Food Co-Op Initiative
- Assets
- $300.1k
- Revenue
- $492.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Montgomery, MN
- Founding
- 01/2011
- Data as of
- 12/2022
- EIN
- 27-2252564
Organization Overview
Food Co-Op Initiative is located in Montgomery, MN. The organization was established in 2011. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2022, Food Co-Op Initiative employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Co-Op Initiative 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 12/2022, Food Co-Op Initiative generated $492.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $534.8k during the year ending 12/2022. While expenses have increased by 2.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ENCOURAGEMENT & SUPPORT IN THE DEVELOPMENT OF FOOD COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD CO-OP INITIATIVE PROVIDED CUSTOMIZED TRAINING TO STARTUPS, INCLUDING BOARD DEVELOPMENT, FINANCIAL FEASIBILITY, SITE SELECTION, ORGANIZING WORK PLANS, ETC. FOOD CO-OP INITIATIVE CO-HOSTED THE UP & COMING CONFERENCE FOR STARTUP FOOD CO-OPS INCLUDING AN EXTRA DAY OF SESSIONS PLANNED AND PRESENTED BY BLACK COOPERATIVE DEVELOPERS FOR THEIR PEERS. DEVELOPMENT SPECIALISTS FROM FOOD CO-OP INITIATIVE ALSO PRESENTED AND FACILITATED WORKSHOPS AT OTHER EVENTS AND PROVIDED ONE-ON-ONE SUPPORT TO STARTUP ORGANIZERS. WE CONTINUED A SERIES OF LIVE WEBINARS ADDRESSING TOPICAL ISSUES FOR STARTUP ORGANIZERS CALLED FCI LIVE. WE HAD RECORD ATTENDANCE AND ARE RECORDING THE WEBINARS SO THEY CAN BE ACCESSED FOR FREE ON OUR YOUTUBE CHANNEL. OUR PEER LEARNING NETWORK CONTINUES TO SERVE STARTUP CO-OPS FACING SIMILAR ORGANIZING ISSUES WHO MEET MONTHLY TO LEARN AND SHARE. THESE GROUPS HAVE BEEN TREMENDOUSLY SUCCESSFUL AND KEEP ORGANIZERS ENGAGED AND INFORMED, LEADING TO BETTER OUTCOMES. FOOD CO-OP INITIATIVE PRODUCED NEW RECORDED AND PRINTED TRAINING AND REFERENCE GUIDES FOR CO-OP ORGANIZERS. WE HOST A HOST WEB-BASED "CLASSROOM" TRAINING PROGRAMS FOR BOARDS OF DIRECTORS AND BUSINESS PLANNING. WE COLLABORATE EXTENSIVELY WITH OTHER DEVELOPMENT CENTERS. FOOD CO-OP INITIATIVE PROVIDED SUPPORT TO ABOUT 100 STARTUPS AND OVER 12 CO-OPS ARE EXPECTED TO OPEN IN THE NEXT 18 MONTHS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Dines Chair | OfficerTrustee | 1 | $0 |
Christina Clamp Vice Chair | OfficerTrustee | 1 | $0 |
Gerardo Espinoza Treasurer | OfficerTrustee | 1 | $0 |
Darnell Adams Secretary | OfficerTrustee | 1 | $0 |
Steve Cooke Director | Trustee | 1 | $0 |
John Guerra Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $281,542 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $490,442 |
| Total Program Service Revenue | $332 |
| Investment income | $288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $492,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $132,166 |
| Compensation of current officers, directors, key employees. | $26,433 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,455 |
| Pension plan accruals and contributions | $5,087 |
| Other employee benefits | $26,930 |
| Payroll taxes | $24,314 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,057 |
| Advertising and promotion | $32,757 |
| Office expenses | $21,307 |
| Information technology | $4,909 |
| Royalties | $0 |
| Occupancy | $9,375 |
| Travel | $21,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,505 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $423 |
| Insurance | $1,924 |
| All other expenses | $878 |
| Total functional expenses | $534,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,663 |
| Savings and temporary cash investments | $53,169 |
| Pledges and grants receivable | $95,285 |
| Accounts receivable, net | $0 |
| 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 | $994 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $300,111 |
| Accounts payable and accrued expenses | $16,725 |
| Grants payable | $83,040 |
| Deferred revenue | $0 |
| 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 | $99,765 |
| Net assets without donor restrictions | $159,346 |
| Net assets with donor restrictions | $41,000 |
| 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 | $300,111 |
Grants Awarded
Over the last fiscal year, Food Co-Op Initiative has awarded $76,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ALLENDALE CORNER STORE CO-OP PURPOSE: START-UP ASSISTANCE | $10,000 |
FERTILE GROUND FOOD COOPERATIVE PURPOSE: START-UP ASSISTANCE | $10,000 |
BAY CITY FOOD COOPERATIVE PURPOSE: START-UP ASSISTANCE | $8,000 |
MAD RIVER MARKET PURPOSE: START-UP ASSISTANCE | $8,000 |
NORTH FLINT FOOD MARKET PURPOSE: START-UP ASSISTANCE | $10,000 |
SOUTHEAST MEMPHIS FOOD CO-OP PURPOSE: START-UP ASSISTANCE | $10,000 |