Place beef broth and spinach in a large saucepan or Dutch oven; cook over low heat until spinach is thawed, about 10 minutes.
Meanwhile, cook macaroni according to package directions. Rinse and drain well.
To the pot add tomato soup and tomato paste, milk, zucchini, oregano, garlic powder, and macaroni. Bring to a boil; reduce heat and simmer for 10 minutes. Stir in Cheddar cheese until melted. Toss together the Parmesan cheese and crumbled bacon; serve as garnish for soup.
Calories per serving: 474