Food Marketing Educational Foundation
- Assets
- $4.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 03/1994
- Data as of
- 05/2023
- EIN
- 23-2741739
Organization Overview
Food Marketing Educational Foundation is located in Philadelphia, PA. The organization was established in 1994. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Marketing Educational Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Food Marketing Educational Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $479.3k during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SUPPORT FOOD MARKETING EDUCATION; TO PROVIDE SERVICES TO FOOD MARKETING STUDENTS, INCLUDING SCHOLARSHIP AID, RECRUITING, INTERNSHIPS, COOPERATIVE EDUCATION, COUNSELING AND PLACEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BOARD OF GOVERNORS IS CHARGED WITH FUNDRAISING. THAT IS PRIMARILY ACHIEVED WITH ASSISTANCE FROM OUR BOARD AND PARTNER COMPANIES. COMPANIES ARE ASKED TO CONTRIBUTE TO THE FOOD MARKETING EDUCATIONAL FOUNDATION PROGRAM'S FUTURE FOOD INDUSTRY LEADERS PROGRAM. THESE FUNDS ARE GIVEN TO THE FOUNDATION TO SUPPORT THE FOOD MARKETING PROGRAM AND ITS STUDENTS IN THE WAY OF SCHOLARSHIPS, EXPERIENTIAL LEARNING, EVENTS, OPERATING BUDGET, SUMMITS, CONFERENCES, PROGRAM ENROLLMENT, CO-OP, INTERNSHIPS, MENTORING, ETC. AS A RESULT OF THE FUNDRAISING EFFORTS, STUDENTS HAVE BEEN ABLE TO REMAIN IN SCHOOL WHILE OBTAINING THE EDUCATIONAL FUNDAMENTALS NEEDED TO PREPARE THEM FOR POSITIONS AND CAREERS AFTER COLLEGE. OUR FUNDRAISING CAMPAIGNS HAVE HELPED GENERATE AN EFFICIENT AND EFFECTIVE WAY (CONTINUED IN SCHEDULE O) TO SUPPORT A STUDENT TALENT PORTAL FOR OUR INDUSTRY, AS WELL AS ENHANCE MOST COMPANIES' CURRENT WORKFORCE. DURING FY23, 10 STUDENTS WERE AWARDED $36,500 IN SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judith Spires Chair | OfficerTrustee | 2 | $0 |
Michael Kelly Vice Chair | OfficerTrustee | 2 | $0 |
George Knobloch Vice Chair/treasurer | OfficerTrustee | 2 | $0 |
Joseph J Bivona Secretary/executive Director | OfficerTrustee | 5 | $0 |
Bruce Allen Governor | Trustee | 1 | $0 |
Stan Barrasso Governor | Trustee | 1 | $0 |
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 | $51,502 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,502 |
| Total Program Service Revenue | $873,995 |
| Investment income | $71,834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $474,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,472,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,616 |
| Fees for services: Accounting | $25,501 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,506 |
| All other expenses | $513 |
| Total functional expenses | $479,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,033,228 |
| Savings and temporary cash investments | $571,201 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,650,304 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,269,733 |
| Accounts payable and accrued expenses | $118,322 |
| Grants payable | $0 |
| Deferred revenue | $35,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $153,322 |
| Net assets without donor restrictions | $3,635,659 |
| Net assets with donor restrictions | $480,752 |
| 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 | $4,269,733 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Council For History Education Inc University Heights, OH | $720,081 | $1,487,549 |
Lucis Trust And Arcane School New York, NY | $4,139,236 | $731,110 |
Alliance For Healthy Youth Akron, OH | $238,791 | $689,363 |
Food Marketing Educational Foundation Philadelphia, PA | $4,269,733 | $1,472,044 |
Center For Continuing Education Inc Mamaroneck, NY | $419,601 | $408,311 |
Afikim Inc Brooklyn, NY | $1,010,352 | $27,928 |
Pennsylvania School Age Child Care Alliance North Versailles, PA | $33,328 | $0 |
Association For Continuing Education Case Western Reserve<uni Cleveland, OH | $148,519 | $0 |
Foundation Of Arts Music And Education Bedford Hills, NY | $16,798 | $22,991 |
Maurice A Recanati Foundation Inc Bearsville, NY | $60,420 | $3,122 |