Tarrant Area Food Bank

Analysis

Tarrant Area Food Bank is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in August 1982, 44 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, Tarrant Area Food Bank reported income of $127.2m and spending of $125.3m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $82.1m to $127.2m (+55%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 51%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tarrant Area Food Bank sits at the 100th 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 100th percentile within TX. Charities of a similar size with the same main cause include Seattle Childrens Foundation ($126.7m), The Research Institute of the McGill University Health Centre ($127.5m) and St Bonaventure University Business Office - Hopkins Hall ($126.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $912k (0.7% of expenses). Other salaries and wages came to $6.5m. It paid $809k in professional fundraising fees. At year end it held assets of $63.0m against liabilities of $1.6m, net assets of $61.4m. It reported 149 employees.