Vermont Foodbank

What it reported doing in 2024

In fiscal year 2025, Vermont foodbank distributed more than 14.1 million pounds of donated food, usda foods, and purchased food directly to individuals and to more than 220 network partners. Of that, over 4.4 million pounds of fresh fruits and vegetables were distributed, and 50% of the food distributed was fresh food (produce, meat, eggs, and dairy). Vermont foodbank also worked with almost 225 Vermont farms to purchase, gather and share close to $1.9 million worth of Vermont-grown food. During the same period, the foodbank funded 369 grants totaling close to $1.3m to network and program partner organizations. These grants, which reached every county in Vermont, deepened our impact and helped solve targeted challenges to food access in local communities (examples include increasing refrigeration capacity to enabling purchasing fresh produce from local, small-scale farms).the foodbank also worked with 77 partners, housing sites, hospitals, and schools to host a total of 760 fresh food distribution events across all Vermont counties, distributing fresh foods to an average of more than 10,000 households a month. The Vermont foodbank continues to see increases in expenses over pre-pandemic budgets, at the same time that federal food and funds are being cut and policy changes are making it harder for people to meet basic needs, increasing the need for charitable food. Vermont foodbank has relied on reserves to continue to meet this increased level of need. Revenue in fiscal year 2025 met projections, mainly through private philanthropy, and a $1m appropriation from the state of Vermont.a 2022 study by the university of Vermont shows that 2 in 5 people in Vermont experienced food insecurity in the 12 months prior. This data is supported by 2023 data shared by the usda, which also shows a second year in a row of rising food insecurity rates. These studies show that food insecurity is far higher than the 9.6% food insecurity rate Vermont saw before the pandemic, and also higher than at any point in 2020 or 2021, during the height of the pandemic impacts. Federal policy changes are increasing food and economic insecurity, and data to measure the impacts of these changes may not be available by the federal government in the future. The level of need is beyond what our network of community organizations was built to address. The Vermont foodbank, the state's only food bank, is an integral part of Vermont's food security response system. Increased levels of food insecurity over the last two years have strained resources at both Vermont foodbank and its network of more than 220 food access agencies (food shelves, meal sites, etc.). Philanthropic support remains strong, but the resources needed to sustain increased levels of operations are outpacing financial resources and federal cuts are impacting both resources to Vermont foodbank and its partners as well as increasing food insecurity for people in Vermont. Vermont foodbank is advocating alongside partners for increased state support to help close this gap.

Financial Efficiency

• Mission deployment rate: 77.2%; rating input score 77
• Program expense ratio: 82.6%; rating input score 83
• Fundraising efficiency: $17.5 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • 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; 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; 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: 3.3%; rating input score 47; 47th percentile among comparable filings
• Total-asset coverage ratio: 1.03; rating input score 37; 37th percentile among comparable filings
• Liabilities to assets ratio: 0.1; rating input score 74; 74th percentile among comparable filings
• Officer compensation ratio: 3.3%; rating input score 66; 66th percentile among comparable filings

Growth

• Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 56th percentile among comparable filings
• Asset growth: 14.2% per year; rating input score 100; 79th percentile among comparable filings