Northeast Iowa Food Bank Inc

Analysis

Northeast Iowa Food Bank Inc is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in December 1981, 45 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 June 2023, Northeast Iowa Food Bank Inc reported income of $21.0m and spending of $20.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.5m to $21.0m (+20%), an average of +4.6% a year. The sharpest change came in the year to June 2020, when income rose by 38%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Northeast Iowa Food Bank Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within IA. Charities of a similar size with the same main cause include Clark-Lindsey Village Inc ($21.0m), Independent Living Resource Center Inc ($21.0m) and Meriden-New Britain-Berlin Young Mens Christian Association Inc ($20.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $221k (1.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $13.2m against liabilities of $425k, net assets of $12.8m. It reported 53 employees.