2024-09-23T16:34:15-05:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 131934121 SPECIALTY FOOD ASSOCIATION INC SPEC 2124826440 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 WILLIAM LYNCH PRESIDENT 2124826440 2024-09-23 1 1 MELISSA MODELSON P01603524 9143818900 2024-09-23 2023 2024-08-08 14:25:15Z WILLIAM LYNCH 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 55686951 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. 17 17 46 70 0 0 0 0 20500813 25779553 767316 2370275 10103322 1635 31371451 28151463 75000 0 0 0 7257895 8958099 0 0 0 14568383 16898864 21901278 25856963 9470173 2294500 75601880 84400298 15715007 16964516 59886873 67435782 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 0 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 95 0 46 1 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LYSA TEAL 6468780190 136 MADISON AVENUE 12TH FL NEW YORK NY 10016 JONATHAN E PRUDEN CHAIR 2.00 X X 3547 0 0 CHARLES APT PAST CHAIR 2.00 X X 2232 0 0 NONA YEANHONG LIM VICE CHAIR 2.00 X X 3547 0 0 PIERRE A ABUSHACRA TREASURER 2.00 X X 2500 0 0 JILL GIACOMINI BASCH SECRETARY 2.00 X X 3668 0 0 JULIE BUSHA DIRECTOR 2.00 X 3297 0 0 ELIZABETH A HALEY DIRECTOR 2.00 X 3426 0 0 VICTORIA HO DIRECTOR 2.00 X 3668 0 0 SCOTT JENSEN DIRECTOR 2.00 X 3708 0 0 TYLER S LOWELL DIRECTOR 2.00 X 0 0 0 SARAH Z MASONI DIRECTOR 2.00 X 3668 0 0 EMILIO MIGNUCCI DIRECTOR 2.00 X 2903 0 0 JOMAREE PINKARD DIRECTOR 2.00 X 3426 0 0 MIKE REICH DIRECTOR 2.00 X 3184 0 0 DWIGHT RICHMOND DIRECTOR 2.00 X 2500 0 0 SARAH WALLACE DIRECTOR 2.00 X 4461 0 0 LEE ZALBEN DIRECTOR 2.00 X 2500 0 0 WILLIAM LYNCH PRESIDENT 40.00 X 523820 0 305285 LYSA TEAL SVP, FINANCE & PLANNING 40.00 X 392885 0 69037 LAURA LOZADA VP, OPERATIONS 40.00 X 213094 0 22481 DENISE PURCELL VP, RESOURCE DEVELOPMENT 40.00 X 210786 0 37790 PHIL ROBINSON SVP, MEMBER DEVELOPMENT 40.00 X 314129 0 81937 ANTHONY LEON VP, TECHNOLOGY 40.00 X 221553 0 45222 LEANA SALAMAH SVP, MARKETING & COMMUNICATIONS 40.00 X 209793 0 32697 DELIA MURPHY VP, RELATIONS 40.00 X 175614 0 15673 AKI CIPRIANI VP, TALENT & CULTURE THRU OCT. 2023 40.00 X 222717 0 32491 NANCY WEISS DIR. OF ACCOUNTING & CONTROLLER 40.00 X 176397 0 61326 CLAUDINE BERTI DIR., RESEARCH & DATA ANALYTICS 40.00 X 167659 0 65290 MICHELLE MCDONALD DIR., MEMBER & BUYER RELATIONS 40.00 X 160217 0 53594 GRETCHEN VANESSELSTYN DIR., EDUCATION AND PROGRAM DEVELOPMENT 40.00 X 158780 0 21242 TRESSA KENNEDY DIRECTOR, OPERATIONS 40.00 X 154755 0 34302 3354434 0 878367 25 0 1 0 FREEMAN PO BOX 650036 DALLAS TX 752650036 EXHIBIT CONTRACTING 4122695 JACOB JAVITS CONVENTION CENTER 655 W 34TH ST NEW YORK NY 10001 CONVENTION CENTER/VENUE 977397 PHASETEN STRATEGIC CORP 2445 FIFTH AVENUE SUITE 450 SAN DIEGO CA 92101 ADVERTSING SERVICES 696957 FREEMAN EVENTS TECHNOLOGY PO BOX 734596 DALLAS TX 753734596 EXHIBIT CONTRACTING 487436 UNITED NATIONAL MAINTENANCE COMPANY 1550 SOUTH INDIANA AVE CHICAGO IL 60606 EVENT CLEANING SERVICES 476376 26 TRADE SHOWS / EVENTS 900099 22991543 22991543 MEMBERSHIP DUES 900099 1242757 1242757 MAGAZINE / WEBSITE 541800 1221603 1221603 EDUCATION 900099 323650 323650 25779553 2072582 2072582 27833181 27535488 297693 297693 297693 MISCELLANEOUS REVENUE 900099 1635 1635 1635 28151463 25779553 0 2371910 2876716 4607865 441802 516023 515693 390331 68944 144249 2287242 764881 847070 1575066 889340 619112 7653701 24049 386087 357766 RESEARCH 360935 PRODUCTION EXPENSE 151966 MISCELLANEOUS EXPENSES 129739 PHOTOGRAPHY/ARTWORK 88693 159693 25856963 4425856 1964675 1031772 1114003 10764734 193451 1605601 2468704 3073229 2333296 975499 739933 50548170 72185733 4515588 4621788 1734660 1112011 75601880 84400298 1454857 1597758 12046405 13791779 2213745 1574979 15715007 16964516 X 59886873 67435782 59886873 67435782 75601880 84400298 X 2294500 5527031 -272622 X X 0 1 X 1 0 0 1 0 2302285 2055407 246878 313676 136881 176795 457268 141008 316260 739933 KEY LIFE INSURANCE 4621788 F 4621788 LEASE LIABILITY 1361288 DEFERRED COMPENSATION 213691 1574979 X 33405872 5527031 5527031 27878841 272622 272622 28151463 25856963 0 25856963 0 25856963 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS 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, 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS 272,622. 1 X X X X X 1 1 0 WILLIAM LYNCH PRESIDENT 402467 0 96750 0 24603 0 254250 0 51035 0 829105 0 96500 0 LYSA TEAL SVP, FINANCE & PLANNING 306950 0 60700 0 25235 0 64000 0 5037 0 461922 0 0 0 PHIL ROBINSON SVP, MEMBER DEVELOPMENT 277151 0 31900 0 5078 0 16679 0 65258 0 396066 0 0 0 ANTHONY LEON VP, TECHNOLOGY 201569 0 19300 0 684 0 10337 0 34885 0 266775 0 0 0 AKI CIPRIANI VP, TALENT & CULTURE THRU OCT. 2023 171417 0 0 0 51300 0 16991 0 15500 0 255208 0 0 0 DENISE PURCELL VP, RESOURCE DEVELOPMENT 192248 0 17600 0 938 0 21248 0 16542 0 248576 0 0 0 LEANA SALAMAH SVP, MARKETING & COMMUNICATIONS 183481 0 26000 0 312 0 3700 0 28997 0 242490 0 0 0 NANCY WEISS DIR. OF ACCOUNTING & CONTROLLER 162591 0 12300 0 1506 0 18325 0 43001 0 237723 0 0 0 LAURA LOZADA VP, OPERATIONS 194882 0 17600 0 612 0 21248 0 1233 0 235575 0 0 0 CLAUDINE BERTI DIR., RESEARCH & DATA ANALYTICS 154988 0 11900 0 771 0 17676 0 47614 0 232949 0 0 0 MICHELLE MCDONALD DIR., MEMBER & BUYER RELATIONS 159032 0 0 0 1185 0 16588 0 37006 0 213811 0 0 0 DELIA MURPHY VP, RELATIONS 157338 0 18000 0 276 0 4615 0 11058 0 191287 0 0 0 TRESSA KENNEDY DIRECTOR, OPERATIONS 143714 0 10600 0 441 0 15810 0 18492 0 189057 0 0 0 GRETCHEN VANESSELSTYN DIR., EDUCATION AND PROGRAM DEVELOPM 146196 0 11900 0 684 0 16076 0 5166 0 180022 0 0 0 PART I, LINES 4A-B AKI CIPRIANI RECEIVED $50,938 OF SEVERANCE IN THEIR 2023 W-2, WHICH WAS REPORTED IN PART II, COLUMN (B)(III). BILL LYNCH AND LYSA TEAL PARTICIPATED IN THE ORGANIZATIONS NONQUALIFIED SUPPLEMENTAL 457(F) RETIREMENT PLAN. DURING THE YEAR $42,500 AND $31,000 WERE CONTRIBUTED TO THE PLAN RESPECTIVELY. THERE WERE NO DISTRIBUTIONS FORM THE PLAN DURING THE YEAR. 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 15 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 2023. 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. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF FIXED ASSETS -272,622. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY 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.