2020 Benefit Annual Report

G Farms Foods LLC “Grace Farms Foods” Annual Benefit Report 2020

 

Introduction:

G Farms Foods LLC (DBA Grace Farms Foods LLC) “Grace Farms Foods” was formed as a Delaware public benefit limited liability corporation on June 22^nd, 2020.

 

The company was formed to demonstrate and educate about the charitable purposes of Grace Farms Foundation through the manufacturing and retailing of food products.

 

In the period of formation through December 31^st, 2020 the company was developing products, packaging, and preparing for donation of the company to Grace Farms Foundation in 2021.  The company did not sell any products in 2020.

 

Public Benefit:

The general public benefit of Grace Farms Foods is to pursue social and environmental causes that benefit local and global communities.  The company’s core areas of impact are:

• Freedom For All: our goal is to demonstrate a transparent supply chain free of forced labor

 

• Female Forward: our goal is to partner with and support female entrepreneurs and leaders

 

• Environmental Stewardship: our goal is to create minimal impact on the environment through the supply chain and distribution of our products

 

• Connecting Communities: our goal is to give back to not-for-profit organizations, build awareness of Grace Farms Foundation, and bring people together.

 

The specific public benefit of Grace Farms Foods has yet to be fully demonstrated as the company has not begun selling any products.  However, the company has established partnerships and relationships with suppliers that support our core areas of impact in the following ways:

• Ingredient Sourcing: The majority of Grace Farms Foods’ ingredients sourced include third-party certifications such as Fairtrade Certified and Fair Trade™ Certified by Fair Trade USA that support worker’s rights and fair wages. Grace Farms Foods will also be sourcing USDA Certified Organic ingredients in its products which are better for the health of the planet and our customers.
  
• Packaging: Grace Farms Foods has selected environmentally-friendly packaging for the majority of its packaging.  More than 80% of our packaging includes post-consumer recycled product, is FSC-Certified, or is plastic-free and recyclable.

 

In 2021, Grace Farms Foods has set ambitious goals to expand on its social and environmental public benefit.  These goals can be found at www.gracefarmsfoods.com.

 

Third-Party Standard: B-Lab and B Impact Assessment:

Grace Farms Foods has partnered with the B-Lab and used the B Impact Assessment standard to audit and measure the company’s public benefit.  As of December 31^st, 2020 the B Impact Assessment was completed and review for Certified B-Corp PENDING status was scheduled for February 2021.  Below is a summary of Grace Farms Foods’ preliminary Benefit Report from the B Impact Assessment tool:

 

Governance: 18.8

Workers: 21.9

Community: 57.4

Environment: 23.7

Customers: 4.8

Total: 126.7

 

*There is no material connection between the organization that established the third-party standard and Grace Farms Foods.

 

Looking ahead: 2021 Goals

Each year Grace Farms Foods will publish its commitments and goals.  Below are our commitments and goals for 2021.

 

Freedom For All Commitments and 2021 Goals:

• Commitment 1: Responsible Sourcing
• Goal 1.1 - Identify all ingredients and materials that are at-risk of forced labor
• Goal 1.2 - Source at-risk ingredients from companies that are Certified B-Corp, have a supply chain audit program or an enforceable supplier code of conduct, or when possible purchase ingredients with a third party certification such as Fair Trade™ Certified or Fairtrade Certified
• Commitment 2: Transparent Supply Chain
• Goal 2.1 - Create and share our supplier code of conduct and anti-slavery statement
• Goal 2.2 - Share suppliers of at-risk ingredients or materials and due diligence to remove any reasonable doubt forced labor exists in our supply chain
• Commitment 3: Education
• Goal 3.1 - Inform our customers and suppliers about forced labor and how they can make a difference

Female Forward Commitments and 2021 Goals:

• Commitment 1: Ourselves
• Goal: Demonstrate gender parity within our own company by maintaining at least 50% of leadership positions are held by women (leadership positions include Managers, Officers, and Board of Advisors)
• Commitment 2: Partners
• Goal: At least 75% of our spend with suppliers are either female-owned or female-led businesses
• Commitment 3: Education
• Goal: Educate our customers, suppliers, and the industry on the added value of supporting female entrepreneurs and leaders

Environmental Stewardship Commitments and 2021 Goals:

• Commitment 1: Ingredients
• Goal 1: Source ingredients that are sustainably grown and harvested
• Commitment 2: Packaging
• Goal 2: Produce packaging that reduces our raw material and waste footprint
• Commitment 3: Climate
• Goal 3: Create a plan for benchmarking our carbon footprint and becoming carbon neutral by 2025
• Commitment 4: Education
• Goal 4: Inform our customers, suppliers, and the industry about how to reduce our impact on the environment

Connecting Communities Commitments and 2021 Goals:

1. Commitment 1:  Share Grace Farms
1. Goal 1: Give people the opportunity to share Grace Farms with as many people as possible
2. Commitment 2: Partnerships
1. Goal 2: Partner with local food relief organizations and provide donated food
3. Commitment 3: Give Back
1. Goal 3:  Return all profits to help fund the work of Grace Farms Foundation
4. Commitment 4: Diversity and Inclusion
1. Goal 4.1: 30% of new hires are Black, Native Americans, or People of Color

Benefit Director:

Grace Farms Foods is not a publicly traded company and has not assigned a Benefit Director or Benefit Officer.