Society For Food Service Management
- Assets
- $1.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 07/1973
- Data as of
- 12/2023
- EIN
- 23-7271660
Organization Overview
Society For Food Service Management is located in Louisville, KY. The organization was established in 1973. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society For Food Service Management is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Society For Food Service Management generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 13.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SOCIETY FOR HOSPITALITY AND FOODSERVICE MANAGEMENT (SHFM) PROVIDES PROFESSIONAL DEVELOPMENT THROUGH RESEARCH AND INFORMATION, CONTINUING EDUCATION AND MEMBER INTERACTION IN A COLLABORATIVE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONFERENCE - VARIOUS MEMBERS ATTEND TO INCREASE THEIR KNOWLEDGE OF THE DEVELOPMENTS IN THE FOODSERVICE INDUSTRY.
MEETINGS AND CONFERENCES - PROVIDE CONTINUING EDUCATION AND UPDATES ON THE FOODSERVICE INDUSTRY.
OTHER PROGRAM EXPENSES - INCLUDES FAST FACTS NEWSLETTER AND INDUSTRY BENCHMARKING STUDY PERFORMED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Eliatamby Immediate Past President | OfficerTrustee | 4 | $0 |
Jenna Calhoun Treasurer | OfficerTrustee | 1 | $0 |
Raquel Weiss Fusco President | OfficerTrustee | 4 | $0 |
Shayne Varnum President Elect | OfficerTrustee | 4 | $0 |
Eric Cooley Senior Supplier | OfficerTrustee | 1 | $0 |
Katie Desimone Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fsa Management Group Management And Other Services | 12/30/22 | $592,929 |
Denver Hs-ef Court Place Llc Dba Sherat Hotel Conference Services | 12/30/22 | $403,614 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $223,861 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,861 |
| Total Program Service Revenue | $1,340,771 |
| Investment income | $35,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,660,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $452,738 |
| Fees for services: Legal | $5,330 |
| Fees for services: Accounting | $6,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,381 |
| Office expenses | $26,316 |
| Information technology | $17,251 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $46,492 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $184,546 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,245 |
| Insurance | $1,858 |
| All other expenses | $80,693 |
| Total functional expenses | $1,452,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,802 |
| Savings and temporary cash investments | $562,749 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,123 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,437 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $400,905 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,430 |
| Other assets | $0 |
| Total assets | $1,336,446 |
| Accounts payable and accrued expenses | $53,015 |
| Grants payable | $0 |
| Deferred revenue | $176,272 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $229,287 |
| Net assets without donor restrictions | $1,055,438 |
| Net assets with donor restrictions | $51,721 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,336,446 |