Food Bank of Central & Eastern North Carolina Inc

Analysis

Food Bank of Central & Eastern North Carolina Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in January 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 2024, Food Bank of Central & Eastern North Carolina Inc reported income of $234.0m and spending of $238.6m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $167.3m to $234.0m (+40%), an average of +6.9% a year. The sharpest change came in the year to June 2021, when income rose by 83%. 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, Food Bank of Central & Eastern North Carolina 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 100th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include Tides Center ($233.7m), Lifespace Communities Inc ($236.1m) and Jewish Board of Family & Childrens Services Inc ($233.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $1.1m (0.4% of expenses). Other salaries and wages came to $12.2m. It paid $2.1m in professional fundraising fees. At year end it held assets of $103.2m against liabilities of $4.9m, net assets of $98.2m. It reported 217 employees.