Financial Services Contract for the FFARMD Foundation RFP
The Farms and Food Access for a Resilient Maryland Foundation, Inc. (FFARMD Foundation) is a nonprofit financial intermediary organization that has a mission to support the fundraising efforts of the Maryland Market Money program (MMM) that helps make access to Maryland grown food products available to food insecure people in this State.
MMM is Maryland’s only statewide food incentive program that provides a dollar-for-dollar match for purchases made using federal nutrition benefits at select farmers markets (including SNAP, WIC, and FMNP). Each MMM dollar works in the following ways: helps Marylanders experiencing food-insecurity to access wholesome locally-grown foods, boosts farmers’ sales at the markets which increases the profitability of Maryland farms and strengthens communities making farmers markets a welcoming and equitable community space. The program functions at 46 markets and farm stands today, providing low-income Marylanders spending their benefits at participating markets with MMM matching funds to purchase eligible foods from local producers and supporting the Maryland economy. The program is expected to grow in its reach and impact over the next few years.
The day-to-day operations of MMM are administered by the Southern Maryland Agricultural Development Commission (SMADC), a unit of the Tri-County Council for Southern Maryland (TCCSMD). The FFARMD Foundation began operation in early 2023 and is currently seeking IRS 501(c)(3) nonprofit organization status. The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) has served in the financial intermediary role for MMM for the last two years, but the establishment of the FFARMD Foundation (as a nongovernmental tax-exempt organization) is expected to provide much more opportunity for federal government, local government, and philanthropic organization financial support of the MMM program. (Both SMADC/TCCSMD and MARBIDCO are instrumentalities of the Maryland State Government.)
The Foundation is seeking the services of a Financial Administrator to provide bookkeeping and contract intermediation services. Based on MARBIDCO’s prior experience in this role over the last two years, this position likely will involve 12-15 hours of work per month on average by the person (or firm) serving in this role. The Financial Administrator would also interface with the third-party financial auditor hired by the Foundation.