Food Bank for Monterey County

Analysis

Food Bank for Monterey County is a registered charity in United States, based in Salinas, CA. It received its IRS tax-exemption ruling in February 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 June 2023, Food Bank for Monterey County reported income of $28.9m and spending of $26.5m, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $25.9m to $28.9m (+12%), an average of +3.7% a year. The sharpest change came in the year to June 2021, when income rose by 107%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Food Bank for Monterey County 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 98th percentile within CA. Charities of a similar size with the same main cause include California State University Dominguez Hills Toro Auxiliary Par ($28.8m), The Arc of Central Alabama Inc ($28.9m) and Rolling Green Village ($28.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $360k (1.4% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $28.8m against liabilities of $223k, net assets of $28.6m. It reported 47 employees.