Specialty Food Association Inc
- Assets
- $76.8m
- Revenue
- $24.1m
- Investments
- $4.3m
- Employees
- 72
- Location
- New York, NY
- Founding
- 03/1985
- Data as of
- 12/2020
- EIN
- 13-1934121
Organization Overview
Specialty Food Association Inc is located in New York, NY. The organization was established in 1985. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2020, Specialty Food Association Inc employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Specialty Food Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2020, Specialty Food Association Inc generated $24.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $22.8m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE SPECIALTY FOOD ASSOCIATION, INC. (SFA) IS A TRADE ASSOCIATION WHICH, THROUGH ITS MEDIA PROGRAMS, THE FANCY FOOD SHOW, AND ITS MEMBERSHIP OF OVER 3,800 SPECIALTY FOOD COMPANIES WORKS TO FOSTER A THRIVING SPECIALTY FOODS MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS.
CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS.
NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS.
CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS.
CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS.
NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS.
CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS.
CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS.
NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Tanner VP Phil. & Industry Rel. Thru Dec 2020 | 39.75 | $868,957 | |
Phillip M Kafarakis President (thru May 2020) | Officer | 39.9 | $567,837 |
Irene Math Svp, Finance & Strategy / Treasurer | Officer | 40 | $333,199 |
William Lynch President | Officer | 39.9 | $328,642 |
Enrique Camacho Vp, Tech. & Innov Thru June 2020 | Officer | 40 | $261,375 |
Leo Squatrito Vp, Member Dev. & Outreach | Officer | 40 | $222,365 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Freeman Exhibit Contractor | 12/30/20 | $1,439,543 |
Freeman Events Technology (Av) Av Productions | 12/30/20 | $491,456 |
Arent Fox Legal Services | 12/30/20 | $555,519 |
Fixation Marketing Agency | 12/30/20 | $444,289 |
Caktus Consulting Goup Llc Web Design | 12/30/20 | $273,965 |
Arent Fox Legal Services | 12/30/20 | $555,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $12,643,572 |
| Investment income | $1,297,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,125,982 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,069,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,972 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,458,034 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,745,385 |
| Pension plan accruals and contributions | $196,399 |
| Other employee benefits | $563,481 |
| Payroll taxes | $495,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $644,880 |
| Fees for services: Accounting | $78,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $162,428 |
| Fees for services: Other | $2,710,245 |
| Advertising and promotion | $480,579 |
| Office expenses | $1,001,014 |
| Information technology | $1,387,272 |
| Royalties | $0 |
| Occupancy | $890,373 |
| Travel | $374,232 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,796,819 |
| Interest | $101,535 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $661,605 |
| Insurance | $260,485 |
| All other expenses | $199,143 |
| Total functional expenses | $22,812,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,368,420 |
| Savings and temporary cash investments | $8,122,135 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,343 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $856,591 |
| Net Land, buildings, and equipment | $2,151,389 |
| Investments—publicly traded securities | $51,047,018 |
| Investments—other securities | $4,312,625 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $818,788 |
| Total assets | $76,782,309 |
| Accounts payable and accrued expenses | $2,318,618 |
| Grants payable | $0 |
| Deferred revenue | $4,111,626 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,394,398 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,265,760 |
| Total liabilities | $20,090,402 |
| Net assets without donor restrictions | $56,691,907 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $76,782,309 |
Grants Awarded
Over the last fiscal year, Specialty Food Association Inc has awarded $30,339 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Brooklyn, NY PURPOSE: PROGRAMMATIC SUPPORT | $20,000 |
New York, NY PURPOSE: PROGRAMMATIC SUPPORT | $10,339 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Specialty Food Association Inc New York, NY | $76,782,309 | $24,069,397 |
National Frozen And Refrigerated Foods Association Inc Harrisburg, PA | $9,021,676 | $3,278,446 |
Association Of Food Industries Inc Neptune, NJ | $2,020,025 | $2,208,681 |
Massachusetts Food Association Boston, MA | $2,050,707 | $1,027,955 |
Connecticut Food Assoc West Hartford, CT | $970,186 | $845,112 |
New York Maple Producers Assoc Inc Syracuse, NY | $482,259 | $792,299 |
Rutland County Agricultural Society Inc Rutland, VT | $5,963,150 | $568,669 |
Pennsylvania Pork Producers Council Inc Harrisburg, PA | $569,090 | $564,624 |
American Vegan Society Malaga, NJ | $607,122 | $267,283 |
Northeast Organic Dairy Producers Alliance Inc Deerfield, MA | $69,773 | $0 |
Massachusetts Tree Wardens And Foresters Association Inc Norwell, MA | $491,358 | $0 |
Wine And Food Society Inc Bedminster, NJ | $149,147 | $125,874 |