Fmi Foundation

Nonprofit profile at a glance

EIN
521970352
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Arlington, VA, USA
Phone
2024528444
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Corporate Foundations

Official website

Reported finances

Revenue
$1,824,078
Expenses
$1,526,563
Assets
$11,534,955
Liabilities
$522,099

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

Leadership & pay

26 people listed

Executive titles in this filing

  • LESLIE G SARASIN (PRESIDENT)

Highest reported compensation

  • LESLIE G SARASIN (PRESIDENT): $6,206,721 total reported compensation
  • SALVATORE J DICARLO (CFO/TREASURER): $610,955 total reported compensation
  • DAVID FIKES (SENIOR VP/SECRETARY): $386,429 total reported compensation

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

Overview

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.

What it reported doing in 2024

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 provides 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.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 71
  • Accountability: 77
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.1%; rating input score 73
  • Program expense ratio: 35.6%; rating input score 36
  • Fundraising efficiency: $0.99 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 16.3%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 7.56; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 73.1% of revenue deployed · 35.6% of spending went to programs
  • Governance: 22 of 22 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $543K in reported program spending
  • Leadership: top reported pay $6.2M · 26 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 7 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: Program expense ratio scored 36/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.