Financial Statements

STATEMENT OF FINANCIAL POSITION

Fiscal Year July 1, 2015 - June 30, 2016
Form 990/CHAR 500

ASSETS

Cash

$511,828

Accounts Receivable

$134,543

Government Contracts Receivable

$705,934

Pledges Receivable, Net of Allowance

$3,636

Inventories

$2,250,991

Prepaid Expenses and Other Current Assets

$117,827

Capital Leases, Net of Accumulated Amortization

$764,700

Property and Equipment, at Cost, Net of Accumulated Depreciation and Amortization

$5,480,097 

TOTAL ASSETS

 $9,969,556

LIABILITIES AND NET ASSETS

Liabilities
Accounts Payable
$268,829
Accrued Liabilities
$91,094
Deferred Revenue
$9,932
Capital Lease Obligations
$774,524
Vehicle Loans
$76,955
Mortgage Payable
$1,917,851
Total Liabilities
$3,139,185
 
Net Assets
Unrestricted
$5,539,783
Temporarily Restricted
$1,290,588
Total Net Assets
$6,830,371
TOTAL LIABILITIES AND NET ASSETS
$9,969,556

PUBLIC SUPPORT AND REVENUE

Revenues, Gains, and Other Support
NYS Contracts
$3,476,461
Grants
$223,894
Federal Contract
$921,288
Donations
$2,466,032
United Way
$101,040
Program Revenue
$2,584,730
Other Misc. Income
$18,587
Donated USDA Product
$5,520,582
Donated Product
$9,691,608
Total Revenue
$25,004,222
 
Expenses
Program Services
$22,747,368
Management and General
$511,992
Fund Development
$550,057
Total Expenses
$23,809,417
 
Change in Net Assets - Change in Donated and USDA - TEFAP Inventory Value
$1,137,346
Change in Net Assets - Operations
$57,459
TOTAL CHANGE IN NET ASSETS
$1,194,805
 

Note: This Condensed Statement of Activities includes the value of donated and government foods. In our Audited Financial Statement, prepared in accordance with accounting principles generally accepted in the United States of America, donated and government foods are valued on a per pound basis, based on management’s estimates which are supported by a product valuation survey which was performed for this purpose.