Lacey Food Bank Inc

Analysis

Lacey Food Bank Inc is a registered charity in United States, based in Forked River, NJ. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lacey Food Bank Inc reported income of $281k and spending of $209k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $242k to $281k (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2020, when income rose by 69%. Over the whole period it spent 66% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lacey Food Bank Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include Choices Center for Independent Living Inc ($281k), New Beginnings - Big Country ($281k) and Pennsylvania Dialogue Forum ($281k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $17k (8.1% of expenses). At year end it held assets of $764k against liabilities of $0, net assets of $764k.