Foundation of Food Processing Suppliers Association

Nonprofit profile at a glance

EIN
521304324
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Mclean, VA, USA
Phone
7037612600
Rating confidence
Limited

Official website

Reported finances

Revenue
$-137,221
Expenses
$227,717
Assets
$4,396,368
Liabilities
$59,270

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DAVID SECKMAN (PRES. & CEO (UNTIL 3/24; 10/24-12/24))
  • MATT OTT (PRESIDENT & CEO (FROM 3/24 TO 10/24))

Highest reported compensation

  • DAVID SECKMAN (PRES. & CEO (UNTIL 3/24; 10/24-12/24)): $649,701 total reported compensation
  • ROBYN ROCHE (CFO): $345,047 total reported compensation
  • MATT OTT (PRESIDENT & CEO (FROM 3/24 TO 10/24)): $335,986 total reported compensation

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

Overview

Mission

To fund select educational, scientific and literary projects, activities, or programs of the industries served by fpsa members in such a manner that fpsa members are benefited through industry betterment due to improved quality control and professional standards, enhanced recognition or image, and improved processor relationships.

What it reported doing in 2024

Grants & scholarships: the foundation's grant programs benefit the chicago food depository and food safety research. The foundation provides scholarships to undergraduate food engineers.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 67
  • Transparency & Controls: 65
  • Accountability: 91
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: 97.5%; rating input score 98; 58th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -265.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 19.31; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 57.4%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 47th percentile among comparable filings
  • Revenue growth: -10% per year; rating input score 0; 32nd percentile among comparable filings
  • Asset growth: -0.4% per year; rating input score 0; 38th percentile among comparable filings

Details

  • Where the money goes: 89.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $203K in reported program spending
  • Leadership: top reported pay $650K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.