Foodbank of Southeastern Virginia

Analysis

Foodbank of Southeastern Virginia is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in August 1981, 45 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 June 2023, Foodbank of Southeastern Virginia reported income of $46.1m and spending of $45.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.9m to $46.1m (+44%), an average of +9.6% a year. The sharpest change came in the year to June 2023, when income rose by 27%. 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, Foodbank of Southeastern Virginia 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 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Emergency Assistance Foundation Inc ($46.1m), North American Family Institute Inc ($46.2m) and Morningside Ministries ($46.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $293k (0.6% of expenses). Other salaries and wages came to $3.9m. It paid $154k in professional fundraising fees. At year end it held assets of $24.8m against liabilities of $1.0m, net assets of $23.8m. It reported 87 employees.