Question.2445 - Questions 1. What is the organization’s name? The organization that Group 1 chose to analyze was Feeding America. 2. What is their purpose/mission? Feeding America is the nation’s largest domestic hunger-relief program. They provide resources to 200 food banks across the country. They feed roughly 40 million people including 12 million children and 7 million seniors. 3. What is their fiscal year? Feeding America’s fiscal year is July 1 - Jun 30. a. What is the year of this filing? The most recent filing that is up for the public is 2020. 4. For the last two years what is their revenue? Their total public support and revenue for 2020 was $3,644,826,000. In 2019, their total public support and revenue was $2,804,595,000. a. What are their sources of revenue? The sources of their revenue range from government assistance to public donations. In 2020, 1.7 billion meals were from government programs, 1.5 billion meals were donated by grocery and retail stores, 698 million meals were purchased from manufacturers and distributors to fill donation gaps, 626 million meals consisted of donations by manufacturing companies, 600 million meals were from farmers and growers providing fresh produce, and 232 million meals were provided by SNAP. This resulted in more than 5 billion meals for neighborhoods in need. 5. What are their expenses for the last two years? The expenses for 2020 is 3,385,048,000 and for 2019 is 2,871,893,000 a. What are the major categories of expenses and how much have they spent in those categories? Feeding America's first major expense is Food Procurement in 2020 the expense was 3,221,342,000, second expense is Member Services 94,759,00. b. Break down the categories by amount and percentages c. What does this break down of expenses say about the organization? Are they spending their money wisely, in your opinion? Why, why not? Does it make you think they are a worthwhile charity? 6. Who are some of the principal employees of the organization, how many hours a week do they work, what is their remuneration? a. Do you feel their remuneration is adequate or are they over-compensated? Why or why not? b. Does something seem unusual? 7. Does this organization have a website? What is their url? Yes Feeding America has a website, and their URL is https://www.feedingamerica.org 8. Based on what you see on their website, and what you might read about them in the news do they live up to the mission they state in the Form 990? Please discuss. 9. Is this a charity you would feel comfortable donating to? Why or why not? 10. Is there anything else about the 990 that you find disturbing or enlightening? Please explain.
Answer Below:
The CEO of Feeding America is Claire Babineaux-Fontenot.Maryann Byrdak is the Chief Information officer of the organization.Katie Fitzgerald is the president and chief operating officer of Feeding America and the senior vice president is Nancy Curby. The average salary of the program manager of the organization is 86940 dollars per year and the director gets 144616 dollars per year. The employees of the organization work 8 hours a day. The average work hour for the part-time employees is 30 hours in a week. The interns of the company get 17 dollars per hour (Bowers et al.2018). The employees of Feeding America get various benefits, such as paid holidays, insurance packages like life and medical insurances. The employees got an accidental death benefit. The company also offers life insurance facilities for the dependents (Schneider 2013). However the medical benefit is only for those employees who work a minimum of 30 hours a week. Feeding America has trained professionals for the employee assistance program (EAP), which is for mental health such as it provides counseling program for the employees. Employees can get paid time off. As per the employees, they have a preferable and flexible working condition at their workplace. In feeding America, the employees can purchase software or computer by using payroll deduction. However, only full-time employees can get this benefit. The company has long-time ad short-term disability coverage for the employees. Feeding America offers employees to reimburse for health care and dependent care and it is tax-free. It gives the opportunity of saving money. The company has a referral program for the employees, if an employee can bring new and fresh talent to the company, he or she can get a bonus. Inaddition, the company helps employees with their education, if the employees want to have a work-related post-graduate study. The company helps them. 3 A. From the above benefit packages, it can be said that the employees get enough remuneration from the company. B. From the benefit packages, it can be said that the employees get enough benefit from the company. Some benefits are indeed only for full-time employees but, it does not seem unusual. 9. Feeding America is a nonprofit organization, which provides food for those who are in need. The company has 200 food banks. The objective of the company is to provide food security for people. There are millions of children who are deprived of food and proper education. It is important to provide proper nutrition to people. So, it can be said that donating to a charity for a good cause like providing food security, education is a good deed. Hence, donating to a charity is comfortable for me but the important factor is donating to the right place so that the real people in need can get the benefit. 10. From 990 is an internal revenue service form in the United States, it provides information about the non-profitorganization. The good thing about 990 is it is also used to prevent misuse of tax exemption status (Ely et al.2021). This is beneficial for nonprofit organizations in the United States. The positive side is IRS authority can get all financial information and activities of a non-profit organization from the form 990. The organization must feel the form within provided, if fails they have to show a reasonable cause. Without 4 showing a cause organization can face a penalty. The penalty could be 20 dollars for each day from the return date. 5 References Bowers, K. S., Francis, E., & Kraschnewski, J. L. (2018). The dual burden of malnutrition in the United States and the role of non-profit organizations. Preventive medicine reports, 12, 294-297.https://doi.org/10.1016/j.pmedr.2018.10.002 Ely, T. L., Calabrese, T. D., & Jung, J. (2021). Research Implications of Electronic Filing of Nonprofit Information: Lessons from the United States Internal Revenue Service Form 990 Series. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, 1-9.https://doi.org/10.1007/s11266-021-00398-8 Schneider, F. (2013). The evolution of food donation with respect to waste prevention. Waste Management, 33(3), 755-763.https://doi.org/10.1016/j.wasman.2012.10.025More Articles From Accounting
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