Charity Report

  • Issued: December 2024
  • Expires: December 2026

Freestore Foodbank, Inc.

Accredited Charity

Meets Standards

513-482-4500

112 E Liberty Street
Cincinnati, OH 45202-6510

https://freestorefoodbank.org/
Accredited Charity

513-482-4500

112 E Liberty Street
Cincinnati, OH 45202-6510

https://freestorefoodbank.org/
Accredited Charity

Accredited Charity

Meets Standards

Standards For Charity Accountability

Governance

  1. Board Oversight

    Oversight of Operations and Staff: Standard 1

    Description
    Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fundraising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

    The organization meets this standard.

  2. Board Size

    Number of Board Members: Standard 2

    Description
    Soliciting organizations shall have a board of directors with a minimum of five voting members.

    The organization meets this standard.

  3. Board Meetings

    Frequency and Attendance of Board Meetings: Standard 3

    Description
    An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

    The organization meets this standard.

  4. Board Compensation

    Compensated Board Members: Standard 4

    Description
    Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.

    The organization meets this standard.

  5. Conflict of Interest

    Conflict of Interest: Standard 5

    Description
    No transaction(s) in which any board or staff members have material conflicting interests with the charity resulting from any relationship or business affiliation. Factors that will be considered when concluding whether or not a related party transaction constitutes a conflict of interest and if such a conflict is material, include, but are not limited to: any arm's length procedures established by the charity; the size of the transaction relative to like expenses of the charity; whether the interested party participated in the board vote on the transaction; if competitive bids were sought and whether the transaction is one-time, recurring or ongoing.

    The organization meets this standard.

Measuring Effectiveness

  1. Effectiveness Policy

    Board Policy on Effectiveness: Standard 6

    Description
    Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.

    The organization meets this standard.

  2. Effectiveness Report

    Board Approval of Written Report on Effectiveness: Standard 7

    Description
    Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

    The organization meets this standard.

Finances

  1. Program Expenses

    Program Service Expense Ratio: Standard 8

    Description
    Spend at least 65% of its total expenses on program activities.

    The organization meets this standard.

  2. Fundraising Expenses

    Fundraising Expense Ratio: Standard 9

    Description
    Spending should be no more than 35% of related contributions on fundraising. Related contributions include donations, legacies, and other gifts received as a result of fundraising efforts.

    The organization meets this standard.

  3. Accumulating Funds

    Ending Net Assets: Standard 10

    Description
    Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.

    The organization meets this standard.

  4. Audit Report

    Financial Statements: Standard 11

    Description
    Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $1 million, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $1 million, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.

    The organization meets this standard.

  5. Detailed Expense Breakdown

    Detailed Functional Breakdown of Expenses: Standard 12

    Description
    Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fundraising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.

    The organization meets this standard.

  6. Accurate Expense Reporting

    Accuracy of Expenses in Financial Statements: Standard 13

    Description
    Accurately report the charity's expenses, including any joint cost allocations, in its financial statements. For example, audited or unaudited statements which inaccurately claim zero fundraising expenses or otherwise understate the amount a charity spends on fundraising, and/or overstate the amount it spends on programs will not meet this standard.

    The organization meets this standard.

  7. Budget Plan

    Budget: Standard 14

    Description
    Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fundraising, and administration.

    The organization meets this standard.

Fundraising & Info

  1. Truthful Materials

    Misleading Appeals: Standard 15

    Description
    Have solicitations and informational materials, distributed by any means, that are accurate, truthful and not misleading, both in whole and in part. Appeals that omit a clear description of program(s) for which contributions are sought will not meet this standard. A charity should also be able to substantiate that the timing and nature of its expenditures are in accordance with what is stated, expressed, or implied in the charity's solicitations.

    The organization meets this standard.

  2. Annual Report

    Annual Report: Standard 16

    Description
    Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fundraising and administrative categories as in the financial statements, and (iii) ending net assets.

    The organization meets this standard.

  3. Website Disclosures

    Web Site Disclosures: Standard 17

    Description
    Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

    The organization meets this standard.

  4. Donor Privacy

    Privacy for Written Appeals & Internet Privacy: Standard 18

    Description
    Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.

    The organization meets this standard.

  5. Cause Marketing Disclosures

    Cause Related Marketing: Standard 19

    Description
    Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).

    The organization meets this standard.

  6. Complaints

    Complaints: Standard 20

    Description
    Respond promptly to and act on complaints brought to its attention by the BBB Wise Giving Alliance and/or local Better Business Bureaus about fundraising practices, privacy policy violations and/or other issues.

    The organization meets this standard.

Conclusion

Freestore Foodbank, Inc. meets the 20 Standards for Charity Accountability.

**Marketplace Complaints (product/service issue)** Number of Complaints processed by BBB in the past 36 months: 1; The organization addressed the complaint issues brought to its attention: 1; The organization did NOT address the complaint issues brought to its attention: 0.

Purpose

  • Year, State Incorporated

    1971, OH

  • Stated Purpose

    Freestore Foodbank’s mission is to improve lives by eliminating hunger in partnership with our community.


Programs

As a member of Feeding America, a national organization dedicated to alleviating domestic hunger, Freestore Foodbank is part of a collaborative network of over 200 food banks working towards a unified mission. Our primary role as a food bank involves the acquisition, collection, and distribution of food to a network of 600 community partners, including soup kitchens, schools, emergency food pantries, clinics, and social service centers. In the past year, we provided over 39 million meals, an achievement made possible by distributing 47 million pounds of food. This collective effort helps address the needs of the more than 250,000 individuals experiencing food insecurity in our 20-county tristate region including Ohio, Kentucky and Indiana.Our Customer Connection Center in Over the Rhine, Cincinnati offers direct assistance on weekdays, serving as a dependable source of support. Complementing this, the Liberty Street Market serves as a resource for families in need, providing not only food but also valuable services such as financial management, public benefits enrollment, and assistance with housing, transportation, and clothing.Through these comprehensive efforts, Freestore Foodbank remains committed to its mission of fighting hunger and supporting those in need across our community.Freestore Foodbank’s programs:Power Pack: Provides weekend nourishment to elementary school children facing food insecurity.School Pantry: Offers nutritional assistance to children of all ages and their families through school sites.Kids Cafe: Supplies after-school meals to support educational activities and child development.Keeping Infants Nourished and Developing (KIND): Provides supplemental formula to clinic partners for families with newborns.Customer Connection Center: Delivers a comprehensive range of holistic social services to local families.Healthy Harvest Mobile Market: Brings fresh produce to neighborhoods lacking access to nutritious food.Bea Taylor and Liberty Street Markets: Offer choice pantry models serving two community regions with longer hours and Saturdays available to support working familiesSenior Boxes: Supplies additional food resources to low-income elderly community members.Freestore Direct: Offers home delivery of food assistance to physician-referred families facing food insecurity and additional barriers.Order Ahead: Allows busy families to pick up food at schools or childcare centers, alleviating time and transportation constraints.Stabilization Program: Provides long-term case management with comprehensive social service assistance.Cincinnati COOKS!: Delivers culinary job training along with soft skills support for securing stable employment.LIFT the TriState: Offers warehousing and logistics job training, paired with soft skills support for sustainable employment.

For the year ended June 30, 2024, Freestore Foodbank, Inc. program expenses were:

Client services $6,151,371
Workforce development $2,743,040
Foodbank: in-kind expenses $65,289,353
Foodbank: supportive services $14,278,329
Social enterprises $4,033
Program Expenses $88,466,126

Governance & Staff

  • CEO

    Mr. Kurt Reiber, President & CEO

  • Board Chair

    Mr. Marty Dunn, Board Chairperson

  • Chair's Profession / Business Affiliation

    Dinsmore & Shohl, LLP

  • Board Size

    28

  • Paid Staff Size

    135

Fundraising

Method(s) Used:
Direct mail appeals, Telephone appeals, Invitations to fundraising events, Print advertisements (newspapers, magazines, etc.), Television, Radio, Grant proposals, Internet, Planned giving arrangements, Cause-related marketing (affinity credit cards, consumer product sales, etc.), Appeals via Social Media (Facebook, etc.).

% of Related Contributions on Fundraising: 3.54%

Tax Status

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.


Financial

The following information is based on Freestore Foodbank, Inc.'s Audited financial statements for the fiscal year ending June 30, 2024

Source of Funds
In-kind foodbank donations $65,502,898
Contributions and grants $22,734,070
Government agencies $6,551,194
Member agency fees/product resale $3,308,752
Investment return, net $2,213,138
Special events $1,467,319
Other $808,728
Private organizations $656,328
Change in interest in irrevocable trusts $157,790
Client services - individuals $68,822
In-kind advertising services $34,000
Net gain on disposal of property and equipment $22,480
Social enterprises $6,829
Total Income $103,532,348

Breakdown of Expenses

Total Income $103,532,348
Total Expenses: $96,208,994
Program Expenses $88,466,126
Fundraising Expenses $3,405,506
Administrative Expenses $4,337,362
Other Expenses $0
Income in Excess of Expenses $7,323,354
Beginning Net Assets $77,938,742
Other Changes In Net Assets $0
Ending Net Assets $85,262,096
Total Liabilities $27,608,295
Total Assets $112,870,391

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