Laredo Regional Food Bank Inc

Analysis

Laredo Regional Food Bank Inc is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. 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, Laredo Regional Food Bank Inc reported income of $249k and spending of $196k, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $132k to $249k (+88%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 184%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Laredo Regional Food Bank Inc sits at the 57th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 62nd percentile within TX. Charities of a similar size with the same main cause include Indian Hills Community College Development Inc ($249k), Fallbrook Youth Soccer League Inc ($249k) and USA Swimming Inc ($249k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Other salaries and wages came to $89k. At year end it held assets of $353k against liabilities of $63k, net assets of $290k.