Rhode Island Community Food Bank Association

Analysis

Rhode Island Community Food Bank Association is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in May 1982, 44 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 June 2023, Rhode Island Community Food Bank Association reported income of $27.6m and spending of $31.0m, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $28.6m to $27.6m (-3.5%), an average of -1.2% a year. The sharpest change came in the year to June 2022, when income dropped by 21%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rhode Island Community Food Bank Association sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within RI. Charities of a similar size with the same main cause include Covenant Living of Cromwell Inc ($27.6m), Enrichment Services Program Incorporated ($27.6m) and YMCA of Metropolitan Detroit ($27.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $824k (2.7% of expenses). Other salaries and wages came to $3.7m. It paid $54k in professional fundraising fees. At year end it held assets of $23.2m against liabilities of $983k, net assets of $22.2m. It reported 78 employees.