Bread of the Mighty Food Bank Inc

Analysis

Bread of the Mighty Food Bank Inc is a registered charity in United States, based in Gainesville, FL. It received its IRS tax-exemption ruling in November 1987, 39 years ago. 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 September 2023, Bread of the Mighty Food Bank Inc reported income of $6.1m and spending of $7.5m, spending 123% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $8.6m to $6.1m (-29%), an average of -8.2% a year. The sharpest change came in the year to September 2020, when income rose by 100%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bread of the Mighty Food Bank Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Legal Services of North West Jersey ($6.1m), Rainier Valley Food Bank ($6.1m) and Urban Indian Center of Salt Lake ($6.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 3.2% of the total. Other salaries and wages came to $480k. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m. It reported 27 employees.