Food Bank of Siouxland Inc

Analysis

Food Bank of Siouxland Inc is a registered charity in United States, based in Sioux City, IA. It received its IRS tax-exemption ruling in September 1994, 32 years ago. 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 September 2023, Food Bank of Siouxland Inc reported income of $6.8m and spending of $7.0m, spending 104% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.3m to $6.8m (+56%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 51%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Food Bank of Siouxland Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within IA. Charities of a similar size with the same main cause include Independent Scholarship Inc ($6.8m), The Graduate Center Foundation Inc ($6.8m) and Maui Economic Development Board Inc Medb ($6.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 95% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $66k (0.9% of expenses). Other salaries and wages came to $480k. It paid $190k in professional fundraising fees. At year end it held assets of $3.5m against liabilities of $71k, net assets of $3.5m. It reported 18 employees.