Milk Bank Inc

Analysis

Milk Bank Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in June 2005, 21 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Milk Bank Inc reported income of $2.9m and spending of $2.0m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.9m (+103%), an average of +19% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Milk Bank Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within IN. Charities of a similar size with the same main cause include Groton Ambulance Assoc Inc ($2.9m), Dream Factory Inc ($2.9m) and The Skylands Center Offering Autism Programs ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.5% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $112k (5.5% of expenses). Other salaries and wages came to $678k. At year end it held assets of $4.0m against liabilities of $1.2m, net assets of $2.9m. It reported 25 employees.