2022-09-12T09:45:30-05:00 2021-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2021-01-01 131934121 SPECIALTY FOOD ASSOCIATION INC SPEC 2124826440 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 WILLIAM LYNCH PRESIDENT 2124826440 2022-09-12 1 WILLIAM LYNCH XXX-XX-XXXX GARRETT M HIGGINS P00543209 9143818900 2022-09-12 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z WILLIAM LYNCH 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 39809995 0 X WWW.SPECIALTYFOOD.COM X 1952 NY THE SPECIALTY FOOD ASSOCIATION, INC. (SFA) IS A TRADE ASSOCIATION WHICH, THROUGH ITS MEDIA PROGRAMS, THE FANCY FOOD SHOW, AND ITS MEMBERSHIP OF OVER 3,800 SPECIALTY FOOD COMPANIES WORKS TO FOSTER A THRIVING SPECIALTY FOODS MARKETPLACE. 15 15 50 80 0 0 0 1179069 12643572 2132159 3423580 3542755 8002245 7683521 24069397 14537504 65972 200 0 0 9459106 6978020 0 0 0 13287032 7590801 22812110 14569021 1257287 -31517 76782309 69762425 20090402 11492011 56691907 58270414 TO CHAMPION, NURTURE AND CONNECT OUR MEMBERS TO DELIVER INNOVATIVE PRODUCTS AND EXPAND CONSUMPTION OF SPECIALTY FOODS. 0 0 CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS. CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS. NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS. 0 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 70 0 50 1 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X LYSA TEAL 6468780190 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 CHARLIE APT CHAIR 2.00 0.00 X X 24688 0 0 NONA LIM VICE CHAIR 2.00 0.50 X X 21750 0 0 JON PRUDEN TREASURER 2.00 0.00 X X 21750 0 0 JULIE BUSHA SECRETARY 2.00 0.00 X X 24688 0 0 BECKY RENFRO BORBOLLA DIRECTOR 2.00 0.00 X 14688 0 0 EMILIO MIGNUCCI DIRECTOR 2.00 0.00 X 22688 0 0 PIERRE ABUSHACRA DIRECTOR 2.00 0.00 X 19750 0 0 JILL G BASCH DIRECTOR 2.00 0.50 X 19750 0 0 WILLIAM BOOKER III DIRECTOR 2.00 0.50 X 14688 0 0 BETH HALEY DIRECTOR 2.00 0.00 X 19750 0 0 SANA JAVERI KADRI DIRECTOR 2.00 0.00 X 11750 0 0 MARK KROENCKE DIRECTOR 2.00 0.00 X 19750 0 0 TYLER LOWELL DIRECTOR 2.00 0.00 X 19750 0 0 SARAH MASONI DIRECTOR (THRU 8/21) 2.00 0.00 X 15750 0 0 JOMAREE PINKARD DIRECTOR 2.00 0.00 X 8000 0 0 SARAH WALLACE DIRECTOR 2.00 0.50 X 19750 0 0 LEE ZALBEN DIRECTOR 2.00 0.00 X 19750 0 0 WILLIAM LYNCH PRESIDENT 39.50 0.50 X 354306 0 78516 LYSA TEAL SVP, FINANCE & STRATEGY / PLANNING 40.00 0.00 X 128744 0 844 IRENE MATH SVP, FINANCE (THRU 4/21) 40.00 0.00 X 367063 0 114362 DENISE PURCELL VP, EDUCATION & CONTENT 40.00 0.00 X 180939 0 22952 LEO SQUATRITO VP, MEMBER DEV. & OUTREACH 40.00 0.00 X 243980 0 54066 MARK CAPORELLI VP, TECHNOLOGY & INNOVATION 40.00 0.00 X 171992 0 22500 LAURA LOZADA VP, MEMBER ENG. & EXPERIENCE 40.00 0.00 X 161083 0 8393 LISA GAUCHEY VP, HUMAN RESOURCES 40.00 0.00 X 190381 0 58513 JILL CAMPBELL VP, MARKETING 40.00 0.00 X 198428 0 24980 CLAUDINE BERTI DIRECTOR, AUDIENCE TECH-EVENTS & INSIGHTS 40.00 0.00 X 149989 0 49612 MIRTA MENDEZ-BUSTOS CONTROLLER 40.00 0.00 X 137791 0 35800 PHILLIP M KAFARAKIS FORMER PRESIDENT 0.00 0.00 X 173921 0 20286 CHRIS CROCKER FORMER DIR., MEDIA DEVELOPMENT 0.00 0.00 X 466420 0 17363 RONALD TANNER FORMER VP PHIL., GOV, & IND. RELATIONS 0.00 0.00 X 653711 0 11065 3897438 0 519252 24 1 1 0 FREEMAN PO BOX 650036 DALLAS TX 75265 EXHIBIT CONTRACTING 375559 FIXATION 1100 CHALLENGER ROAD 7TH FLOOR RIDGEFIELD PARK NJ 07660 MARKETING 362974 ARENT FOX 11717 K STREET NW WASHINGTON DC 20006 LEGAL 359118 RUTGERS FOOD INNOVATION CENTER 1450 EAST BROAD ST BRIDGETON NJ 08302 EXHIBIT CONTRACTING 208467 ASSOCIATION ANALYTICS 11560 WILSON BLVD SUITE 825 ARLINGTON VA 22209 DATA ANALYTICS 193667 14 1179069 1179069 MEMBERSHIP DUES 900099 1058251 1058251 TRADE SHOWS / EVENTS 813910 590249 590249 MAGAZINE / WEBSITE 541800 405054 405054 EDUCATION 900099 78605 78605 2132159 1479290 1479290 27335956 25272491 2063465 2063465 2063465 INSURANCE PROCEEDS 900099 7668660 7668660 RECOVERY OF BAD DEBT 900099 7895 7895 MISCELLANEOUS 900099 6966 6966 7683521 14537504 2132159 0 11226276 X 200 1998266 3785280 349896 423076 421502 348939 58344 147609 1595988 341204 421427 1644367 852522 83465 854078 85529 605891 262855 RESEARCH 93432 COMMUNICATION EXPENSE 81358 PHOTOGRAPY/ARTWORK 42185 AWARDS 29862 41746 14569021 9368420 1088146 8122135 4025837 105343 1499997 856591 752301 6997452 5404910 2151389 1592542 51047018 56314647 4312625 4413955 818788 75000 76782309 69762425 2318618 2110359 4111626 8807219 12394398 0 1265760 574433 20090402 11492011 X 56691907 58270414 56691907 58270414 76782309 69762425 X -31517 1559513 50511 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 2377328 1598925 778403 1736426 1428877 307549 2883698 2377108 506590 1592542 KEY LIFE INSURANCE 4413955 F 4413955 DEFERRED COMPENSATION 40267 DEFERRED RENT 534166 574433 X 16089122 1559513 1559513 14529609 7895 7895 14537504 14524491 13876 13876 14510615 58406 58406 14569021 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION AND/OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2018. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECOVERY OF BAD DEBT REPORTED ON PART VIII, LINE 11 7,895. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CONSOLIDATED ENTITY IN FINANCIAL STATEMENTS 13,876. PART XII, LINE 4B - OTHER ADJUSTMENTS: PENSION ESTIMATE ADJUSTMENT REPORTED ON PART XI, LINE 9: 50,511. RECOVERY OF BAD DEBT REPORTED ON PART VIII, LINE 11 7,895. 1 X X X X X 1 0 0 RONALD TANNER FORMER VP PHIL., GOV, & IND. RELATIONS 0 0 0 0 653711 0 0 0 11065 0 664776 0 593770 0 CHRIS CROCKER FORMER DIR., MEDIA DEVELOPMENT 0 0 0 0 466420 0 0 0 17363 0 483783 0 0 0 IRENE MATH SVP, FINANCE (THRU 4/21) 54798 0 0 0 312265 0 101267 0 13095 0 481425 0 0 0 WILLIAM LYNCH PRESIDENT 338136 0 15000 0 1170 0 34000 0 44516 0 432822 0 0 0 LEO SQUATRITO VP, MEMBER DEV. & OUTREACH 220377 0 0 0 23603 0 11750 0 42316 0 298046 0 0 0 LISA GAUCHEY VP, HUMAN RESOURCES 189387 0 0 0 994 0 10250 0 48263 0 248894 0 0 0 JILL CAMPBELL VP, MARKETING 196622 0 0 0 1806 0 9962 0 15018 0 223408 0 0 0 DENISE PURCELL VP, EDUCATION & CONTENT 180067 0 0 0 872 0 9137 0 13815 0 203891 0 0 0 CLAUDINE BERTI DIRECTOR, AUDIENCE TECH-EVENTS & INS 149507 0 0 0 482 0 7956 0 41656 0 199601 0 0 0 MARK CAPORELLI VP, TECHNOLOGY & INNOVATION 170444 0 0 0 1548 0 8750 0 13750 0 194492 0 0 0 PHILLIP M KAFARAKIS FORMER PRESIDENT 0 0 0 0 173921 0 0 0 20286 0 194207 0 173921 0 MIRTA MENDEZ-BUSTOS CONTROLLER 137112 0 0 0 679 0 7410 0 28390 0 173591 0 0 0 LAURA LOZADA VP, MEMBER ENG. & EXPERIENCE 160593 0 0 0 490 0 8030 0 363 0 169476 0 0 0 PART I, LINE 4A CERTAIN KEY EMPLOYEES, OFFICERS, AND EXECUTIVES OF THE ASSOCIATION RECEIVED SEVERANCE PACKAGES IN THEIR 2021 W-2S. PHILLIP KAFARAKIS: $173,921 RONALD TANNER: $593,770 IRENE MATH: $194,171 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP OF THE CORPORATION SHALL BE OPEN TO ANY CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY OR OTHER ENTITY, OR ANY SOLE PROPRIETOR THAT: (1) MEETS THE QUALIFICATIONS ADOPTED BY THE BOARD OF DIRECTORS; (2) IS ENGAGED IN ANY ONE OR MORE AREAS OF THE SPECIALTY FOOD, BEVERAGE AND CONFECTIONERY INDUSTRY WHOSE PRODUCTS OR SERVICES MEET THE DEFINITION OF SPECIALTY FOOD PRODUCTS OR SERVICES SET FORTH IN THESE BY-LAWS OR WHOSE ACTIVITIES MEET THE OTHER RELEVANT STANDARDS ADOPTED BY THE BOARD OF DIRECTORS; AND (3) IS INTERESTED IN SUPPORTING THE PURPOSES OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A ALL BOARD POSITIONS ARE SUBJECT TO ANNUAL ELECTIONS OF THE GENERAL MEMBERSHIP. THE ASSOCIATION'S NOMINATING COMMITTEE IS CHARGED WITH SELECTING QUALIFIED CANDIDATES TO BE NOMINATED FOR THE CHANCE OF BEING ELECTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B SPECIALTY FOOD ASSOCIATION, INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS, OFFICERS AND KEY PERSONS ("INTERESTED PERSONS") MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST WHEN VOTING ON POLICY OR TRANSACTION MATTERS OF THE CORPORATION AND COMPLY WITH THE CORPORATION'S CONFLICT OF INTEREST POLICY. THEY WILL BE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. ADDITIONALLY, THE CORPORATION SHALL NOT ENTER INTO A TRANSACTION WITH A "RELATED PARTY", AS THAT TERM IS DEFINED IN THE CORPORATION'S CONFLICT OF INTEREST POLICY, UNTIL ALL OF THE REQUIREMENTS SET FORTH IN THE CORPORATION'S CONFLICT OF INTEREST POLICY FOR APPROVING A TRANSACTION WITH A RELATED PARTY HAVE BEEN SATISFIED. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. AN INTERESTED PERSON MAY MAKE A PRESENTATION REGARDING THE ARRANGEMENT OR TRANSACTION INVOLVING THE POSSIBLE CONFLICT OF INTEREST TO THE COMMITTEE. AN INTERESTED PERSON IS PROHIBITED FROM ATTEMPTING TO IMPROPERLY INFLUENCE ANY DELIBERATION OR VOTING RELATED TO THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE INTERESTED PERSON MUST LEAVE A MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, ANY SUCH TRANSACTION OR ARRANGEMENT UNTIL THE COMMITTEE DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS. AFTER EXERCISING DUE DILIGENCE, THE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER A CONFLICT OF INTEREST EXISTS AND WHETHER THE TRANSACTION OR ARRANGEMENT INVOLVING A POSSIBLE CONFLICT OF INTEREST IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL REPORT TO THE BOARD ITS DETERMINATION REGARDING THE EXISTENCE OF A CONFLICT OF INTEREST AND SHALL MAKE A RECOMMENDATION AS TO WHETHER THE BOARD SHOULD APPROVE THE TRANSACTION OR ARRANGEMENT; PROVIDED THAT IF THE TRANSACTION OR ARRANGEMENT INVOLVING A POSSIBLE CONFLICT OF INTEREST CONSTITUTES A RELATED PARTY TRANSACTION THEN IT MUST BE APPROVED IN ACCORDANCE WITH THE PROCEDURES WITHIN THE CORPORATION'S POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS IS THE BODY CHARGED WITH REVIEWING THE COMPENSATION PACKAGES OF THE PRESIDENT AND SVP, FINANCE & STRATEGY (THE "OFFICERS") AND MAKING RECOMMENDATIONS TO BE APPROVED BY THE BOARD. THE COMMITTEE REVIEWS MARKET DATA AND PERFORMANCE IN DETERMINING WHAT AN EQUITABLE COMPENSATION PACKAGE SHOULD BE. THE REVIEW AND APPROVAL FOR THE OFFICERS WERE DOCUMENTED IN THE MEETING MINUTES. THE ORGANIZATION ENGAGED MERCER TO PERFORM AN INDEPTH COMPENSATION ANALYSIS FOR THE OFFICERS AND KEY EMPLOYEES IN 2019. THIS ANALYSIS WAS AMENDED IN 2021. THE PRESIDENT OF THE ASSOCIATION PREPARES EVALUATIONS AND SETS COMPENSATION FOR THE ORGANIZATION'S KEY EMPLOYEES BASED ON EACH INDIVIDUAL'S PERFORMANCE DURING THE CURRENT YEAR. THE BOARD OF DIRECTORS ENGAGED A THIRD PARTY TO CONDUCT AN ASSESSMENT ON BOARD COMPENSATION. THE COMPENSATION ASSESSMENT FOCUSED ON SIMILAR TYPES OF 501(C)(6) ENTITIES TO THE ASSOCIATION AND DETERMINED A REASONABLE RANGE OF COMPENSATION FOR ITS DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IT IS AVAILABLE ON GUIDESTAR AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT 136 MADISON AVENUE (12TH FLOOR), NEW YORK, NY 10016 OR BY CALLING THE ORGANIZATION DIRECTLY AT 212-482-6440. FORM 990, PART IX, LINE 11G TEMPORARY HELP 182,936. JANITORIAL SERVICES 8,014. FREELANCE WORKERS 69,652. PAYROLL SERVICE FEES 50,713. PENSION SERVICE FEES 39,867. AGENCY MARKETING SERVICES 26,072. SALES AGENTS 23,387. EXHIBIT & TRADE SHOW CONTRACTORS 1,195,347. FORM 990, PART XI, LINE 9: PENSION ESTIMATE ADJUSTMENT 50,511. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A BUDGET & AUDIT COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SPECIALTY FOOD FOUNDATION 136 MADISON AVENUE 12TH FLOOR NEW YORK NY 10016 471358924 SUPPORT HUNGER INTIATIVES DC 501(C)(3) LINE 7 SPECIALTY FOOD ASSOCIATION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0