Mid-South Food Bank
- Assets
- $44.1m
- Revenue
- $120.1m
- Investments
- $5.3m
- Employees
- 127
- Location
- Memphis, TN
- Founding
- 12/1988
- Data as of
- 06/2021
- EIN
- 62-1340755
Organization Overview
Mid-South Food Bank is located in Memphis, TN. The organization was established in 1988. 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. As of 06/2021, Mid-South Food Bank employed 127 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-South Food Bank 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 06/2021, Mid-South Food Bank generated $120.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.4% each year . All expenses for the organization totaled $104.3m during the year ending 06/2021. While expenses have increased by 26.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COLLECTION & DISTRIBUTION OF FOOD TO CHARITABLE ORGANIZATIONS SERVING THOSE IN NEED.
Describe the Organization's Program Activity:
DISTRIBUTION OF FOOD AND NON-GROCERY ITEMS TO NON-PROFIT AGENCIES THAT SERVE THE ILL, NEEDY, CHILDREN AND INFANTS. FROM JULY 2020 TO JUNE 2021, THE FOOD BANK DISTRIBUTED APPROXIMATELY 57.2 MILLION POUNDS OF FOOD AND NON-GROCERY ITEMS TO APPROXIMATELY 283 CHARITABLE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy T Pope President & CEO | Officer | 40 | $164,044 |
Scott F Fortin Chief Operating Officer | 40 | $109,898 | |
Peter Pettit Chief Development Officer | 40 | $101,638 | |
Michael D Whitten Chief Financial Officer | Officer | 40 | $91,947 |
Brooke Balducci Treasurer | OfficerTrustee | 1 | $0 |
Rick James Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Summit Truck Group Logistics | 6/29/20 | $296,090 |
Summit Lease & Rental Logistics | 6/29/20 | $180,756 |
Summit Truck Group Logistics | 6/29/20 | $296,090 |
Summit Lease & Rental Logistics | 6/29/20 | $180,756 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,743,373 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,550,914 |
| Noncash contributions included in lines 1a–1f | $96,500,240 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,294,287 |
| Total Program Service Revenue | $121,137 |
| Investment income | $227,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $167,010 |
| Net Gain/Loss on Asset Sales | $267,141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,096,219 |
| 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. | $260,087 |
| Compensation of current officers, directors, key employees. | $260,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,319,055 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $706,025 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $393 |
| Fees for services: Accounting | $100,279 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,409 |
| Fees for services: Other | $882,251 |
| Advertising and promotion | $0 |
| Office expenses | $160,827 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $751,031 |
| Travel | $34,637 |
| 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 | $259,481 |
| Insurance | $169,150 |
| All other expenses | $594,797 |
| Total functional expenses | $104,292,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,815,889 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,657,190 |
| Accounts receivable, net | $61,369 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,450,400 |
| Inventories for sale or use | $5,603,487 |
| Prepaid expenses and deferred charges | $364,687 |
| Net Land, buildings, and equipment | $1,820,691 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,336,125 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,109,838 |
| Accounts payable and accrued expenses | $458,002 |
| 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 | $686,375 |
| Other liabilities | $15,000 |
| Total liabilities | $1,159,377 |
| Net assets without donor restrictions | $36,481,759 |
| Net assets with donor restrictions | $6,468,702 |
| 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 | $44,109,838 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mid-South Food Bank has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Charles H Boyle Fon Inc Memphis, TN PURPOSE: TO FURTHER DONEE'S 501(C)(3) PURPOSES | $50,000 |
Endowment Analysis
| Beg. Balance | $3,343,165 |
| Earnings | $1,098,195 |
| Net Contributions | $1,000,765 |
| Other Expense | $106,000 |
| Ending Balance | $5,336,125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Community Food Bank Inc Atlanta, GA | $52,336,237 | $194,337,596 |
Food Bank Of Central & Eastern North Carolina Inc Raleigh, NC | $91,235,516 | $216,066,903 |
Second Harvest Food Bank Of Metrolina Inc Charlotte, NC | $47,121,314 | $149,989,370 |
St Louis Area Food Bank Inc Bridgeton, MO | $42,018,188 | $114,234,438 |
Mid-South Food Bank Memphis, TN | $44,109,838 | $120,096,219 |
Feed More Inc Richmond, VA | $45,221,610 | $83,224,269 |
Second Harvest Food Bank Of Northwest North Carolina Inc Winston Salem, NC | $40,643,437 | $84,978,237 |
Gods Pantry Food Bank Inc Lexington, KY | $29,295,834 | $63,304,764 |
Mississippi Food Network Inc Jackson, MS | $23,144,263 | $77,392,396 |
Montgomery Area Food Bank Inc Montgomery, AL | $21,621,044 | $72,895,777 |
Blue Ridge Area Food Bank Inc Verona, VA | $30,715,187 | $59,706,112 |
The Food Bank For Central & Northeast Missouri Inc Columbia, MO | $22,373,866 | $57,336,993 |