South Texas Food Bank

Analysis

South Texas Food Bank is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in February 1991, 35 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, South Texas Food Bank reported income of $47.3m and spending of $44.3m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $29.9m to $47.3m (+58%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 80%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Texas Food Bank sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include St Nicks Alliance Corp ($47.2m), Goodwill of the Great Plains ($47.4m) and Readyone Industries Inc ($46.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $174k (0.4% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $28.3m against liabilities of $100k, net assets of $28.2m. It reported 62 employees.