According to the U.S. Dept. of Health and Human Services (HHS), 60% of U.S. adults are currently living with at least one diet-related chronic disease. At the same time, millions of families struggle with consistent access to enough affordable, nutritious food to live healthy lives. These two issues—diet-related illness and food insecurity—are deeply intertwined. Access to nutritious food is fundamental to health.
Nonprofit organizations have built deep trust within their communities and understand the specific needs of the people they serve. Many food banks are now working with healthcare providers to screen patients for food insecurity and refer them to nutrition counseling and food assistance programs. Others are partnering with community gardens and urban farms to increase access to fresh, healthy produce.
Funding Opportunities
Funding opportunities are emerging for nonprofits working in the space of combining holistic wellness practices and medical care. At the federal level, HHS’s Office of Disease Prevention and Health Promotion is investing $2 million of its FY25 budget to support federal, state, and local governments, communities, and health care organizations in creating and implementing Food Is Medicine pilots and establish an effective enabling policy environment for Food Is Medicine practices. In the private sector, several foundations are already making grants in these areas. They include the Elevance Health Foundation’s (formerly Anthem Health Foundation) “Food as Medicine” initiative, which makes grants to U.S.-based programs that specifically address health-related social needs, promote equity by reducing the number of food-insecure individuals, and create access to nutritious foods that help combat chronic conditions; and the Roquette Foundation for Health’s international grants for studies on the impact of food on diseases.
To leverage these and other emerging funding opportunities, food banks need to have strong accounting systems in place to help build trust with funders and partners, demonstrate financial health and transparency, and ensure accountability for the use of resources. This is where an outsourced accounting firm like YPTC can help.
The seasoned accounting professionals in YPTC’s Food Insecurity Specialization are here to assist food banks with the following:
- Develop clear financial policies and procedures to provide transparency.
- Implement inventory management systems that track the flow of food and other resources to maximize utilization and prevent spoilage.
- Accurately track program expenses and outcomes to demonstrate the impact of the food bank’s work.
- Implement sustainable funding strategies.
- Build budgets and forecasts that help leaders steer their non-profit forward.
In addition, YPTC’s Government Funding Department can assist food banks by locating relevant funding opportunities offered by federal agencies and/or private foundations. YPTC can also assist with the preparation of funding applications. No single organization can solve complex food insecurity challenges alone. YPTC is here to help. Contact us and schedule a call to discuss our services.
