Second Harvest Food Bank of Middle Tennessee
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$75,118,496.00
Projected Expenses
$67,347,840.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| second harvest irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $88,594,384.00 | $109,378,767.00 | |
| Total Expenses | $86,050,123.00 | $91,811,916.00 | |
| Revenue Less Expenses | ($-0.00) | $2,544,261.00 | $17,566,851.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $2,387,125.00 | $42,372,787.00 | |
| Contributions, Gifts, and Grants | $17,595,658.00 | $20,599,913.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $4,947,106.00 | $7,655,805.00 | |
| Investment Income, Net of Losses | $-3,695,919.00 | $844,463.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $345,772.00 | $395,395.00 | |
| Revenue In-Kind | $66,788,263.00 | $37,032,696.00 | |
| Other | $226,379.00 | $477,708.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $81,343,072.00 | $87,197,586.00 | |
| Administration Expense | $1,292,115.00 | $1,429,000.00 | |
| Fundraising Expense | $3,414,936.00 | $3,185,330.00 | |
| Total Revenue/Total Expenses | 103% | 119% | |
| Program Expense/Total Expenses | 95% | 95% | |
| Fundraising Expense/Contributed Revenue | 4% | 3% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Noncash Contributions $66,788,263.00 | Government Grants $42,372,787.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $17,595,658.00 | Noncash Contributions $37,032,696.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Program Revenue $4,947,106.00 | Contributions, Gifts, and Grants $20,599,913.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $63,545,616.00 | $62,610,580.00 | |
| Current Assets | $18,764,877.00 | $21,347,225.00 | |
| Long-Term Liabilities | $2,654,057.00 | $2,698,300.00 | |
| Current Liabilities | $5,095,062.00 | $6,660,044.00 | |
| Total Net Assets | $55,796,497.00 | $53,252,236.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Our area's strong construction and hospitality sectors bring many low wage earners to Middle Tennessee. We have also seen an unprecedented inflow of immigrants who need help through an adjustment period. Finally, many long-time Tennesseans dropped out of the job market through the difficult years of the past decade, and now many are entering retirement years without adequate income. We are here for all of those people, including their children who suffer ill health and poor school grades because of a lack of good nutrition. In response, we work hard each day to make the most of every dollar. Ninety-six cents of every donated dollar goes directly to feed hungry people. Note: Annual budget revenue and expense amounts may differ significantly from year-end actual totals. This is because the annual financial reports adds the value of donated food to both revenue and expense. |
Foundation Staff Comments
| Financial figures taken primarily from audit, with additional information from the 990. Any foundation or corporate contributions are included in Contributions, Gifts, and Grants sum, as the figures are not listed separately in Form 990. Financial documents completed by Kraft CPAs, PLLC. Comments provided by Nicole Rose 03/08/2023. |
