Bread of Life Inc

Analysis

Bread of Life Inc is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in January 2001, 25 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 December 2023, Bread of Life Inc reported income of $345k and spending of $239k, leaving 31% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $395k to $345k (-13%), an average of -4.4% a year. The sharpest change came in the year to December 2021, when income dropped by 25%. Over the whole period it spent 62% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bread of Life Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Family Promise of Greater Chattanooga Inc ($345k), Employ-Ability Unlimited Inc ($345k) and Encompasskids ($345k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $85k. At year end it held assets of $1.0m against liabilities of $176k, net assets of $855k. It reported 2 employees.