Friendly Hands Food Bank Inc

Analysis

Friendly Hands Food Bank Inc is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in May 1999, 27 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 December 2022, Friendly Hands Food Bank Inc reported income of $231k and spending of $195k, spending 84% of its income. Across the 3 years on record, from December 2020 to December 2022, income fell from $344k to $231k (-33%), an average of -18% a year. The sharpest change came in the year to December 2021, when income dropped by 28%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendly Hands Food Bank Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within CT. Charities of a similar size with the same main cause include Capstone Ministries Inc ($231k), Permanent Planning II of Governors Planning Area VII ($231k) and Anacortes Senior Center Advisory Committee ($231k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $48k (24% of expenses). Other salaries and wages came to $55k. At year end it held assets of $370k against liabilities of $140k, net assets of $230k. It reported 6 employees.