Furniture Bank of Metro Atlanta Inc

Analysis

Furniture Bank of Metro Atlanta Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in February 1989, 37 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Furniture Bank of Metro Atlanta Inc reported income of $2.5m and spending of $2.4m, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.7m to $2.5m (+48%), an average of +10% a year. The sharpest change came in the year to September 2022, when income rose by 198%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Furniture Bank of Metro Atlanta Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within GA. Charities of a similar size with the same main cause include Tennessee Valley Agricultural & Industrial Fair ($2.5m), Unquity House Corporation ($2.5m) and Garment Worker Center ($2.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 33% of the total. Other salaries and wages came to $546k. At year end it held assets of $1.6m against liabilities of $147k, net assets of $1.4m. It reported 16 employees.