Financial Statements

STATEMENT OF FINANCIAL POSITION

Fiscal Year July 1, 2017 - June 30, 2018
Form 990
CHAR 500

ASSETS

Cash

$772,026

Accounts Receivable

$144,235

Government Contracts Receivable

$899,772

Pledges Receivable, Net of Allowance

$0

Inventories

$1,958,275

Prepaid Expenses & Other Current Assets

$172,254

Capital Leases, Net of Accumulated Amortization

$488,649

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

$5,498,217

TOTAL ASSETS

 $9,933,428

LIABILITIES AND NET ASSETS

Liabilities
Accounts Payable
$309,828
Accrued Liabilities
$102,886
Deferred Revenue
$0
Capital Lease Obligations
$510,240
Vehicle Loans
$0
Mortgage Payable
$1,836,631
Total Liabilities
$2,759,585
 
Net Assets
Unrestricted
$6,259,957
Temporarily Restricted
$913,886
Total Net Assets
$7,173,843
TOTAL LIABILITIES AND NET ASSETS
$9,933,428


STATEMENT OF ACTIVITIES

PUBLIC SUPPORT AND REVENUE

Revenues, Gains, and Other Support
NYS Contracts
$3,669,667
Grants
$172,102
Federal Contract
$1,118,030
Donations
$2,817,092
United Way
$115,788
Program Revenue
$2,082,516
Other Misc. Income
$31,947
Donated USDA Product
$5,352,827
Donated Product
$11,341,808
Total Revenue
$26,701,777
 
Expenses
Program Services
$25,519,189
Management & General
$517,593
Fund Development
$552,780
Total Expenses
$26,589,562
 
Change in Net Assets - Change in Donated & USDA/TEFAP Inventory Value
$(13,312)
Change in Net Assets - Operations
$125,527
TOTAL CHANGE IN NET ASSETS
$112,215
 

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.