FY17 Annual Report North Texas Food Bank Annual Report 2017 - Page 13

AUDITED FINANCIALS North Texas Food Bank Statements of Financial Position | June 30, 2017 and 2016 Assets 2017 2016 Current Assets Cash and cash equivalents $ 2,570,631 $ 1,504,983 Handling fees receivable (net of allowance of $15,945 in 2017 and $16, 451 in 2016 Pledges receivable (See Note 4) 149,477 125,460 394,700 712,867 7,065,903 4,932,867 1,451,950 515,166 Pledges receivable - capital campagin (net of allowance of $149, 457 and unamortized discount in 2017 (See Note 4) Other receivables Investments (See Note 3) 15,021,062 14,523,001 Inventory of food and commodities 4,811,603 6,462,537 Prepaid expenses and other assets 180,443 268,282 31,645,769 29,045,163 196,400 56,322 14,741,046 13,793,399 Total current assets Noncurrent Assets Pledges receivable (net of allowance of $3,600 in 2017 and $17,198 in 2016) (See Note 4) Pledges receivable - capital campaign (net allowance of $863,351 and unamortized discount in 2017 and net allowance of $932,859 in 2016) (See Note 4) Property and equipment, net (See Note 5) 12,243,232 12,813.652 27,180,678 26,663,373 Total noncurrent assets Total assets $ 58,826,447 Accounts payable and accured expenses $ 1,863,665 $ 55,708,536 Liabilities and Net Assets Current Liabilities Note payable to bank (See Note 6) Total current liabilities $ 1,870,476 250,000 4,500,000 2,113,665 6,370,476 110,879 Noncurrent Liabilities Deferred rent Long-term note payable to bank (See Note 6) Total noncurrent liabilities Total liabilities 192,787 —­ 2,600,000 110,879 2,792,787 2,224,544 9,163,263 Non Assets (See Note 7) Unrestricted Temporarily restricted Total net assets 20,314,244 19,017,294 36,287,659 27,527,979 56,601,903 46,545,273 Total liabilities and net assets ANNUAL REPORT FY 2017 $ 58,826,447 $ 55,708,536 NORTH TEXAS FOOD BANK 13