Financial Statements

STATEMENT OF FINANCIAL POSITION

Fiscal Year July 1, 2019 - June 30, 2020

ASSETS

Cash

$6,789,136

Government Support Receivable

$721,837

Accounts Receivable

$97,036

Investments

$44,433

Inventories

$2,976,892

Beneficial Interest in Assets Held by Community Foundation

$244,068

Prepaid Expenses and Other Current Assets

$248,061

Capital Leases, Net of Accumulated Amortization

$331,422

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

$5,640,259

Depreciation & Amortization

$0

TOTAL ASSETS

 $17,093,144

LIABILITIES AND NET ASSETS

Liabilities
Accounts Payable
$367,882
Accrued Liabilities
$221,046
Refundable Advances
$955,580
Capital Lease Obligations
$355,862
Mortgage Payable
$1,652,736
Paycheck Protection Program Loan
$666,945
Total Liabilities
$4,220,051
 
Net Assets
Without Donor Restrictions
$10,388,785
With Donor Restrictions
$2,484,308
Total Net Assets
$12,873,093
TOTAL LIABILITIES AND NET ASSETS
$17,093,144


STATEMENT OF ACTIVITIES

PUBLIC SUPPORT AND REVENUE

Revenues, Gains, and Other Support
NYS Contracts
$3,493,139
Grants
$1,117,610
Federal Contract
$1,956,794
Donations
$6,099,791
United Way
$112,577
Program Revenue
$2,047,848
Other Misc. Income
$17,597
Donated USDA Product
$14,108,712
Donated Product
$9,827,478
Total Revenue
$38,781,546
 
Expenses
Program Services
$33,242,755
Management & General
$536,393
Fund Development
$543,061
Total Expenses
$34,322,209
 
Change in Net Assets - Change in Donated & USDA/TEFAP Inventory Value
$53,667
Change in Net Assets - Operations
$4,405,670
TOTAL CHANGE IN NET ASSETS
$4,459,337
 

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.