Franklin Township Food Bank

Analysis

Franklin Township Food Bank is a registered charity in United States, based in Somerset, NJ. It received its IRS tax-exemption ruling in November 1983, 43 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 December 2023, Franklin Township Food Bank reported income of $8.3m and spending of $8.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $8.3m (+170%), an average of +28% a year. The sharpest change came in the year to December 2020, when income rose by 52%. 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, Franklin Township Food Bank sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NJ. Charities of a similar size with the same main cause include LA Porte County Comprehensive Mental Health Council Inc ($8.3m), Madison Area Rehabilitation Centers Inc ($8.3m) and Raritan Bay Area Young Mens Christian Association ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $132k (1.6% of expenses). Other salaries and wages came to $614k. At year end it held assets of $2.5m against liabilities of $363k, net assets of $2.2m. It reported 19 employees.