Coastal Bend Food Bank

Analysis

Coastal Bend Food Bank is a registered charity in United States, based in Corp Christi, TX. It received its IRS tax-exemption ruling in December 1984, 42 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 August 2023, Coastal Bend Food Bank reported income of $30.6m and spending of $28.9m, spending 94% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $20.1m to $30.6m (+52%), an average of +11% a year. The sharpest change came in the year to August 2021, when income rose by 45%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Coastal Bend Food Bank sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Childrens Aid and Family Services Inc ($30.6m), Presbyterian Homes of Arden Hills Inc ($30.6m) and Morningstar Senior Living Inc ($30.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $142k (0.5% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $66.9m against liabilities of $34.5m, net assets of $32.4m. It reported 51 employees.