Lowcountry Food Bank Inc

Analysis

Lowcountry Food Bank Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in July 1984, 42 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 December 2023, Lowcountry Food Bank Inc reported income of $87.5m and spending of $84.8m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $58.3m to $87.5m (+50%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lowcountry Food Bank 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 99th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Mount Allison University ($87.5m), Franklin University ($87.7m) and Catholic Charities Community Services Archdiocese of New York ($87.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $817k (1.0% of expenses). Other salaries and wages came to $4.0m. It paid $414k in professional fundraising fees. At year end it held assets of $33.7m against liabilities of $2.5m, net assets of $31.1m. It reported 102 employees.