2026-02-05T09:02:00-06:00 2025-06-30 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990 2024-11-19 332095666 585 LEXINGTON BENEFIT CORPORATION 585L 5853283380 2011 MT READ BLVD ROCHESTER NY 14615 JULIA TEDESCO PRESIDENT AND CEO 5853283380 2026-02-05 0 1 JEFFREY PAILLE P01378272 5853811000 2026-02-05 2024 2025-03-06 01:10:19Z X JULIA TEDESCO 2011 MT READ BLVD ROCHESTER NY 14615 149 0 X WWW.FOODLINKNY.ORG X 2024 NY 585 LEXINGTON BENEFIT CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT AND SUPPORT THE CHARITABLE PURPOSES OF FOODLINK, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION AT THEIR LEXINGTON AVENUE LOCATION. 5 3 0 5 0 0 0 0 149 0 149 0 0 0 0 0 209738 209738 -209589 948449 3124077 -2175628 X 585 LEXINGTON BENEFIT CORPORATION (THE ORGANIZATION) IS A TYPE 1 SUPPORTING ORGANIZATION IN SUPPORT OF FOODLINK, INC. (FOODLINK). THE ORGANIZATION IS GOVERNED AND MANAGED UNDER THE COMMON CONTROL OF FOODLINK. THE ORGANIZATION'S PRIMARY PURPOSE IS TO FUNCTION AS THE QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS (QUALICB) FOR FOODLINK'S COMMUNITY FARM PROGRAM SITE AT 585 LEXINGTON AVENUE. SERVING AS QUALICB IS KEY TO A SERIES OF ARRANGEMENTS TO OBTAIN NEW MARKET TAX CREDITS (NMTC) TO FINANCE CERTAIN PROPERTY ACQUISITION AND IMPROVEMENT ACTIVITIES FOR FOODLINK. 1 0 205742 585 LEXINGTON BENEFIT CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT AND SUPPORT THE CHARITABLE PURPOSES OF FOODLINK, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION, AT THEIR LEXINGTON AVENUE LOCATION. 205742 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X SHARI LAMPHRON 5853283380 2011 MT READ BLVD ROCHESTER NY 14615 TERRA KELLER CHAIR 0.50 39.50 X X 0 193014 39209 MITCH GRUBER BOARD VICE CHAIR 0.50 X X 0 0 0 JAMES GROSSMAN SECRETARY 0.50 X X 0 0 0 LEWIS NORRY BOARD MEMBER 0.50 X 0 0 0 MARTHA VALENTI BOARD TREASURER 0.50 X X 0 0 0 JULIA TEDESCO PRESIDENT & CHIEF EXECUTIV 1.00 39.00 X 0 240523 43139 0 433537 82348 0 0 1 0 0 149 149 149 0 0 149 X 40148 40148 154723 151275 3448 13587 13587 OTHER 732 732 BANK FEES 548 548 209738 205742 3996 0 948449 0 948449 724077 2400000 0 3124077 X -2175628 0 -2175628 0 948449 X -209589 -1966039 X X 0 1 X 1 0 X X 1 FOODLINK INC 222428304 7 1 1966039 0 1 1966039 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 149 0 149 0 149 209738 0 209738 0 209738 0 0 0 0 0 0 0 0 0 JULIA TEDESCO PRESIDENT & CHIEF EXECUTIV 0 240523 0 0 0 0 0 17277 0 25862 0 283662 0 0 TERRA KELLER CHAIR 0 193014 0 0 0 0 0 13645 0 25564 0 232223 0 0 PART I, LINE 3 THESE TWO OFFICERS ARE EMPLOYED BY THE ORGANIZATION'S PARENT, FOODLINK, INC. FOODLINK, INC.'S BOARD AND COMPENSATION COMMITTEE DETERMINE THE CEO'S COMPENSATION AND COMPENSATION OF THE COO/ CFO IS DETERMINED BY THE CEO IN CONSULTATION WITH FOODLINK, INC.'S COMPENSATION COMMITTEE. TERRA KELLER IS THE BOARD CHAIR FOR THE ORGANIZATION, HOWEVER, IS CHIEF OPERATING OFFICER AND CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION'S PARENT, FOODLINK INC., AND AS SUCH IS COMPENSATED BY THEM. JULIA TEDESCO IS THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION'S PARENT, FOODLINK INC., AND AS SUCH IS COMPENSATED BY THEM. FORM 990, PART III, LINE 2 THE ORGANIZATION WAS FORMED ON NOVEMBER 19, 2024 AND THIS IS ITS FIRST YEAR FILING A FORM 990. THEREFORE ALL ACTIVITIES HAVE NOT BEEN PREVIOUSLY REPORTED ON A FORM 990. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWED THE FORM 990 IN DETAIL AND PROVIDED A COPY TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES THE MEMBERS OF THE BOARD AND KEY MEMBERS OF MANAGEMENT TO COMPLETE A CONFLICT OF INTEREST FORM YEARLY AND THE ORGANIZATION COLLECTS THESE FORMS AND KEEPS THEM. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE BY REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES PROCURED FROM FOODLINK, INC.: PROGRAM SERVICE EXPENSES 151,275. MANAGEMENT AND GENERAL EXPENSES 3,448. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 154,723. FORM 990, PART XI, LINE 9: CONTRIBUTION TO FOODLINK, INC. -1,966,039. PART XII, LINE 2C THERE WERE NO CHANGES TO THE ORGANIZATION'S OVERSIGHT PROCESS DURING THE CURRENT YEAR. FORM 990, PART X, LINE 16 IN DECEMBER 2024, THE ORGANIZATION, FOODLINK, THE FOODLINK FOUNDATION, INC. (THE FOUNDATION), AND A THIRD-PARTY BANK ENTERED INTO AN ARRANGEMENT TO OBTAIN NEW MARKET TAX CREDITS (NMTC) TO FINANCE CERTAIN CAPITAL PROJECTS TO EXPAND FOODLINK'S FOOD BANK, COMMUNITY KITCHEN, CURBSIDE MARKET, AND FOODLINK FARM. THE NMTC PROGRAM WAS ESTABLISHED TO ENCOURAGE PRIVATE INVESTMENT IN LOW-INCOME COMMUNITIES. THROUGH THIS PROGRAM, A PRIVATE INVESTOR PARTNERS WITH AN ORGANIZATION THAT SERVES SUCH COMMUNITIES THROUGH THE FORMATION OF A COMMUNITY DEVELOPMENT ENTITY (CDE). THE CDE CHANNELS INVESTOR CAPITAL, VIA LOW-INTEREST LOANS AND/OR EQUITY INVESTMENTS, TO BUSINESSES AND NOT-FOR-PROFIT ORGANIZATIONS WITH DEVELOPMENT PROJECTS IN LOW-INCOME AREAS. THE INVESTOR RECEIVES FEDERAL TAX CREDITS EQUAL TO 39% OF THE TOTAL PROJECT COSTS, TO BE RECEIVED OVER SEVEN YEARS. THE CDE ALSO OBTAINS FUNDING FROM A "LEVERAGED LENDER" IN AN AMOUNT THAT ENHANCES THE COMMUNITY IMPACT OF EACH PROJECT AND ALLOWS FOR A TAX CREDIT CLAIM THAT PROVIDES AN APPROPRIATE RETURN TO THE INVESTOR. THESE DEVELOPMENT PROJECTS ARE KNOWN AS QUALICBS. AFTER THE END OF THE SEVEN-YEAR TAX CREDIT CLAIM PERIOD, THE INVESTOR TYPICALLY TRANSFERS OR SELLS ITS OWNERSHIP INTEREST IN THE CDE TO THE NOT-FOR-PROFIT ORGANIZATION FOR LITTLE TO NO CONSIDERATION AND THE ARRANGEMENT IS "UNWOUND," WITH THE ASSETS FINANCED THROUGH THE CDE BECOMING ASSETS OF THE NOT-FOR-PROFIT ORGANIZATION. GIVEN THIS SEQUENCE OF TRANSACTIONS, THE NOT-FOR-PROFIT ORGANIZATION OBTAINS THE LONG-TERM BENEFIT OF THE INVESTMENT IN THE PROJECT WITHOUT HAVING TO INCUR OR REPAY THE INITIAL CAPITAL INVESTMENT. THE ORGANIZATION, FOODLINK, THE FOUNDATION, AND A THIRD-PARTY BANK ENTERED INTO A QUALICB ARRANGEMENT IN DECEMBER 2024 RELATED TO FOODLINK'S COMMUNITY FARM PROGRAM SITE AT 585 LEXINGTON AVENUE. THE ORGANIZATION SERVES AS QUALICB FOR THIS PROJECT. THE FOUNDATION SERVES AS THE LEVERAGED LENDER FOR THE PROJECT. AT JUNE 30, 2025, THE ORGANIZATION HAD LOANS PAYABLE TO THE CDE TOTALING $2,400,000 THAT WERE ORIGINATED AS PART OF THE FUNDING OF THE QUALICB IN DECEMBER 2024. ALSO IN DECEMBER 2024, FOODLINK AND THE INVESTOR ENTERED INTO A "PUT AND CALL AGREEMENT" THAT ALLOWS FOODLINK TO PURCHASE THE CDE FOR $1,000 AFTER THE END OF THE TAX CREDIT PERIOD, EFFECTIVELY ENSURING THAT THE "UNWINDING" PROCESS CAN OCCUR AT THAT TIME. FOODLINK AND THE ORGANIZATION EXPECT THAT THE PUT AND CALL AGREEMENT WILL BE EXECUTED AFTER THE TAX CREDIT PERIOD IS COMPLETE AND THE UNWINDING PROCESS WILL INCLUDE FORGIVENESS OF THESE LOAN BALANCES. THIS EXPECTATION DOES NOT AFFECT THE RECORDING OF THESE LIABILITIES AS OF JUNE 30, 2025. FOODLINK INC 2011 MT READ BLVD ROCHESTER NY 14615 222428304 FOOD BANK NY 501(C)(3) LINE 7 N/A 0 FOODLINK FOUNDATION INC 2011 MT READ BLVD ROCHESTER NY 14615 161558258 PROVIDE FUNDS FOR ORGANIZATIONS THAT DISTRIBUTE FOOD FOR THOSE IN NEED NY 501(C)(3) LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 FOODLINK INC P 3448 CASH FOODLINK INC B 1966039 CASH