VEAP Inc

Nonprofit profile at a glance

EIN
416175999
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Bloomington, MN, USA
Phone
9529558311
Rating
89
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$14,675,405
Expenses
$13,696,177
Assets
$8,635,741
Liabilities
$3,533,156

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • Kari Thompson (President and CEO)

Highest reported compensation

  • Kari Thompson (President and CEO): $214,349 total reported compensation
  • Jennifer Harrison (VP of Advancement): $186,696 total reported compensation
  • Caley Long (Marketing Director): $125,713 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Together we create pathways to stronger, more hopeful communities through access to healthy food, housing stability, and supportive services.

What it reported doing in 2025

VEAP's Food and Basic Needs Program provides access to healthy, fresh foods for households experiencing food-insecurity. The program includes an on-site food pantry, mobile food pantry, student hunger initiative (supplemental food for school-age children), and food deliveries to seniors or individuals with mobility barriers. VEAP operates one of the largest food pantries in the state with 255,397 total Food and Basic Needs program services provided, including 49,933 express packs (up to 50 pounds of groceries for walk-in visitors) in 2025. Of the nearly 4.1 million pounds of food that was distributed, over 44% was fresh fruits and vegetables. VEAP offers fresh fruits and vegetables, dairy, deli, bakery, and a variety of food choices that include protein, meats, canned goods, and non-perishable items. Participants may visit the on-site food pantry/mobile pantry as needed, typically 1-2 times per month.VEAP addressed transportation barriers to healthy food access by providing full-service food deliveries to 10,527 seniors or qualifying individuals in 2025. The mobile food pantry provided 43,837 individuals with access to healthy foods at designated sites in areas of high need located throughout VEAP's service area. Food was provided throughout the school year to 14,703 students in the Edina, Richfield, and Bloomington School Districts. VEAP's state-of-the-art commercial kitchen served as a business incubation site for start-up businesses that produced food for market wholesale.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 91
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.6%; rating input score 86
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: $31.45 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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; 64th 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: 6.7%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 85.6% of revenue deployed · 91.7% of spending went to programs
  • Governance: 18 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $12.6M in reported program spending
  • Leadership: top reported pay $214K · 24 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.