food bank of the southern tier finance ......food bank of the southern tier finance committee...

FOOD BANK OF THE SOUTHERN TIER FINANCE COMMITTEE MEETING

May 5, 2020 4:00 PM – 6:00 PM

AGENDA

TOPIC FACILITATOR ACTION TIME 1. Welcome and Call to Order Steve Hoyt 5

2. Opening Prayer Karl Krebs 5

3. Approval of February 4, 2020 Minutes Steve Hoyt Approve 5

4. 2019 Audit Review Jeff Paille Review/Approve 20 a. Review adequacy of financial controls b. Review disclosures of all material off-balance sheet arrangements

5. Executive Session with Auditor Steve Hoyt Discuss 10

6. March Financial Reports Tim Currie Approve 30

a. Income Statement & Narrative b. Balance Sheet c. Cash Flow Report d. Dashboards e. Communis Fund

7. Q1 Budget Adjustments Tim Currie Approve 10

8. COVID-19 Revenue & Expenses Tim Currie Discuss 15

9. Other Business Steve Hoyt Discuss 5

Next Meeting September 1, 2020 4:30 PM – 6:00 PM

Opening Prayer: Linda Bruckner

Food Bank of the Southern Tier Finance Committee Meeting

Tuesday, February 4, 2020 4:30 – 5:30 PM

FBST Finance Committee Minutes February 4, 2020

1. Welcome and Call to Order

Steve Hoyt called the meeting to order at 4:29 pm

2. Opening Prayer Steve Hoyt led the opening prayer.

3. Approval of November 5, 2019 Minutes Shannon Matteson made a motion to approve the November 5, 2019 minutes.

Linda Bruckner seconded. All were in favor. None opposed.

4. Year End Financial Reports Income Statement & Narrative – Tim gave an overview of the income statements noting that Q4 TEFAP has not yet come in. There is a decent surplus and $194k in operating reserves. He explained that 30-40% of donated product is from other food banks, however we do not turn away our local partners. Natasha added that it’s a priority that we buy locally which maintains local relationships. The group inquired whether there were any changes in development because of updated tax laws. Natasha explained that lower-dollar donors are not likely itemizing. She noted that the number of those donors decreased, however, the average gift amount increased, and we gained additional Circle to Feed Hope members. Steve Hoyt shared that the 2020 budget was built around anticipated additional TEFAP funding, noting that we are on the same pace as last year and that vouchers will be submitted in Q1 – Tim confirmed that we are on target. Tim explained the origins and details of the Mother Cabrini grant

Board Member In Attendance Unable to Attend Steve Hoyt (chair) X Dick Pirozzolo X Karl Krebs X Krista Niles-Updyke X Linda Bruckner X Mark Hillegas X Michael Eisner X Nancy Miller X (Zoom) Shannon Matteson X Patty McLellan X Meghan Rose X Joe Thomas X Ex-Officio Natasha Thompson X Staff Tim Currie X Karen Owen X Lynn Dates X

that funds projects focused on social determinates of health. We applied for support of our produce program. Balance Sheet – It was noted that the balance sheet is in good shape Cash Flow Report – It was noted that cash flow has not been a concern Dashboards – Tim reviewed the Dashboards, noting that CHOW’s pounds are trending positively, adding that we are distributing higher quality, nutritious food. Tim reviewed increases in reserves which is a component of unrestricted funds through the year. Natasha and Steve added that the Committee should plan a yearly review of the BOD Designated Building Fund and that this activity should be added to the tracking calendar. Communis Fund – The group discussed Communis benchmarking and plan to invite the fund advisors to address the committee yearly. The group informally agreed to issue an RFP every five years – led by a sub-committee of the group – and plans to discuss the topic further in May.

Karl Krebs made motion to approve the Year End Financial Reports. Linda Bruckner seconded. All were in favor. None opposed.

5. Review 2019 Investment Performance The group discussed what our investment goals should be and agreed to have this conversation with the rest of the BOD before making any changes to our existing plan.

6. Endorsement of Checks - Three checks were presented

It was noted that the audit review would take place at the May 5, 2020 meeting. The meeting was adjourned at 5:44 pm

Minutes respectfully submitted by, Lynn Dates, Executive Assistant to Natasha Thompson, President & CEO

FOOD BANK OF THE SOUTHERN TIER

DIVISION OF CATHOLIC CHARITIES OFTHE DIOCESE OF ROCHESTER

REPORT TO THE AUDIT

COMMITTEE

May 5, 2020

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Executive Summary 1

Required Communications 2 - 4

Summary of Financials 5

Financial Highlights 6

Management Considerations 7 - 9

Draft Financial Statements

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We have performed our audit of Food Bank of the Southern Tier, Division of Catholic Charities

of the Diocese of Rochester (the Agency) financial statements in accordance with our audit

plan communicated to the Audit Committee on November 5, 2019. The results of our audit

procedures and the required communications at the conclusion of an audit are detailed in this

package. The key outcomes from the audit are as follows:

Audit Opinion We will issue an unmodified opinion on the financial statements of the Agency.

Internal Control We identified no material weaknesses in internal control in connection with our audit.

Audit Adjustments There were no adjustments in connection with our audit.

New Accounting

Standards

The Agency adopted and implemented three new

accounting standards for 2019:

Accounting Standards Codification Section 606,

Revenue from Contracts with Customers, and

Accounting Standards Update (ASU) 2018-08,

Clarifying the Scope and the Accounting

Guidance for Contributions Received and

Contributions Made

The adoption of these new standards had no impact

on the financial position or operations of the Agency,

but did result in expanded disclosures.

EXECUTIVE SUMMARY

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Matter to be Communicated Auditor’s Response

Auditor’s Responsibility Our responsibility, as described in professional standards, is to express an

opinion about whether the financial statements prepared by management with

your oversight are fairly presented, in all material respects, in accordance with

U.S. generally accepted accounting principles.

Accounting Policies Management is responsible for the selection and use of appropriate

accounting policies. The significant accounting policies used by the Agency

are described in Note 2 to the financial statements.

In 2019, the Agency adopted the following new accounting pronouncements:

Accounting Standards Codification Section 606, Revenue from Contracts with Customers, which outlines that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, ASC 606 revises current disclosure requirements in an effort to help financial statement users better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The modified retrospective adoption of ASC 606 had no effect on total net assets or changes in net assets for the Agency, but did expand note disclosures (Note 2 to the financial statements).

ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, clarifying the determination of whether a grant or contract is a contribution or an exchange transaction subject to other guidance. ASU 2018-08 was adopted using a modified prospective application and had no effect on total net assets or changes in net assets for the Agency.

No other new accounting policies were adopted during the year.

Corrected and Uncorrected

Misstatements

Professional standards require us to accumulate all misstatements identified

during the audit, other than those that are clearly trivial, and communicate

them to the appropriate level of management. There were no misstatements

identified as a result of our audit.

Accounting Transactions Significant transactions are those that are defined as financially material, or

unusual or infrequent in nature. We reviewed significant transactions and the

accounting policies management has used to account for those transactions.

We noted no transactions entered into by the Agency during the year for

which there is a lack of authoritative guidance or consensus.

All significant accounting transactions have been recognized in the financial

statements in the proper period.

REQUIRED COMMUNICATIONS TO THE AUDIT COMMITTEE

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Accounting Estimates Accounting estimates are an integral part of the financial statements prepared

by management and are based on management’s knowledge and experience

about past and current events and assumptions about future events. Certain

accounting estimates are particularly sensitive because of their significance to

the financial statements and because of the possibility that future events

affecting them may differ significantly from those expected. The most sensitive

estimates affecting the financial statements were:

Allowance for doubtful accounts receivable Revenue recognition for third-party payers

We evaluated the key factors and assumptions used to develop the sensitive

estimates and determined that they are reasonable in relation to the financial

statements taken as a whole.

Financial Statement

Disclosures

Certain financial statement disclosures are particularly sensitive because of

their significance to financial statement users. The 2019 financial statements

include two disclosures to bring to your attention:

COVID-19: The financial statements include disclosure regarding the COVID-19 disruption occurring subsequent to year-end and the uncertainty related to the effect this disruption might ultimately have on the Agency’s financial position.

Child Victims Act: The financial statements also include disclosure regarding the Child Victims Act and the effect that legal proceedings related to the Child Victims Act might have on Catholic Charities of the Diocese of Rochester (CCDR) and the Agency and the uncertainty of the ultimate effect of this matter on the financial position of both CCDR and the Agency.

The financial statement disclosures are neutral, consistent, and clear.

Disagreements with Management For purposes of this letter, a disagreement with management is a financial

accounting, reporting, or auditing matter, whether or not resolved to our

satisfaction, that could be significant to the financial statements or the auditor’s

report.

No such disagreements arose during the course of our audit.

Management Representations We will request certain representations from management that will be included

in the management representation letter.


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Difficulties Encountered

in Performing the Audit

The COVID-19 disruption occurred during the scheduled conduct of our audit.

This disruption created challenges related to the logistics of both our staff and

yours working from alternate locations, reliance on remote communication

rather than spending time at your office locations, and, for a time, emergent

operating priorities taking precedence over the audit process.

We appreciate the efforts of your accounting and management personnel

during this challenging time. We worked collaboratively with your personnel

to meet the reporting deadlines originally established for the audit process.

Management Consultations with

Other Independent Accountants

In some cases, management may decide to consult with other accountants

about auditing and accounting matters, similar to obtaining a “second opinion”

in certain situations. If a consultation involves application of an accounting

principle to the Agency’s financial statements or a determination of the type of

auditor’s opinion that may be expressed on those statements, our

professional standards require the consulting accountant to check with us to

determine that the consultant has all the relevant facts.

To our knowledge, there were no such consultations.

Other Audit Findings or Issues that

were discussed with Management

We generally discuss a variety of matters, including the application of

accounting principles and auditing standards, with management prior to the

start of the audit process. However, these discussions occurred in the normal

course of our professional relationship and our retention as auditors was not

contingent on our responses.

Restriction on use of Information This required auditor’s communication is intended solely for the use of the

Audit Committee and management of the Agency and is not intended to be,

and should not be, used by anyone other than these specified parties.


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Summary The Agency’s overall financial position remains strong at the end of 2019. The Agency incurred an

annual operating deficit again this year as the capital contributions from prior years continue to be used for their intended purposes. The Agency overall incurred an annual surplus, due to improved performance of investments in 2019.

Revenue and Support – Increased to $15,262,000 from $12,590,000 Food-in-kind revenue increased $2.4M, primarily due to trade mitigation and the United States

Department of Agriculture (USDA) providing the Agency with $3.3M of additional funds available to assist in operational costs of the receipt, storage and distribution of foods in 2019. This increase was offset by a $908K decrease in general donated food year-over-year.

Contributions increased $148K due to the Agency seeing success in the efforts of increased mail solicitations in 2019.

Program fees increased $126K, primarily due to an increase in Hunger Prevention and Nutrition Assistance Program (HPNAP) wholesale distribution in 2019.

Expenses – Increased to $15,383,000 from $13,196,000 Food-in-kind assistance increased $2.4M, corresponding to the annual revenue increase. Purchased food decreased $197K, directly related to the increase in The Emergency Food

Assistance Program (TEFAP) donated food and funds in 2019 versus 2018. Specific assistance decreased $79K, primarily related to HPNAP being on an 8-month extension

for the contract period in November 2019 and therefore the Agency only had a partial amount from HPNAP to allocate in the current year.

Net Results Result from operations is a $120K deficit vs. a $605K deficit in the prior year. Non-operating activity consisted of net investment gains of $294K versus net investment losses of

$114K in the prior year. Additionally, the Agency did not receive any property and equipment contributions in 2019 versus $69K in 2018.

Net bottom line is a surplus of $174K versus a deficit of $647k in the prior year. The prior year deficit was driven by the expenditure of restricted fundraising amounts from previous years.

Balance Sheet Overall financial condition remains strong with total net assets of $7.1M and a current ratio of 2.71. Total assets increased $1.1M, primarily driven by the following factors:

o Donated inventory increased $936K, directly related to the trade mitigation and increased donated food from USDA for the distribution of foods in 2019.

o Investments increased $294K, primarily due to strong market conditions in 2019.o Pledges receivable decreased $70K, due to collections on previous year’s pledges and no

new pledges in the current year.o Property and equipment decreased $57K, due to annual depreciation expense of $328K,

offset by additions of $271K. Total liabilities increased $916K, primarily driven by the following factors:

o Increase in donated inventory liability of $936K, corresponding to the annual inventory increase.

o Decrease in deferred revenue of $94K, primarily due to the Mother Cabrini grant of $125K being received in 2019 to be used for 2020, compared to HPNAP deferred funding of $213K in 2018 that was not within the 2019 balance due to timing of payments year-over-year.

SUMMARY OF 2019 FINANCIAL RESULTS

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THE FOOD BANK OF THE SOUTHERN TIER,DIVISION OF CATHOLIC CHARITIES OF THE DIOCESE OF ROCHESTER

FINANCIAL HIGHLIGHTS

2015 - 2019

Target

2015 2016 2017 2018 2019 Level

I. Balance Sheet:

Assets -

Cash 1,323,945$ 2,062,270$ 1,802,020$ 1,650,890$ 1,678,451$

Accounts receivable 371,595 141,658 349,327 370,367 372,326

Due from affiliates, net 237,922 217,033 - - -

Property and equipment, net 3,631,739 3,497,512 3,681,983 3,467,035 3,409,558

Pledges receivable, net 125,393 371,402 210,527 126,181 56,349

Inventory 1,125,432 1,401,878 1,076,875 943,773 1,851,945

Investments 1,061,440 1,167,051 1,615,891 1,501,732 1,795,889

Prepaid expenses 19,810 72,388 49,543 63,335 49,050 Total assets 7,897,276$ 8,931,192$ 8,786,166$ 8,123,313$ 9,213,568$

Liabilities and net assets -Accounts payable and accrued expenses 310,960$ 463,262$ 299,708$ 382,354$ 456,477$ Deferred revenue 844,382 1,016,197 897,679 799,059 1,641,318

Total liabilities 1,155,342 1,479,459 1,197,387 1,181,413 2,097,795 Net assets 6,741,934 7,451,733 7,588,779 6,941,900 7,115,773

Total liabilities and net assets 7,897,276$ 8,931,192$ 8,786,166$ 8,123,313$ 9,213,568$

II. Operating Results:

Revenue 13,990,556$ 13,641,985$ 13,667,109$ 12,590,622$ 15,262,223$

Expenses: Program services 12,952,380 12,268,778 12,645,973 11,780,793 13,911,905 Management and general 462,307 499,812 686,428 665,957 665,832 Fundraising 723,104 743,193 837,004 749,206 804,769

Total expenses 14,137,791 13,511,783 14,169,405 13,195,956 15,382,506

Change in net assets before other items (147,235) 130,202 (502,296) (605,334) (120,283)

Other items:

Capital campaign or other restricted contributions - 473,986 426,800 69,114 - Gain on sale of property and equipment - - 13,703 3,500 - Investment income (loss), net (32,448) 105,611 198,839 (114,159) 294,156

Change in net assets (179,683)$ 709,799$ 137,046$ (646,879)$ 173,873$

Percent change in revenue -1.90% 0.90% -0.16% -10.18% 20.56%

Percent change in expenses -2.44% -4.43% 4.87% -6.87% 16.57%

Program Services Expense as % of Total 91.62% 90.80% 89.25% 89.28% 90.44%

Supporting Services Expenses as % of Total 8.38% 9.20% 10.75% 10.72% 9.56% under 15%

III. Key Financial Indicators:

Current ratio 2.77 3.54 4.12 3.86 2.71 > 2.0

Working capital 2,048,755$ 3,750,624$ 3,735,136$ 3,372,791$ 3,594,084$

Days in accounts receivable 13 14 15 14 10 45 or less

Days in accounts payable, excluding accrued

expenses and food-in-kind expense 16 34 13 18 25 30-40

Days operating cash 84 138 111 104 110 90

Total liabilities to equity 0.17 0.20 0.16 0.17 0.29 < 2.0 to 1

Food-In-kind assistance 8,322,778$ 7,765,266$ 7,971,189$ 7,075,263$ 9,481,222$

Contributions, including capital campaign, > $6.00 during campaign per dollar of fundraising expense 3.46$ 4.71$ 3.63$ 3.54$ 3.39$ > $3.00 normally

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1. COVID 19COVID-19 has had a pervasive impact across our society and our economy. The human toll of the virus is widely measured and reported. The financial impact on not-for-profit organizations is less clear. With the COVID-19 situation changing very rapidly, a written document like this is likely to be outdated by the time we meet to discuss it. Even so, here are four general considerations as we move through 2020 and beyond:

Food insecurity in the headlines – Long lines at foodbanks around the United States are an almost daily story on-line and from traditional news outlets. The degree to which Americans are subject to food insecurity as a result of the disruption to our society and economy is eye-opening to a broad swath of people who previously might not have had awareness of this issue. Responding to the immediate need is of course the number one priority. Capturing the increased attention in pursuit of longer-term furtherance of your mission is worthwhile to think about even as the immediate response is on-going.

Financial viability risk – Before COVID-19, not-for-profit organizations faced significant financial challenges. Many were positioned with little reserves to draw on for an emergency situation, and are now facing cash flow shortfalls and, in some cases, existential financial problems. The Agency should monitor the financial viability of those organizations it typically partners with on programmatic delivery of services. Contingency plans should (another) unexpected change occur in the near-term should be considered and discussed at the Finance Committee/ Board level.

Financial viability opportunity – The flip side of financial viability risk is that there may be organizations looking for a “partner” with which to work collaboratively on continuing and furthering their mission. To the extent that the Agency can continue to position itself as a partner in this capacity, the pace of collaborative effort opportunities may accelerate as we move through 2020. Maintaining an open attitude about such opportunities even in the midst of a crisis could prove beneficial to the larger community and to the furtherance of the Agency’s overall mission.

Charitable giving – There is a general sense of caution as uncertainty compels people to hang on to cash and other resources. The reduction in value of investment portfolios has also caused a reduced willingness to liquidate positions. Numerous fundraising events have been cancelled. At the same time, specific charitable causes are seeing notable positive fundraising results tied to COVID-19 causes and relief. It is likely that fundraising related to current COVID-19 relief efforts and/or efforts to recover as we come out of the COVID-19 crisis will resonate with donors as we move through 2020.

Investment portfolios and endowment spending – The value of investment portfolios has decreased materially in 2020. No one can predict when investment values will return to pre-COVID-19 levels. Another factor is investment policies and the temptation to try to “time” the market. Generally speaking, attempting to time the market is not advised. Revisiting investment policies in general is a common topic of discussion at this time; making drastic policy changes in light of the current market situation is not advisable.

The long-term impact of the COVID-19 situation on how not-for-profit organizations do business is yet to be seen. Organizations with and a culture of open, forward-thinking communication, like the Agency, are best positioned to weather the storm.

2. Paycheck Protection Plan LoansWhile the Agency did not apply for a PPP loan, virtually every other division of CCDR did. This loan program was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020. A key element of the PPP loan program is that the loan balance can be forgiven if the loan funds are expended on certain eligible expenses and the borrower’s FTE data stays steady as compared to the pre-COVID-19 FTE complement. The PPP program is administered by the U.S. Small Business Administration (SBA) through banks and credit unions.

MANAGEMENT CONSIDERATIONS

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2. Paycheck Protection Plan Loans (Continued)Two elements of PPP are of note related to the Agency’s participation. To be eligible to participate in PPP, an employer must consider its affiliated entities and aggregate its employee data with those affiliates to evaluate whether it qualifies as a “small business” as required. To qualify as a “small business,” an employer, when considered with its aggregated affiliates, must have no more than 500 employees or meet certain other eligibility criteria previously established by the SBA.

As a single corporate entity with ten operating divisions CCDR has over 1,500 employees in the aggregate.

Admittedly, the criteria related to PPP loans are quite involved and subject to interpretation. These criteria changed several times over the few weeks that the PPP program was available. There continues to be wide-spread confusion regarding these rules and CCDR is not alone in considering these after-the-fact questions.

Each division of CCDR certified its eligibility for the PPP loan program as part of their application, including that they each met the “small business” requirements and that only one PPP loan would be applied for per entity. The Agency should be aware that CCDR is taking action to document its eligibility for the PPP program, including consideration of the following:

1. All PPP loans are subject to Freedom of Information Act disclosure since they are administered by the SBA, and therefore you can’t predict who may pose questions or when those questions will be posed.

2. While the PPP loans have been rolled out and disbursed rather quickly to respond to the COVID-19 disruption, at some point in the future there will be time for SBA or another regulatory or oversight body to review the program activity in more detail and (perhaps) scrutinize that activity more closely.

3. If there are questions about CCDR’s eligibility for PPP participation, having a response to those questions at hand will be much more effective than trying to establish a response in a defensive manner at the time questions are posed.

4. The likelihood of CCDR’s (and the Agency’s) finances being scrutinized by third-parties in the short-term is relatively high due to the Child Victims Act activity in which CCDR is involved.

3. Strategic Planning and DirectionIn our report to you last year, we discussed the Agency’s strategic planning and the strategic planning of CCDR on an overall basis, recommending that common elements be established from which each CCDR division could base its strategy in a consistent and coordinated manner.

This year, we noted that some current programmatic and administrative initiatives have been conducted in a more coordinated manner. We also noted a heightened awareness of personnel across the divisions that they are part of the larger CCDR organization. We even see some longer-term “big thinking” strategy moves being conducted in a coordinated manner for the stated benefit of all CCDR divisions. All of these are positive steps and we encourage all CCDR personnel to continue to think and act towards more strategic integration.

We recommend that CCDR further enhance its strategic process by establishing centralized coordination and review of each division’s strategic plan by the consolidated CCDR Board to implement consistency. The expectation that management across CCDR’s divisions will formulate and implement major goals and initiatives in a coordinated manner, based on consideration of resources and an assessment of the internal and external environments in which CCDR competes as a whole, should be clearly established and communicated.


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4. ASU 2016-02 - LeasesIn February 2016, the FASB issued ASU 2016-02 entitled “Leases.” The overall impact of this ASU will be torequire virtually all lease commitments that extend for more than 12 months to be recorded as liabilities bylessees, with an equivalent right-to-use asset.

One significant change in the new standard is the consideration of lease renewal or extension options. Whencalculating the cash flow commitment that will give rise to the liability to be recorded under this standard, cashflows related to extension and renewal periods must be included to the extent the lessee is “reasonably certain toexercise the option.” This differs from current theory that a commitment only exists for renewal or extensionoptions that have actually been exercised. This is a subtle difference but could have a material effect on theliability recorded in accordance with the new standard.

This ASU will also require the Agency to establish processes in the accounting function to track lease activity,evaluate lease elements such as the effect of optional renewal clauses and/or early termination clauses, andamortize both the lease-related assets and liabilities on a go-forward basis.

We recommend that the Agency spend time in 2019 clearly identifying all lease arrangements. Specificconsideration of renewal or extension options should be included. This will allow for smoother evaluation of theimpact of the new lease rule, and for smoother implementation when required.

This standard will be effective for the Agency’s year ending December 31, 2020, unless the effective date isdelayed by the FASB in response to the COVID-19 disruption.

5. NYS SHIELD ActNew York State recently passed a new Cybersecurity Law that affects every business in NY. The “Shield Act” isan enhancement of municipal business law 208-a and general business law 899-aa. The law affects almostevery business in NY with NYS computerized resident data (and others outside NYS with NY resident data). Thelaw adds multiple requirements for mandatory, documented, internal and third-party risk management, policiesand procedures, advanced testing, training, named security official, and cyber protection of the personallyidentifiable information already covered in other NYS laws. It includes new data points to be protected such asuser name, email addresses, passwords, biometrics, etc. and adds updated notifications, added a breachdefinition very similar to other federal laws that state unauthorized access and states a reportable HIPAA breachmust be communicated to the AG as well.

Compliance is now a requirement as of March 2020.


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THE FOOD BANK OF THE SOUTHERN TIER,DIVISION OF CATHOLIC CHARITIESOF THE DIOCESE OF ROCHESTER

Financial Statements as ofDecember 31, 2019

Together with Independent Auditor’s Report

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(Continued)

INDEPENDENT AUDITOR’S REPORT

May 5, 2020

To the Board of Directors ofThe Food Bank of the Southern Tier, Division of Catholic Charities of the Diocese of Rochester:

Report on the Financial StatementsWe have audited the accompanying financial statements of The Food Bank of the Southern Tier, Division of Catholic Charities of the Diocese of Rochester (a New York not-for-profit corporation) (the Agency) which comprise the balance sheet as of December 31, 2019 and the related statements of activities and change in net assets, functional expenses, and cash flows for the year then ended, and the related notes to the financial statements.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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INDEPENDENT AUDITOR’S REPORT(Continued)

OpinionIn our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Agency as of December 31, 2019 and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Change in Accounting PrincipleAs described in Note 2 to the financial statements, the Agency implemented Accounting Standards Codification Section (ASC) 606, Revenue from Contracts with Customers, and ASU 2018-08,Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, as of January 1, 2019, and the effects have been included in these financial statements. Our opinion is not modified with respect to these matters.

Report on Summarized Comparative InformationWe have previously audited the Agency’s 2018 financial statements, and we expressed an unmodified audit opinion on those audited financial statements in our report dated May 8, 2019. In our opinion, the summarized comparative information presented herein as of and for the year ended December 31, 2018 is consistent, in all material respects, with the audited financial statements from which it has been derived.

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2019 2018

ASSETS

CURRENT ASSETS:Cash 1,678,451$ 1,650,890$ Investments 1,700,477 1,421,948 Accounts receivable 83,005 27,932 Grants receivable 289,321 342,435 Prepaid expenses 49,050 63,335 Current portion of pledges receivable, net 39,630 103,891 Inventory - donated 1,508,135 571,982 Inventory - purchased 343,810 371,791

Total current assets 5,691,879 4,554,204

OTHER ASSETS:Pledges receivable, net of current portion 16,719 22,290 Investments - endowment 95,412 79,784 Property and equipment, net 3,409,558 3,467,035

Total other assets 3,521,689 3,569,109

Total assets 9,213,568$ 8,123,313$

LIABILITIES AND NET ASSETS

LIABILITIES:Accounts payable 211,024$ 164,339$ Accrued liabilities 245,453 218,015 Deferred revenue - donated inventory 1,508,135 571,982 Deferred revenue - other 133,183 227,077

Total liabilities 2,097,795 1,181,413

NET ASSETS:Without donor restrictions -

Undesignated 6,415,227 6,096,249 Board designated 470,246 420,117

Total without donor restrictions 6,885,473 6,516,366

With donor restrictions 230,300 425,534

Total net assets 7,115,773 6,941,900

Total liabilities and net assets 9,213,568$ 8,123,313$

(With Comparative Totals for 2018)

THE FOOD BANK OF THE SOUTHERN TIER,

BALANCE SHEETDECEMBER 31, 2019

DIVISION OF CATHOLIC CHARITIES OF THE DIOCESE OF ROCHESTER

The accompanying notes are an integral part of these statements.1

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Without Donor With Donor

Restrictions Restrictions Total 2018

OPERATING SUPPORT AND REVENUE:

Food-in-kind assistance 9,481,222$ -$ 9,481,222$ 7,075,263$

Grants and contracts 2,100,642 - 2,100,642 2,086,934

Contributions 2,727,506 - 2,727,506 2,579,516

Program fees 878,817 - 878,817 753,203

Other income 74,036 - 74,036 95,706

Net assets released from restrictions 60,893 (60,893) - -

Total operating support and revenue 15,323,116 (60,893) 15,262,223 12,590,622

OPERATING EXPENSES:

Program 13,911,905 - 13,911,905 11,780,793

Management and general 665,832 - 665,832 665,957

Fundraising 804,769 - 804,769 749,206

Total operating expenses 15,382,506 - 15,382,506 13,195,956

DEFICIENCY OF OPERATING SUPPORT AND

REVENUE OVER OPERATING EXPENSES (59,390) (60,893) (120,283) (605,334)

OTHER CHANGES IN NET ASSETS:

Contributions restricted for acquisition of property

and equipment - - - 69,114

Net appreciation (depreciation) of investments 278,528 15,628 294,156 (114,159)

Net assets released from restrictions for

acquisition of property and equipment 149,969 (149,969) - -

Gain on disposal of property and equipment - - - 3,500

CHANGE IN NET ASSETS 369,107 (195,234) 173,873 (646,879)

NET ASSETS - beginning of year 6,516,366 425,534 6,941,900 7,588,779

NET ASSETS - end of year 6,885,473$ 230,300$ 7,115,773$ 6,941,900$

2019



STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2019


The accompanying notes are an integral part of these statements.

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STATEMENT OF FUNCTIONAL EXPENSES

FOR THE YEAR ENDED DECEMBER 31, 2019


Program Management

Services and General Fundraising Total 2018

Food-in-kind assistance 9,481,222$ -$ -$ 9,481,222$ 7,075,263$

Compensation 1,408,450 346,255 273,842 2,028,547 1,999,752

Purchased food 1,629,585 - - 1,629,585 1,826,918

Employee benefits 354,856 74,584 78,511 507,951 496,762

Contract and professional services 154,511 220,139 35,886 410,536 387,547

Depreciation 324,325 4,126 - 328,451 315,148

Direct mail - - 243,142 243,142 236,201

Transportation 96,474 2,791 2,215 101,480 99,202

Specific assistance 95,386 - - 95,386 174,183

Advertising and public relations 43,728 974 50,056 94,758 125,146

Special events - - 93,894 93,894 77,466

Maintenance and repairs 88,834 - - 88,834 91,704

Occupancy 79,644 4,129 - 83,773 86,451

Insurance 57,939 1,637 3,896 63,472 58,793

Supplies 37,631 2,543 20,147 60,321 72,569

Conferences, training and meetings 29,295 7,018 3,056 39,369 46,947

Other 30,025 1,636 124 31,785 25,904

Total operating expenses 13,911,905$ 665,832$ 804,769$ 15,382,506$ 13,195,956$

2019

The accompanying notes are an integral part of these statements.

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2019 2018

CASH FLOW FROM OPERATING ACTIVITIES:Change in net assets 173,873$ (646,879)$ Adjustments to reconcile change in net assets to net cash flow from operating activities:

Depreciation 328,451 315,148 Change in discount on pledges receivable 954 (52) Net (appreciation) depreciation of investments (294,156) 114,159 Capital campaign contributions - (69,114)

Gain on disposal of property and equipment - (3,500)

Changes in:Accounts receivable (55,073) 34,911 Pledges receivable, net - (50,000) Grants receivable 53,114 (55,951) Prepaid expenses 14,285 (13,792) Inventory 27,981 133,102 Accounts payable 46,684 1,487 Accrued liabilities 27,438 81,159 Deferred revenue (93,894) (98,620)

Net cash flow from operating activities 229,657 (257,942)

CASH FLOW FROM INVESTING ACTIVITIES:Proceeds from sale of property and equipment - 3,500 Purchases of property and equipment (270,974) (100,200)

Net cash flow from investing activities (270,974) (96,700)

CASH FLOW FROM FINANCING ACTIVITIES:Capital campaign cash receipts 68,878 203,512

Net cash flow from financing activities 68,878 203,512

CHANGE IN CASH 27,561 (151,130)

CASH - beginning of year 1,650,890 1,802,020

CASH - end of year 1,678,451$ 1,650,890$



STATEMENT OF CASH FLOWSFOR THE YEAR ENDED DECEMBER 31, 2019


The accompanying notes are an integral part of these statements.4

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NOTES TO FINANCIAL STATEMENTSDECEMBER 31, 2019

1. THE ORGANIZATION

The Food Bank of the Southern Tier (the Agency) is a division of Catholic Charities of the Diocese of Rochester (CCDR). The Agency is a not-for-profit organization that distributes quality food through its hunger relief agencies in Broome, Chemung, Schuyler, Steuben, Tioga,and Tompkins Counties, New York and develops innovative programs to address the problem of hunger.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of AccountingThe Agency’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).

Change in Accounting PrincipleASC 606, Revenue from Contracts with CustomersThe Financial Accounting Standards Board (FASB) issued new guidance that created Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers. Topic 606 outlines a five-step framework that supersedes the previously effective principles for recognizing revenue (ASC Topic 605) and eliminates industry-specific guidance. The core principle of the guidance in Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Note that the recognition of contribution income and income from investments is not within the scope of Topic 606.

The Agency adopted Topic 606 for the year ended December 31, 2019, using a modified retrospective application. The Agency’s program fees revenue is within the scope of Topic 606. Adopting Topic 606 had no effect on net assets or changes in net assets. Topic 606 requires new disclosures related to the Agency’s methodology for recognition of revenue. These additional disclosures are included in this Note under the sub-heading Program Fees and Receivables.

ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Receivedand Contributions MadeIn June 2018, the FASB issued ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, in order to clarify and improve the scope and the accounting guidance for contributions received and contributions made. ASU 2018-08 clarifies the determination of whether a grant or contract is a contribution or an exchange transaction subject to Topic 606. The Agency adopted ASU 2018-08 as of January 1, 2019, using a modified prospective application. There was no effect on total net assets or changes in net assets.Draf

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Financial ReportingThe Agency reports its net assets and changes therein in the following classifications:

Net Assets Without Donor Restrictions are net assets that are not subject to donor imposed stipulations. The Board of Directors, through voluntary resolutions, has set aside portions of the Agency’s net assets without donor restrictions to be used exclusively for specific purposes.

Net Assets With Donor Restrictions are net assets whose use by the Agency is limited by donor imposed stipulations. This includes stipulations that can be fulfilled or removed by actions of the Agency pursuant to the stipulations or by the passage of time, as well as donor imposed stipulations that do not expire. In cases where the donor imposed stipulation does not expire, generally the donor of these net assets permits the Agency to use all or part of the investment return on the related assets to support collection acquisitions or other program activities.

OperationsThe statement of activities and change in net assets present the changes in net assets of the Agency from operating activities and from non-operating activities. Operating revenues and expenses relate primarily to the acquisition of food and related goods and the provision of that food and related goods to organizations and individuals. Operating activities also includes outreach and other programmatic activities related to addressing food insecurity.

Non-operating activities reflect transactions not related to current year operations. These include contributions from donors to be invested perpetually by the Agency to generate a return that will support operations, contributions from donors restricted for acquisition of property and equipment, income or losses on the Agency’s investment portfolio, and gains or losses on disposals of property and equipment.

CashCash consists of bank demand deposit accounts which, at times, may exceed federally insured limits. The Agency has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk with respect to cash.

Property and EquipmentProperty and equipment is stated at cost, if purchased, or fair value at the date of donation. Depreciation is recorded using the straight-line method over the estimated useful lives of the related assets, which range from three to thirty years. The Agency capitalizes individual property and equipment items with a cost or fair value at the date of donation greater than $1,000 that have a useful life greater than one year.

InvestmentsInvestments are stated at fair value. Investment securities are exposed to various risks, such as interest rate, market, economic conditions, world affairs and credit risks. Due to the level of risk associated with certain investment securities, it is possible that changes in their values could occur in the near term and such changes could materially affect the net assets of the Agency.

Fair Value MeasurementFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability.

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Fair Value Measurement (Continued)GAAP establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

Level 1 Inputs - Valuations are based on quoted prices in active markets for identical assets or liabilities that the Agency has the ability to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 Inputs - Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. In addition, investment securities valued based on the net asset value of the underlying investment pool are classified as being valued based on level 2 inputs.

Level 3 Inputs - Valuations are based on unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.

Program Fees and ReceivablesThe Agency recognizes program fees revenue in the period in which the performanceobligations defined by the terms of contracts with customers are satisfied. The Agency’s performance obligations fall under its overall mission to develop and operate programs that address the problem of hunger and food insecurity. The Agency’s performance obligations include distributing quality food through community organizations.

Program fees are recognized at the amount to which the Agency expects to be entitled. The Agency requests that participating not-for-profit agencies contribute various amounts depending on the type of product received for each pound of product they receive. This revenue is used to cover the cost of food handling as well as general operating expenses. This revenue is included in program fees on the accompanying statement of activities and change in net assets. Program service fees also include revenue related to wholesale distribution of food throughout the community. The performance obligation related to program service fees is satisfied as the food and other goods are distributed.

The Agency determines the transaction price based on the volume and/or weight of food and related goods distributed in each distribution transaction. The Agency expects to collect established net charges. The Agency performs an assessment of a customer’s ability to pay for services prior to providing services. Based on this, the Agency has determined that there are no implicit price concessions provided to those the Agency serves.

Because performance obligations are met as program services are provided, there are no service fees allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. Program service revenue is charged and collected periodically. Amounts that remain uncollected at the end of a reporting period are recorded as accounts receivable. Amounts for which no payments have been received for several months are considered delinquent and when appropriate collection efforts are exhausted, the account is written-off. The Agency did not record an allowance for doubtful accounts in 2019 or 2018.Draf

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Food-In-Kind AssistanceContributions of noncash assets, such as food in-kind services, are recorded at their fair values on the date received. The Agency’s policy is to record food-in kind as revenue as it is distributed; undistributed food is recorded as both inventory and deferred revenue upon receipt.

Grants and ContractsRevenue from grants and contracts is recognized when conditions from the grantor are met and there are no barriers to be overcome. Amounts received in advance of such conditions being met are reported as deferred revenue.

Contributions and Pledges Receivable All contributions are considered to be available without restriction unless specifically restricted by the donor. Amounts received that are designated for future periods or restricted by the donor for specific purposes or in perpetuity are reported as support that increases net assets with donor restrictions. When a donor restriction expires, that is, when a stipulated time restriction ends, or purpose restriction is accomplished, net assets with restrictions are reclassified as net assets without restrictions and reported as net assets released from restrictions in the accompanying statement of activities and changes in net assets. Conditional promises to give are not included as support until the conditions are met.

The Agency records an allowance for doubtful pledges receivable based on experience and a review of specific accounts. An allowance of $2,982 and $9,097 was recorded for the years ended December 31, 2019 and 2018, respectively. Accounts are written-off when reasonable collection efforts have been exhausted. Amounts totaling $460 were written off in the year ended December 31, 2018. No amounts were written off in the year ended December 31, 2019.

Donated Services Volunteers have donated significant amounts of time in support of the Agency’s program activities. The value of these services is not reflected in the accompanying financial statements as they do not meet the criteria for recognition.

AdvertisingAdvertising costs are charged to expense as incurred.

Income Taxes The Agency is a division of CCDR, a not-for-profit corporation that is exempt from income taxes as an organization qualified under Section 501(c)(3) of the Internal Revenue Code. CCDR has also been classified by the Internal Revenue Service as an entity that is not a private foundation.

Allocation of Certain ExpensesThe statement of functional expenses presents expenses by both functional and natural classification. Certain categories of expenses are attributable to one or more program or supporting functions, and these expenses are allocated to the reported functional columns. Natural expenses that are allocated across functional classifications include compensation and employee benefits, which are allocated based on the estimated percentage of time that each employee spends in each functional area, and occupancy and depreciation, which are allocated based on the approximate occupation and utilization of the Agency’s facilities and buildings and equipment.

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Due from AffiliateFunds in excess of the Agency’s current needs may be loaned to other agencies of CCDR under terms specified in a promissory note between the Agency and the borrower. Current need is defined as one month’s operating expense based on the annual budget process. CCDR’s Finance Director has discretion in coordination with the Agency’s President/CEO and/or Business Director with oversight from the Finance Committee, to manage the lending and repayment of surplus funds.

The Agency will lend surplus funds to agencies of CCDR, only if they have an established line of credit with a financial institution and could draw upon funds from another source in order to repay the Agency. Interest will be paid at least on a quarterly basis. Interest owed shall not be added to the outstanding indebtedness. Interest will be at the prime rate less 1%. The amounts loaned to each affiliate and their outstanding balance will be tracked by the CCDR Finance Department. At December 31, 2019 and 2018, there were no amounts due under this arrangement.

InventoryInventory purchased by the Agency is stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out (FIFO) method. Foods donated by The Emergency Food Assistance Program are valued by the New York State Office of General Services. Foods donated through a national food bank network and by various local sources are valued using a price per pound developed by the network. This value is included in inventory -donated on the balance sheet.

Comparative Information The financial statements include certain prior year summarized comparative information in total but not by net asset class or functional expense classification. Such information does not include sufficient detail to constitute a presentation in accordance with GAAP. Accordingly, such information should be read in conjunction with the Agency's financial statements for the year ended December 31, 2018, from which the summarized information was obtained.

EstimatesThe preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

ReclassificationsCertain reclassifications have been made to the 2018 financial statements to conform to thecurrent year presentation.

3. LIQUIDITY AND AVAILABILITY OF RESOURCES

The Agency is substantially supported by contributions without donor restrictions and revenue generated by its operations. In addition, some support is received in the form of restricted contributions from donors. Because a donor restriction requires resources to be used in a particular manner or in a future period, the Agency must maintain sufficient resources to meet those responsibilities to its donors. Thus, financial assets may not be available for general expenditure within one year. Draf

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3. LIQUIDITY AND AVAILABILITY OF RESOURCES (Continued)

As part of the Agency’s liquidity management, it structures its financial assets to be available as its general expenditures, liabilities, and other obligations come due. In addition, the Agency invests cash not needed for short-term programmatic, administrative, or property and equipment needs. Such investments can be liquidated on short notice if necessary, with the exception of investments representing net assets restricted by donors perpetually.

The Agency’s financial assets available to meet cash needs for general expenditures within one year are:

2019 2018

Financial assets at December 31 $ 3,903,015 $ 3,649,170

Less: Financial assets unavailable for general expenditures within one year, due to:

Designations by the Board for specific purposes (470,246) (420,117) Restricted by donor perpetually (86,808) (73,368) Subject to satisfaction of donor restrictions (143,492) (352,166)

Financial assets available to meet cash needs forgeneral expenditures within one year $ 3,202,469 $ 2,803,519

Should the need for additional cash availability arise, the Agency has a line-of-credit agreement with a bank that allows for total borrowings of $400,000 (Note 7). Additionally, the Agency has arrangements with other CCDR divisions; Catholic Charities of Chemung/Schuyler, Catholic Charities of Steuben, and Catholic Charities of Thompkins/Tioga, wherebythe divisions may borrow from and lend to each other to meet short-term needs (Note 9).

The Agency’s general cash expenditures within one year do not include the amounts reported as food-in-kind assistance income or expense. Food-in-kind assistance represents the estimated value of food received and distributed without cash outlay. Therefore, the $9,481,222 and $7,075,263 reported as food-in-kind assistance for the years ended December 31, 2019 and 2018, respectively, representing approximately 62% and 54% of total operating expenses for 2019 and 2018, respectively, does not represent a cash expenditure (Note 8).

4. PLEDGES RECEIVABLE

Outstanding pledges are due as follows for the years ending December 31:

2020 $ 39,6302021 10,0002022 10,000

59,630

Less: Allowance for uncollectible pledges receivable (2,982)Less: Discount on pledges receivable (299)

56,349Less: Current portion (39,630)

$ 16,719

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5. INVESTMENTS

Investments consisted of the following at December 31:

2019 2018

The Communis Fund of the Diocese of Rochester(Communis) $ 1,795,889 $ 1,501,732

The following table summarizes investments measured at fair value on a recurring basis as of December 31, 2019 and 2018, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

2019

Level 1Inputs

Level 2Inputs

Level 3Inputs

Total Fair Value

Communis $ - $ 1,795,889 $ - $ 1,795,889

2018

Level 1Inputs

Level 2Inputs

Level 3Inputs

Total Fair Value

Communis $ - $ 1,501,732 $ - $ 1,501,732

Communis was organized by the Roman Catholic Diocese of Rochester (the Diocese) for the purpose of offering Diocesan organizations the opportunity to invest collectively to maximize investment opportunities and returns consistent with the duties of stewardship following the mandates of The Code of Canon Law of the Roman Catholic Church. The investments are managed by professional investment management firms and are overseen by Communis’ Board of Directors. Income is allocated to investors based on the percentage of the net asset value of their individual funds to the total investment balance.

The Agency utilizes information received from Communis regarding the composition of the pooled investment fund and the value of securities held in the fund. Communis values the securities in the fund based on quoted market prices, when available. Communis also holds fixed income securities for which no quoted market prices are available. Such fixed income securities are valued by Communis based on information on comparative securities, prevailing interest rates, and other factors. The Agency believes the valuation information received from Communis is reliable.

Under the terms of its arrangement with Communis, the Agency may make additional investments in Communis, but is under no obligation to do so. Withdrawals can be made at will, and are executed monthly with 15 days advance notice.

In some cases, withdrawals may be limited by specific donor stipulations and governed by the Agency’s endowment spending policy. See Note 13 regarding the Agency’s endowment funds.

There have been no changes to valuation techniques during 2019 or 2018.

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6. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at December 31:

2019 2018

Land $ 139,700 $ 139,700Buildings and improvements 3,344,370 3,281,670Furnishings and fixtures 300,897 300,897Equipment 1,369,708 1,300,592Vehicles 1,071,330 932,172

6,226,005 5,955,031

Less: Accumulated depreciation (2,816,447) (2,487,996)

Total $ 3,409,558 $ 3,467,035

Depreciation on property and equipment was $328,451 and $315,148 for the years ended December 31, 2019 and 2018, respectively.

7. FINANCING ARRANGEMENTS

Line of CreditThe Agency has a line of credit agreement with Chemung Canal Trust Company. The Agency may borrow up to $400,000 under the terms of the line of credit agreement. Amounts borrowed bear interest at 5.00%. There were no amounts outstanding under the terms of this agreement at December 31, 2019 or 2018.

8. FOOD-IN-KIND ASSISTANCE

The Agency receives donated food commodities through The Emergency Food Assistance Grant Program of the U.S. Department of Agriculture (USDA) as administered by the New York State Office of General Services. During the years ended December 31, 2019 and 2018, the Agency received food valued by the USDA at $4,454,731 and $1,140,747 with ending inventory of $1,033,154 and $48,045, respectively.

The Agency also receives donated food commodities from food producers through the efforts of a national food bank network (Feeding America) and by various local sources. That donated food is valued on a per pound basis based upon an amount assigned by Feeding America. During the years ended December 31, 2019 and 2018, the Agency received food valued at $5,026,491 and $5,934,516 with an ending inventory of $474,981 and $523,937respectively. The food received by the Agency is then distributed to eligible food pantries, soup kitchens and other qualified nonprofit agencies.

9. RELATED PARTY TRANSACTIONS

InsurancePrior to July 1, 2009, the Agency participated in the Diocesan pooled self-insurance program for property and liability coverage, in conjunction with all agencies of CCDR. As a participant in this program, the Agency paid insurance premiums to the Diocese and received insurance coverage to certain deductible limits for property and general liability, professional misconduct, officers' and directors', employee disability, and workers’ compensation insurances.

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9. RELATED PARTY TRANSACTIONS (Continued)

Insurance (Continued)Effective July 1, 2009, CCDR withdrew from the Diocesan pooled self-insurance program. At that date, all CCDR divisions, including the Agency, purchased commercial insurance from a third-party carrier. In addition, CCDR Diocesan Services Division assumed the estimated liability from the Diocese for known outstanding claims as of June 30, 2009, as well as assets from the Diocese related to accumulated premium deposits as of that date. The Agency has recorded no liability related to this insurance program.

Effective July 1, 2015, CCDR determined that CCDR Diocesan Services Division would purchase a bulk commercial insurance plan covering all CCDR divisions, including the Agency, and each division would reimburse CCDR Diocesan Services Division through monthly invoices for their portion of the coverage.

Payments made to CCDR Diocesan Services Division totaled $84,540 and $100,434 for the years ended December 31, 2019 and 2018, respectively. The Agency recorded prepaid insurance related to this arrangement of $3,545 and $17,491 as of December 31, 2019 and 2018, respectively. These expenses are included in employee benefits and insurance expenses on the accompanying statement of functional expenses.

Services from CCDRUnder its bylaws, the Agency is required to contract certain services from CCDR. For the years ended December 31, 2019 and 2018, contract and professional services expense included approximately $250,000 and $248,000, respectively, paid to CCDR for administrative, accounting, compliance and human resource services.

Services from the DioceseThe Agency purchases information technology management and support services from the Diocese. For both of the years ended December 31, 2019 and 2018 information technology management and support services expense was approximately $26,000. These expenses are included in contract and professional services expense in the accompanying statement of functional expenses.

Interdivisional Borrowing/Lending ArrangementThe Agency has arrangements with other CCDR divisions: Catholic Charities of Chemung/Schuyler, Catholic Charities of Steuben, and Catholic Charities of Tompkins/Tioga. The divisions borrow from and lend to each other for short-term needs. Interest at prime minus one percent (3.75% at December 31, 2019), is charged on those borrowings. There were no amounts due under these borrowing arrangements at December 31, 2019 and 2018.

10. RETIREMENT PLAN

The Agency participates in a defined contribution pension plan that is administered through CCDR. All employees who work a minimum of 1,000 hours per year are eligible to participate after one year of service and attaining the age of twenty-one. Employees are vested after five years of service. In addition, the Agency has discretion to contribute at least 3% and no more than 6% of an eligible employee’s compensation. The Agency contributed 6% of eligible employees’ compensation for 2019 and 2018. Pension expense for the years ended December 31, 2019 and 2018 was approximately $98,000 and $83,000, respectively. Draf

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11. NATURE, PURPOSE, AND AMOUNT OF RESTRICTIONS ON NET ASSETS

Net assets with donor restrictions were available for the following purposes at December 31:

2019 2018

Net assets with donor restrictions that can be satisfied by action of the Agency or the passage of time: Truck campaign $ 134,888 $ 284,857 Capital campaign - 60,893 Unappropriated endowment appreciation 8,604 6,416

143,492 352,166

Net assets restricted by donor perpetually: Endowment funds 86,808 73,368

$ 230,300 $ 425,534

Net assets with donor restrictions were released from restriction as follows for the years ended December 31:

2019 2018

Truck campaign $ 149,969 $ 62,382Capital campaign 60,893 139,905

$ 210,862 $ 202,287

12. ENDOWMENT FUNDS

The Agency’s endowment includes contributions perpetually restricted by donors as well asaccumulated unappropriated earnings on those amounts. The Agency’s endowment net assetbalance consists of funds with donor imposed restrictions stating that the funds must be held inperpetuity and accumulated unappropriated earnings on these amounts, and are included innet assets with donor restrictions in the accompanying balance sheet.

Changes in endowment net assets were as follows for the years ended December 31:

Other

Partners in Faith

Donor Contributed

Corpus

Accumulated Unappropriated

Earnings TotalEndowment net assets, January 1, 2018 $ 74,628 $ 5,060 $ 5,568 $ 85,256Investment value change (6,320) - 848 (5,472)

Endowment net assets, December 31, 2018 68,308 5,060 6,416 79,784Investment value change 13,440 - 2,188 15,628

Endowment net assets, December 31, 2019 $ 81,748 $ 5,060 $ 8,604 $ 95,412

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12. ENDOWMENT FUNDS (Continued)

Interpretation of Relevant Laws The Agency’s Board of Directors has interpreted the applicable provisions of the New York Prudent Management of Institutional Funds Act (NYPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Agency classifies as endowment net assets (a) the original value of the gifts donated to the endowment, (b) the original value of subsequent gifts to the endowment, and (c) accumulations of investment income of the endowment are added to the fund in accordance with the direction of the donor gift instrument.

Return Objectives and Risk Parameters The Agency has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets related to donor-restricted funds that the Agency must hold in perpetuity. The Agency’s spending policy permits spending from underwater endowments.

Endowment EarningsThe Agency’s policy is to utilize its endowment earnings in accordance with the donor’s intent. Any unspent endowment earnings in any given year become part of the Agency’s net assetswith donor restrictions based on specific donor stipulations. The portion of the Agency’s endowment balances received from the Diocese of Rochester as part of the Partners in Faith initiative have been received with the stipulation that they must be invested in Communis. Due to this stipulation, all earnings or losses on the Partners in Faith endowment balance are recorded as increases or decreases in net assets the Partners in Faith net asset balance. Earnings or losses on other endowment funds are recorded as increases or decreases in net assets with donor restrictions, in the absence of other specific donor stipulations. The Agency can withdraw funds from the Partners in Faith endowment when amounts are appropriated in accordance with the Agency’s endowment management and endowment spending policies.

Spending Policy and How the Investment Objectives Relate to Spending Policy Under the terms of the Agency’s endowment spending policy, annual income to be available for distribution is defined as 5.0% of the endowment fund’s average market value for the previous 20 quarters. In establishing this policy, the Agency considered the long-term expected return on its endowment. This is consistent with the Agency’s objective to preserve principal, while providing a sustainable source of income for the Agency’s programs. In 2019and 2018, no amounts were appropriated for expenditure from endowment funds, and therefore no disbursements were made.

Strategies Employed for Achieving ObjectivesThe Agency’s Partners in Faith endowment assets are required by the donor to be invested in Communis. Therefore, the Agency does not have discretion to employ its own strategy related to investment objectives for Partners in Faith investments. For all other endowment balances, the Agency has elected to invest in Communis. The Agency believes this will create consistent, balanced returns that are consistent with NYPMIFA.

13. BOARD DESIGNATED FUNDS

The Agency’s Board, through voluntary resolution, established and maintains the Board Restricted Property Reserve Fund (the Property Fund). The Property Fund is intended to pay for major repair/maintenance of permanent fixture-type items owned by the Agency. The Agency’s Board adds funds to the Property Fund from time to time. No part of the Property Fund was expended in 2019 or 2018.

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14. CONCENTRATIONS

The Agency received 8% and 12% of its total support and revenue from New York State contracts in both 2019 and 2018, respectively. Accounts and grants receivable related to these services were 21% and 39% of total receivables at December 31, 2019 and 2018, respectively.

15. CONTINGENCIES

Child Victims Act In 2019, New York State signed into law the Child Victims Act (CVA). This legislation changed New York State law related to child abuse claims, including opening a one-year window beginning on August 14, 2019 permitting any victim of child abuse to take civil action, regardless of when the abuse occurred.

As a result of the passage of the CVA, through the date this report was available to be issued, CCDR has been notified or become aware of a number of CVA related claims for alleged inappropriate conduct. Aggregate demands for damages from these claims and lawsuits, or future demands related to potential additional claims and lawsuits to be formally brought during the remainder of the CVA’s claim window, are presently not determinable. During the timeframe of the alleged abuses, CCDR had a combination of commercial insurance coverage and insurance programs administered through the Diocese.

Some of these claims and lawsuits jointly name CCDR with the Diocese and/or other organizations. On September 12, 2019, the Diocese filed a voluntary petition for reorganization under Chapter 11 of the Federal Bankruptcy Code. CCDR is not certain of the impact the Diocesan bankruptcy filing has on CCDR’s potential future liability related to the claims and lawsuits that might be related to periods of time when CCDR participated in Diocesan-administered insurance programs or those claims and lawsuits jointly naming CCDR and the Diocese.

At present, CCDR is not certain as to the amount of commercial insurance coverage available to assist it in meeting its ultimate obligations related to these matters.

No amounts have been recorded for settlement of these matters as the potential financial impact on CCDR is not presently determinable. However, the ultimate resolution of these matters could have a material adverse impact on CCDR’s results of operations and financial position. In addition, it is possible that the ultimate number of actions against CCDR could increase from those presently known.

Third-Party Payors Third-party payors, especially governmental funders, have substantially increased their scrutiny of payments made to their designated service providers. Specific areas for review by the governmental payors and their investigative personnel include appropriate billing practices, reimbursement maximization strategies, technical regulation compliance, etc. The stated purpose for these reviews is to recover reimbursements that the payors believe may have been inappropriate.

The Agency has reviewed its internal records and policies with respect to such matters. However, due to the nature of these matters, it is difficult to estimate the ultimate liability, if any, which they may incur for such matters.

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16. SUBSEQUENT EVENTS

The global pandemic caused by the virus commonly known as COVID-19 is currently disrupting world-wide economic activity. The overall short and long term consequences of COVID-19 on a national, regional and local level are unknown, but there is the potential of a noteworthy negative economic impact. The impact of this situation specific to the Agency and its future results and financial position is not presently determinable.

Subsequent events have been evaluated through May 5, 2020, which is the date the financial statements were available to be issued.

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03/31/2020 12/31/2019

ASSETS

CASH - OPERATING $1,751,735.70 $1,678,451.32

ACCTS. RECEIVABLE $66,303.08 $74,209.14

CAMPAIGN RECEIVABLE $54,719.52 $56,349.78

CONTRACTS / GRANTS RECEIVABLE $859,029.18 $291,788.93

INVESTMENT MANAGEMENT $1,467,025.93 $1,795,888.77

PREPAIDS $44,644.93 $49,048.92

PURCHASE FOOD INVENTORY $306,320.45 $343,810.00

IN-KIND DONATED/TEFAP FOOD $1,521,805.76 $1,508,134.86

PROPERTY, PLANT AND EQUIPMENT $3,316,598.30 $3,409,559.33

TOTAL ASSETS $9,388,182.85 $9,207,241.05

LIABILITIES AND FUND BALANCE

LIABILITIES

ACCOUNTS PAYABLE $263,193.54 $206,023.51

DEFERRED INCOME $8,064.62 $131,856.24

DEFERRED INVENTORY $1,521,805.76 $1,508,134.86

ACCRUED LIABILITY $239,713.16 $245,452.56

TOTAL LIABILITIES $2,032,777.08 $2,091,467.17

FUND BALANCE

UNRESTRICTED FUNDS $6,716,859.14 $6,465,119.52

RESTRICTED-ENDOWMENT FUND $45,520.36 $45,520.36

BUILDING FUND $470,246.00 $470,246.00

TEMP. RESTRICTED TRK CAMPAIGN $122,780.27 $134,888.00

TOTAL FUND BALANCE $7,355,405.77 $7,115,773.88

TOTAL LIABILITIES AND FUND BALANCE $9,388,182.85 $9,207,241.05

BEGINNING BALANCE WITH CURRENT YEAR ADJUSTMENTS $7,115,773.88 $6,941,900.01

NET SURPLUS/(DEFICIT) $239,631.89 $173,873.87

ENDING FUND BALANCE $7,355,405.77 $7,115,773.88

Net Surplus/Deficit is the total of Total Operations and Truck Campaign

Food Bank of the Southern Tier

Balance Sheet

4/30/2020 11:25:05 AM Page 1

Food Bank of the Southern TierCash Flow Forecast

MARCH 20 to SEPTEMBER 20

WEEK ENDING RECEIPTS DISBURSEMENTS NET CHANGE BALANCE

BAL. BROUGHT FORWARD 1,751,735.704/3/2020 320,777.78 D,F 176,963.84 A,B 143,813.94 1,895,549.644/10/2020 299,741.03 C,D,F 49,688.79 B 250,052.24 2,145,601.884/17/2020 391,154.44 D,E,F 315,326.24 A,B 75,828.20 2,221,430.084/24/2020 906,106.94 D,F 11,361.36 894,745.58 3,116,175.664/30/2020 306,222.80 122,138.50 A,B 3,116,175.66MONTHLY TOTAL 2,224,002.99 675,478.73 1,548,524.26 3,300,259.96

WEEK ENDING5/8/2020 86,636.00 D,F 170,000.00 (83,364.00) 3,216,895.965/15/2020 190,091.00 D,F,I 170,000.00 A,H 20,091.00 3,236,986.965/22/2020 86,636.00 D,F 40,000.00 46,636.00 3,283,622.965/29/2020 86,637.00 D,F 170,000.00 A,H (83,363.00) 3,200,259.96

0.00 3,200,259.96MONTHLY TOTAL 450,000.00 550,000.00 (100,000.00) 3,200,259.96

WEEK ENDING6/5/2020 86,636.00 D,F 170,000.00 (83,364.00) 3,116,895.966/12/2020 190,091.00 D,F,I 70,000.00 A,H 120,091.00 3,236,986.966/19/2020 86,636.00 D,F 170,000.00 (83,364.00) 3,153,622.966/26/2020 86,637.00 D,F 40,000.00 A,H 46,637.00 3,200,259.96

0.00 3,200,259.96MONTHLY TOTAL 450,000.00 450,000.00 0.00 3,200,259.96

3 MONTH RECAP 3,124,002.99 1,675,478.73 1,448,524.26 BEGIN BAL ENDING BAL

MONTH OF JULY 54,000.00 K 450,000.00 (396,000.00) 3,200,259.96 (396,000.00)MONTH OF AUGUST 450,000.00 450,000.00 (396,000.00) 2,804,259.96 (396,000.00)MONTH OF SEPTEMBER 450,000.00 450,000.00 0.00 0.00 (396,000.00)

6 MONTH RECAP 4,078,002.99 3,025,478.73 1,052,524.26 1,751,735.70 2,804,259.96 A INCLUDES 2 WEEKS PAYROLL $79,825 & $80,886 & $75,225B INCLUDES FOOD PURCHASES $64,387 & $36,480 & $54,281 & $32,166C INCLUDES TEFAP $15,590.25 & $80,697D A/R PAYMENTSE INCLUDES HPNAP REIMBURSEMENT $148,810F DONATIONS/DIRECT MAIL G INCLUDES NOEP PAYMENT $2,902 & $3,030H FUTURE FOOD PURCHASES I FUTURE HPNAP REIMBURSEMENTS J DIRECT MAIL EXPENSE K TOUR DE KEUKA

PROJECTED CASH FLOW

BALANCEACTUAL CASH

BALANCEJANUARY 1,487,316.99 1,445,658.38FEBRUARY 1,247,160.06 1,263,933.59MARCH 1,130,864.46 1,751,735.70

JANUARY - REVENUE WAS LESS THAN PROJECTED AND EXPENSES WERE ON TARGET

FEBRUARY- REVENUE AND EXPENSES WERE ON TARGET

MARCH - REVENUE WAS MORE THAN ANTICIPATED -DONATIONS FOR COVID 19 WERE NOT ANTICIPATEDEXPENSE WERE LESS FOR THAN PROJECTED

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

REVENUE

FOOD DISTRIBUTION

AGENCIES

SHARED MAINTENANCE

GENERAL $4,806.68 $10,320.71 $9,926.06 $12,140.25 $48,561.00 21 %

HPNAP $8,433.14 $25,962.97 $28,691.37 $32,880.99 $131,524.00 20 %

TOTAL SHARED MAINTENANCE $13,239.82 $36,283.68 $38,617.43 $45,021.24 $180,085.00 20 %

WHOLSALE

GENERAL $78,613.95 $124,138.94 $225,360.60 $172,189.74 $688,759.00 18 %

HPNAP $121,338.75 $237,176.33 $57,867.61 $111,734.25 $446,937.00 53 %

HPNAP PRODUCE $5,281.82 $9,539.90 $0.00 $15,342.75 $61,371.00 16 %

HPNAP COLA PRODUCE $0.00 $0.00 $11,946.94 $5,104.98 $20,420.00 0 %

HANDLING FEES $13,062.52 $31,067.59 $8,441.81 $19,061.49 $76,246.00 41 %

HPNAP COLA HANDLING FEES $5,932.89 $5,932.89 $1,798.81 $765.75 $3,063.00 194 %

TOTAL WHOLESALE $224,229.93 $407,855.65 $305,415.77 $324,198.96 $1,296,796.00 31 %

TEFAP

TEFAP INCOME $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL TEFAP $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCY FOOD $841,742.87 $1,714,127.94 $789,958.17 $542,396.94 $2,169,588.00 79 %

MOBILE FOOD PANTRIES

SHARED MAINTENANCE

GENERAL $2,202.31 $3,082.50 $12,445.20 $24,249.75 $96,999.00 3 %

HPNAP $8,921.30 $34,002.93 $64,785.60 $57,294.99 $229,180.00 15 %


WHOLESALE

HPNAP $6,399.64 $10,481.38 $370.25 $0.00 $0.00 0 %

HPNAP-PRODUCE $728.88 $5,114.15 $14,357.32 $19,130.73 $76,523.00 7 %

HPNAP HANDLING FEES $701.42 $1,774.36 $2.91 $2,153.25 $8,613.00 21 %

HANDLING FEES COLA $0.00 $0.00 $2,180.26 $716.49 $2,866.00 0 %

TOTAL WHOLESALE $7,829.94 $17,369.89 $16,910.74 $22,000.47 $88,002.00 20 %

TEFAP

TEFAP FOOD INCOME $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL TEFAP $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %


Income Statement

Total Operations Including Current Month Actuals

4/30/2020 11:37:47 AM Page 1

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TOTAL MOBILE FOOD PANTRY $283,322.57 $882,252.12 $367,186.37 $222,736.71 $890,947.00 99 %

YOUTH PROGRAMS

BK SHARED MAINTENANCE

GENERAL $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %

Total SHARED MAINTENANCE $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %

TEFAP

TEFAP FOOD INCOME $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %

$5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %

TOTAL YOUTH PROGRAMS $7,310.11 $45,689.56 $6,254.04 $23,710.47 $94,842.00 48 %

TOTAL FOOD DISTRIBUTION $1,132,375.55 $2,642,069.62 $1,163,398.58 $788,844.12 $3,155,377.00 84 %

DONATED PRODUCT

DONATED PRODUCT $383,424.84 $1,125,799.56 $1,435,958.16 $1,343,208.99 $5,372,836.00 21 %

TOTAL DONATED PRODUCT $383,424.84 $1,125,799.56 $1,435,958.16 $1,343,208.99 $5,372,836.00 21 %

CONTRACTS / PROGRAMS

HPNAP GENERAL OPERATING

OPERATIONS SUPPORT $0.00 $15,170.68 $7,983.90 $48,129.24 $192,517.00 8 %

HPNAP SANITATION SUPPLIES $0.00 $0.00 $0.00 $549.99 $2,200.00 0 %

TRANSPORTATION GRANT $3,420.00 $11,842.73 $13,215.00 $5,968.74 $23,875.00 50 %

OPERATING INCOME $44,411.52 $86,423.28 $48,265.11 $57,788.73 $231,155.00 37 %

JSY OPERATING INCOME $12,329.48 $35,965.23 $31,733.57 $31,055.25 $124,221.00 29 %

TOTAL HPNAP OPERATING $60,161.00 $149,401.92 $101,197.58 $143,491.95 $573,968.00 26 %

OTHER CONTRACTS / PROGRAMS

CHEMUNG COUNTY $2,500.00 $7,500.00 $7,500.00 $7,500.00 $30,000.00 25 %

NOEP $5,220.72 $15,549.04 $15,997.86 $16,249.98 $65,000.00 24 %

TEFAP ADMIN $83,814.33 $115,933.24 $84,167.19 $50,304.24 $201,217.00 58 %

VENISON PROGRAM $1,230.00 $7,710.00 $4,632.25 $2,826.75 $11,307.00 68 %

BOCES BACKPACK REIMBURSEMENT $0.00 $0.00 $0.00 $6,249.99 $25,000.00 0 %

TOTAL OTHER CONTRACTS/PGMS $92,765.05 $146,692.28 $112,297.30 $83,130.96 $332,524.00 44 %

TOTAL CONTRACTS / PROGRAMS $152,926.05 $296,094.20 $213,494.88 $226,622.91 $906,492.00 33 %

FUNDRAISING / DONATIONS

CAUSE MARKETING

CAUSE MARKETING $297,532.39 $322,269.72 $77,803.88 $109,712.49 $438,850.00 73 %

TOTAL CAUSE MARKETING $297,532.39 $322,269.72 $77,803.88 $109,712.49 $438,850.00 73 %


Income Statement


4/30/2020 11:37:47 AM Page 2

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

SPECIAL EVENTS

SPECIAL EVENTS $1,000.00 $8,700.00 $28,458.86 $67,324.98 $269,300.00 3 %

TOTAL SPECIAL EVENTS $1,000.00 $8,700.00 $28,458.86 $67,324.98 $269,300.00 3 %

DIRECT MAIL

DIRECT MAIL $100,618.00 $172,280.00 $127,472.94 $229,999.98 $920,000.00 19 %

TOTAL DIRECT MAIL $100,618.00 $172,280.00 $127,472.94 $229,999.98 $920,000.00 19 %

ONLINE GIVING

ONLINE GIVING $37,719.00 $53,591.00 $23,768.55 $61,249.98 $245,000.00 22 %

TOTAL ONLINE GIVING $37,719.00 $53,591.00 $23,768.55 $61,249.98 $245,000.00 22 %

PERSONAL SOLICITATION

PERSONAL SOLICITATION $5,260.00 $17,845.00 $6,450.00 $37,699.98 $150,800.00 12 %

TOTAL PERSONAL SOLICITATION $5,260.00 $17,845.00 $6,450.00 $37,699.98 $150,800.00 12 %

GENERAL DEVELOPMENT GRANTS

OTHER $38,370.00 $186,370.00 $23,449.56 $66,499.98 $266,000.00 70 %

MOBILE FOOD $5,334.00 $8,001.00 $7,899.00 $0.00 $0.00 0 %

CHILD HUNGER $0.00 $5,832.02 $0.00 $0.00 $0.00 0 %

TOTAL GEN DEV GRANTS $43,704.00 $200,203.02 $31,348.56 $66,499.98 $266,000.00 75 %

WHITE MAIL

'WHITE MAIL $123,971.44 $181,335.75 $58,257.28 $150,000.00 $600,000.00 30 %

TOTAL WHITE MAIL $123,971.44 $181,335.75 $58,257.28 $150,000.00 $600,000.00 30 %

ALL OTHER PRIVATE SUPPORT

ALL OTHER PRIVATE SUPPORT $8,530.64 $58,149.42 $53,984.19 $42,499.98 $170,000.00 34 %

TOTAL ALL OTHER PRIVATE SUPPORT $8,530.64 $58,149.42 $53,984.19 $42,499.98 $170,000.00 34 %

TOTAL FR/DONATIONS $618,335.47 $1,014,373.91 $407,544.26 $764,987.37 $3,059,950.00 33 %

OTHER INCOME

OTHER INCOME

INTEREST INCOME $1,665.46 $5,389.94 $9,126.81 $6,049.98 $24,200.00 22 %

ANNUAL MEMBERSHIP $175.00 $175.00 $3,885.00 $1,181.25 $4,725.00 4 %

AGENCY CONFERENCE $0.00 $0.00 $440.00 $624.99 $2,500.00 0 %

RENT $2,450.00 $7,350.00 $1,400.00 $0.00 $0.00 0 %

INSURANCE CLAIM INCOME $0.00 $2,809.73 $0.00 $0.00 $0.00 0 %

CONFERENCE REIMBURSEMENT $0.00 $0.00 $977.03 $0.00 $0.00 0 %

MISCELLANEOUS $1,362.34 $6,997.79 $5,922.01 $4,555.47 $18,222.00 38 %

TOTAL OTHER INCOME $5,652.80 $22,722.46 $21,750.85 $12,411.69 $49,647.00 46 %


Income Statement


4/30/2020 11:37:47 AM Page 3

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION


TOTAL REVENUE $2,292,714.71 $5,101,059.75 $3,242,146.73 $3,136,075.08 $12,544,302.00 41 %

EXPENSES

PERSONNEL EXPENSES

SALARIES $178,010.42 $531,202.21 $466,041.76 $537,083.13 $2,148,333.00 25 %

FRINGE BENEFITS $44,032.94 $137,272.14 $140,571.64 $134,216.58 $536,867.00 26 %

CONTRACT EMPLOYMENT $11,337.08 $27,712.95 $19,688.57 $1,875.00 $7,500.00 370 %

PAYROLL PROCESSING $385.82 $2,079.86 $1,388.04 $1,024.98 $4,100.00 51 %

RECRUITMENT-ADVERTISING $0.00 $0.00 $0.00 $99.99 $400.00 0 %

PERSONNEL EXPENSES $0.00 $24.00 $829.00 $437.49 $1,750.00 1 %

TOTAL PERSONNEL EXPENSES $233,766.26 $698,291.16 $628,519.01 $674,737.17 $2,698,950.00 26 %

FOOD EXPENSE

AGENCIES

WHOLESALE FOOD

GENERAL $69,083.12 $109,589.06 $196,243.15 $149,730.24 $598,921.00 18 %

GENERAL $0.00 $0.00 $0.00 $0.00 $0.00 0 %

HPNAP $121,338.75 $237,176.33 $57,867.61 $111,734.25 $446,937.00 53 %

HPNAP PRODUCE $5,281.82 $9,539.90 $0.00 $15,342.75 $61,371.00 16 %


TOTAL AGENCIES WHSALE FOOD $195,703.69 $356,305.29 $266,057.70 $281,912.22 $1,127,649.00 32 %

TEFAP

TEFAP FOOD EXPENSE $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCIES TEFAP $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCIES $799,976.81 $1,626,293.90 $711,982.67 $455,088.96 $1,820,356.00 89 %


MFP SHARED MAINTENANCE

GENERAL $2,202.31 $3,082.50 $12,445.20 $24,249.75 $96,999.00 3 %


WHOLESALE FOOD

GENERAL $0.00 $0.00 $7,248.74 $6,730.74 $26,923.00 0 %

HPNAP $6,399.64 $10,481.38 $370.25 $0.00 $0.00 0 %

HPNAP PRODUCE $728.88 $5,114.15 $14,357.32 $19,130.73 $76,523.00 7 %

TOTAL MFP WHOLESALE FOOD $7,128.52 $15,595.53 $21,976.31 $25,861.47 $103,446.00 15 %


Income Statement


4/30/2020 11:37:47 AM Page 4

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TEFAP

TEFAP FOOD EXPENSE $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL MFP TEFAP $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL MOBILE FOOD PANTRIES $273,699.85 $846,474.83 $307,466.34 $169,302.72 $677,211.00 125 %

YOUTH PROGRAMS

SHARED MAINTENANCE

BK GENERAL $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %


WHOLESALE FOOD

BK GENERAL $11,953.35 $29,411.60 $70,768.71 $37,495.74 $149,983.00 20 %

KFM GENERAL PRODUCE $0.00 $0.00 $1,006.94 $999.99 $4,000.00 0 %

SCHOOL PANTRY $0.00 $2,913.84 $2,727.11 $3,249.99 $13,000.00 22 %

BOCES SUMMER PROGRAM $0.00 $0.00 $0.00 $5,434.74 $21,739.00 0 %

TOTAL BKPK WHOLESALE FOOD $11,953.35 $32,325.44 $74,502.76 $47,180.46 $188,722.00 17 %

TEFAP

TEFAP FOOD EXPENSE $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %

Total TEFAP $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %


TOTAL FOOD EXPENSE $1,092,940.12 $2,550,783.73 $1,100,205.81 $695,282.61 $2,781,131.00 92 %

OTHER FOOD EXPENSES

OTHER FOOD/PROGRAM

TURKEY DRIVE $0.00 $0.00 $0.00 $18,062.49 $72,250.00 0 %

INTERAFFILIATE $2,390.76 $2,390.76 $3,672.25 $4,599.24 $18,397.00 13 %

HEALTHY HARVEST $538.98 $1,413.50 $607.90 $7,562.49 $30,250.00 5 %

EMERGENCY FOOD BOX $0.00 $204.59 $386.95 $499.98 $2,000.00 10 %

VENISON PROCESSING $1,230.00 $7,710.00 $4,632.25 $2,826.75 $11,307.00 68 %

NYS SUMMER FOOD PROGRAM $0.00 $0.00 $0.00 $249.99 $1,000.00 0 %

INVENTORY ADJUSTMENT $558.32 $1,515.62 ($249.55) $249.99 $1,000.00 152 %

PRODUCT PACKAGING $0.00 $0.00 ($946.56) ($1,276.50) ($5,106.00) 0 %

AGENCY LINE OF CREDIT $69.10 $326.57 $34.01 $124.98 $500.00 65 %

TOTAL OTHER FOOD/PROGRAM $4,787.16 $13,561.04 $8,137.25 $32,899.41 $131,598.00 10 %

PRODUCT ACQUISITION FREIGHT

PRODUCT FREIGHT $1,100.00 $4,500.00 $5,085.00 $21,785.73 $87,143.00 5 %


TOTAL PRODUCT FREIGHT $4,520.00 $16,342.73 $18,300.00 $27,754.47 $111,018.00 15 %


Income Statement


4/30/2020 11:37:47 AM Page 5

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TOTAL OTHER FOOD EXPENSES $9,307.16 $29,903.77 $26,437.25 $60,653.88 $242,616.00 12 %

DONATED PRODUCT

DONATED PRODUCT $383,424.84 $1,125,799.56 $1,435,958.16 $1,343,208.99 $5,372,836.00 21 %


WAREHOUSE / DISTRIBUTION

VEHICLE

VEHICLE - FUEL $5,211.54 $13,517.22 $12,247.06 $12,997.95 $51,992.00 26 %

VEHICLE MAINTENANCE $2,105.32 $10,473.61 $1,923.13 $5,625.00 $22,500.00 47 %

VEHICLE - INSURANCE $1,655.16 $4,965.48 $4,579.74 $4,965.48 $19,862.00 25 %

OTHER VEHICLE EXPENSE $0.00 $552.90 $3,298.07 $1,583.25 $6,333.00 9 %

TOTAL VEHICLE $8,972.02 $29,509.21 $22,048.00 $25,171.68 $100,687.00 29 %

WAREHOUSE

EQUIPMENT MAINTENANCE $966.62 $7,431.30 $4,035.52 $4,125.00 $16,500.00 45 %

GENERAL SUPPLIES $201.91 $1,053.20 $685.92 $2,749.98 $11,000.00 10 %

MFP SUPPLIES $62.00 $1,236.32 $0.00 $874.98 $3,500.00 35 %

MISCELLANEOUS $0.00 $65.00 $408.00 $499.98 $2,000.00 3 %

TOTAL WAREHOUSE $1,230.53 $9,785.82 $5,129.44 $8,249.94 $33,000.00 30 %

PRODUCTION ROOM

REPACKING SUPPLIES $257.47 $1,421.72 $3,400.14 $2,374.98 $9,500.00 15 %

SANITATION SUPPLIES $300.14 $551.40 $381.55 $624.99 $2,500.00 22 %

TOTAL PRODUCTION ROOM $557.61 $1,973.12 $3,781.69 $2,999.97 $12,000.00 16 %

TOTAL WHRS / DISTRIB $10,760.16 $41,268.15 $30,959.13 $36,421.59 $145,687.00 28 %

GENERAL OPERATIONS

BUILDING

INSURANCE $3,736.51 $11,209.53 $10,819.68 $11,496.48 $45,986.00 24 %

UTILITIES $7,810.00 $24,341.35 $21,706.00 $18,312.48 $73,250.00 33 %

PHYSICAL PLANT MAINT/REPAIRS $232.60 $1,816.24 $1,670.42 $1,999.98 $8,000.00 23 %

PHYSICAL GROUNDS MAINTENANCE $0.00 $0.00 $0.00 $212.46 $850.00 0 %

EXTERMINATOR $350.50 $1,051.50 $1,294.80 $1,249.98 $5,000.00 21 %

JANITORIAL $1,812.87 $5,274.21 $6,293.33 $5,949.99 $23,800.00 22 %

RUBBISH & TRASH REMOVAL $639.50 $1,883.00 $2,055.00 $1,749.99 $7,000.00 27 %

OTHER OCCUPANCY EXPENSE $0.00 $1,543.56 $1,541.69 $399.99 $1,600.00 96 %

TOTAL BUILDING $14,581.98 $47,119.39 $45,380.92 $41,371.35 $165,486.00 28 %

GENERAL OFFICE


Income Statement


4/30/2020 11:37:47 AM Page 6

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

OFFICE SUPPLIES $401.05 $5,836.91 $3,948.99 $6,162.93 $24,653.00 24 %

PROGRAM & EDUCATIONAL $0.00 $1,233.87 $3,236.77 $2,356.20 $9,425.00 13 %

POSTAGE & MAILING $685.45 $2,034.45 $2,008.15 $3,374.94 $13,500.00 15 %

OFFICE EQUIPMENT / FURNITURE $0.00 $0.00 $420.49 $0.00 $0.00 0 %

COMPUTER EQUIPMENT $101.97 $8,512.98 $4,057.44 $2,612.46 $10,450.00 81 %

FOOD SUPPLIES $15.29 $121.27 $194.40 $199.98 $800.00 15 %

BANK CHGS / SCVS FEES $2,376.21 $5,827.15 $4,424.45 $6,099.00 $24,396.00 24 %

MISCELLANEOUS $62.09 $58.72 $233.94 $262.44 $1,050.00 6 %

TOTAL GENERAL OFFICE $3,642.06 $23,625.35 $18,524.63 $21,067.95 $84,274.00 28 %

TECHNOLOGY/SERVICES

INTERNET SERV/COMM $124.95 $374.85 $375.14 $658.98 $2,636.00 14 %

EQUIPMENT LEASE & REPAIR $457.88 $1,373.64 $1,707.11 $1,566.24 $6,265.00 22 %

MEMBERSHIP FEES/DUES $0.00 $2,145.00 $2,350.00 $5,684.97 $22,740.00 9 %

LICENSEING FEES $2,683.09 $15,643.82 $15,008.51 $15,484.20 $61,937.00 25 %

TELEPHONE $637.01 $1,902.78 $1,968.65 $1,901.46 $7,606.00 25 %

TOTAL TECHNOLOGY/SERVICES $3,902.93 $21,440.09 $21,409.41 $25,295.85 $101,184.00 21 %

STAFF EXPENSES

CONFERENCES ($799.99) $2,819.92 $14,118.00 $5,924.94 $23,700.00 12 %

STAFF DEVELOPMENT $5,798.00 $6,022.00 $2,920.47 $2,709.93 $10,840.00 56 %

MILEAGE $251.55 $2,999.17 $3,967.03 $4,488.12 $17,953.00 17 %

HOST FOOD & BEVERAGE $353.52 $957.99 $486.12 $1,362.45 $5,450.00 18 %

SUBCRIPTIONS & PUBLICATIONS $247.99 $647.85 $0.00 $0.00 $0.00 0 %

Total STAFF EXPENSES $5,851.07 $13,446.93 $21,491.62 $14,485.44 $57,943.00 23 %

CONTRACT SERVICES

ACCOUNTING $15,416.66 $46,250.06 $47,500.02 $46,249.98 $185,000.00 25 %

HUMAN RESOURCES $2,949.33 $8,848.03 $8,873.01 $8,847.99 $35,392.00 25 %

TECHNOLOGY $2,313.25 $6,939.75 $6,609.27 $6,939.75 $27,759.00 25 %

COMPLIANCE $2,188.00 $6,564.00 $6,096.51 $6,564.00 $26,256.00 25 %

HRIS $0.00 $0.00 $0.00 $437.25 $1,749.00 0 %

LEGAL $0.00 $178.50 $2,163.00 $0.00 $0.00 0 %

AUDIT $0.00 $0.00 $0.00 $2,749.98 $11,000.00 0 %

OTHER $2,175.67 $7,392.22 $11,381.64 $7,834.23 $31,337.00 24 %

TOTAL CONTRACT SERVICES $25,042.91 $76,172.56 $82,623.45 $79,623.18 $318,493.00 24 %

TOTAL GENERAL OPERATIONS $53,020.95 $181,804.32 $189,430.03 $181,843.77 $727,380.00 25 %

DEVELOPMENT/PR

SPECIAL EVENTS

CANSTRUCTION $0.00 $0.00 $2,729.15 $137.49 $550.00 0 %


Income Statement


4/30/2020 11:37:47 AM Page 7

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

EMPTY BOWLS $0.00 $0.00 $0.00 $375.00 $1,500.00 0 %

OTHER MISC. EVENT EXPENSE $240.82 $618.65 $2,423.44 $12,249.93 $49,000.00 1 %

TOTAL SPECIAL EVENTS $240.82 $618.65 $5,152.59 $12,762.42 $51,050.00 1 %

DIRECT MAIL

DIRECT MAIL $24,664.96 $44,099.88 $36,507.38 $68,499.99 $274,000.00 16 %

DIGITAL SERVICES $2,000.00 $2,000.00 $4,850.00 $4,999.98 $20,000.00 10 %


GEN. DEVELOPMENT / PR EXPENSE

PUBLIC RELATIONS $983.00 $1,484.09 $8,012.22 $537.45 $2,150.00 69 %

ADVERTISING/PROMOTIONS $0.00 $2,290.90 $1,603.69 $10,261.47 $41,046.00 6 %

VOLUNTEER RECGONITION $697.74 $708.66 $1,770.11 $1,674.99 $6,700.00 11 %

ANNUAL REPORT $0.00 $0.00 $0.00 $249.99 $1,000.00 0 %

ANNUAL MEETING $0.00 $0.00 $0.00 $1,500.00 $6,000.00 0 %

CIRCLE TO FEED HOPE $1,800.23 $1,800.23 $721.56 $3,750.00 $15,000.00 12 %

TURKEY DRIVE $0.00 $0.00 $0.00 $1,924.98 $7,700.00 0 %

TOTAL GEN. DEV. / PR EXPENSE $3,480.97 $6,283.88 $12,107.58 $19,898.88 $79,596.00 8 %

TOTAL DEVELOPMENT/PR $30,386.75 $53,002.41 $58,617.55 $106,161.27 $424,646.00 12 %

ADVOCACY & EDUCATION

ADVOCACY GROUP/SPEAKERS $0.00 $263.13 $1,248.67 $1,875.00 $7,500.00 4 %

TOTAL ADVOCACY & EDUCATION $0.00 $263.13 $1,248.67 $1,875.00 $7,500.00 4 %

HPNAP OPERATION SUPPORT/SANI SUPP

OPERATION SUPPORT $0.00 $15,170.68 $7,983.90 $48,129.24 $192,517.00 8 %


TOTAL HPNAP OPERATION SUP. $0.00 $15,170.68 $7,983.90 $48,679.23 $194,717.00 8 %

TOTAL EXPENSES $1,813,606.24 $4,696,286.91 $3,479,359.51 $3,148,863.51 $12,595,463.00 37 %

NET BEFORE CAP CAMP ALLOC $479,108.47 $404,772.84 ($237,212.78) ($12,788.43) ($51,161.00) (791)%

CAPITAL CAMPAIGN ALLOCATIONS

BACKPACK PROGRAM $0.00 $0.00 $8,605.50 $0.00 $0.00 0 %

PERSONNEL $4,035.91 $12,107.73 $18,955.01 $12,107.73 $48,431.00 25 %

CAPITAL CAMPAIGN ALLOCATIONS $4,035.91 $12,107.73 $27,560.51 $12,107.73 $48,431.00 25 %

CAPITAL EXPENSES

CAPITAL IMPROVEMENTS $0.00 $0.00 ($21,401.31) $0.00 $0.00 0 %


Income Statement


4/30/2020 11:37:47 AM Page 8

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

Total CAPITAL EXP. $0.00 $0.00 $21,401.31 $0.00 $0.00 0 %

NET BEFORE NON-OPERATING $483,144.38 $416,880.57 ($231,053.58) ($680.70) ($2,730.00) (15,270)%

NON-OPERATING ADJUST.

DEPRECIATION/AMORTIZATION ($30,986.93) ($92,961.03) ($76,308.23) $0.00 $0.00 0 %

CAPITAL IMPROVEMENTS $0.00 $0.00 $18,850.00 $0.00 $0.00 0 %

INVESTMENT GAIN/LOSS ($204,423.84) ($328,862.84) $140,867.59 $0.00 $0.00 0 %

RELEASE FROM TEMP RESTRICT ($4,035.91) ($12,107.73) ($27,560.51) $0.00 $0.00 0 %

TOTAL NON-OPER ADJUST ($239,446.68) ($433,931.60) $55,848.85 $0.00 $0.00 0 %

NET SURPLUS/(DEFICIT) $243,697.70 ($17,051.03) ($175,204.73) ($680.70) ($2,730.00) 625 %


Income Statement


4/30/2020 11:37:47 AM Page 9

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

REVENUE

FOOD DISTRIBUTION

DISASTER RELIEF

DR-SHARED MAINTENANCE

HPNAP $7,103.58 $7,103.58 $0.00 $0.00 $0.00 0 %

TOTAL SHARED MAINTENANCE $7,103.58 $7,103.58 $0.00 $0.00 $0.00 0 %

WHOLESALE

HPNAP PRODUCE $186.99 $186.99 $0.00 $0.00 $0.00 0 %

HPNAP HANDLING FEES $27.81 $27.81 $0.00 $0.00 $0.00 0 %

Total WHOLESALE FOOD $214.80 $214.80 $0.00 $0.00 $0.00 0 %

TEFAP

TEFAP FOOD INCOME $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

$76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

TOTAL DISASTER RELIEF $83,986.67 $83,986.67 $0.00 $0.00 $0.00 0 %

TOTAL FOOD DISTRIBUTION $83,986.67 $83,986.67 $0.00 $0.00 $0.00 0 %



TEFAP ADMIN $147,755.56 $147,755.56 $0.00 $0.00 $0.00 0 %

TOTAL OTHER CONTRACTS/PGMS $147,755.56 $147,755.56 $0.00 $0.00 $0.00 0 %

TOTAL CONTRACTS / PROGRAMS $147,755.56 $147,755.56 $0.00 $0.00 $0.00 0 %


DIRECT MAIL

DIRECT MAIL $325.00 $325.00 $0.00 $0.00 $0.00 0 %

TOTAL DIRECT MAIL $325.00 $325.00 $0.00 $0.00 $0.00 0 %

ONLINE GIVING

ONLINE GIVING $79,924.00 $79,924.00 $0.00 $0.00 $0.00 0 %

TOTAL ONLINE GIVING $79,924.00 $79,924.00 $0.00 $0.00 $0.00 0 %


OTHER $52,500.00 $52,500.00 $0.00 $0.00 $0.00 0 %

TOTAL GEN DEV GRANTS $52,500.00 $52,500.00 $0.00 $0.00 $0.00 0 %


Income Statement


4/30/2020 11:40:45 AM Page 1

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

WHITE MAIL

'WHITE MAIL $13,960.00 $13,960.00 $0.00 $0.00 $0.00 0 %

TOTAL WHITE MAIL $13,960.00 $13,960.00 $0.00 $0.00 $0.00 0 %

TOTAL FR/DONATIONS $146,709.00 $146,709.00 $0.00 $0.00 $0.00 0 %

TOTAL REVENUE $378,451.23 $378,451.23 $0.00 $0.00 $0.00 0 %

EXPENSES

PERSONNEL EXPENSES

SALARIES $2,167.98 $2,167.98 $0.00 $0.00 $0.00 0 %

FRINGE BENEFITS $159.59 $159.59 $0.00 $0.00 $0.00 0 %

CONTRACT EMPLOYMENT $211.00 $211.00 $0.00 $0.00 $0.00 0 %

TOTAL PERSONNEL EXPENSES $2,538.57 $2,538.57 $0.00 $0.00 $0.00 0 %

FOOD EXPENSE

DISASTER RELIEF

WHOLESALE

HPNAP PRODUCE $186.99 $186.99 $0.00 $0.00 $0.00 0 %

TOTAL WHOLESALE $186.99 $186.99 $0.00 $0.00 $0.00 0 %

TEFAP

TEFAP FOOD EXPENSE $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

TOTAL TEFAP $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

Total DISASTER RELIEF $76,855.28 $76,855.28 $0.00 $0.00 $0.00 0 %

TOTAL FOOD EXPENSE $76,855.28 $76,855.28 $0.00 $0.00 $0.00 0 %

OTHER FOOD EXPENSES

OTHER FOOD/PROGRAM

DISASTER RELIEF $37,033.77 $37,033.77 $0.00 $0.00 $0.00 0 %

TOTAL OTHER FOOD/PROGRAM $37,033.77 $37,033.77 $0.00 $0.00 $0.00 0 %


PRODUCT FREIGHT $2,114.67 $2,114.67 $0.00 $0.00 $0.00 0 %

TOTAL PRODUCT FREIGHT $2,114.67 $2,114.67 $0.00 $0.00 $0.00 0 %

TOTAL OTHER FOOD EXPENSES $39,148.44 $39,148.44 $0.00 $0.00 $0.00 0 %



Income Statement


4/30/2020 11:40:45 AM Page 2

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

VEHICLE

VEHICLE - FUEL $100.00 $100.00 $0.00 $0.00 $0.00 0 %

TOTAL VEHICLE $100.00 $100.00 $0.00 $0.00 $0.00 0 %

WAREHOUSE

GENERAL SUPPLIES $71.71 $71.71 $0.00 $0.00 $0.00 0 %

TOTAL WAREHOUSE $71.71 $71.71 $0.00 $0.00 $0.00 0 %

PRODUCTION ROOM

REPACKING SUPPLIES $749.47 $749.47 $0.00 $0.00 $0.00 0 %

SANITATION SUPPLIES $370.05 $370.05 $0.00 $0.00 $0.00 0 %

TOTAL PRODUCTION ROOM $1,119.52 $1,119.52 $0.00 $0.00 $0.00 0 %

TOTAL WHRS / DISTRIB $1,291.23 $1,291.23 $0.00 $0.00 $0.00 0 %

GENERAL OPERATIONS

GENERAL OFFICE

OFFICE SUPPLIES $513.95 $513.95 $0.00 $0.00 $0.00 0 %

MISCELLANEOUS $150.00 $150.00 $0.00 $0.00 $0.00 0 %

TOTAL GENERAL OFFICE $663.95 $663.95 $0.00 $0.00 $0.00 0 %

TECHNOLOGY/SERVICES

LICENSEING FEES $26.00 $26.00 $0.00 $0.00 $0.00 0 %

TELEPHONE $75.36 $75.36 $0.00 $0.00 $0.00 0 %

TOTAL TECHNOLOGY/SERVICES $101.36 $101.36 $0.00 $0.00 $0.00 0 %

STAFF EXPENSES

MILEAGE $185.64 $185.64 $0.00 $0.00 $0.00 0 %

HOST FOOD & BEVERAGE $983.84 $983.84 $0.00 $0.00 $0.00 0 %

Total STAFF EXPENSES $1,169.48 $1,169.48 $0.00 $0.00 $0.00 0 %

TOTAL GENERAL OPERATIONS $1,934.79 $1,934.79 $0.00 $0.00 $0.00 0 %

TOTAL EXPENSES $121,768.31 $121,768.31 $0.00 $0.00 $0.00 0 %

NET BEFORE CAP CAMP ALLOC $256,682.92 $256,682.92 $0.00 $0.00 $0.00 0 %

NET BEFORE NON-OPERATING $256,682.92 $256,682.92 $0.00 $0.00 $0.00 0 %

NET SURPLUS/(DEFICIT) $256,682.92 $256,682.92 $0.00 $0.00 $0.00 0 %


Income Statement


4/30/2020 11:40:45 AM Page 3

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION


Income Statement


4/30/2020 11:40:45 AM Page 4

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

REVENUE

FOOD DISTRIBUTION

AGENCIES

SHARED MAINTENANCE

GENERAL $4,806.68 $10,320.71 $9,926.06 $12,140.25 $48,561.00 21 %

HPNAP $8,433.14 $25,962.97 $28,691.37 $32,880.99 $131,524.00 20 %


WHOLSALE

GENERAL $78,613.95 $124,138.94 $225,360.60 $172,189.74 $688,759.00 18 %

HPNAP $121,338.75 $237,176.33 $57,867.61 $111,734.25 $446,937.00 53 %

HPNAP PRODUCE $5,281.82 $9,539.90 $0.00 $15,342.75 $61,371.00 16 %


HANDLING FEES $13,062.52 $31,067.59 $8,441.81 $19,061.49 $76,246.00 41 %

HPNAP COLA HANDLING FEES $5,932.89 $5,932.89 $1,798.81 $765.75 $3,063.00 194 %

TOTAL WHOLESALE $224,229.93 $407,855.65 $305,415.77 $324,198.96 $1,296,796.00 31 %

TEFAP

TEFAP INCOME $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL TEFAP $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCY FOOD $841,742.87 $1,714,127.94 $789,958.17 $542,396.94 $2,169,588.00 79 %


SHARED MAINTENANCE

GENERAL $2,202.31 $3,082.50 $12,445.20 $24,249.75 $96,999.00 3 %

HPNAP $8,921.30 $34,002.93 $64,785.60 $57,294.99 $229,180.00 15 %


WHOLESALE

HPNAP $6,399.64 $10,481.38 $370.25 $0.00 $0.00 0 %

HPNAP-PRODUCE $728.88 $5,114.15 $14,357.32 $19,130.73 $76,523.00 7 %

HPNAP HANDLING FEES $701.42 $1,774.36 $2.91 $2,153.25 $8,613.00 21 %

HANDLING FEES COLA $0.00 $0.00 $2,180.26 $716.49 $2,866.00 0 %

TOTAL WHOLESALE $7,829.94 $17,369.89 $16,910.74 $22,000.47 $88,002.00 20 %

TEFAP

TEFAP FOOD INCOME $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL TEFAP $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %


Income Statement


4/30/2020 11:27:05 AM Page 1

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TOTAL MOBILE FOOD PANTRY $283,322.57 $882,252.12 $367,186.37 $222,736.71 $890,947.00 99 %

YOUTH PROGRAMS

BK SHARED MAINTENANCE

GENERAL $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %

Total SHARED MAINTENANCE $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %

TEFAP

TEFAP FOOD INCOME $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %

$5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %


DISASTER RELIEF

DR-SHARED MAINTENANCE

HPNAP $7,103.58 $7,103.58 $0.00 $0.00 $0.00 0 %

TOTAL SHARED MAINTENANCE $7,103.58 $7,103.58 $0.00 $0.00 $0.00 0 %

WHOLESALE

HPNAP PRODUCE $186.99 $186.99 $0.00 $0.00 $0.00 0 %

HPNAP HANDLING FEES $27.81 $27.81 $0.00 $0.00 $0.00 0 %

Total WHOLESALE FOOD $214.80 $214.80 $0.00 $0.00 $0.00 0 %

TEFAP

TEFAP FOOD INCOME $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

$76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

TOTAL DISASTER RELIEF $83,986.67 $83,986.67 $0.00 $0.00 $0.00 0 %

TOTAL FOOD DISTRIBUTION $1,216,362.22 $2,726,056.29 $1,163,398.58 $788,844.12 $3,155,377.00 86 %

DONATED PRODUCT

DONATED PRODUCT $383,424.84 $1,125,799.56 $1,435,958.16 $1,343,208.99 $5,372,836.00 21 %



HPNAP GENERAL OPERATING

OPERATIONS SUPPORT $0.00 $15,170.68 $7,983.90 $48,129.24 $192,517.00 8 %

HPNAP SANITATION SUPPLIES $0.00 $0.00 $0.00 $549.99 $2,200.00 0 %


OPERATING INCOME $44,411.52 $86,423.28 $48,265.11 $57,788.73 $231,155.00 37 %

JSY OPERATING INCOME $12,329.48 $35,965.23 $31,733.57 $31,055.25 $124,221.00 29 %

TOTAL HPNAP OPERATING $60,161.00 $149,401.92 $101,197.58 $143,491.95 $573,968.00 26 %


Income Statement


4/30/2020 11:27:05 AM Page 2

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION


CHEMUNG COUNTY $2,500.00 $7,500.00 $7,500.00 $7,500.00 $30,000.00 25 %

NOEP $5,220.72 $15,549.04 $15,997.86 $16,249.98 $65,000.00 24 %

TEFAP ADMIN $231,569.89 $263,688.80 $84,167.19 $50,304.24 $201,217.00 131 %

VENISON PROGRAM $1,230.00 $7,710.00 $4,632.25 $2,826.75 $11,307.00 68 %

BOCES BACKPACK REIMBURSEMENT $0.00 $0.00 $0.00 $6,249.99 $25,000.00 0 %

TOTAL OTHER CONTRACTS/PGMS$240,520.61 $294,447.84 $112,297.30 $83,130.96 $332,524.00 89 %

TOTAL CONTRACTS / PROGRAMS $300,681.61 $443,849.76 $213,494.88 $226,622.91 $906,492.00 49 %


CAUSE MARKETING

CAUSE MARKETING $297,532.39 $322,269.72 $77,803.88 $109,712.49 $438,850.00 73 %

TOTAL CAUSE MARKETING $297,532.39 $322,269.72 $77,803.88 $109,712.49 $438,850.00 73 %

SPECIAL EVENTS

SPECIAL EVENTS $1,000.00 $8,700.00 $28,458.86 $67,324.98 $269,300.00 3 %

TOTAL SPECIAL EVENTS $1,000.00 $8,700.00 $28,458.86 $67,324.98 $269,300.00 3 %

DIRECT MAIL

DIRECT MAIL $100,943.00 $172,605.00 $127,472.94 $229,999.98 $920,000.00 19 %


ONLINE GIVING

ONLINE GIVING $117,643.00 $133,515.00 $23,768.55 $61,249.98 $245,000.00 54 %

TOTAL ONLINE GIVING $117,643.00 $133,515.00 $23,768.55 $61,249.98 $245,000.00 54 %

PERSONAL SOLICITATION

PERSONAL SOLICITATION $5,260.00 $17,845.00 $6,450.00 $37,699.98 $150,800.00 12 %

TOTAL PERSONAL SOLICITATION $5,260.00 $17,845.00 $6,450.00 $37,699.98 $150,800.00 12 %


OTHER $90,870.00 $238,870.00 $23,449.56 $66,499.98 $266,000.00 90 %

MOBILE FOOD $5,334.00 $8,001.00 $7,899.00 $0.00 $0.00 0 %

CHILD HUNGER $0.00 $5,832.02 $0.00 $0.00 $0.00 0 %

TOTAL GEN DEV GRANTS $96,204.00 $252,703.02 $31,348.56 $66,499.98 $266,000.00 95 %

WHITE MAIL

'WHITE MAIL $137,931.44 $195,295.75 $58,257.28 $150,000.00 $600,000.00 33 %

TOTAL WHITE MAIL $137,931.44 $195,295.75 $58,257.28 $150,000.00 $600,000.00 33 %


Income Statement


4/30/2020 11:27:05 AM Page 3

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

ALL OTHER PRIVATE SUPPORT

ALL OTHER PRIVATE SUPPORT $8,530.64 $58,149.42 $53,984.19 $42,499.98 $170,000.00 34 %

TOTAL ALL OTHER PRIVATE SUPPORT $8,530.64 $58,149.42 $53,984.19 $42,499.98 $170,000.00 34 %

TOTAL FR/DONATIONS $765,044.47 $1,161,082.91 $407,544.26 $764,987.37 $3,059,950.00 38 %

OTHER INCOME

OTHER INCOME

INTEREST INCOME $1,665.46 $5,389.94 $9,126.81 $6,049.98 $24,200.00 22 %

ANNUAL MEMBERSHIP $175.00 $175.00 $3,885.00 $1,181.25 $4,725.00 4 %

AGENCY CONFERENCE $0.00 $0.00 $440.00 $624.99 $2,500.00 0 %

RENT $2,450.00 $7,350.00 $1,400.00 $0.00 $0.00 0 %

INSURANCE CLAIM INCOME $0.00 $2,809.73 $0.00 $0.00 $0.00 0 %

CONFERENCE REIMBURSEMENT $0.00 $0.00 $977.03 $0.00 $0.00 0 %

MISCELLANEOUS $1,362.34 $6,997.79 $5,922.01 $4,555.47 $18,222.00 38 %



TOTAL REVENUE $2,671,165.94 $5,479,510.98 $3,242,146.73 $3,136,075.08 $12,544,302.00 44 %

EXPENSES

PERSONNEL EXPENSES

SALARIES $180,178.40 $533,370.19 $466,041.76 $537,083.13 $2,148,333.00 25 %

FRINGE BENEFITS $44,192.53 $137,431.73 $140,571.64 $134,216.58 $536,867.00 26 %

CONTRACT EMPLOYMENT $11,548.08 $27,923.95 $19,688.57 $1,875.00 $7,500.00 372 %

PAYROLL PROCESSING $385.82 $2,079.86 $1,388.04 $1,024.98 $4,100.00 51 %

RECRUITMENT-ADVERTISING $0.00 $0.00 $0.00 $99.99 $400.00 0 %

PERSONNEL EXPENSES $0.00 $24.00 $829.00 $437.49 $1,750.00 1 %

TOTAL PERSONNEL EXPENSES $236,304.83 $700,829.73 $628,519.01 $674,737.17 $2,698,950.00 26 %

FOOD EXPENSE

AGENCIES

WHOLESALE FOOD

GENERAL $69,083.12 $109,589.06 $196,243.15 $149,730.24 $598,921.00 18 %

GENERAL $0.00 $0.00 $0.00 $0.00 $0.00 0 %

HPNAP $121,338.75 $237,176.33 $57,867.61 $111,734.25 $446,937.00 53 %

HPNAP PRODUCE $5,281.82 $9,539.90 $0.00 $15,342.75 $61,371.00 16 %


TOTAL AGENCIES WHSALE FOOD $195,703.69 $356,305.29 $266,057.70 $281,912.22 $1,127,649.00 32 %


Income Statement


4/30/2020 11:27:05 AM Page 4

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TEFAP

TEFAP FOOD EXPENSE $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCIES TEFAP $604,273.12 $1,269,988.61 $445,924.97 $173,176.74 $692,707.00 183 %

TOTAL AGENCIES $799,976.81 $1,626,293.90 $711,982.67 $455,088.96 $1,820,356.00 89 %


MFP SHARED MAINTENANCE

GENERAL $2,202.31 $3,082.50 $12,445.20 $24,249.75 $96,999.00 3 %


WHOLESALE FOOD

GENERAL $0.00 $0.00 $7,248.74 $6,730.74 $26,923.00 0 %

HPNAP $6,399.64 $10,481.38 $370.25 $0.00 $0.00 0 %

HPNAP PRODUCE $728.88 $5,114.15 $14,357.32 $19,130.73 $76,523.00 7 %

TOTAL MFP WHOLESALE FOOD $7,128.52 $15,595.53 $21,976.31 $25,861.47 $103,446.00 15 %

TEFAP

TEFAP FOOD EXPENSE $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL MFP TEFAP $264,369.02 $827,796.80 $273,044.83 $119,191.50 $476,766.00 174 %

TOTAL MOBILE FOOD PANTRIES $273,699.85 $846,474.83 $307,466.34 $169,302.72 $677,211.00 125 %

YOUTH PROGRAMS

SHARED MAINTENANCE

BK GENERAL $1,420.38 $15,241.31 $5,634.08 $6,772.98 $27,092.00 56 %


WHOLESALE FOOD

BK GENERAL $11,953.35 $29,411.60 $70,768.71 $37,495.74 $149,983.00 20 %

KFM GENERAL PRODUCE $0.00 $0.00 $1,006.94 $999.99 $4,000.00 0 %

SCHOOL PANTRY $0.00 $2,913.84 $2,727.11 $3,249.99 $13,000.00 22 %

BOCES SUMMER PROGRAM $0.00 $0.00 $0.00 $5,434.74 $21,739.00 0 %

TOTAL BKPK WHOLESALE FOOD $11,953.35 $32,325.44 $74,502.76 $47,180.46 $188,722.00 17 %

TEFAP

TEFAP FOOD EXPENSE $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %

Total TEFAP $5,889.73 $30,448.25 $619.96 $16,937.49 $67,750.00 45 %


DISASTER RELIEF

WHOLESALE

HPNAP PRODUCE $186.99 $186.99 $0.00 $0.00 $0.00 0 %


Income Statement


4/30/2020 11:27:05 AM Page 5

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

TOTAL WHOLESALE $186.99 $186.99 $0.00 $0.00 $0.00 0 %

TEFAP

TEFAP FOOD EXPENSE $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

TOTAL TEFAP $76,668.29 $76,668.29 $0.00 $0.00 $0.00 0 %

Total DISASTER RELIEF $76,855.28 $76,855.28 $0.00 $0.00 $0.00 0 %

TOTAL FOOD EXPENSE $1,169,795.40 $2,627,639.01 $1,100,205.81 $695,282.61 $2,781,131.00 94 %

OTHER FOOD EXPENSES

OTHER FOOD/PROGRAM

TURKEY DRIVE $0.00 $0.00 $0.00 $18,062.49 $72,250.00 0 %

INTERAFFILIATE $2,390.76 $2,390.76 $3,672.25 $4,599.24 $18,397.00 13 %

HEALTHY HARVEST $538.98 $1,413.50 $607.90 $7,562.49 $30,250.00 5 %

EMERGENCY FOOD BOX $0.00 $204.59 $386.95 $499.98 $2,000.00 10 %

VENISON PROCESSING $1,230.00 $7,710.00 $4,632.25 $2,826.75 $11,307.00 68 %

NYS SUMMER FOOD PROGRAM $0.00 $0.00 $0.00 $249.99 $1,000.00 0 %

DISASTER RELIEF $37,033.77 $37,033.77 $0.00 $0.00 $0.00 0 %

INVENTORY ADJUSTMENT $558.32 $1,515.62 ($249.55) $249.99 $1,000.00 152 %

PRODUCT PACKAGING $0.00 $0.00 ($946.56) ($1,276.50) ($5,106.00) 0 %

AGENCY LINE OF CREDIT $69.10 $326.57 $34.01 $124.98 $500.00 65 %

TOTAL OTHER FOOD/PROGRAM $41,820.93 $50,594.81 $8,137.25 $32,899.41 $131,598.00 38 %


PRODUCT FREIGHT $3,214.67 $6,614.67 $5,085.00 $21,785.73 $87,143.00 8 %


TOTAL PRODUCT FREIGHT $6,634.67 $18,457.40 $18,300.00 $27,754.47 $111,018.00 17 %

TOTAL OTHER FOOD EXPENSES $48,455.60 $69,052.21 $26,437.25 $60,653.88 $242,616.00 28 %

DONATED PRODUCT

DONATED PRODUCT $383,424.84 $1,125,799.56 $1,435,958.16 $1,343,208.99 $5,372,836.00 21 %



VEHICLE

VEHICLE - FUEL $5,311.54 $13,617.22 $12,247.06 $12,997.95 $51,992.00 26 %

VEHICLE MAINTENANCE $2,105.32 $10,473.61 $1,923.13 $5,625.00 $22,500.00 47 %

VEHICLE - INSURANCE $1,655.16 $4,965.48 $4,579.74 $4,965.48 $19,862.00 25 %

OTHER VEHICLE EXPENSE $0.00 $552.90 $3,298.07 $1,583.25 $6,333.00 9 %

TOTAL VEHICLE $9,072.02 $29,609.21 $22,048.00 $25,171.68 $100,687.00 29 %


Income Statement


4/30/2020 11:27:05 AM Page 6

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

WAREHOUSE

EQUIPMENT MAINTENANCE $966.62 $7,431.30 $4,035.52 $4,125.00 $16,500.00 45 %

GENERAL SUPPLIES $273.62 $1,124.91 $685.92 $2,749.98 $11,000.00 10 %

MFP SUPPLIES $62.00 $1,236.32 $0.00 $874.98 $3,500.00 35 %

MISCELLANEOUS $0.00 $65.00 $408.00 $499.98 $2,000.00 3 %

TOTAL WAREHOUSE $1,302.24 $9,857.53 $5,129.44 $8,249.94 $33,000.00 30 %

PRODUCTION ROOM

REPACKING SUPPLIES $1,006.94 $2,171.19 $3,400.14 $2,374.98 $9,500.00 23 %


TOTAL PRODUCTION ROOM $1,677.13 $3,092.64 $3,781.69 $2,999.97 $12,000.00 26 %

TOTAL WHRS / DISTRIB $12,051.39 $42,559.38 $30,959.13 $36,421.59 $145,687.00 29 %

GENERAL OPERATIONS

BUILDING

INSURANCE $3,736.51 $11,209.53 $10,819.68 $11,496.48 $45,986.00 24 %

UTILITIES $7,810.00 $24,341.35 $21,706.00 $18,312.48 $73,250.00 33 %

PHYSICAL PLANT MAINT/REPAIRS $232.60 $1,816.24 $1,670.42 $1,999.98 $8,000.00 23 %

PHYSICAL GROUNDS MAINTENANCE $0.00 $0.00 $0.00 $212.46 $850.00 0 %

EXTERMINATOR $350.50 $1,051.50 $1,294.80 $1,249.98 $5,000.00 21 %

JANITORIAL $1,812.87 $5,274.21 $6,293.33 $5,949.99 $23,800.00 22 %

RUBBISH & TRASH REMOVAL $639.50 $1,883.00 $2,055.00 $1,749.99 $7,000.00 27 %

OTHER OCCUPANCY EXPENSE $0.00 $1,543.56 $1,541.69 $399.99 $1,600.00 96 %

TOTAL BUILDING $14,581.98 $47,119.39 $45,380.92 $41,371.35 $165,486.00 28 %

GENERAL OFFICE

OFFICE SUPPLIES $915.00 $6,350.86 $3,948.99 $6,162.93 $24,653.00 26 %

PROGRAM & EDUCATIONAL $0.00 $1,233.87 $3,236.77 $2,356.20 $9,425.00 13 %

POSTAGE & MAILING $685.45 $2,034.45 $2,008.15 $3,374.94 $13,500.00 15 %

OFFICE EQUIPMENT / FURNITURE $0.00 $0.00 $420.49 $0.00 $0.00 0 %

COMPUTER EQUIPMENT $101.97 $8,512.98 $4,057.44 $2,612.46 $10,450.00 81 %

FOOD SUPPLIES $15.29 $121.27 $194.40 $199.98 $800.00 15 %

BANK CHGS / SCVS FEES $2,376.21 $5,827.15 $4,424.45 $6,099.00 $24,396.00 24 %

MISCELLANEOUS $212.09 $208.72 $233.94 $262.44 $1,050.00 20 %

TOTAL GENERAL OFFICE $4,306.01 $24,289.30 $18,524.63 $21,067.95 $84,274.00 29 %

TECHNOLOGY/SERVICES

INTERNET SERV/COMM $124.95 $374.85 $375.14 $658.98 $2,636.00 14 %

EQUIPMENT LEASE & REPAIR $457.88 $1,373.64 $1,707.11 $1,566.24 $6,265.00 22 %

MEMBERSHIP FEES/DUES $0.00 $2,145.00 $2,350.00 $5,684.97 $22,740.00 9 %


Income Statement


4/30/2020 11:27:05 AM Page 7

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

LICENSEING FEES $2,709.09 $15,669.82 $15,008.51 $15,484.20 $61,937.00 25 %

TELEPHONE $712.37 $1,978.14 $1,968.65 $1,901.46 $7,606.00 26 %

TOTAL TECHNOLOGY/SERVICES $4,004.29 $21,541.45 $21,409.41 $25,295.85 $101,184.00 21 %

STAFF EXPENSES

CONFERENCES ($799.99) $2,819.92 $14,118.00 $5,924.94 $23,700.00 12 %

STAFF DEVELOPMENT $5,798.00 $6,022.00 $2,920.47 $2,709.93 $10,840.00 56 %

MILEAGE $437.19 $3,184.81 $3,967.03 $4,488.12 $17,953.00 18 %

HOST FOOD & BEVERAGE $1,337.36 $1,941.83 $486.12 $1,362.45 $5,450.00 36 %

SUBCRIPTIONS & PUBLICATIONS $247.99 $647.85 $0.00 $0.00 $0.00 0 %

Total STAFF EXPENSES $7,020.55 $14,616.41 $21,491.62 $14,485.44 $57,943.00 25 %

CONTRACT SERVICES

ACCOUNTING $15,416.66 $46,250.06 $47,500.02 $46,249.98 $185,000.00 25 %

HUMAN RESOURCES $2,949.33 $8,848.03 $8,873.01 $8,847.99 $35,392.00 25 %

TECHNOLOGY $2,313.25 $6,939.75 $6,609.27 $6,939.75 $27,759.00 25 %

COMPLIANCE $2,188.00 $6,564.00 $6,096.51 $6,564.00 $26,256.00 25 %

HRIS $0.00 $0.00 $0.00 $437.25 $1,749.00 0 %

LEGAL $0.00 $178.50 $2,163.00 $0.00 $0.00 0 %

AUDIT $0.00 $0.00 $0.00 $2,749.98 $11,000.00 0 %

OTHER $2,175.67 $7,392.22 $11,381.64 $7,834.23 $31,337.00 24 %

TOTAL CONTRACT SERVICES $25,042.91 $76,172.56 $82,623.45 $79,623.18 $318,493.00 24 %

TOTAL GENERAL OPERATIONS $54,955.74 $183,739.11 $189,430.03 $181,843.77 $727,380.00 25 %

DEVELOPMENT/PR

SPECIAL EVENTS

CANSTRUCTION $0.00 $0.00 $2,729.15 $137.49 $550.00 0 %

EMPTY BOWLS $0.00 $0.00 $0.00 $375.00 $1,500.00 0 %

OTHER MISC. EVENT EXPENSE $240.82 $618.65 $2,423.44 $12,249.93 $49,000.00 1 %

TOTAL SPECIAL EVENTS $240.82 $618.65 $5,152.59 $12,762.42 $51,050.00 1 %

DIRECT MAIL

DIRECT MAIL $24,664.96 $44,099.88 $36,507.38 $68,499.99 $274,000.00 16 %

DIGITAL SERVICES $2,000.00 $2,000.00 $4,850.00 $4,999.98 $20,000.00 10 %


GEN. DEVELOPMENT / PR EXPENSE

PUBLIC RELATIONS $983.00 $1,484.09 $8,012.22 $537.45 $2,150.00 69 %

ADVERTISING/PROMOTIONS $0.00 $2,290.90 $1,603.69 $10,261.47 $41,046.00 6 %

VOLUNTEER RECGONITION $697.74 $708.66 $1,770.11 $1,674.99 $6,700.00 11 %

ANNUAL REPORT $0.00 $0.00 $0.00 $249.99 $1,000.00 0 %


Income Statement


4/30/2020 11:27:05 AM Page 8

CURRENT

MONTH

03/01/2020

03/31/2020

CURRENT YTD

ACTUAL

01/01/2020

03/31/2020

LAST YTD

ACTUAL

01/01/2019

03/31/2019

PROJECTION

TO DATE

01/01/2020

03/31/2020

FULL YR

PROJECT.

01/01/2020

12/31/2020

% TO

FULL YEAR

PROJECTION

ANNUAL MEETING $0.00 $0.00 $0.00 $1,500.00 $6,000.00 0 %

CIRCLE TO FEED HOPE $1,800.23 $1,800.23 $721.56 $3,750.00 $15,000.00 12 %

TURKEY DRIVE $0.00 $0.00 $0.00 $1,924.98 $7,700.00 0 %

TOTAL GEN. DEV. / PR EXPENSE $3,480.97 $6,283.88 $12,107.58 $19,898.88 $79,596.00 8 %

TOTAL DEVELOPMENT/PR $30,386.75 $53,002.41 $58,617.55 $106,161.27 $424,646.00 12 %

ADVOCACY & EDUCATION

ADVOCACY GROUP/SPEAKERS $0.00 $263.13 $1,248.67 $1,875.00 $7,500.00 4 %

TOTAL ADVOCACY & EDUCATION $0.00 $263.13 $1,248.67 $1,875.00 $7,500.00 4 %

HPNAP OPERATION SUPPORT/SANI SUPP

OPERATION SUPPORT $0.00 $15,170.68 $7,983.90 $48,129.24 $192,517.00 8 %


TOTAL HPNAP OPERATION SUP. $0.00 $15,170.68 $7,983.90 $48,679.23 $194,717.00 8 %

TOTAL EXPENSES $1,935,374.55 $4,818,055.22 $3,479,359.51 $3,148,863.51 $12,595,463.00 38 %

NET BEFORE CAP CAMP ALLOC $735,791.39 $661,455.76 ($237,212.78) ($12,788.43) ($51,161.00) (1,293)%

CAPITAL CAMPAIGN ALLOCATIONS

BACKPACK PROGRAM $0.00 $0.00 $8,605.50 $0.00 $0.00 0 %

PERSONNEL $4,035.91 $12,107.73 $18,955.01 $12,107.73 $48,431.00 25 %

CAPITAL CAMPAIGN ALLOCATIONS $4,035.91 $12,107.73 $27,560.51 $12,107.73 $48,431.00 25 %

CAPITAL EXPENSES

CAPITAL IMPROVEMENTS $0.00 $0.00 ($21,401.31) $0.00 $0.00 0 %

Total CAPITAL EXP. $0.00 $0.00 $21,401.31 $0.00 $0.00 0 %

NET BEFORE NON-OPERATING $739,827.30 $673,563.49 ($231,053.58) ($680.70) ($2,730.00) (24,673)%

NON-OPERATING ADJUST.

DEPRECIATION/AMORTIZATION ($30,986.93) ($92,961.03) ($76,308.23) $0.00 $0.00 0 %

CAPITAL IMPROVEMENTS $0.00 $0.00 $18,850.00 $0.00 $0.00 0 %

INVESTMENT GAIN/LOSS ($204,423.84) ($328,862.84) $140,867.59 $0.00 $0.00 0 %

RELEASE FROM TEMP RESTRICT ($4,035.91) ($12,107.73) ($27,560.51) $0.00 $0.00 0 %

TOTAL NON-OPER ADJUST ($239,446.68) ($433,931.60) $55,848.85 $0.00 $0.00 0 %

NET SURPLUS/(DEFICIT) $500,380.62 $239,631.89 ($175,204.73) ($680.70) ($2,730.00) (8,778)%


Income Statement


4/30/2020 11:27:05 AM Page 9


Income Statement


4/30/2020 11:27:05 AM Page 10

The Food Bank of the Southern Tier FINANCIAL REPORT – [March 2020]

% to Budget Guideline (Month 3 of 12): 25% YTD Actual to Budget: 41% Total Income LAST YTD: 23% Total Income 37% Total Expenses 25% Total Expenses

OVERALL • TEFAP Trade Mitigation food continues to roll in and we are told to expect that all year. • TEFAP TM Admin will continue to boost revenue throughout 2020 (we are separating the regular and TM admin

funds from the COVID admin funds). • Wholesale supply chains are concerning. Lead times are long and prices are very high. • Donated product streams have shifted significantly from other Food Banks and Retail to Producer and National

Wholesale suppliers. Unfortunately, we are not able to take advantage of much of that product. • MFP and Youth Program activity are paused as we have transitioned to Disaster Relief Agencies. • Fundraising is above seasonal averages as the Mother Cabrini grant hit in January. • We have developed a separate COVID Income Statement that can be folded into the Operating Statement.

INCOME STATEMENT:

(Percentages Relate to Budget Projection) Revenue Items: Agency Food: 79%

Above target. Shared Maintenance is little light as we are not seeing product from other FB’s at this time. General WH is light as TEFAP and HPNAP provide ample substitutes. TEFAP TM is very robust. We have concerns about the Wholesale supply chain right now – 2 month lead times at best plus rocketing prices.

MFP Food: 99%

Youth Programs Food: 48%

Above target. All about TEFAP. Shared Maintenance and Wholesale on pause right now as all regular MFP activity has transitioned to County Disaster Relief Agencies (recorded on a separate Income Statement. Above target. TEFAP very strong YoY. Youth Programs are also on pause as we have transitioned to the DR Agencies.

Donated Product: 21%

Near target. Still tough to find room in our freezer with all the TEFAP. This category may come under pressure as the COVID crisis deepens (we are seeing Food Banks and Retailers having less product to share right now).

HPNAP General Operating: 26% On target. Operations Support will mostly be spent in the second half. Operating Income will have a heavier spend in first half of year.

Other Contracts/Programs: 44%

Above target. TEFAP Admin ahead of target (Q1 adj.).

Fund-Raising/Donations: 33.15%

Above seasonal average of 13.82%. The Mother Cabrini Grant was recorded in January. Fundraising will see significant COVID related adjustments this year.

*Please note that seasonal comparisons for the individual lines can be accomplished by looking at 2019 Y-T-D totals (we only have one year of history with the “new” fundraising categories).

Other Income: 46%

Above target. Couple one-time revenue receipts + continued Rent Income for back garage. Will be Q1 Adj.’s.

Food Bank of the Southern Tier Page 2 Financial Report – March 2020

EXPENSE ITEMS: Personnel: 26% On target. Plenty of dynamics here right now…..regular employees

on disability, some current position vacancies along with adding extra contract workers to help with the increased COVID demand.

Agency Food: 89% MFP Food: 125% Youth Programs Food: 28%

Above target. TEFAP! Above target. TEFAP! Near target. Expect all wholesale lines to see adjustments as normal channels of distribution have shifted.

Other Program Food: 10% Product Acquisition Freight: 15% Donated Product: 21%

Below target. Very seasonal here with Turkey Drive and Healthy Harvest expenses. Below target. The expected strong flow of TEFAP product should help keep this number in good shape throughout the year. Near target.

Warehouse/Distribution: 28% Near target. Vehicle Maintenance is a bit high due to damage

repair. Replaced a bad cooler compressor (Equipment Maintenance) in February.

General Operations: 25% On target. Computer Equipment expenses for P2 upgrade (Primarius inventory software) occurred in January. Staff Development includes March charges to facilitate focus group to examine employee climate survey results.

Development/PR: 12% Advocacy & Education: 4%

Below target. Highly seasonal cost centers in the Development budget. Below target/as expected. Seasonal here also.

HPNAP Operation Support 8% NON-OPERATING ITEMS: Cap. Camp. Allocations: 25%

Below target. Remaining funds from 2018-2020 contract spent in January. The rest of the budget will be spent in the second half of the year (normal seasonality). On target/as expected. Internally controlled. Truck Campaign allocations expected to end in 2021.

Program Food Accounting Distinctions:

1. There is MFP HPNAP Shared Maintenance income but no expense (acquisition costs are reimbursable).

2. There is BackPack Wholesale expense but no income (the Food Bank pays for this program expense).

3. There is Agency Shared Maintenance income but no expense (it is donated product).

4. Inter-Affiliate Food expenses are recouped in Shared Maintenance revenue.

5. Other Program Food expenses are paid for by matching grants and fundraising.

2020 2020 % ChangeQ1 Adjusted Original Variance Q1 vs. Orig.

REVENUEFOOD DISTRIBUTIONAGENCIES

SHARED MAINTENANCE $163,532 $180,085 ($16,553) -9%WHOLSALE FOOD $1,398,029 $1,296,796 $101,233 8%TEFAP FOOD $1,346,657 $692,707 $653,950 94%TOTAL AGENCY FOOD $2,908,218 $2,169,588 $738,630 34%

MOBILE FOOD PANTRIESSHARED MAINTENANCE $297,380 $326,179 ($28,799) -9%WHOLSALE FOOD $78,801 $88,002 ($9,201) -10%TEFAP FOOD $827,797 $476,766 $351,031 74%TOTAL MOBILE FOOD PANTRIES $1,203,978 $890,947 $313,031 35%

YOUTH PROGRAMSSHARED MAINTENANCE $27,092 $27,092 $0 0%WHOLSALE FOOD $25,000 $25,000 $0 0%TEFAP FOOD $67,750 $67,750 $0 0%TOTAL YOUTH PROGRAMS $119,842 $119,842 $0 0%

TOTAL FOOD DISTRIBUTION $4,232,038 $3,180,377 $1,051,661 33%

DONATED PRODUCTDONATED PRODUCT $5,372,836 $5,372,836 $0 0%TOTAL DONATED PRODUCT $5,372,836 $5,372,836 $0 0%

GRANTS / PROGRAMSHPNAP GENERAL OPERATING

OPERATIONS SUPPORT $171,018 $186,115 ($15,097) -8%OPERATIONS SUPPORT SEED GRANT $6,402 $6,402 $0 0%AGENCY SANITATION SUPPLIES $2,200 $2,200 $0 0%TRANSPORTATION GRANT $23,875 $23,875 $0 0%OPERATING INCOME (HPNAP) $288,483 $231,155 $57,328 25%OPERATING INCOME (HPNAP) COLA $0 $0 $0 #DIV/0!OPERATING INCOME (JSY) $124,221 $124,221 $0 0%TOTAL HPNAP OPERATING $616,199 $573,968 $42,231 7%

OTHER GRANTS / PROGRAMSCHEMUNG COUNTY $30,000 $30,000 $0 0%NOEP $65,000 $65,000 $0 0%TEFAP ADMIN $325,538 $201,217 $124,321 62%VENISON PROGRAM $11,307 $11,307 $0 0%BACKPACK REIMBURSEMENT $0 $0 $0 #DIV/0!TOTAL OTHER GRANTS / PGMS $431,845 $307,524 $124,321 40%

TOTAL GRANTS / PROGRAMS $1,048,044 $881,492 $166,552 19%

FUNDRAISING / DONATIONSCAUSE MARKETING $438,850 $438,850 $0 0%SPECIAL EVENTS $269,300 $269,300 $0 0%DIRECT MAIL $920,000 $920,000 $0 0%ONLINE GIVING $245,000 $245,000 $0 0%PERSONAL SOLICITATION $150,800 $150,800 $0 0%GENERAL DEVELOPMENT GRANTS $323,250 $266,000 $57,250 22%WHITE MAIL $600,000 $600,000 $0 0%ALL OTHER PRIVATE SUPPORT $170,000 $170,000 $0 0%TOTAL FUNDRAISING/DONATIONS $3,117,200 $3,059,950 $57,250 2%



OTHER INCOMEOTHER INCOME $64,757 $49,647 $15,110 30%TOTAL OTHER INCOME $64,757 $49,647 $15,110 30%

TOTAL REVENUE $13,834,875 $12,544,302 $1,290,573 10%

EXPENSES

PERSONNEL EXPENSESSALARIES $2,148,333 $2,148,333 $0 0%FRINGE BENEFITS $536,867 $536,867 $0 0%OTHER $13,750 $13,750 $0 0%TOTAL PERSONNEL EXPENSES $2,698,950 $2,698,950 $0 0%

FOOD EXPENSEAGENCIES

WHOLESALE FOOD $1,215,677 $1,127,649 $88,028 8%TEFAP FOOD $1,346,657 $692,707 $653,950 94%TOTAL AGENCIES $2,562,334 $1,820,356 $741,978 41%

MOBILE FOOD PANTRIESMFP SHARED MAINTENANCE $96,999 $96,999 $0 0%WHOLESALE FOOD $84,358 $103,446 ($19,088) -18%TEFAP FOOD $827,797 $476,766 $351,031 74%TOTAL MOBILE FOOD PANTRIES $1,009,154 $677,211 $331,943 49%

YOUTH PROGRAMSSHARED MAINTENANCE $27,092 $27,092 $0 0%WHOLESALE FOOD $188,722 $188,722 $0 0%TEFAP FOOD $67,750 $67,750 $0 0%TOTAL YOUTH PROGRAMS $283,564 $283,564 $0 0%

TOTAL FOOD EXPENSE $3,855,052 $2,781,131 $1,073,921 39%

OTHER FOOD EXPENSESOTHER FOOD/PROGRAM

OTHER FOOD/PROGRAM $195,971 $131,598 $64,373 49%TOTAL OTHER FOOD/PROGRAM $195,971 $131,598 $64,373 49%

PRODUCT ACQUISITION FREIGHTPRODUCT FREIGHT $111,018 $111,018 $0 0%TOTAL PRODUCT FREIGHT $111,018 $111,018 $0 0%

TOTAL OTHER FOOD EXPENSES $306,989 $242,616 $64,373 27%

DONATED PRODUCTDONATED PRODUCT $5,372,836 $5,372,836 $0 0%TOTAL DONATED PRODUCT $5,372,836 $5,372,836 $0 0%

WAREHOUSE / DISTRIBUTIONVEHICLE $104,446 $100,687 $3,759 4%WAREHOUSE $33,000 $33,000 $0 0%PRODUCTION ROOM $12,000 $12,000 $0 0%TOTAL WAREHOUSE / DISTRIBUTION $149,446 $145,687 $3,759 3%


GENERAL OPERATIONSBUILDING $165,486 $165,486 $0 0%GENERAL OFFICE $84,274 $84,274 $0 0%TECHNOLOGY/SERVICES $101,184 $101,184 $0 0%STAFF EXPENSES $57,943 $57,943 $0 0%CONTRACT SERVICES $318,493 $318,493 $0 0%TOTAL GENERAL OPERATIONS $727,380 $727,380 $0 0%

DEVELOPMENT/PRSPECIAL EVENTS $51,050 $51,050 $0 0%DIRECT MAIL $294,000 $294,000 $0 0%GEN. DEVELOPMENT / PR EXPENSE $79,596 $79,596 $0 0%TOTAL DEVELOPMENT/PR $424,646 $424,646 $0 0%

ADVOCACY & EDUCATIONADVOCACY & EDUCATION $7,500 $7,500 $0 0%TOTAL ADVOCACY & EDUCATION $7,500 $7,500 $0 0%

AGENCY CAPACITY BUILDINGOPERATION SUPPORT $179,620 $194,717 ($15,097) -8%TOTAL HPNAP OPERATION SUPPORT $179,620 $194,717 ($15,097) -8%

TOTAL EXPENSES $13,722,419 $12,595,463 $1,126,956 9%

NET BEFORE CAP CAMPAIGN ALLOC $112,456 ($51,161) $163,617 -320%

CAPITAL CAMPAIGN ALLOCATIONSCAPITAL CAMPAIGN ALLOCATIONS $0 $0 $0 #DIV/0!TRUCK CAMPAIGN ALLOCATIONS $48,431 $48,431 $0 0%TOTAL CAP CAMPAIGN ALLOC $48,431 $48,431 $0 0%

NET BEFORE CAPITAL EXPENSES $160,887 ($2,730) $163,617 -5993%

CAPITAL EXPENSESCAPITAL EQUIPMENT $0 $0 $0 #DIV/0!EQUIPMENT/FURNITURE PURCHASES $0 $0 $0 #DIV/0!CAPITAL IMPROVEMENTS $0 $0 $0 #DIV/0!TOTAL CAPITAL EXPENSES $0 $0 $0 #DIV/0!

NET BEFORE NON-OPERATING $160,887 ($2,730) $163,617 -5993%

NON-OPERATING ADJUSTMENTSADVERTISING - OTHER $0 $0 $0 #DIV/0!TOTAL NON-OPERATING ADJUSTMENT $0 $0 $0 #DIV/0!

NET SPPLUS/DEFICT $160,887 ($2,730) $163,617 -5993%

Beginning Surplus/Deficit ($2,730)A/C # A/C Name Current $$ Adjusted $$ Change Net Effect

31-4156-821 AGENCY HPNAP PRODUCE COLA - Revenu $20,420 $0 ($20,420)31-9312-821 AGENCY HPNAP PRODUCE COLA - Expense $20,420 $0 $20,42031-4156-823 MFP HPNAP COLA PRODUCE - Revenue $19,105 $0 ($19,105)31-9312-823 MFP HPNAP COLA PRODUCE - Expense $19,105 $0 $19,10531-4100-821 AGENCY HPNAP WH COLA - Revenue $0 $39,525 $39,52531-9313-821 AGENCY HPNAP WH COLA - Expense $0 $39,525 ($39,525)31-3215-821 AGENCY HPNAP HF COLA $3,063 $5,929 $2,86631-3215-823 MFP HPNAP HF COLA $2,866 $0 ($2,866)31-9306-833 Healthy Harvest $30,250 $87,500 ($57,250)31-3108-XXX General Development Grants $266,000 $323,250 $57,25031-4135-821 Agency HPNAP SM Revenue $131,524 $114,971 ($16,553)31-4135-823 MFP HPNAP SM Revenue $229,180 $200,381 ($28,799)31-4142-821 Agency HPNAP WH Revenue $446,937 $515,860 $68,92331-3213-821 HPNAP HF WH + PRODUCE $76,246 $86,585 $10,33931-9313-821 Agency HPNAP WH Expense $446,937 $515,860 ($68,923)31-4142-823 MFP HPNAP WH Revenue $0 $11,104 $11,10431-3213-823 HPNAP HF WH + PRODUCE $8,613 $10,279 $1,66631-9306-812 MFP GENERAL WH Expense $26,923 $15,836 $11,08731-9311-823 MFP HPNAP WH Expense $0 $11,104 ($11,104)31-3212-521 HPNAP Operations Support Revenue $186,115 $171,018 ($15,097)31-9317-521 HPNAP Operations Support Expense $186,115 $171,018 $15,09731-3211-521 Operating Income (HPNAP) $231,155 $288,483 $57,32831-4158-814 TEFAP Revenue - Agencies $692,707 $1,346,657 $653,95031-9308-814 TEFAP Expense - Agencies $692,707 $1,346,657 ($653,950)31-4158-812 TEFAP Revenue - MFP's $476,766 $827,797 $351,03131-9308-812 TEFAP Expense - MFP's $476,766 $827,797 ($351,031)31-3211-814 TEFAP Administrative $201,217 $325,538 $124,321 $124,32131-5917-410 Rent/Taxes/Utilities $0 $9,800 $9,800 $9,80031-5905-411 Misc. Income $18,222 $20,722 $2,500 $2,50031-8988-822 Product Packaging ($5,106) $0 ($5,106) ($5,106)31-8027-618 Turkey Drive $72,250 $74,267 ($2,017) ($2,017)31-8511-811 Vehicle Maintenance $22,500 $26,259 ($3,759)31-5918-410 Insurance Claim $0 $2,810 $2,810

Net Before Non-Operating $160,887 $163,617

Ending Projected Surplus/Deficit $160,887 $163,617

Adjusted $$

$0Total

A/C Name Comment2020 "Non-Budget" Expenditures- First Quarter

2020 Budget Changes - First Quarter

Discontinue Adding VAP Material Cost to Donated Product

Mother Cabrini Grant; Re-Purpose the HPNAP LA Grant from Produce to Wholesale and Restore Healthy Harvest Close to 2019

Levels$0

Reallocations of the remainder of 2018 - 2020 HPNAP Contract$35,068

Rental Income on Back GarageReimbursement for Natasha's Participation on RHN Advisory Cmte

Adjust to Q1 Results. We will just update quarterly results for TEFAP Food as allocations change nearly eavery day and these line are

revenue neutral$0

Allocated TM Truckloads thru Q3

Adjustment Based on 2019 Final Fundraising Total

($949) Truck damage backing into a building; Repairs and Reimbursement

1st Quarter 2020 Budget Projections (Net Change = +$163,617)

Snapshot: Much of the Q1 adjustments relate to reallocating the HPNAP grant as we mercifully enter the last period of the 20-month extended grant. We also shifted the HPNAP LA grant from Produce to a special Easter dinner distribution, thanks to the Mother Cabrini grant. We adjusted TEFAP food to the Q1 results (being revenue neutral and given the high degree of current variability, we will only adjust TEFAP food to the quarterly results). We also adjusted TEFAP TM Admin revenue to reflect reimbursable expenses related shipment allocations thru Q3.

Food - Agencies: Prior $2,169,588/New $2,908,218 Net = +$738,630 HPNAP SM: Reallocation of 18-20 HPNAP Regular & LA Grant (-$16,553). HPNAP WH: Reallocation of 18-20 HPNAP Regular & LA Grant (+$101,233). TEFAP Food: Trade Mitigation (+$653,950).

Food - MFP’s: Prior $890,947/New $1,203,978 Net = +$313,031 HPNAP SM: Reallocation of 18-20 HPNAP Regular & LA Grant (-$28,799). HPNAP WH: Reallocation of 18-20 HPNAP Regular & LA Grant (-$9,201). TEFAP Food: Trade Mitigation (+$351,031). Food – Youth Programs: No Change Food - Donated Product: No Change

HPNAP General Operating: Prior $573,968/New $616,199 Net = +$42,231 Operations Support: Reallocation of 18-20 HPNAP Grant (-$15,097). Operating Income: Reallocation of 18-20 HPNAP Grant (+$57,328). Other Grants/Programs: Prior $307,524/New $431,845 Net = +$124,321 TEFAP Admin: Trade Mitigation thru Q3 (+$124,321).

Fundraising: Prior $3,059,950/New $3,117,200 Net = +$57,200 Development Grants: Mother Cabrini - Increase in Healthy Harvest Produce Expense (+57,200). Other Income: Prior $49,647/New $64,757 Net = +$15,110 Rent Income: Lease of back garage (+$9,800). Insurance Claim: Reimbursement for Truck Damage (+$2,810). Conference Reimbursement: Natasha’s Participation on RHN Advisory Committee ($2,500).

Revenue

Personnel Expenses: No Change Food - Agencies: Prior $1,820,356/New $2,562,334 Net = +$741,978 HPNAP WH: Reallocation of 18-20 HPNAP Regular & LA Grant (+$88,028). TEFAP Food: Trade Mitigation (+$653,950). Food - MFP’s: Prior $677,211/New $1,009,154 Net = +$331,943 General WH: Used Reallocated HPNAP Funds (-$11,087). HPNAP WH: Reallocation of 18-20 HPNAP Regular & LA Grant (-$8,001). TEFAP Food: Trade Mitigation (+$351,031). Food – Youth Programs: No Change Food – Other Expenses: Prior $131,598/New $195,971 Net = +$64,373 Turkey Drive: Adjust 2020 Spend to Reflect Final 2019 Fundraising (+$2,017). Healthy Harvest: Mother Cabrini Grant (+57,250). Product Packaging: Discontinue Recouping VAP Material Cost on Repack Product (+$5,106). Food - Donated Product: No Change Warehouse/Distribution: Prior $145,687/New $149,446 Net = +$3,759 Vehicle Maintenance: Repairs to Truck Damage (+$3,759). General Operations: No Change

Development/PR: No Change Advocacy & Education: No Change Agency Capacity Building: Prior $194,717/New $179,620 Net = -$15,097 Operations Support: Reallocate OS funds(-$15,097). Capital Campaign Allocations: No Change Capital Expenses: No Change Non-Operating Adjustments: No Change

Expenses


REVENUEFOOD DISTRIBUTIONCOUNTY DR AGENCIES

SHARED MAINTENANCE $7,104 $0 $7,104 #DIV/0!WHOLSALE FOOD $215 $0 $215 #DIV/0!TEFAP FOOD $76,668 $0 $76,668 #DIV/0!TOTAL AGENCY FOOD $83,987 $0 $83,987 #DIV/0!

TOTAL FOOD DISTRIBUTION $83,987 $0 $83,987 #DIV/0!

GRANTS / PROGRAMSOTHER GRANTS / PROGRAMS

TEFAP ADMIN $369,389 $0 $369,389 #DIV/0!TOTAL OTHER GRANTS / PGMS $369,389 $0 $369,389 #DIV/0!

TOTAL GRANTS / PROGRAMS $369,389 $0 $369,389 #DIV/0!

FUNDRAISING / DONATIONSCAUSE MARKETING $0 $0 $0 #DIV/0!SPECIAL EVENTS $0 $0 $0 #DIV/0!DIRECT MAIL $325 $0 $325 #DIV/0!ONLINE GIVING $79,924 $0 $79,924 #DIV/0!PERSONAL SOLICITATION $0 $0 $0 #DIV/0!GENERAL DEVELOPMENT GRANTS $52,500 $0 $52,500 #DIV/0!WHITE MAIL $13,960 $0 $13,960 #DIV/0!ALL OTHER PRIVATE SUPPORT $0 $0 $0 #DIV/0!TOTAL FUNDRAISING/DONATIONS $146,709 $0 $146,709 #DIV/0!

OTHER INCOMEOTHER INCOME $0 $0 $0 #DIV/0!TOTAL OTHER INCOME $0 $0 $0 #DIV/0!

TOTAL REVENUE $600,085 $0 $600,085 #DIV/0!

EXPENSES

PERSONNEL EXPENSESSALARIES $2,168 $0 $2,168 #DIV/0!FRINGE BENEFITS $160 $0 $160 #DIV/0!OTHER $211 $0 $211 #DIV/0!TOTAL PERSONNEL EXPENSES $2,539 $0 $2,539 #DIV/0!

FOOD EXPENSECOUNTY DR AGENCIES

WHOLESALE FOOD $187 $0 $187 #DIV/0!TEFAP FOOD $76,668 $0 $76,668 #DIV/0!TOTAL AGENCIES $76,855 $0 $76,855 #DIV/0!

TOTAL FOOD EXPENSE $76,855 $0 $76,855 #DIV/0!

OTHER FOOD EXPENSESOTHER FOOD/PROGRAM

OTHER FOOD/PROGRAM $37,034 $0 $37,034 #DIV/0!TOTAL OTHER FOOD/PROGRAM $37,034 $0 $37,034 #DIV/0!

PRODUCT ACQUISITION FREIGHTPRODUCT FREIGHT $2,115 $0 $2,115 #DIV/0!

Food Bank of the Southern Tier - COVID

TOTAL PRODUCT FREIGHT $2,115 $0 $2,115 #DIV/0!

TOTAL OTHER FOOD EXPENSES $39,148 $0 $39,148 #DIV/0!

WAREHOUSE / DISTRIBUTIONVEHICLE $100 $0 $100 #DIV/0!WAREHOUSE $72 $0 $72 #DIV/0!PRODUCTION ROOM $1,120 $0 $1,120 #DIV/0!TOTAL WAREHOUSE / DISTRIBUTION $1,291 $0 $1,291 #DIV/0!

GENERAL OPERATIONSBUILDING $0 $0 $0 #DIV/0!GENERAL OFFICE $664 $0 $664 #DIV/0!TECHNOLOGY/SERVICES $101 $0 $101 #DIV/0!STAFF EXPENSES $1,169 $0 $1,169 #DIV/0!CONTRACT SERVICES $0 $0 $0 #DIV/0!TOTAL GENERAL OPERATIONS $1,935 $0 $1,935 #DIV/0!

DEVELOPMENT/PRSPECIAL EVENTS $0 $0 $0 #DIV/0!DIRECT MAIL $0 $0 $0 #DIV/0!GEN. DEVELOPMENT / PR EXPENSE $0 $0 $0 #DIV/0!TOTAL DEVELOPMENT/PR $0 $0 $0 #DIV/0!

ADVOCACY & EDUCATIONADVOCACY & EDUCATION $0 $0 $0 #DIV/0!TOTAL ADVOCACY & EDUCATION $0 $0 $0 #DIV/0!

AGENCY CAPACITY BUILDINGOPERATION SUPPORT $0 $0 $0 #DIV/0!TOTAL HPNAP OPERATION SUPPORT $0 $0 $0 #DIV/0!

TOTAL EXPENSES $121,768 $0 $121,768 #DIV/0!

NET BEFORE CAPITAL EXPENSES $478,316 $0 $478,316 #DIV/0!

CAPITAL EXPENSESCAPITAL EQUIPMENT $0 $0 $0 #DIV/0!EQUIPMENT/FURNITURE PURCHASES $0 $0 $0 #DIV/0!CAPITAL IMPROVEMENTS $0 $0 $0 #DIV/0!TOTAL CAPITAL EXPENSES $0 $0 $0 #DIV/0!

NET SPPLUS/DEFICT $478,316 $0 $478,316 #DIV/0!

Revenue (Y‐T‐D)Fundraising $1,161,932 (as of 4/17/20)

TEFAP $369,389

HPNAP $1,000,000 ???

$2,531,321

Expenses (Monthly)Wholesale Product $105,000

Personnel $10,000

Boxes $8,500

Truck Rentals $4,500

Freight‐In $4,000

Portable Restrooms $1,500

Supplies $2,000

General Operating $3,500

$139,000

Expenses (One‐Time)Vehicle $35,000

Pallet Jack $4,750

Client Advertising $40,000

Fork Truck $42,000 ???

$121,750

Notes:HPNAP = $1,000,000+ (?)

TEFAP COVID Food = $440,000

Wholesale Food Issues May Lower Monthly Burn

How Often Restock Personal Care Items ($35k/stock)

Will We Incur Further Development/PR Expenses?

food bank of the southern tier finance ......food bank of the southern tier finance committee...

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