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Annual report, FY 2002

FY 2001 Income Statement
Revenue
$995,167
Expenses
$917,505
Surplus for capital
$77,662

Fiscal year 2002 reflected the more growth for the Food Bank of Southwest Georgia. More than 3.5 million pounds of food was distributed to nearly 300 nonprofit member agencies that, in turn, distributed the food to families and individuals in need. That marked a 10% increase in distribution from the previous year.

The Food Bank serves nonprofit agencies. In fiscal 2002, the number of member agencies at the Food Bank increased to more than 300.

Financially, the Food Bank reported $995,167 in revenue and $917,505 in expenses for a surplus for capital expenditures of $77,662. The surplus is reserved for capital improvements, including the planned purchase of additional warehouse space in the future. A state-supported project, State Nutritional Assistance Program, provided the Food Bank with $438,000 to purchase foods that would not otherwise be donated. That figure is included in both revenue and expenses.

In short, fiscal 2002 was a pivotal year for the Food Bank, setting the stage for future growth to serve its 20-county area.

See 2002 Form 990, as submitted to the IRS (requires Adobe Reader)