Feeding Wilmington Inc

Nonprofit profile at a glance

EIN
922172394
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9843391055
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Food Banks, Pantries

Reported finances

Revenue
$113,076
Expenses
$544,999
Assets
$12,004,813
Liabilities
$11,892,452

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

Leadership & pay

5 people listed

Highest reported compensation

  • ASHLEY MCCUMBER (FORMER CHAIRMAN (1/1 - 6/4/2024)): $319,648 total reported compensation
  • MICKEY HOLT (CHAIR-ELECT): $297,723 total reported compensation

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

Overview

Mission

Feeding wilmington, inc., a North Carolina nonprofit corporation was formed to support food bank of central & eastern North Carolina, inc., a North Carolina nonprofit corporation ("fbcenc"). Fbcenc's mission is to provide food for people at risk of hunger in central and eastern North Carolina and serves a network of more than 700 partner agencies such as soup kitchens, food pantries, shelters and programs for children and adults through distribution centers in durham, greenville, new bern, raleigh, the sandhills (southern pines) and wilmington. Feeding wilmington will take on various projects to support fbcenc and carry out its tax exempt purposes.

What it reported doing in 2024

Feeding wilmington, in furtherance of its mission of supporting fbcenc, was formed to assist fbcenc with the construction, equipping and development of a new approximately 32,000 square foot food distribution facility (the "project") located at 900 and 1000 greenfield street, wilmington, North Carolina (the "property"). Fbcenc owns the property and is expected to contribute the property to feeding wilmington. Feeding wilmington will secure financing for the project, complete the construction related to the project and then (i) lease the completed project to fbcenc for a term of [25] years and (ii) lease certain equipment related to the project to fbcenc for a term of [7] years with an option to purchase such equipment at the conclusion of the term. Fbcenc is expected to operate the project as food distribution facility. Feeding wilmington will actively manage the project as its landlord.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 65
  • Accountability: 70
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 52.3%; rating input score 52
  • Fundraising efficiency: $1.66 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -382%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 22.03; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 8.9%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 61.8% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -73.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 52.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $285K in reported program spending
  • Leadership: top reported pay $320K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.