Food Bank Support Corporation
- Assets
- $24.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Hatfield, MA
- Founding
- Data as of
- 09/2022
- EIN
- 87-1266329
Organization Overview
Food Bank Support Corporation is located in Hatfield, MA. 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. Food Bank Support Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS, SUPPORT THE FUNCTIONS OF,& CARRY OUT THE PURPOSES OF THE FOOD BANK OF WESTERN MA
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD BANK SUPPORT CORPORATION HAS UNDERTAKEN CONSTRUCTION OF A 63,000 SQUARE FOOT HEADQUARTERS BUILDING WITH A WAREHOUSE, TRAINING AND SUPPORT SPACE IN CHICOPEE, MASSACHUSETTS. ONCE COMPLETED THE BUILDING WILL BE OCCUPIED BY THE FOODBANK OF WESTERN MASSACHUSETTS, ITS SUPPORTED ORGANIZATION. DURING FYE 9/30/22, THE FOOD BANK SUPPORT CORPORATION FINALIZED FINANCING OF THE PROJECT THROUGH A NEW MARKET TAX CREDIT DEAL STRUCTURE. IN MARCH 2022, IT RECEIVED A LAND CONTRIBUTION FROM FOOD BANK OF WESTERN MASSACHUSETTS ALONG WITH PREDEVELOPMENT ASSETS. BUILDING CONSTRUCTION COMMENCED IN FYE 9/30/22 BUT HAS NOT BEEN COMPLETED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Stelzer President | OfficerTrustee | 0.5 | $0 |
Andrew Crystal Treasurer | OfficerTrustee | 0.5 | $0 |
Cynthia Simison Clerk | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,232,740 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $1,232,740 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,232,740 |
| Total Program Service Revenue | $0 |
| Investment income | $10,499 |
| 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 | $1,243,239 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $802,616 |
| Savings and temporary cash investments | $16,190,256 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $450,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $165,147 |
| Other assets | $6,982,104 |
| Total assets | $24,590,123 |
| Accounts payable and accrued expenses | $1,642,765 |
| 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 | $20,440,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,264,119 |
| Total liabilities | $23,346,884 |
| Net assets without donor restrictions | $1,243,239 |
| 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 | $24,590,123 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Food Bank Support Corporation has recieved totaling $1,232,740.
| Awarding Organization | Amount |
|---|---|
The Food Bank Of Western Massachusetts Inc Hatfield, MA PURPOSE: SUPPORT FOR NEW FACILITY BEING BUILT | $1,232,740 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seneca Foods Foundation Fairport, NY | $9,067,696 | $1,000,000 |
Ttees Uw Lotta M Crabtree Lotta Agricultural Fund Boston, MA | $2,386,342 | $387,885 |
Alter & Yitu Klein Simcha Fund Inc New City, NY | $10,996 | $0 |
North Shore Moving Market Inc Salem, MA | $22,927 | $0 |
Served Inc Stoughton, MA | $80,540 | $0 |
Essex North Shore Agricultural Technical Foundation Inc Beverly, MA | $358,221 | $356,147 |
Food Bank Support Corporation Hatfield, MA | $24,590,123 | $1,243,239 |
Food For Thought Endowment Fund Inc Albany, NY | $0 | $0 |