FMI

Legal name: Food Marketplace Inc

Nonprofit profile at a glance

EIN
362900465
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Arlington, VA, US
Phone
202-452-8444
Rating confidence
Limited

Official website

Reported finances

Revenue
$44,887,297
Expenses
$40,169,357
Assets
$86,296,354
Liabilities
$21,128,069

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

Leadership & pay

140 people listed

Executive titles in this filing

  • LESLIE G SARASIN ESQ (PRESIDENT)
  • MARK BAUM (SENIOR VICE PRESIDENT)
  • JENNIFER HATCHER (SENIOR VICE PRESIDENT)
  • GIOVANNA VITA (SENIOR VICE PRESIDENT)
  • HILARY THESMAR (SENIOR VICE PRESIDENT)
  • DAVID FIKES (SENIOR VICE PRESIDENT)

Highest reported compensation

  • LESLIE G SARASIN ESQ (PRESIDENT): $6,206,721 total reported compensation
  • MARK BAUM (SENIOR VICE PRESIDENT): $786,183 total reported compensation
  • JENNIFER HATCHER (SENIOR VICE PRESIDENT): $623,860 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 works with and on behalf of the food industry to promote a safer, healthier, and more efficient food supply chain.

What it reported doing in 2024

Government relations- fmi's government relations program was created to serve as an information, advocacy and education resource on federal and state government relations issues important to the food industry. The government relations program identifies, monitors and advocates legislative and regulatory policy identified as priority items and communicates updates and action items to the fmi board and the membership.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 95
  • Accountability: 100
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.5%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 2.15; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 29.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 41st percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 116 of 116 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $6.2M · 140 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.6M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 2 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.

  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.