Food Marketplace Inc
- Assets
- $65.2m
- Revenue
- $28.9m
- Investments
- $0.0
- Employees
- 86
- Location
- Arlington, VA
- Founding
- 09/1976
- Data as of
- 12/2021
- EIN
- 36-2900465
Organization Overview
Food Marketplace Inc is located in Arlington, VA. The organization was established in 1976. 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 12/2021, Food Marketplace Inc employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Marketplace 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 12/2021, Food Marketplace Inc generated $28.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $27.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO REPRESENT, EDUCATE, AND IMPROVE THE FOOD INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE QUALITY FOODS INSTITUTE (SQFI) - CREATED TO BE THE SINGLE MOST TRUSTED SOURCE OF GLOBAL FOOD SAFETY AND QUALITY CERTIFICATION. SQFI PROVIDES INFORMATION, TRAINING AND CERTIFICATION IN FOOD SAFETY BASED ON RECOGNIZED STANDARDS.
EVENTS - FMI HOLDS EVENTS ATTENDED BY MANY PEOPLE IN THE FOOD INDUSTRY INCLUDING RETAILERS, MANUFACTURERS, STUDENTS AND EDUCATORS. THE EVENTS ARE HELD AS A MEETING PLACE TO EXCHANGE IDEAS AND TO PROVIDE EDUCATION TO THE ATTENDEES.
GOVERNMENT RELATIONS- FMI'S GOVERNMENT RELATIONS PROGRAM WAS CREATED TO SERVE AS AN INFORMATION, ADVOCACY AND EDUCATION RESOURCE ON FEDERAL AND STATE GOVERNMENT RELATIONS ISSUES IMPORTANT TO THE FOOD INDUSTRY. THE GOVERNMENT RELATIONS PROGRAM IDENTIFIES, MONITORS AND ADVOCATES LEGISLATIVE AND REGULATORY POLICY IDENTIFIED AS PRIORITY ITEMS AND COMMUNICATIES UPDATES AND ACTION ITEMS TO THE FMI BOARD AND THE MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie G Sarasin ESQ President | Officer | 37 | $2,793,211 |
Mark Baum Senior Vice President | Officer | 38 | $636,638 |
Salvatore J Dicarlo Treasurer/cfo | Officer | 37 | $500,106 |
Jennifer Hatcher Senior Vice President | Officer | 38 | $498,827 |
Dagmar T Farr Secretary | Officer | 38 | $445,181 |
Giovanna Vita Senior Vice President | Officer | 38 | $354,728 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Matrix Group International Website, Association Management Software | 12/30/21 | $553,281 |
Delcor Tech Solutions Technology Consulting | 12/30/21 | $384,471 |
Transperfect Translations International Translation Services | 12/30/21 | $184,929 |
O'keefe Communications Llc Media And Event Production | 12/30/21 | $270,781 |
Marathon Strategies Llc Public Relations Consulting | 12/30/21 | $252,175 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $45,000 |
| 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 | $45,000 |
| Total Program Service Revenue | $24,954,915 |
| Investment income | $106,586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,515,114 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,170,763 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,532 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,864,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $6,803,319 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,922,610 |
| Pension plan accruals and contributions | $680,006 |
| Other employee benefits | $545,368 |
| Payroll taxes | $712,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $369,626 |
| Fees for services: Accounting | $87,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $272,256 |
| Fees for services: Other | $2,763,077 |
| Advertising and promotion | $74,804 |
| Office expenses | $397,629 |
| Information technology | $872,610 |
| Royalties | $1,008,399 |
| Occupancy | $2,215,688 |
| Travel | $66,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $484,792 |
| Interest | $4,512 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $601,197 |
| Insurance | $165,567 |
| All other expenses | $30,983 |
| Total functional expenses | $26,972,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,566,117 |
| Savings and temporary cash investments | $4,201,105 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $796,902 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,452 |
| Prepaid expenses and deferred charges | $628,320 |
| Net Land, buildings, and equipment | $3,268,031 |
| Investments—publicly traded securities | $53,950,295 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $760,343 |
| Total assets | $65,228,565 |
| Accounts payable and accrued expenses | $2,449,003 |
| Grants payable | $0 |
| Deferred revenue | $3,610,704 |
| 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 | $1,780,907 |
| Other liabilities | $16,146,118 |
| Total liabilities | $23,986,732 |
| Net assets without donor restrictions | $41,241,833 |
| 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 | $65,228,565 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Food Marketplace Inc has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
Fmi Foundation Arlington, VA PURPOSE: RESOURCE DATA ON TRENDS IN FAMILY MEALS AND SUPPORT FOR SUSTAINABILITY PLAYBOOK GUIDE | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Food Marketplace Inc Arlington, VA | $65,228,565 | $28,864,637 |
U S Grains Council Washington, DC | $32,884,401 | $25,401,517 |
Good Food Institute Inc Arlington, VA | $59,697,609 | $43,468,835 |
U S Wheat Associates Inc Arlington, VA | $10,059,888 | $16,530,559 |
Croplife America Arlington, VA | $12,856,651 | $16,559,084 |
Farm Credit Council Washington, DC | $26,254,503 | $9,583,866 |
International Dairy Foods Association Washington, DC | $19,193,960 | $9,213,468 |
Fertilizer Institute Arlington, VA | $18,942,460 | $8,038,493 |
United Fresh Produce Association Washington, DC | $12,439,759 | $7,316,558 |
Council For Responsible Nutrition Washington, DC | $3,435,827 | $6,857,561 |
American Society For Nutrition Inc Rockville, MD | $12,388,621 | $7,002,312 |
Snac International Arlington, VA | $7,767,502 | $4,045,674 |