Philabundance

Analysis

Philabundance is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1986, 40 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 2023, Philabundance reported income of $75.6m and spending of $83.3m, spending 110% of what it took in. Across the 5 years on record, from September 2019 to June 2023, income grew from $58.1m to $75.6m (+30%), an average of +6.8% a year. The sharpest change came in the year to September 2020, when income rose by 83%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Philabundance sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Moore Center Services Inc ($75.3m), Embrace Families Community Based Care Inc ($76.1m) and Midland Care Connection Inc ($75.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $492k (0.6% of expenses). Other salaries and wages came to $10.3m. At year end it held assets of $44.8m against liabilities of $12.5m, net assets of $32.3m. It reported 235 employees.