Toledo Seagate Food Bank Inc

Analysis

Toledo Seagate Food Bank Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in December 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 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, Toledo Seagate Food Bank Inc reported income of $10.2m and spending of $10.2m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $8.2m to $10.2m (+24%), an average of +5.5% a year. The sharpest change came in the year to September 2020, when income rose by 57%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Toledo Seagate Food Bank Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include Child Educational Center Caltech JPL Community ($10.2m), Washington County Human Development Council Inc ($10.2m) and Family Resources Inc ($10.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $85k (0.8% of expenses). Other salaries and wages came to $671k. At year end it held assets of $6.5m against liabilities of $111k, net assets of $6.4m. It reported 19 employees.