Fredericksburg Regional Foodbank

Analysis

Fredericksburg Regional Foodbank is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in July 1985, 41 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 2024, Fredericksburg Regional Foodbank reported income of $21.7m and spending of $21.4m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.3m to $21.7m (+133%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 66%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fredericksburg Regional Foodbank sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Friendship Village of Mill Creek NFP ($21.7m), United Services Inc ($21.7m) and Lexington Retirement Community Inc ($21.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $272k (1.3% of expenses). Other salaries and wages came to $1.8m. It paid $271k in professional fundraising fees. At year end it held assets of $10.1m against liabilities of $1.4m, net assets of $8.6m. It reported 49 employees.