Black Farmer Fund Inc

Nonprofit profile at a glance

EIN
842310349
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
New York, NY, USA
Phone
3472012974
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$12,437,329
Expenses
$5,573,984
Assets
$26,511,647
Liabilities
$9,441,031

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • OLIVIA WATKINS (CO-EXECUTIVE DIRECTOR / TREASURER)
  • MELANIE ALLEN (CO-EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHARLES WADE (INVESTMENT DIRECTOR): $204,121 total reported compensation
  • OLIVIA WATKINS (CO-EXECUTIVE DIRECTOR / TREASURER): $156,302 total reported compensation
  • MELANIE ALLEN (CO-EXECUTIVE DIRECTOR): $133,761 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This mission of black farmer fund is to build community wealth & health by investing in black agricultural businesses of the northeast.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 79
  • Accountability: 85
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39%; rating input score 39
  • Program expense ratio: 78.3%; rating input score 78
  • Fundraising efficiency: $38.35 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 55.2%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 4.76; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 11.1%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 58.7% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 47.9% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 57.8% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 39% of revenue deployed · 78.3% of spending went to programs
  • Governance: 6 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.4M in reported program spending
  • Leadership: top reported pay $204K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.