Soddy Daisy Food Bank Inc

Analysis

Soddy Daisy Food Bank Inc is a registered charity in United States, based in Soddy Daisy, TN. It received its IRS tax-exemption ruling in August 2012, 14 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, Soddy Daisy Food Bank Inc reported income of $853k and spending of $838k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $780k to $853k (+9.2%), an average of +2.2% a year. The sharpest change came in the year to December 2022, when income rose by 21%. 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, Soddy Daisy Food Bank Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within TN. Charities of a similar size with the same main cause include Mobile School Pantry Inc Southflorida ($852k), S-Gap Inc ($853k) and Connectedly ($852k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $430k against liabilities of $42k, net assets of $388k.