Kings Storehouse Food Bank Inc

Analysis

Kings Storehouse Food Bank Inc is a registered charity in United States, based in Tyler, TX. It received its IRS tax-exemption ruling in April 1987, 39 years ago. 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, Kings Storehouse Food Bank Inc reported income of $473k and spending of $534k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $433k to $473k (+9.1%), an average of +2.2% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kings Storehouse Food Bank Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include NCR of Greenport Housing Development Fund Co Inc ($473k), Our Kids at Heart ($473k) and SPCA of Bradley County TN ($473k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Other salaries and wages came to $150k. At year end it held assets of $209k against liabilities of $40k, net assets of $168k. It reported 17 employees.