Overview
What is The Food Bank Support Corporation?
The Food Bank Support Corporation is a nonprofit organization situated in Hatfield, Massachusetts. Its primary goal is to support the operations and advance the objectives of the Food Bank of Western Massachusetts, a charitable organization exempt under Section 501(C)(3). The Corporation undertakes real estate development projects, owning or leasing properties at affordable rates for the Food Bank. In 2022, the organization completed financing for a 63,000 square foot headquarters building in Chicopee, Massachusetts, which will house the Food Bank and its supported organizations. The construction process commenced in the same year, with the project still ongoing.
Is The Food Bank Support Corporation legitimate?
The Food Bank Support Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Food Bank Support Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of The Food Bank Support Corporation?
The Food Bank Support Corporation's mission is to assist in raising funds, supporting the functions, and carrying out the purposes of The Food Bank of Western Massachusetts, an organization exempt under Section 501(c)(3). To achieve this, the corporation owns or leases, develops, finances, and operates certain real estate, which is then leased to The Food Bank of Western Massachusetts at or below market rents. As part of its efforts, the corporation has undertaken the construction of a 63,000 square foot headquarters building, including a warehouse, training, and support space. However, as of the end of the fiscal year 2022, the construction is not yet completed.
Who is the CEO of The Food Bank Support Corporation?
Paul Stelzer is the President of The Food Bank Support Corporation.
What is the revenue of The Food Bank Support Corporation?
The Food Bank Support Corporation's revenue in 2022 was $1,243,239.
Who are the executives of The Food Bank Support Corporation and what are their salaries?
There 3 volunteers at The Food Bank Support Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Food Bank Support Corporation?
The Food Bank Support Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Food Bank Support Corporation
The Food Bank Support Corporation is an organization dedicated to supporting the functions and carrying out the purposes of The Food Bank of Western Massachusetts, a non-profit exempt under Section 501(c)(3). Its primary role involves owning or leasing, developing, financing, and operating certain real estate, which is then leased to The Food Bank of Western Massachusetts at or below market rates.
In pursuit of this mission, The Food Bank Support Corporation has undertaken the construction of a 63,000 square foot headquarters building in Chicopee, Massachusetts. This facility includes a warehouse, training, and support space. The corporation aimed to have this building occupied by The Food Bank of Western Massachusetts and its supported organizations following completion. In March 2022, The Food Bank Support Corporation received a land contribution from The Food Bank of Western Massachusetts along with predevelopment assets, bringing the project closer to completion. Although construction commenced in the fiscal year ending September 30, 2022, it has yet to be completed, with financing finalized through a New Market Tax Credit deal structure.
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Impact
October, 2024
The Food Bank Support Corporation has a significant impact on the community by enhancing the operational capabilities of the Food Bank of Western Massachusetts. It focuses on raising funds and supporting the functions of the Food Bank, which is essential for addressing food insecurity in the region. By owning, leasing, developing, and financing real estate, the organization ensures that the Food Bank can operate in facilities that meet its needs without incurring excessive costs, as these properties are leased at or below market rents.
Currently, the Food Bank Support Corporation is actively seeking financing to purchase and develop land, which will further bolster the Food Bank’s mission to distribute food to those in need. This strategic approach not only improves the infrastructure available to the Food Bank but also enhances its capacity to serve the community more effectively, making a direct positive impact on food accessibility for residents of Western Massachusetts.
This information is meant to be a general summary of The Food Bank Support Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,499
- Gross Receipts: $1,243,239
Assets and Liabilities:
- Total Assets: $24,590,123
- Total Liabilities: $23,346,884
- Net Assets: $1,243,239
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Organization Details
Founding Year
2021
Phone
(413) 247-9738Principal Officer
Paul Stelzer
Main Address
97 NORTH HATFIELD ROAD, HATFIELD, MA, 01038
NTEE Category
Code: K11 - Food
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