Food Bank Of Lower Fairfield County Inc
- Assets
- $8.4m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Stamford, CT
- Founding
- 10/2003
- Data as of
- 06/2023
- EIN
- 02-0684220
Organization Overview
Food Bank Of Lower Fairfield County Inc is located in Stamford, CT. The organization was established in 2003. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2023, Food Bank Of Lower Fairfield County Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Bank Of Lower Fairfield County Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Food Bank Of Lower Fairfield County Inc generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOOD BANK'S MISSION IS TO PROVIDE NUTRITIOUS FOOD TO NON-PROFIT ORG. THAT FEED THE HUNGRY IN DARIEN, GREENWICH, NEW CANAAN, NORWALK, STAMFORD & WILTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOOD BANK RECEIVES CONTRIBUTIONS FROM PRIVATE AND GOVERNMENT SOURCES AND MAKES FOOD READILY ACCESSIBLE TO APPROXIMATELY 70 MEMBER AGENCIES AND PROGRAMS WHICH FEED THOUSANDS OF PEOPLE IN LOWER FAIRFIELD COUNTY.
THE FOOD BANK HAS AN ONGOING PROGRAM TO MAINTAIN PUBLIC AWARENESS OF THE HUNGER IN LOWER FAIRFIELD COUNTY AS PART OF ITS PRIMARY MISSION. IN PART, THIS AWARENESS AND EDUCATION IS ACHIEVED THROUGH PRESENTATIONS TO SCHOOLS AND SERVICE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Lombardo Exec.director | OfficerTrustee | 40 | $105,000 |
Hiroshi Nakajima Acting President And Director | OfficerTrustee | 1 | $0 |
Mark Diamond Director | Trustee | 1 | $0 |
George Habrecht Director | Trustee | 1 | $0 |
Thomas Berta Treasurer & Director | OfficerTrustee | 1 | $0 |
Martin Cohen Assist Exec Dir & Corp Secty | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,550 |
| Related organizations | $0 |
| Government grants | $26,424 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,121,998 |
| Noncash contributions included in lines 1a–1f | $1,600,944 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,149,972 |
| Total Program Service Revenue | $39,105 |
| Investment income | $90,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,286,585 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,000 |
| Compensation of current officers, directors, key employees. | $26,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $428,730 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $46,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,538 |
| Advertising and promotion | $0 |
| Office expenses | $4,005 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,604 |
| Insurance | $77,635 |
| All other expenses | $106,159 |
| Total functional expenses | $2,769,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,323 |
| Savings and temporary cash investments | $6,190,227 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,334 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $104,621 |
| Prepaid expenses and deferred charges | $75,716 |
| Net Land, buildings, and equipment | $1,917,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,435,511 |
| Accounts payable and accrued expenses | $32,756 |
| Grants payable | $0 |
| Deferred revenue | $31,814 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $64,570 |
| Net assets without donor restrictions | $8,370,941 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,435,511 |