The Greater Boston Food Bank Inc

Analysis

The Greater Boston Food Bank Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 1990, 36 years ago. 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 September 2023, The Greater Boston Food Bank Inc reported income of $153.3m and spending of $160.4m, spending 105% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $107.3m to $153.3m (+43%), an average of +9.3% a year. The sharpest change came in the year to September 2020, when income rose by 65%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Greater Boston Food Bank Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include St Marys University of San Antonio ($152.8m), Acension St Vincent South Side ($153.8m) and Yale University Retiree Health Benefits Coverage TR ($152.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 93% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $1.7m (1.0% of expenses). Other salaries and wages came to $10.7m. It paid $777k in professional fundraising fees. At year end it held assets of $70.0m against liabilities of $9.1m, net assets of $60.8m. It reported 170 employees.