2025 financial statement
COMMUNITY SUPPORT AND IMPACT
This year, thanks to the incredible generosity of our community, we were able to distribute 143 million meals to our neighbors. This achievement was made possible by the remarkable $43.2 million in community donations and $193 million in in-kind product contributions.
RESPONSIBLE RESOURCE MANAGEMENT
We are committed to transparency and efficiency. In this fiscal year, 91.6% of our total expenses were dedicated directly to programs, ensuring that we remain focused on fulfilling our mission. Management and general expenses accounted for 4.3%, while fundraising expenses represented 4.1%.
FINANCIAL STEWARDSHIP
Our cash, cash equivalents, and investment decreased by $2 million year over year. This strategic reduction reflects our commitment to utilizing available resources to address the immediate needs of our community.
The organization experienced a $10.4 million decrease in net assets. This change was largely attributed to spending down of resources to bolster food in the community ($5.6 million) and less inventory ($2.6 million). As we continue to invest in our mission, we are proactively planning for the future to ensure the sustainability of our services.
10/1/2024 – 9/30/2025
| Revenue | FY2025 | FY2024 | % Change |
|---|---|---|---|
| Food Donations, In Kind | $192,961,416 | $216,020,002 | -10.7% |
| Contributions | $43,242,070 | $58,206,707 | -25.7% |
| Program Services | $28,931,501 | $27,715,422 | 4.4% |
| Government Contracts | $9,407,607 | $5,469,249 | 72.0% |
| Other Revenue | $5,106,066 | $8,575,691 | -40.5% |
| Total Revenue | $279,638,660 | $315,987,071 | -11.5% |
| Program Expenses | FY2025 | FY2024 | % Change |
|---|---|---|---|
| Food Distributed, In Kind | $195,706,306 | $213,447,251 | -8.3% |
| Programs | $70,035,962 | $65,188,319 | 7.4% |
| Fundraising Expenses | $11,869,899 | $11,728,577 | 1.2% |
| Administrative Expenses | $12,401,500 | $10,888,187 | 13.9% |
| Total Functional Expenses | $290,013,667 | $301,252,334 | -3.7% |
| Net Excess (or Deficit) | $(10,375,007) | $14,734,737 |
| Assets | FY2025 | FY2024 | % Change |
|---|---|---|---|
| Current Assets: | |||
| Cash and Cash Equivalents | $9,633,533 | $9,294,682 | 3.6% |
| Investments | $17,125,322 | $20,499,304 | -16.5% |
| Accounts Receivable: | |||
| Trade | $2,075,956 | $2,396,718 | -13.4% |
| Grants | $1,607,571 | $1,807,006 | -11.0% |
| Other | $3,583,574 | $4,481,400 | -20.0% |
| Inventory | $7,261,565 | $9,886,135 | -26.5% |
| Prepaid Expenses | $1,049,431 | $1,000,224 | 4.9% |
| Total Current Assets | $42,336,952 | $49,365,469 | -14.2% |
| Land, Buildings, and Equipment Net | $37,272,285 | $38,071,271 | -2.1% |
| Endowment | $26,368,440 | $25,382,518 | 3.9% |
| Long-Term Investments | 0.0% | ||
| Other Assets | $7,624,893 | $10,307,584 | -26.0% |
| Total Assets | $113,602,570 | $123,126,842 | -7.7% |
| Liabilities and Net Assets | FY2025 | FY2024 | % Change |
|---|---|---|---|
| Current Liabilities: | |||
| Accounts Payable | $1,999,278 | $2,126,121 | -6.0% |
| Current Maturities of Long-Term Debt | $545,168 | $570,935 | -4.5% |
| Accrued Expenses | $3,387,466 | $2,492,474 | 35.9% |
| Total Current Liabilities | $5,931,912 | $5,189,530 | 14.3% |
| Long Term Debt, Net of Current Portion | $4,936,797 | $4,828,444 | 2.2% |
| Total Liabilities | $10,868,709 | $10,017,974 | 8.5% |
| Net Assets: | |||
| Unrestricted: | |||
| Operations | $83,023,253 | $86,829,202 | -4.4% |
| In Kind | $3,740,138 | $6,411,709 | -41.7% |
| $86,763,391 | $93,240,911 | -6.9% | |
| Temporarily Restricted | $15,970,470 | $19,867,957 | -19.6% |
| Total Net Assets | $102,733,861 | $113,108,868 | -9.2% |
| Total Liabilities and Net Assets | $113,602,570 | $123,126,842 | -7.7% |
| Program Expense: | 91.6% | 92.5% | |
| General & Administration Expense: | 4.3% | 3.6% | |
| Fundraising Expense: | 4.1% | 3.9% |
