Furniture Bank Of Central Ohio
- Assets
- $3.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 41
- Location
- Columbus, OH
- Founding
- 06/1998
- Data as of
- 12/2020
- EIN
- 31-1600869
Organization Overview
Furniture Bank Of Central Ohio is located in Columbus, OH. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2020, Furniture Bank Of Central Ohio employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Furniture Bank Of Central Ohio 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 12/2020, Furniture Bank Of Central Ohio generated $4.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FURNITURE BANK OF CENTRAL OHIO IS TO REDUCE THE IMPACT OF POVERTY BY PROVIDING FURNITURE TO CENTRAL OHIO FAMILIES AND INDIVIDUALS STRUGGLING WITH SEVERE LIFE CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FURNITURE BANK OF CENTRAL OHIO DISTRIBUTED OVER 30,000 PIECES OF FURNITURE TO OVER 2,400 LOW INCOME FAMILIES WITH THE HELP OF OVER 500 VOLUNTEERS AND OVER 8,000 FURNITURE DONORS. NUMBER OF FAMILIES SERVED AND NUMBER OF VOLUNTEERS WAS LOWER THAN AVERAGE DURING 2020 DUE TO THE IMPACT OF THE COVID PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Votaw President | Officer | 50 | $140,054 |
Jeremy Ball Vice Chair | OfficerTrustee | 2 | $0 |
Patrick Bennett Chair | OfficerTrustee | 2 | $0 |
Patricia Hicks Secretary | OfficerTrustee | 2 | $0 |
Brian Poling Treasurer | OfficerTrustee | 2 | $0 |
Steve Ayers Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,265,497 |
| Investment income | $210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,790 |
| Net Gain/Loss on Asset Sales | $3,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,514,871 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,342,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,069,639 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $144,379 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,245,785 |
| Pension plan accruals and contributions | $21,009 |
| Other employee benefits | $13,084 |
| Payroll taxes | $125,917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,694 |
| Advertising and promotion | $34,188 |
| Office expenses | $59,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $666,294 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,024 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,935 |
| Insurance | $77,258 |
| All other expenses | $0 |
| Total functional expenses | $4,014,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,422,445 |
| Savings and temporary cash investments | $26,912 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $60,024 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $392,775 |
| Prepaid expenses and deferred charges | $50,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $126,199 |
| Intangible assets | $0 |
| Other assets | $49,422 |
| Total assets | $3,688,370 |
| Accounts payable and accrued expenses | $272,176 |
| Grants payable | $0 |
| Deferred revenue | $396,981 |
| 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 | $446,953 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $313,867 |
| Total liabilities | $1,429,977 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,258,393 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Furniture Bank Of Central Ohio has recieved totaling $536,173.
| Awarding Organization | Amount |
|---|---|
Columbus Foundation Columbus, OH PURPOSE: SOCIAL SERVICES | $281,460 |
Siemer Family Foundation Columbus, OH PURPOSE: SOCIAL SERVICES | $100,000 |
Ingram-White Castle Foundation Columbus, OH PURPOSE: SOCIAL SERVICES | $45,000 |
United Way Of Central Ohio Inc Columbus, OH PURPOSE: PROGRAM OPERATING COSTS | $33,750 |
L Brands Foundation Columbus, OH PURPOSE: SOCIAL SERVICES | $25,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $24,602 |
Endowment Analysis
| Beg. Balance | $115,349 |
| Earnings | $10,850 |
| Ending Balance | $126,199 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |
Council Of Three Rivers American Indian Center Inc Pittsburgh, PA | $2,198,563 | $19,524,702 |
Training & Treatment Innovations Inc Oxford, MI | $4,219,988 | $19,202,444 |
Intercommunity Action Incorporated Philadelphia, PA | $14,614,293 | $19,901,552 |
Spectrum Community Services Inc Allentown, PA | $6,288,427 | $19,062,960 |
Prospectus Associates Inc Reading, PA | $18,973,994 | $22,583,253 |
Michigan Community Services Inc Swartz Creek, MI | $9,785,401 | $17,419,566 |
Good Family Support Services Inc Philadelphia, PA | $20,002,576 | $19,632,400 |
Buckeye Plain Ministry Group Middlefield, OH | $4,397,089 | $15,353,471 |
Typical Life Corporation York, PA | $10,082,185 | $15,549,627 |
Behavioral Healthcare Services Inc Owensboro, KY | $8,995,827 | $13,461,445 |
Centralized Comprehensive Human Services Inc Philadelphia, PA | $12,942,710 | $13,680,899 |