Freestore-Foodbank Inc
- Assets
- $75.6m
- Revenue
- $74.3m
- Investments
- $255.8k
- Employees
- 147
- Location
- Cincinnati, OH
- Founding
- 12/1971
- Data as of
- 06/2023
- EIN
- 23-7122205
Organization Overview
Freestore-Foodbank Inc is located in Cincinnati, OH. The organization was established in 1971. 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, Freestore-Foodbank Inc employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freestore-Foodbank 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, Freestore-Foodbank Inc generated $74.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $70.5m during the year ending 06/2023. While expenses have increased by 2.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Freestore-Foodbank Inc has awarded 71 individual grants totaling $26,190,800. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE LIVES BY ELIMINATING HUNGER IN PARTNERSHIP WITH OUR COMMUNITY.
Describe the Organization's Program Activity:
FREESTORE FOODBANK HAS SERVED OUR NEIGHBORS IN NEED FOR 52 YEARS, STARTING IN CINCINNATI, OHIO AND EXPANDING TO A 20-COUNTY REGION IN OHIO, KENTUCKY AND INDIANA. THE MISSION OF FREESTORE FOODBANK IS TO IMPROVE LIVES BY ELIMINATING HUNGER IN PARTNERSHIP WITH OUR COMMUNITY. OUR VISION IS A HUNGER-FREE, HEALTHY, AND THRIVING COMMUNITY. TO ACHIEVE THIS VISION, OUR OBJECTIVES ARE TO PROVIDE NUTRITIOUS FOOD, CONNECT FAMILIES TO SUPPORTIVE SERVICES AND ENSURE HOPE THROUGH PATHWAYS FROM CRISIS TO STABILITY INCLUDING PROGRAMS FOR LONG-TERM STABILITY AND WORKFORCE DEVELOPMENT. THE MAJORITY OF THE ORGANIZATION'S REVENUE COMES FROM FOOD AND PRODUCT DONATIONS (NON-CASH CONTRIBUTIONS). FINANCIAL CONTRIBUTIONS ARE OBTAINED TO SUPPORT OUR PROGRAMS AND SERVICES WITH THE GOAL OF ELIMINATING FOOD INSECURITY IN OUR REGION. FREESTORE FOODBANK SUPPLIED 38 MILLION MEALS IN THE 2023 FISCAL YEAR, HELPING TO SERVE THE 200,000 FOOD INSECURE INDIVIDUALS IN OUR REGION (ACCORDING TO FEEDING AMERICA'S MAP THE MEAL GAP). A TRUSTED NETWORK OF MORE THAN 540 COMMUNITY PARTNERS HELPS FREESTORE FOODBANK TO DISTRIBUTE EMERGENCY FOOD AND OTHER SOCIAL SERVICES. MEMBER AGENCIES INCLUDE: SOUP KITCHENS, SHELTERS, FOOD PANTRIES, CHURCHES, DAYCARE CENTERS, SENIOR CENTERS, SCHOOL PROGRAM SITES AND OTHER COMMUNITY AND SOCIAL SERVICE ORGANIZATIONS. TOGETHER, WE CAN SOLVE HUNGER!
LOCATED IN CINCINNATI'S OVER-THE-RHINE, FREESTORE FOODBANK'S CUSTOMER CONNECTION CENTER AND LIBERTY STREET MARKET MEETS THE NEEDS OF OUR COMMUNITY'S MOST VULNERABLE NEIGHBORS, INCLUDING THOSE WHO ARE HOMELESS OR UNEMPLOYED, AS WELL AS THE WORKING POOR AND FAMILIES IN CRISIS. EMERGENCY FOOD ASSISTANCE, SERVING OVER 37,000 CLIENTS ANNUALLY WAS DISTRIBUTED FROM THE LIBERTY STREET MARKET DURING THE 2023 FISCAL YEAR, HELPING TO FEED LOCAL FAMILIES IN NEED. FREESTORE FOODBANK WORKS DAILY TO ADDRESS NOT ONLY THE ISSUE OF HUNGER, BUT ALSO OFFERS SERVICES AIMED AT CREATING STABILITY AND SELF-SUFFICIENCY IN THE AREAS OF HOUSING, TRANSPORTATION, CLOTHING, BENEFITS ENROLLMENT, FINANCIAL MANAGEMENT AND JOB ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Warren Weber Immediate Past Board Chair | OfficerTrustee | 1 | $0 |
Marty Dunn Board Chair | OfficerTrustee | 1 | $0 |
Damon Allen Vice Chair, Development | OfficerTrustee | 1 | $0 |
Sue Baggott Vice Chair, Governance & Trusteeship | OfficerTrustee | 1 | $0 |
Mike Haught Board Treasurer | OfficerTrustee | 1 | $0 |
Dwinelva Zackery Board Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Truesense Marketing Consulting/direct Mail | 6/29/23 | $826,109 |
Paul Hemmer Company Consulting | 6/29/23 | $388,860 |
Great American Merchandise & Events (Gam Rent | 6/29/23 | $140,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $353,105 |
| Membership dues | $0 |
| Fundraising events | $539,300 |
| Related organizations | $5,281,646 |
| Government grants | $10,888,140 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,677,375 |
| Noncash contributions included in lines 1a–1f | $48,398,171 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,739,566 |
| Total Program Service Revenue | $3,966,239 |
| Investment income | $349,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,241 |
| Net Income from Fundraising Events | $225,035 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $74,253,901 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,753,490 |
| 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. | $1,088,495 |
| Compensation of current officers, directors, key employees. | $402,937 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,302,533 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,779,690 |
| Payroll taxes | $678,837 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,596 |
| Fees for services: Accounting | $55,032 |
| Fees for services: Lobbying | $1,500 |
| Fees for services: Fundraising | $826,109 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $485,927 |
| Advertising and promotion | $153,092 |
| Office expenses | $170,676 |
| Information technology | $395,944 |
| Royalties | $0 |
| Occupancy | $1,575,403 |
| Travel | $163,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $482,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $384,260 |
| Insurance | $66,696 |
| All other expenses | $681,989 |
| Total functional expenses | $70,533,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,595 |
| Savings and temporary cash investments | $15,076,983 |
| Pledges and grants receivable | $5,291,286 |
| Accounts receivable, net | $1,324,850 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,336,624 |
| Prepaid expenses and deferred charges | $334,433 |
| Net Land, buildings, and equipment | $34,923,989 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $255,839 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,979,461 |
| Total assets | $75,560,060 |
| Accounts payable and accrued expenses | $3,612,293 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,202,840 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $24,123,018 |
| Other liabilities | $14,115,367 |
| Total liabilities | $43,053,518 |
| Net assets without donor restrictions | $25,526,545 |
| Net assets with donor restrictions | $6,979,997 |
| 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 | $75,560,060 |
Grants Awarded
Over the last fiscal year, Freestore-Foodbank Inc has awarded $1,753,490 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CHURCH 180 PURPOSE: BUILD CAPACITY TO DISTRIBUTE FOOD | $52,599 |
DEARBORN CO CLEARINGHOUSE FOR EMERGENCY AID PURPOSE: BUILD CAPACITY TO DISTRIBUTE FOOD | $5,609 |
FREESTORE FOODBANK FOUNDATION PURPOSE: GENERAL SUPPORT | $1,630,000 |
HIGHLAND AVENUE BAPTIST CHURCH PURPOSE: BUILD CAPACITY TO DISTRIBUTE FOOD | $9,466 |
INTER PARISH MINISTRY PURPOSE: BUILD CAPACITY TO DISTRIBUTE FOOD | $7,565 |
MAY'S LICK BAPTIST CHURCH DBA JEHOVAH-JIREH HOUSE PURPOSE: BUILD CAPACITY TO DISTRIBUTE FOOD | $7,161 |