Food Bank of Central New York

Analysis

Food Bank of Central New York is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in December 1987, 39 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 2024, Food Bank of Central New York reported income of $49.7m and spending of $44.5m, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $38.8m to $49.7m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2024, when income rose by 30%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Food Bank of Central New York sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Trustbridge Inc ($49.7m), Lenbrook Square Foundation Inc ($49.9m) and Adventhealth Home Health and Hospice Inc ($49.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $311k (0.7% of expenses). Other salaries and wages came to $4.1m. It paid $265k in professional fundraising fees. At year end it held assets of $29.2m against liabilities of $1.8m, net assets of $27.4m. It reported 71 employees.