Akron-Canton Regional Foodbank

Analysis

Akron-Canton Regional Foodbank is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in August 1982, 44 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 2023, Akron-Canton Regional Foodbank reported income of $62.0m and spending of $59.6m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $55.6m to $62.0m (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Akron-Canton Regional Foodbank 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 OH. Charities of a similar size with the same main cause include Valley Opportunity Council Inc ($61.9m), Firstday Foundation ($62.2m) and Fayette Resources Incorporated ($61.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $679k (1.1% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $52.3m against liabilities of $10.5m, net assets of $41.8m. It reported 105 employees.