Maryland Food Bank Inc

Analysis

Maryland Food Bank Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 1979, 47 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 June 2023, Maryland Food Bank Inc reported income of $89.3m and spending of $93.8m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $73.3m to $89.3m (+22%), an average of +5.1% a year. The sharpest change came in the year to June 2021, when income rose by 58%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maryland Food Bank Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include International Childrens Fund Inc ($89.0m), Flaget Healthcare Inc ($89.4m) and Astera Health ($88.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $1.5m (1.6% of expenses). Other salaries and wages came to $9.3m. It paid $1.6m in professional fundraising fees. At year end it held assets of $60.9m against liabilities of $7.7m, net assets of $53.2m. It reported 218 employees.