS PREPARED BY INDEPENDENT SOURCES, IRS 990'S POSTED ON WEBSITES THAT MONITOR/EVALUATE CHARITIES, ETC. THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS ITS REVIEW PROCEDURES AND PRESENTS THE FINDINGS TO THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED IN 2023.

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

  • MERIDIAN INSTITUTE

    $544,900

    RESEARCH OF ACCELERATION HUBS

  • JOHNS HOPKINS UNIVERSITY

    $350,000

    TOWARDS SUSTAINABLE CULTURED MEAT: A PREDICTIVE GENOME-SCALE ADIPOCYTE MODEL INFORMED BY MULTI-OMICS ANALYSIS AND MEDIA MANIPULATION

  • WASHINGTON STATE UNIVERSITY

    $249,997

    ENHANCING THE HIGH MOISTURE EXTRUSION PROTEIN TEXTURIZATION PROCESS THROUGH BETTER UNDERSTANDING OF COOLING DIE SCALABILITY AND THERMOCHEMICAL PROTEIN TEXTURIZATION MECHANISMS

  • UNIVERSITY OF MASSACHUSETTS AMHERST

    $249,991

    DEVELOPMENT AND IMPLEMENTATION OF A NOVEL COEXTRUSION TECHNOLOGY TO PRODUCE PLANT-BASED MEATS WITH LIPID MARBLING

  • UC REGENTS - UC DAVIS

    $75,000

    CREATING IMMORTALIZED CHICKEN MUSCLE STEM CELL LINE WITH INDUCIBLE MYOGENIC REJUVENATION. SIMULTANEOUS MODELING OF CELL GROWTH AND HYDRODYNAMICS FOR OPTIMAL DESIGN AND OPERATION OF LARGE-SCALE BIOREACTORS

  • NORTH CAROLINA STATE UNIVERSITY

    $25,000

    SCOPING CENTERS OF EXCELLENCE AND PREPARING AND SUBMITTING A PROPOSAL

  • REGENTS OF THE UNIVERSITY OF MINNESOTA

    $24,957

    SCOPING CENTERS OF EXCELLENCE AND PREPARING AND SUBMITTING A PROPOSAL

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • THE GOOD FOOD INSTITUTE ASIA PACIFIC

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · HK · income $1,290,854 · assets $247,891

    Directly controlled by THE GOOD FOOD INSTITUTE INC

  • ASSOCIACAO THE GOOD FOOD INST DO BRASIL

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · BR · income $1,677,974 · assets $656,444

    Directly controlled by THE GOOD FOOD INSTITUTE INC

  • THE GOOD FOOD INSTITUTE EUROPE ASBL

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · BE · income $2,749,385 · assets $590,357

    Directly controlled by THE GOOD FOOD INSTITUTE INC

  • ALTERNATIVE PROTEIN SOLUTIONS PRIVATE LIMITED

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · IN · income $722,892 · assets $204,069

    Directly controlled by THE GOOD FOOD INSTITUTE INC

  • THE GOOD FOOD INSTITUTE ISRAEL

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · IS · income $1,630,365 · assets $746,100

    Directly controlled by THE GOOD FOOD INSTITUTE INC

  • THE GOOD PROTEIN NETWORK LIMITED

    HARNESS THE POWER OF ALTERNATIVE PROTEINS TO IMPROVE THE GLOBAL FOOD SYSTEM · SN · income $1,150,034 · assets $402,035

    Directly controlled by THE GOOD FOOD INSTITUTE INC

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202433049349302123

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