Soddy Daisy Food Bank Inc
- Assets
- $430.2k
- Revenue
- $852.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Soddy Daisy, TN
- Founding
- 08/2012
- Data as of
- 12/2023
- EIN
- 45-4722601
Organization Overview
Soddy Daisy Food Bank Inc is located in Soddy Daisy, TN. The organization was established in 2012. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soddy Daisy Food Bank 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 12/2023, Soddy Daisy Food Bank Inc generated $852.6k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $837.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 9 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
ALL VOLUNTEER ORGANIZATION FOCUSED ON GATHERING AND SHARING FOOD WITH FAMILIES AND INDIVIDUALS IN NEED. WE ARE COMMITTED TO THE PREMISE THAT ALL PERSONS HAVE A RIGHT TO ADEQUATE NUTRITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTED OVER 375,000 POUNDS OF FOOD TO NEEDY FAMILIES IN THE SODDY DAISY SERVICE AREA, VALUED AT MORE THAN $717,000. ALSO DISTRIBUTED, BUT NOT INCLUDED IN THE 375,000 POUNDS, IS AN ADDITIONAL $6,065 OF PURCHASED FOOD AND $7,150 OF FOOD OBTAINED VIA DONATED GIFT CARDS (NOT VALUED PER POUND).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Haynes Director | Trustee | 0 | $0 |
Alan C Gram Vice President | OfficerTrustee | 0 | $0 |
Sandra Hubbs Director Of Food Pick Up A | Trustee | 0 | $0 |
Missy S Mcdonald Community Support Coordina | Trustee | 0 | $0 |
Frank L Mulkey Director | Trustee | 0 | $0 |
Clyde R Woodall Director Of Operations | Trustee | 0 | $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 | $846,198 |
| Noncash contributions included in lines 1a–1f | $712,479 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $846,198 |
| Total Program Service Revenue | $0 |
| Investment income | $6,355 |
| 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 | $852,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $782,396 |
| 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 | $8,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $500 |
| Fees for services: Other | $3,230 |
| Advertising and promotion | $572 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,200 |
| 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 | $5,784 |
| Insurance | $3,582 |
| All other expenses | $0 |
| Total functional expenses | $837,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $14,849 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $53,071 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $18,756 |
| Investments—publicly traded securities | $106,008 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,062 |
| Total assets | $430,153 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,062 |
| Total liabilities | $42,062 |
| Net assets without donor restrictions | $388,091 |
| 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 | $430,153 |