Food Bank of the State College Area Inc

Analysis

Food Bank of the State College Area Inc is a registered charity in United States, based in State College, PA. It received its IRS tax-exemption ruling in October 1995, 31 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, Food Bank of the State College Area Inc reported income of $2.9m and spending of $1.7m, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.9m (+174%), an average of +29% a year. The sharpest change came in the year to December 2020, when income rose by 112%. Over the whole period it spent 63% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Food Bank of the State College Area Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Meadowlark Retirement Village ($2.9m), Heartland Ranch Inc ($2.9m) and Life Enrichment Center of Cleveland County Inc ($2.9m).

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 $79k (4.7% of expenses). Other salaries and wages came to $147k. At year end it held assets of $7.3m against liabilities of $1.1m, net assets of $6.1m.