Olean Food Pantry Incorporated EIN 55-0881869 Form 990 (PDF) Claim this org

Olean Food Pantry Incorporated

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Provides healthy food and resources to empower people toward self-sufficiency. For fiscal year 2024 it reported $351K in revenue, $354K in expenses, and $840K in net assets.Pt I

Type
Public charity (501(c)(3)) · Food & Agriculture
Location
Olean, NY
Website
www.oleanfoodpantry.org
Filings
5 on file (2020–2024)
Revenue
$351KFY2024
Expenses
$354K
Net assets
$840K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  55-0881869 Public charity (501(c)(3)) Olean, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides healthy food and resources to empower people toward self-sufficiency.
Leadership
Richard Esposito · Board Member
Money in and out
$351K revenue, $354K expenses
Bottom line
86% program efficiency
Where the money goes · FY2024
Total revenue
$351K
Pt VIII · Ln 12
Total expenses
$354K
Pt IX · Ln 25
Net assets
$840K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$3K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.14
Program efficiency
86%
of spending reaches programs▼ -7% vs prior filing year
Operating runway
11.9mo
months of highly liquid reserves at operating expense rate▲ +20% vs prior filing year
Surplus margin
-0.8%
revenue over expenses, this year▼ -104% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$351K
FY2024▼ -35%
Expenses
$354K
FY2024▼ -19%
Total assets
$863K
FY2024▲ +5%
Total liabilities
$24K
FY2024▲ +168%
Total revenue
$351K
Pt VIII · Ln 12
Total expenses
$354K
Pt IX · Ln 25
Net assets
$840K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$3K
Total assetsPt X · Ln 16$863K
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $304K of program spending, described in the organization's own filed words · FY2024.
01

As a 100% volunteer organization, olean food pantry, inc. Provides food security by offering choices of healthy, nutritious food. In cooperation with the community, we empower individuals through education, resources, and knowledge to promote opportunities to become self-sufficient.

$304Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COlean Food Pantry Incorporated
EINHdr · item D55-0881869
Principal addressHdr · item COlean, NY
WebsiteHdr · item Jwww.oleanfoodpantry.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFood & Agriculture (K31)
Ruling yearIRS BMFMar 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$335K · 95%
Investment income$16K · 5%
Contributions & grants95%$335K
Investment income5%$16K
Other revenue$56
— government grantsLn 1e$178K
Total revenueLn 12$351K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.14
Program services86%$304K
Management & general14%$51K
Total functional expensesLn 25$354K

Balance Sheet

Part X · end of year
CashLn 1$352K
Total assetsLn 16$863K
Total liabilitiesLn 26$24K
Total net assetsLn 32$840K
Months of cash on handcomputed11.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $352K · Operating expenses/yr $354K
11.9 months
Where the money goes
Program services
Program services $304K · Total expenses $354K
86%
Management & General
Management & general $51K · Total expenses $354K
14%
Fundraising
Fundraising $0 · Total expenses $354K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $281K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $335K · Total revenue $351K
95%
Government reliance
Government grants $178K · Total revenue $351K
51%
Earned-income share
Program service revenue $0 · Total revenue $351K
0%
Investment reliance
Investment income $16K · Total revenue $351K
+5%
Program self-sufficiency
Program service revenue $0 · Total expenses $354K
0%
Growth & trend
Revenue growth (YoY)
This year $351K · Prior year $542K
-35%
Revenue CAGR
FY2020 $574K · FY2024 $351K
-12%
Net-asset trend (YoY)
End of year $840K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $351K · Expenses $354K
-0.8%
Liabilities-to-Assets
Total liabilities — · Total assets $863K
Net-asset ratio
Net assets $840K · Total assets $863K
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $863K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Richard Esposito · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $354K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $354K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 14%
Fundraising cost ratio 0%
Revenue growth -35%
Accounting fee ratio 11%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$25K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$351K revenue · viewing · ⤓ 990 PDF
FY2023$542K revenue · ⤓ 990 PDF
FY2022$385K revenue · ⤓ 990 PDF
FY2021$418K revenue · ⤓ 990 PDF
FY2020$574K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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