Food Bank of Delaware Inc

Analysis

Food Bank of Delaware Inc is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in June 1972, 54 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Food Bank of Delaware Inc reported income of $41.5m and spending of $36.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.5m to $41.5m (+63%), an average of +13% a year. The sharpest change came in the year to June 2020, when income rose by 36%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Food Bank of Delaware Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within DE. Charities of a similar size with the same main cause include The Village at Rockville Inc ($41.4m), Childhelp Inc ($41.5m) and Florida Network of Youth and Family Services Inc ($41.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $615k (1.7% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $49.0m against liabilities of $2.5m, net assets of $46.6m. It reported 111 employees.