Akron-Caton Regional Foodbank Endowment
- Assets
- $11.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 11/1999
- Data as of
- 12/2021
- EIN
- 34-1888311
Organization Overview
Akron-Caton Regional Foodbank Endowment is located in Akron, OH. The organization was established in 1999. According to its NTEE Classification (K11) the organization is classified as: Single Organization Support, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akron-Caton Regional Foodbank Endowment 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 12/2021, Akron-Caton Regional Foodbank Endowment generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 55.7% each year . All expenses for the organization totaled $315.9k during the year ending 12/2021. While expenses have increased by 30.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND MAINTAIN FUNDS TO SUPPORT THE AKRON-CANTON REGIONAL FOODBANK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RECEIVES AND MAINTAINS FUNDS TO SUPPORT THE AKRON-CANTON REGIONAL FOODBANK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Baer Vice Chair | OfficerTrustee | 1 | $0 |
Harvey Nelson Endowment Board Chair | OfficerTrustee | 1 | $0 |
Daniel Flowers President/ceo | Officer | 1 | $0 |
David Kern Board Member | Trustee | 1 | $0 |
George Sarkis Board Member | Trustee | 1 | $0 |
William Shivers Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,256,828 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,256,828 |
| Total Program Service Revenue | $0 |
| Investment income | $30,902 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $60,000 |
| Net Gain/Loss on Asset Sales | $99,249 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,446,979 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $68,835 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $51,023 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $53,813 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,255 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $315,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,246 |
| Savings and temporary cash investments | $237,798 |
| Pledges and grants receivable | $120,000 |
| Accounts receivable, net | $6,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,300 |
| Net Land, buildings, and equipment | $7,957,394 |
| Investments—publicly traded securities | $2,834,827 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,178,565 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,859,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,859,982 |
| Net assets without donor restrictions | $1,363,247 |
| Net assets with donor restrictions | $2,955,336 |
| 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 | $11,178,565 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Akron-Caton Regional Foodbank Endowment has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Encova Foundation Of Ohio Columbus, OH PURPOSE: ANNUAL OPERATIONS | $5,000 |
Endowment Analysis
| Beg. Balance | $1,574,087 |
| Earnings | $206,270 |
| Admin Expense | $7,523 |
| Net Contributions | $1,256,828 |
| Other Expense | $68,835 |
| Ending Balance | $2,960,827 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan Foundation For Agriculture Lansing, MI | $454,773 | $4,183,313 |
Center For Dairy Excellence Foundation Of Pennsylvania Harrisburg, PA | $1,346,234 | $880,997 |
Canfield Fair Foundation Canfield, OH | $427,872 | $414,147 |
Akron-Caton Regional Foodbank Endowment Akron, OH | $11,178,565 | $1,446,979 |
Gpcfb Support Corporation Duquesne, PA | $25,873,462 | $571,104 |
Bounce Back Of Indiana Inc Fort Wayne, IN | $230,746 | $228,918 |
Mission2move Cincinnati, OH | $24,954 | $0 |
Governors One Shot Inc Clarksburg, WV | $77,173 | $0 |
Hildegarde T Pischel Endowment Fund Brooklyn, OH | $625,106 | $37,618 |