Virginia Peninsula Foodbank

Analysis

Virginia Peninsula Foodbank is a registered charity in United States, based in Hampton, VA. It received its IRS tax-exemption ruling in March 1988, 38 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, Virginia Peninsula Foodbank reported income of $20.1m and spending of $19.5m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $23.7m to $20.1m (-15%), an average of -5.4% a year. The sharpest change came in the year to June 2022, when income dropped by 31%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Virginia Peninsula 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 Childrens Center of Wayne County Inc ($20.1m), Valley Oak Childrens Services Inc ($20.1m) and Penney Retirement Community Inc ($20.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $240k (1.2% of expenses). Other salaries and wages came to $1.6m. It paid $196k in professional fundraising fees. At year end it held assets of $24.3m against liabilities of $1.5m, net assets of $22.9m. It reported 48 employees.