Food Bank for New York City

Analysis

Food Bank for New York City is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in November 1983, 43 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Food Bank for New York City reported income of $164.3m and spending of $168.7m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $49.9m to $164.3m (+229%), an average of +35% a year. The sharpest change came in the year to June 2020, when income rose by 189%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Food Bank for New York City 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 NY. Charities of a similar size with the same main cause include Alamo Workforce Development Inc ($152.6m), Metropolitan Entertainment & ($164.6m) and Servicesource Inc ($152.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $799k (0.5% of expenses). Other salaries and wages came to $21.2m. At year end it held assets of $86.5m against liabilities of $43.0m, net assets of $43.5m. It reported 324 employees.