Akron-Caton Regional Foodbank Endowment

Analysis

Akron-Caton Regional Foodbank Endowment is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in November 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Akron-Caton Regional Foodbank Endowment reported income of $1.5m and spending of $509k, leaving 67% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $1.5m (+547%), an average of +60% a year. The sharpest change came in the year to December 2023, when income rose by 4579%. Over the whole period it spent 30% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Akron-Caton Regional Foodbank Endowment sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within OH. Charities of a similar size with the same main cause include Beacon Rescue Mission ($1.5m), Project R I G H T Inc ($1.5m) and Project Sage Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% of the total. At year end it held assets of $11.7m against liabilities of $6.9m, net assets of $4.8m.