Feed My Starving Children

According to the Feed My Starving Children (FMSC) audit of February 28, 2023 (Note 10, Contributions of nonfinancial assets):

FMSC received in-kind donated goods and services in fiscal 2023 on which it placed a total value of $18,938,338, which included donated labor that the organization valued at $18,845,634.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Feed My Starving Children audit of February 28, 2023 (Note 7, Promissory Note):

"On April 18, 2020, the Organization received a Paycheck Protection Program loan from the Small Business Administration (SBA) for $2,587,535. Under the program, the loan may be forgiven for the portion of funds spent on eligible expenses. The Organization submitted its application for forgiveness to the bank in March 2021, through which it obtained the loan. On June 15, 2021, the SBA notified the Organization that the loan and accrued interest of $29,897 had been forgiven. During the year ended February 28, 2022, the forgiven loan and accrued interest are recorded in revenues and other support on the statement of activities."

According to the Feed My Starving Children audit of February 28, 2023 (Note 12, Purchase Commitments):

"As of February 28, 2023, the Organization's future obligation for the purchase of raw materials under contracts totaled approximately $20 million."

According to the Feed My Starving Children (FMSC) tax filing for the fiscal year ended February 28, 2023, FMSC reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding the organization paying or accruing compensation to officers, directors, trustees, key employees and highest compensated employees contingent on the revenues of the organization (IRS Form 990, Schedule J, Part I, Line 5a):

"The Organization accrues an annual incentive based on the attainment of certain organizational goals including revenues raised, meals produced and expense management."

FMSC reports "Bonus & incentive compensation" payments to five individuals in calendar year 2023. The CEO, Mark Crea, received a reported $59,000 and had reported total compensation of $318,755. The other four reported "Bonus & incentive compensation" payments ranged from $14,772 to $19,001, with associated total compensation ranging from $167,548 to $212,273 (IRS Form 990, Schedule J, Part II).