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Nonprofiteer
← AKRON-CATON REGIONAL FOODBANK ENDOWMENT

Form 990 for tax year 2022

Filed by AKRON-CATON REGIONAL FOODBANK ENDOWMENT.

Totals

Total revenue
$32,531
Total expenses
$493,454
Contributions and grants received
$5,115
Grants paid
$99,915
Program service revenue
$0
Investment income
-$52,584
Other revenue
$80,000
Total assets, end of year
$10,310,727
Total liabilities, end of year
$6,876,482
Net assets or fund balances, end of year
$3,434,245
Program services expenses (Part IX)
$366,225
Management and general expenses
$127,229
Fundraising expenses
$0
Program service expenses (Part III)
$366,225

Program services were 74.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $5,115

  • 3 · Investment income

    total $85,977 · excluded $85,977

  • 6a · Gross rents

    real property $80,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $80,000

  • 6d · Net rental income or loss

    total $80,000 · related or exempt $80,000

  • 7a · Gross sales of assets other than inventory

    securities $810,558

  • 7b · Less cost or other basis and sales expenses

    securities $949,119

  • 7c · Gain or loss

    securities -$138,561

  • 7d · Net gain or loss

    total -$138,561 · excluded -$138,561

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $99,915 · program services $99,915

  • 11f · Fees: investment management

    total $55,479 · management and general $55,479

  • 20 · Interest

    total $71,750 · management and general $71,750

  • 22 · Depreciation, depletion and amortization

    total $266,310 · program services $266,310

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,246 · end of year $15,496

  • 2 · Savings and temporary cash investments

    beginning of year $237,798 · end of year $194,298

  • 3 · Pledges and grants receivable

    beginning of year $120,000 · end of year $80,000

  • 4 · Accounts receivable

    beginning of year $6,000 · end of year $5,020

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,300 · end of year $13,600

  • 10a · Land, buildings and equipment: cost or other basis

    $8,081,449

  • 10b · Land, buildings and equipment: accumulated depreciation

    $372,165

  • 10c · Land, buildings and equipment, net

    beginning of year $7,957,394 · end of year $7,709,284

  • 11 · Investments: publicly traded securities

    beginning of year $2,834,827 · end of year $2,293,029

  • 23 · Secured mortgages and notes payable

    beginning of year $6,859,982 · end of year $6,876,482

  • 27 · Net assets without donor restrictions

    beginning of year $1,363,247 · end of year $1,056,196

  • 28 · Net assets with donor restrictions

    beginning of year $2,955,336 · end of year $2,378,049

Mission and programs · 2022

Mission

TO RECEIVE AND MAINTAIN FUNDS IN ORDER TO ENSURE THE FUTURE OF THE AKRON-CANTON REGIONAL FOODBANK.

Activities or mission (Part I)

TO RECEIVE AND MAINTAIN FUNDS TO SUPPORT THE AKRON-CANTON REGIONAL FOODBANK.

  • TO RECEIVE AND MAINTAIN FUNDS IN ORDER TO INSURE THE FUTURE OF THE AKRON-CANTON REGIONAL FOODBANK

    Expenses $366,225 · Grants $99,915 · Revenue $80,000

As filed on the 2022 return.

Listed in Part VII

  • Mark Baer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Harvey Nelson

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Gary Benz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William Shivers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Kern

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vivian Leggett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terry Link

    OPERATING BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • George Sarkis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Flowers

    PRESIDENT/CEO

    Total calculated
    $284,449
    From this org
    $0
    From related orgs
    $259,880
    Other
    $24,569
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,480 related
    Bonus
    $0 + $65,000 related
    Other
    $0 + $5,400 related
    Deferred
    $0 + $7,872 related
    Nontaxable benefits
    $0 + $16,697 related
    Filer's total
    $0 + $284,449 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE CEO'S COMPENSATION FROM THE AKRON-CANTON REGIONAL FOODBANK IS BASED ON AN ANNUAL REVIEW AT THE LAST BOARD MEETING OF THE FISCAL YEAR. THIS REVIEW TAKES INTO ACCOUNT SALARY DATA PROVIDED BY A 3RD PARTY INDEPENDENT COMPENSATION CONSULTANT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 1365 CHERRY LLC

    REAL ESTATE · OH · income $80,000 · assets $7,932,678

    Directly controlled by AKRON-CANTON REGIONAL FOODBANK ENDOWMENT

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333119349304018

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