Ohio Football Topic
Topic: Athens County Foodbank
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colobobcat66
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Posted: 12/17/2019 10:50 AM
Alan Swank wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
They had been serving about 5,000 people a year. This money should last a decade or more. Good job, everybody who contributed.
Last Edited: 12/17/2019 10:51:34 AM by colobobcat66
GoCats105
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Posted: 12/17/2019 5:11 PM
$384,320 at 4:17 CST.
Last Edited: 12/17/2019 5:11:53 PM by GoCats105
SVAC83
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Posted: 12/17/2019 8:36 PM
no offense but if your helping 5000 people a year. that is only about $70 a person. Don't know how you figure that is 10 years worth of help. Maybe i don't know what you meant.
OUbobcat9092
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Posted: 12/17/2019 8:49 PM
passed $400,000 now

Since the Athens Co. Food Bank is all volunteer-run, maybe this will allow them to hire a staffer. If they spread out the money raised over several years, they could double the amount of services they offer for 5+ years without any additional fundraising.
bobcatgrad
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Posted: 12/17/2019 10:31 PM
Alan Swank wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
colobobcat66
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Posted: 12/17/2019 11:18 PM
SVAC83 wrote:expand_more
no offense but if your helping 5000 people a year. that is only about $70 a person. Don't know how you figure that is 10 years worth of help. Maybe i don't know what you meant.
I figured they were providing 5000 meals, not feeding 5000 all year. With ongoing food donations and volunteer help that shouldn’t be much per meal.
On their website I see that they say they serve 1100 or so per month. Don’t know where I saw the 5000. Anyway that’s say 13000 or so. Question is how many meals per person, don’t know that
Last Edited: 12/17/2019 11:23:23 PM by colobobcat66
Alan Swank
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Posted: 12/17/2019 11:18 PM
bobcatgrad wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
Right now their annual budget is about $60,000 and with the pot now at $426K between the two fundraisers, that's seven years.

Here's a link that tells you more about the pantry.

https://www.foodpantries.org/li/oh_45701_athens-county-fo...
Last Edited: 12/17/2019 11:29:11 PM by Alan Swank
Mark Lembright '85
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Posted: 12/18/2019 9:33 AM
Alan Swank wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
Right now their annual budget is about $60,000 and with the pot now at $426K between the two fundraisers, that's seven years.

Here's a link that tells you more about the pantry.

https://www.foodpantries.org/li/oh_45701_athens-county-fo...
On this issue I admit I'm ignorant as I really don't live near Athens County. But I have to imagine that annual budget of $60,000 is a rather barebones kind of budget where the need exceeds the budget. With this extra $400K and beyond, can the Food Pantry expand their ability to provide more food to needy families or is the current budget sufficient? My point is, I imagine the Pantry probably wants to do more than they previously had the ability to do or provide, but maybe I'm wrong on that.
BillyTheCat
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Posted: 12/18/2019 10:04 AM
Mark Lembright '85 wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
Right now their annual budget is about $60,000 and with the pot now at $426K between the two fundraisers, that's seven years.

Here's a link that tells you more about the pantry.

https://www.foodpantries.org/li/oh_45701_athens-county-fo...
On this issue I admit I'm ignorant as I really don't live near Athens County. But I have to imagine that annual budget of $60,000 is a rather barebones kind of budget where the need exceeds the budget. With this extra $400K and beyond, can the Food Pantry expand their ability to provide more food to needy families or is the current budget sufficient? My point is, I imagine the Pantry probably wants to do more than they previously had the ability to do or provide, but maybe I'm wrong on that.
Mark, all great questions, and according to a post by the Food Bank on their Facebook page, they explain that they are beyond overwhelmed and will be convening their board to brainstorm ways in which they can best utilize the funds. This is obviously something none of them have ever thought about in regards of having an infusion of major funds.
Alan Swank
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Posted: 12/18/2019 2:09 PM
BillyTheCat wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
Right now their annual budget is about $60,000 and with the pot now at $426K between the two fundraisers, that's seven years.

Here's a link that tells you more about the pantry.

https://www.foodpantries.org/li/oh_45701_athens-county-fo...
On this issue I admit I'm ignorant as I really don't live near Athens County. But I have to imagine that annual budget of $60,000 is a rather barebones kind of budget where the need exceeds the budget. With this extra $400K and beyond, can the Food Pantry expand their ability to provide more food to needy families or is the current budget sufficient? My point is, I imagine the Pantry probably wants to do more than they previously had the ability to do or provide, but maybe I'm wrong on that.
Mark, all great questions, and according to a post by the Food Bank on their Facebook page, they explain that they are beyond overwhelmed and will be convening their board to brainstorm ways in which they can best utilize the funds. This is obviously something none of them have ever thought about in regards of having an infusion of major funds.
I would seek investment advice from one of Athens leading finance folks who has experience working with non-profits.
JSF
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Posted: 12/18/2019 2:41 PM
Mark Lembright '85 wrote:expand_more
On this issue I admit I'm ignorant as I really don't live near Athens County. But I have to imagine that annual budget of $60,000 is a rather barebones kind of budget where the need exceeds the budget. With this extra $400K and beyond, can the Food Pantry expand their ability to provide more food to needy families or is the current budget sufficient? My point is, I imagine the Pantry probably wants to do more than they previously had the ability to do or provide, but maybe I'm wrong on that.
I should note this isn't the only food bank in the county.

But to answer your question, a sudden, unexpected windfall like this can be overwhelming and scary. What do you do with it? Is this a one time thing, or will donations be higher long-term? It's impossible to say. Are expectations going to be attached to this money, and will that pressure affect your decision making? Do you hire new people, compensate your staff better, improve facilities? Can you do deliveries now?

It's incredibly easy to spend rashly and then end up costing yourself more in the long run. My educated guess is they'll keep most or all of the money in reserve for next fiscal year and take the time to build a better-than-expected budget for FY 2021. Some of it may go to shoring up this year's budget if they've been behind on fundraising for this fiscal year.

And for the other question: No, it's not sufficient, and even this budget wouldn't be. Money goes fast for operations like this and the need never subsides. It can really feel against raging against the dying of the light. And because they're a small operation in a poor, low-population area, it's harder to make the dollars stretch. Economies of scale and diverse partnerships are not going to be there like food banks in metro areas.

I'm going to link the most recent annual report for the Houston Food Bank. They took in $342 million to deliver 122 million meals. And they have the advantages of a dedicated warehouse, partnerships with foundations, corporations, and local pro sports teams, and thousands of volunteers. The dollar-to-food ratio is going to be much better than a rural foodbank. There are, of course, many, many differences, but it'll at least give you a rough idea of how this works.

https://www.houstonfoodbank.org/wp-content/uploads/2019/1...

Here's a link ACFP's numbers: http://athenscountyfoodpantry.org/by-the-numbers /

By the looks of it, they do a great job with what they have. They appear to be smart and disciplined. But the need is greater than what they're able to do.

The efforts of any charity, of course, is plugging a finger into a dike. Real change requires systemic reform.
Ohio69
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Posted: 12/18/2019 3:28 PM
Alan Swank wrote:expand_more
I would seek investment advice from one of Athens leading finance folks who has experience working with non-profits.
Right? If they can get 3% interest on $400K, they will have increased their $60K annual budget by 20% ($12K) forever. (Am I doing that right?) If they hire staff or buy a truck or whatever funds can run out quickly. Big heavy decisions for that group.
Last Edited: 12/18/2019 3:28:37 PM by Ohio69
RSBobcat
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Posted: 12/18/2019 11:28 PM
Perspective

We are all excited about the outpouring of support, and it is incredible - To help feed appx 5,000 in need.

And the total $'s is still not equal to 1 years salary of 2 separate local sports coaches....
Robert Fox
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Posted: 12/19/2019 8:09 AM
RSBobcat wrote:expand_more
Perspective

We are all excited about the outpouring of support, and it is incredible - To help feed appx 5,000 in need.

And the total $'s is still not equal to 1 years salary of 2 separate local sports coaches....
Or two OU administrators.
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Posted: 12/19/2019 2:40 PM
Ohio69 wrote:expand_more
I would seek investment advice from one of Athens leading finance folks who has experience working with non-profits.

Right? If they can get 3% interest on $400K, they will have increased their $60K annual budget by 20% ($12K) forever. (Am I doing that right?) If they hire staff or buy a truck or whatever funds can run out quickly. Big heavy decisions for that group.
Per this point and many raised by Jeffrey, a key challenge is how to leverage these (and any others dollars): (Safely) Investing, using funds as seed and/or matching dollars to attract additional donations and grants, better competing for corporate partners, etc., while also addressing any immediate accounting fires. I'm vice-chair on a team charged with creating a food council and organizational program in a similarly rural area of NC. The need is great -- not just in providing food, but educating on storage, prep, cooking, etc. and coordinating with, and complementing other groups (churches, etc.) that also provide services in a manner that does not trigger animosity or competition (a local organization getting such a windfall can be akin to a neighbor or relative winning the lottery).

Sounds like the Athen's group is up to the task. The community need is certainly there.
Last Edited: 12/19/2019 2:50:46 PM by cc-cat
bobcatgrad
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Posted: 12/19/2019 6:00 PM
Alan Swank wrote:expand_more
$360,850 at 10:30 between the two fund raising efforts. Simply amazing.
I wonder how many months of food that will supply for Athens County. This is so awesome. :)
Right now their annual budget is about $60,000 and with the pot now at $426K between the two fundraisers, that's seven years.

Here's a link that tells you more about the pantry.

https://www.foodpantries.org/li/oh_45701_athens-county-fo...
Thanks for the info Alan.
JSF
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Posted: 12/19/2019 9:59 PM
RSBobcat wrote:expand_more
Perspective

We are all excited about the outpouring of support, and it is incredible - To help feed appx 5,000 in need.

And the total $'s is still not equal to 1 years salary of 2 separate local sports coaches....
Society funds what it most cares about. Coaches and administrators make what they make because we allow or support it. And places like food pantries struggle to get by because we don't support them.

As for investing the money, that would be unusual. I don't know if it's tax reasons or management reasons, but a non-profit of their size with an endowment or portfolio would be very unusual, if not unheard of.
Alan Swank
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Posted: 12/20/2019 10:30 AM
JSF wrote:expand_more
Perspective

We are all excited about the outpouring of support, and it is incredible - To help feed appx 5,000 in need.

And the total $'s is still not equal to 1 years salary of 2 separate local sports coaches....
Society funds what it most cares about. Coaches and administrators make what they make because we allow or support it. And places like food pantries struggle to get by because we don't support them.

As for investing the money, that would be unusual. I don't know if it's tax reasons or management reasons, but a non-profit of their size with an endowment or portfolio would be very unusual, if not unheard of.
Not really. I spoke with the leading finance guy in Athens on Wednesday and he already does this with a couple of similar Appalachian operations. Now and to your point, that may be highly unusual but he's going to speak with them about managing their money to help grow it and make it last for many years to come.
OhioCatFan
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Posted: 12/20/2019 10:33 AM
Not that it's comparable, but the Southeast Ohio History Center (formerly the Athens County Historical Society & Museum) has a multimillion dollar endowment.
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Posted: 12/20/2019 12:21 PM
Burrow needs a statue. How can we make this happen?
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Posted: 12/20/2019 12:39 PM
ExCat21 wrote:expand_more
Burrow needs a statue. How can we make this happen?
All things in due time. With a national fundraising move to feed the poor in Athens County, now is not the time to raise high five figures for a statue.
GoCats105
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Posted: 12/20/2019 1:15 PM
Ohio69 wrote:expand_more
I would seek investment advice from one of Athens leading finance folks who has experience working with non-profits.
Right? If they can get 3% interest on $400K, they will have increased their $60K annual budget by 20% ($12K) forever. (Am I doing that right?) If they hire staff or buy a truck or whatever funds can run out quickly. Big heavy decisions for that group.
Hell even putting that in a money market fund would reap monthly dividends and get a better interest rate than putting in a regular bank savings. Not sure right now is the best time to do big investing especially with the White House changing hands, who knows what the market will do. We're about due for another cycle/economic downturn.
rpbobcat
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Posted: 12/20/2019 2:04 PM
GoCats105 wrote:expand_more
Not sure right now is the best time to do big investing especially with the White House changing hands, who knows what the market will do. We're about due for another cycle/economic downturn.
So,potentially,they'd have to wait till January 2025 do any big investing ? :-)
OhioCatFan
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Posted: 12/20/2019 2:46 PM
rpbobcat wrote:expand_more
Not sure right now is the best time to do big investing especially with the White House changing hands, who knows what the market will do. We're about due for another cycle/economic downturn.
So,potentially,they'd have to wait till January 2025 do any big investing ? :-)
+1

Got to give him credit for long range thinking! ;-)
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Posted: 12/20/2019 3:06 PM
ExCat21 wrote:expand_more
Burrow needs a statue. How can we make this happen?
He has one. It's a called a Heisman.
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