Federation of Virginia Food Banks

Analysis

Federation of Virginia Food Banks is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in May 1994, 32 years ago. 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, Federation of Virginia Food Banks reported income of $8.5m and spending of $8.2m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.9m to $8.5m (+73%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 245%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Federation of Virginia Food Banks sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include The Dian Fossey Gorilla Fund International ($8.5m), National Judicial College ($8.5m) and Tucson Youth Development Inc ($8.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $134k (1.6% of expenses). Other salaries and wages came to $390k. At year end it held assets of $2.2m against liabilities of $877k, net assets of $1.3m. It reported 4 employees.