Financial Statements

STATEMENT OF FINANCIAL POSITION

Fiscal Year July 1, 2018 - June 30, 2019
Form 990
CHAR 500

ASSETS

Cash

$958,056

Accounts Receivable

$136,306

Government Contracts Receivable

$800,661

Pledges Receivable, Net of Allowance

$393,325

Inventories

$2,895,885

Prepaid Expenses & Other Current Assets

$115,488

Capital Leases, Net of Accumulated Amortization

$471,994

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

$5,358,534

TOTAL ASSETS

 $11,130,249

LIABILITIES AND NET ASSETS

Liabilities
Accounts Payable
$398,784
Accrued Liabilities
$101,641
Capital Lease Obligations
$499,079
Mortgage Payable
$1,716,989
Total Liabilities
$2,716,493
 
Net Assets
Without Donor Restrictions
$6,595,257
With Donor Restrictions
$1,818,499
Total Net Assets
$8,413,756
TOTAL LIABILITIES AND NET ASSETS
$11,130,249


STATEMENT OF ACTIVITIES

PUBLIC SUPPORT AND REVENUE

Revenues, Gains, and Other Support
NYS Contracts
$3,073,431
Grants
$344,557
Federal Contract
$1,131,602
Donations
$3,074,007
United Way
$99,505
Program Revenue
$2,360,208
Other Misc. Income
$58,388
Donated USDA Product
$7,665,848
Donated Product
$11,159,916
Total Revenue
$28,967,462
 
Expenses
Program Services
$26,673,661
Management & General
$520,045
Fund Development
$533,843
Total Expenses
$27,727,549
 
Change in Net Assets - Change in Donated & USDA/TEFAP Inventory Value
$889,124
Change in Net Assets - Operations
$350,789
TOTAL CHANGE IN NET ASSETS
$1,239,913
 

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.