Mustard Seed Furniture Bank of Fort Wayne Inc

Analysis

Mustard Seed Furniture Bank of Fort Wayne Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in April 2002, 24 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, Mustard Seed Furniture Bank of Fort Wayne Inc reported income of $484k and spending of $505k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $696k to $484k (-30%), an average of -8.7% a year. The sharpest change came in the year to December 2020, when income dropped by 24%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mustard Seed Furniture Bank of Fort Wayne Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within IN. Charities of a similar size with the same main cause include Just Heart Foundation Inc ($484k), Westerly Senior Citizen Center Association ($484k) and Haggin Grant Post No 521 ($484k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 104% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $64k (13% of expenses). Other salaries and wages came to $89k. At year end it held assets of $812k against liabilities of $5,325, net assets of $807k. It reported 8 employees.