Freestore-Foodbank Inc

Analysis

Freestore-Foodbank Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in December 1971, 55 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, Freestore-Foodbank Inc reported income of $94.2m and spending of $95.8m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $67.5m to $94.2m (+40%), an average of +6.9% a year. The sharpest change came in the year to June 2020, when income rose by 45%. 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, Freestore-Foodbank Inc sits at the 100th 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 OH. Charities of a similar size with the same main cause include Safe Horizon Inc ($94.1m), Las Vegas-Clark County Urban League Caa ($94.4m) and Helping Hand for Relief & Development Inc ($94.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $1.2m (1.2% of expenses). Other salaries and wages came to $8.1m. It paid $1.3m in professional fundraising fees. At year end it held assets of $72.6m against liabilities of $41.6m, net assets of $31.0m. It reported 161 employees.