Channel One Inc
- Assets
- $10.9m
- Revenue
- $23.9m
- Investments
- $10.5k
- Employees
- 41
- Location
- Rochester, MN
- Founding
- 06/1983
- Data as of
- 06/2021
- EIN
- 41-1379713
Organization Overview
Channel One Inc is located in Rochester, MN. The organization was established in 1983. 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 06/2021, Channel One Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Channel One 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 06/2021, Channel One Inc generated $23.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $22.1m during the year ending 06/2021. While expenses have increased by 5.2% per year over the past 6 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 2021, Channel One Inc has awarded 73 individual grants totaling $6,676,767. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHANNEL ONE STRENGTHENS FOOD ACCESS AND BUILDS HEALTHY COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHANNEL ONE FOOD BANK: PROVIDES FOOD AND NONFOOD PRODUCT TO APPROXIMATELY 183 PROGRAMS PROVIDED BY APPROXIMATELY 110 NONPROFIT 501(C) (3) AGENCIES THAT FEED PEOPLE AS PART OF THEIR PROGRAM SERVICES MISSION. THE FOOD BANK PROGRAM SOLICITS, WAREHOUSES, REWORKS/REPACKAGES, AND DISTRIBUTES DONATED SURPLUS AND IRREGULAR FOOD AND NONFOOD PRODUCT ITEMS, GOVERNMENT COMMODITIES FROM THE EMERGENCY FOOD ASSISTANCE PROGRAM (TEFAP), AND COOPERATIVELY PURCHASED ITEMS.
COMMODITY SUPPLEMENTAL FOOD PROGRAM: NUTRITION ASSISTANCE PROGRAM FOR SENIORS (NAPS) PROVIDES NUTRITIONALLY BALANCED, SUPPLEMENTAL FEDERAL GOVERNMENT COMMODITY FOOD PACKAGES TO INCOME-ELIGIBLE SENIOR CITIZENS ON A MONTHLY BASIS. CHANNEL ONE DISTRIBUTES THIS PROGRAM THROUGHOUT THE 13 COUNTY SERVICE AREA IN MINNESOTA. IN TOTAL, CHANNEL ONE DISTRIBUTED 11,943 AND 13,525 PACKAGES FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, RESPECTIVELY.
SUPPLEMENTAL FOOD SHELF: PROVIDES A MONTHLY DISTRIBUTION OF FOOD AND NONFOOD ITEMS, INCLUDING GOVERNMENT SURPLUS COMMODITIES, IS AVAILABLE TO LOWINCOME OLMSTED COUNTY RESIDENTS. ELIGIBLE PARTICIPANTS SELECT A FIVE-DAY SUPPLY OF FOOD ITEMS IN A GROCERY STORELIKE SETTING ONE TIME EACH MONTH. APPROXIMATELY 5,444 AND 6,922 HOUSEHOLDS WERE REGISTERED TO PARTICIPATE IN MONTHLY DISTRIBUTIONS FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, RESPECTIVELY. IN TOTAL, THERE WERE 30,305 AND 40,181 HOUSEHOLD VISITS TO THE FOOD SHELF FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia Merritt Executive Director | Officer | 40 | $93,755 |
Linda Lovik Assitant Director | Officer | 40 | $78,813 |
Matt Decook Finance Director | Officer | 40 | $50,002 |
Holden Lewis Board Vice Chair | OfficerTrustee | 0.51 | $0 |
Chad Decook Board Chair | OfficerTrustee | 0.43 | $0 |
Chris Rock Board Chair/vice Chair | OfficerTrustee | 0.38 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $163,068 |
| Membership dues | $0 |
| Fundraising events | $69,336 |
| Related organizations | $0 |
| Government grants | $2,113,284 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,036,153 |
| Noncash contributions included in lines 1a–1f | $14,795,377 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,381,841 |
| Total Program Service Revenue | $507,879 |
| Investment income | $4,703 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$176 |
| Net Income from Fundraising Events | -$1,862 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $770 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,904,084 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,276,643 |
| Grants and other assistance to domestic individuals. | $6,623,374 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $208,638 |
| Compensation of current officers, directors, key employees. | $35,469 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,164,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $216,804 |
| Payroll taxes | $96,755 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,455 |
| Fees for services: Accounting | $29,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $233,686 |
| Advertising and promotion | $6,784 |
| Office expenses | $353,766 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,578 |
| 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 | $282,468 |
| Insurance | $26,995 |
| All other expenses | $11,614 |
| Total functional expenses | $22,057,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,271,140 |
| Savings and temporary cash investments | $298,801 |
| Pledges and grants receivable | $126,034 |
| Accounts receivable, net | $160,648 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,323,531 |
| Prepaid expenses and deferred charges | $46,703 |
| Net Land, buildings, and equipment | $3,045,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,505 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $617,805 |
| Total assets | $10,900,527 |
| Accounts payable and accrued expenses | $311,852 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $311,852 |
| Net assets without donor restrictions | $9,655,954 |
| Net assets with donor restrictions | $932,721 |
| 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 | $10,900,527 |
Grants Awarded
Over the last fiscal year, Channel One Inc has awarded $6,676,767 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
La Crosse, WI PURPOSE: FOOD DISTRIBUTION | $1,020,114 |
Northfield, MN PURPOSE: FOOD DISTRIBUTION | $766,222 |
Owatonna, MN PURPOSE: FOOD DISTRIBUTION | $737,010 |
Waseca, MN PURPOSE: FOOD DISTRIBUTION | $677,374 |
Rushford, MN PURPOSE: FOOD DISTRIBUTION | $428,303 |
Winona, MN PURPOSE: FOOD DISTRIBUTION | $402,438 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Channel One Inc has recieved totaling $794,534.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $149,552 |
Mayo Clinic Rochester, MN PURPOSE: SUPPORT CHARITABLE PURPOSE | $142,175 |
Feeding Wisconsin Inc Madison, WI PURPOSE: FOODSHARE OUTREACH EXPENSES | $140,094 |
Rochester Area Foundation Rochester, MN PURPOSE: PROGRAM SUPPORT | $115,500 |
United Way Of Olmsted County Inc Rochester, MN PURPOSE: PROGRAM AWARD AND DESIGNATIONS | $89,360 |
Hunger Solutions Minnesota St Paul, MN PURPOSE: HUNGER RELIEF | $56,901 |
Endowment Analysis
| Beg. Balance | $10,000 |
| Ending Balance | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Second Harvest Foodbank Of Southern Wisconsin Madison, WI | $26,296,276 | $43,990,829 |
River Bend Food Reservoir Davenport, IA | $24,095,771 | $42,604,149 |
Great Plains Food Bank Fargo, ND | $16,072,644 | $44,237,483 |
Food Bank Of Iowa Des Moines, IA | $30,639,112 | $46,724,130 |
Feeding South Dakota Sioux Falls, SD | $24,678,313 | $28,354,516 |
Channel One Inc Rochester, MN | $10,900,527 | $23,904,084 |
Northeast Iowa Food Bank Inc Waterloo, IA | $13,006,987 | $17,224,102 |
The Food Group Minnesota Inc New Hope, MN | $6,821,261 | $14,957,380 |
Second Harvest North Central Food Bank Inc Grand Rapids, MN | $4,978,294 | $11,898,743 |
North Country Food Bank Inc East Grand Forks, MN | $6,467,483 | $10,779,461 |
River Food Pantry Madison, WI | $3,265,959 | $11,088,833 |
Pauls Pantry Inc Green Bay, WI | $11,786,788 | $9,425,789 |