Furniture Bank of Central Ohio

Analysis

Furniture Bank of Central Ohio is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in June 1998, 28 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, Furniture Bank of Central Ohio reported income of $7.8m and spending of $5.7m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $7.8m (+80%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Furniture Bank of Central Ohio sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Fordham Bedford Community Services Inc ($7.8m), Jewish Community Center of Northern Virginia Inc ($7.8m) and Operation Relief Center Inc ($7.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $156k (2.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $12.3m against liabilities of $6.3m, net assets of $6.0m. It reported 101 employees.