Feed More Inc

Analysis

Feed More Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Feed More Inc reported income of $89.0m and spending of $83.1m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $74.7m to $89.0m (+19%), an average of +6.0% a year. The sharpest change came in the year to June 2021, when income rose by 41%. 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, Feed More 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 VA. Charities of a similar size with the same main cause include American Baptist Homes of the Midwest ($88.9m), Old Colony Young Mens Christian Association Inc ($89.0m) and Forgotten Harvest Inc ($88.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 6.7% of the total. Compensation of current officers, directors and key employees was $1.5m (1.8% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $51.8m against liabilities of $939k, net assets of $50.8m. It reported 142 employees.