Community Furniture Bank Inc

Analysis

Community Furniture Bank Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover human services, 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, Community Furniture Bank Inc reported income of $600k and spending of $597k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $515k to $600k (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2020, when income rose by 23%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Furniture Bank Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 76th percentile within AL. Charities of a similar size with the same main cause include Gulf Coast Family Counselling Agency Inc ($600k), Jackson Hole Therapeutic Riding Association ($600k) and Haven House Family Shelter ($600k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $188k (32% of expenses). At year end it held assets of $627k against liabilities of $364, net assets of $626k. It reported 2 employees.