Banco de Alimentos Puerto Rico Inc

Analysis

Banco de Alimentos Puerto Rico Inc is a registered charity in United States, based in Carolina, PR. It received its IRS tax-exemption ruling in January 1992, 34 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, Banco de Alimentos Puerto Rico Inc reported income of $46.7m and spending of $43.3m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $23.8m to $46.7m (+96%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Banco de Alimentos Puerto Rico Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 97th percentile within PR. Charities of a similar size with the same main cause include Catholic Charities Community Services Inc ($46.7m), Step Up on Second Street Inc ($46.7m) and Young Mens Christian Association ($46.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $291k (0.7% of expenses). At year end it held assets of $22.2m against liabilities of $7.3m, net assets of $14.9m. It reported 28 employees.