Specialty Food Association Inc
Specialty Food Association Inc. maintains strong financial health with consistent surpluses and zero reported officer compensation.
EIN: 131934121 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $67.1M |
| Total Expenses | $25.9M |
| Program Spending | 75% |
| Net Assets | $67.4M |
| Transparency Score | 85/100 |
Is Specialty Food Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Specialty Food Association Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Specialty Food Association Inc
Specialty Food Association Inc (EIN: 131934121) is a nonprofit organization based in New York, NY. The organization reported total revenue of $67.1M and total assets of $90.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Specialty Food Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Specialty Food Association Inc is a major nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $28.2M |
| Total Expenses | $25.9M |
| Surplus / Deficit | +$2.3M |
| Total Assets | $84.4M |
| Total Liabilities | $17.0M |
| Net Assets | $67.4M |
| Operating Margin | 8.2% |
| Debt-to-Asset Ratio | 20.1% |
| Months of Reserves | 39.2 months |
Financial Health Grade: A
In 2023, Specialty Food Association Inc reported a surplus of $2.3M with revenue exceeding expenses, holds 39.2 months of operating reserves (strong position), has a debt-to-asset ratio of 20.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Specialty Food Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.3% | +18.1% | +11.6% |
| 2022 | +115.8% | +50.3% | +8.4% |
| 2021 | -39.6% | -36.1% | -9.1% |
| 2020 | -20.4% | -29.5% | +2.2% |
| 2019 | +0.9% | +11.9% | +5.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Specialty Food Association Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Specialty Food Association Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 20.1%.
Executive Compensation Analysis
The Specialty Food Association Inc. consistently reports 0% officer compensation across all available filings, including the latest in 2023. This indicates either a highly efficient volunteer executive structure or that executive compensation is categorized differently, which would require further investigation to fully understand the true cost of leadership relative to the organization's multi-million dollar revenue and asset base.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Specialty Food Association Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes efficiency assessment difficult.
- NTEE Code is unknown, which limits understanding of its specific charitable sector and comparative analysis.
Strengths
The following positive indicators were identified for Specialty Food Association Inc:
- Consistent financial surpluses, such as $2,294,499 in 2023, indicating sound financial management.
- Significant and growing asset base, reaching $84,400,298 in 2023, demonstrating strong financial health.
- Zero reported officer compensation across all filings, suggesting high efficiency in executive costs or a volunteer leadership model.
- Healthy asset-to-liability ratio, with assets of $84,400,298 significantly exceeding liabilities of $16,964,516 in 2023.
Frequently Asked Questions about Specialty Food Association Inc
Is Specialty Food Association Inc a legitimate charity?
Specialty Food Association Inc (EIN: 131934121) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $67.1M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Specialty Food Association Inc spend its money?
Specialty Food Association Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Specialty Food Association Inc tax-deductible?
Specialty Food Association Inc is registered as a tax-exempt nonprofit (EIN: 131934121). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Specialty Food Association Inc's spending goes to programs?
Specialty Food Association Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Specialty Food Association Inc located?
Specialty Food Association Inc is headquartered in New York, New York and files with the IRS under EIN 131934121.
How many years of IRS 990 filings does Specialty Food Association Inc have?
Specialty Food Association Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $67.1M in total revenue.
Is Specialty Food Association Inc. financially stable?
Yes, the organization appears financially stable, consistently generating surpluses (e.g., $2,294,499 in 2023) and growing its assets from $64,603,197 in 2015 to $84,400,298 in 2023.
How does Specialty Food Association Inc. manage executive compensation?
The organization consistently reports 0% officer compensation in its IRS 990 filings, suggesting either a volunteer executive leadership or that compensation is reported under different expense categories.
Has the organization's revenue been consistent?
Revenue has been generally consistent, ranging from $14,537,504 in 2021 (likely due to pandemic impacts) to $31,371,451 in 2022, with the latest reported revenue at $28,151,463 in 2023.
What is the trend in the organization's assets?
The organization's assets have shown a strong upward trend, increasing from $64,603,197 in 2015 to $84,400,298 in 2023, indicating healthy financial growth and accumulation of resources.
Filing History
IRS 990 filing history for Specialty Food Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Specialty Food Association Inc's revenue has grown by 23%, moving from $22.9M to $28.2M. Total assets increased by 64.8% over the same period, from $51.2M to $84.4M. Total functional expenses rose by 36%, from $19.0M to $25.9M. In its most recent filing year (2023), Specialty Food Association Inc reported a surplus of $2.3M, with revenue exceeding expenses. The organization holds $17.0M in liabilities against $84.4M in assets (debt-to-asset ratio: 20.1%), resulting in net assets of $67.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $28.2M | $25.9M | $84.4M | $17.0M | — | — |
| 2022 | $31.4M | $21.9M | $75.6M | $15.7M | — | View 990 |
| 2021 | $14.5M | $14.6M | $69.8M | $11.5M | — | View 990 |
| 2020 | $24.1M | $22.8M | $76.8M | $20.1M | — | — |
| 2019 | $30.2M | $32.3M | $75.1M | $20.4M | — | View 990 |
| 2018 | $29.9M | $28.9M | $71.4M | $20.2M | — | View 990 |
| 2017 | $29.1M | $26.7M | $76.4M | $21.8M | — | View 990 |
| 2016 | $28.7M | $25.2M | $68.4M | $20.7M | — | View 990 |
| 2015 | $26.9M | $26.3M | $64.6M | $21.9M | — | View 990 |
| 2014 | $27.6M | $24.2M | $64.8M | $20.7M | — | View 990 |
| 2013 | $25.3M | $23.0M | $60.3M | $19.2M | — | View 990 |
| 2012 | $22.9M | $20.4M | $55.4M | $17.6M | — | View 990 |
| 2011 | $22.9M | $19.0M | $51.2M | $16.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $28.2M, expenses of $25.9M, and assets of $84.4M (revenue -10.3% year-over-year).
- 2022: Revenue of $31.4M, expenses of $21.9M, and assets of $75.6M (revenue +115.8% year-over-year).
- 2021: Revenue of $14.5M, expenses of $14.6M, and assets of $69.8M (revenue -39.6% year-over-year).
- 2020: Revenue of $24.1M, expenses of $22.8M, and assets of $76.8M (revenue -20.4% year-over-year).
- 2019: Revenue of $30.2M, expenses of $32.3M, and assets of $75.1M (revenue +0.9% year-over-year).
- 2018: Revenue of $29.9M, expenses of $28.9M, and assets of $71.4M (revenue +3.0% year-over-year).
- 2017: Revenue of $29.1M, expenses of $26.7M, and assets of $76.4M (revenue +1.5% year-over-year).
- 2016: Revenue of $28.7M, expenses of $25.2M, and assets of $68.4M (revenue +6.6% year-over-year).
- 2015: Revenue of $26.9M, expenses of $26.3M, and assets of $64.6M (revenue -2.7% year-over-year).
- 2014: Revenue of $27.6M, expenses of $24.2M, and assets of $64.8M (revenue +9.4% year-over-year).
- 2013: Revenue of $25.3M, expenses of $23.0M, and assets of $60.3M (revenue +10.3% year-over-year).
- 2012: Revenue of $22.9M, expenses of $20.4M, and assets of $55.4M (revenue +0.1% year-over-year).
- 2011: Revenue of $22.9M, expenses of $19.0M, and assets of $51.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Specialty Food Association Inc:
Data Sources and Methodology
This transparency report for Specialty Food Association Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.