Financial Statements

STATEMENT OF FINANCIAL POSITION

Fiscal Year July 1, 2016 - June 30, 2017
Form 990
CHAR 500

ASSETS

Cash

$761,932

Accounts Receivable

$196,849

Government Contracts Receivable

$765,501

Pledges Receivable, Net of Allowance

$3,500

Inventories

$1,986,038

Prepaid Expenses & Other Current Assets

$145,725

Capital Leases, Net of Accumulated Amortization

$626,674

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

$5,683,970 

TOTAL ASSETS

 $10,170,189

LIABILITIES AND NET ASSETS

Liabilities
Accounts Payable
$417,701
Accrued Liabilities
$98,668
Deferred Revenue
$45,455
Capital Lease Obligations
$646,737
Vehicle Loans
$0
Mortgage Payable
$1,900,000
Total Liabilities
$3,108,561
 
Net Assets
Unrestricted
$6,036,640
Temporarily Restricted
$1,024,988
Total Net Assets
$7,061,628
TOTAL LIABILITIES AND NET ASSETS
$10,170,189

PUBLIC SUPPORT AND REVENUE

Revenues, Gains, and Other Support
NYS Contracts
$3,498,229
Grants
$226,372
Federal Contract
$1,049,173
Donations
$3,067,675
United Way
$111,658
Program Revenue
$2,337,881
Other Misc. Income
$19,770
Donated USDA Product
$5,065,637
Donated Product
$10,896,624
Total Revenue
$26,273,019
 
Expenses
Program Services
$24,976,488
Management & General
$525,477
Fund Development
$539,797
Total Expenses
$26,041,762
 
Change in Net Assets - Change in Donated & USDA/TEFAP Inventory Value
$(317,281)
Change in Net Assets - Operations
$548,538
TOTAL CHANGE IN NET ASSETS
$231,257
 

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.