Salem Pantry Inc

What it reported doing in 2024

The salem pantry (tsp) is dedicated to working collaboratively to empower diverse local and regional communities by ensuring convenient, reliable access to healthy food. Since its founding in 1991 as a small, monthly food pantry, tsp has evolved significantly in response to the growing and changing needs of the community. In 2019, recognizing persistent gaps in equitable food access, the organization embarked on a major transformation of its programs, service model, and infrastructure. Today, the salem pantry operates a network of food access programs that prioritize dignity, choice, and consistency. Programs include: "the market, a no-cost grocery store open five days a week where community members may shop weekly for fresh produce, dairy, eggs, frozen meats, nonperishables, and culturally relevant staples. "the mobile pantry program, which hosts weekly farmers market-style distributions in partnership with schools, health centers, senior housing sites, salem state university, and other community organizations across salem and neighboring communities. In 2023, tsp introduced the truck, a custom-built mobile pantry vehicle that creates a welcoming, on-site shopping experience. "the home delivery program, established during the covid-19 pandemic and sustained to support seniors, disabled residents, and others unable to access in-person food resources. "the north of boston food distribution hub, launched in 2020 and operated in partnership with the greater boston food bank, which provides shared food distribution for 21 food access organizations across the region and moves an average of 100,000 pounds of food each month. The greater boston food bank recently made a significant investment in tsp to support the hub's expansion. Across these programs, the salem pantry now supports more than 31,450 individuals each year, representing approximately 9,500 unique households, and distributes nearly 3.4 million pounds of food annually. Tsp is founded on the belief that access to nutritious food is essential to physical, mental, and social well-being. As food costs continue to rise, snap benefits are cut and health care increases, more households are struggling to afford healthy groceries. Tsp remains a vital resource for families across the north shore, providing consistent, dignified access to the fresh, healthy foods needed to thrive.

Financial Efficiency

• Mission deployment rate: 96.6%; rating input score 97
• Program expense ratio: 91.9%; rating input score 92
• Fundraising efficiency: $26.51 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• 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: 100%; rating input score 100; 63rd 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: NotApplicable
  • 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: -5%; rating input score 20; 20th percentile among comparable filings
• Total-asset coverage ratio: 0.37; rating input score 12; 12th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
• Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

• Program expense growth: 33.5% per year; rating input score 100; 94th percentile among comparable filings
• Revenue growth: 29.9% per year; rating input score 100; 94th percentile among comparable filings
• Asset growth: 31.5% per year; rating input score 100; 94th percentile among comparable filings