Community Food Bank of Citrus County Inc

Analysis

Community Food Bank of Citrus County Inc is a registered charity in United States, based in Homosassa, FL. It received its IRS tax-exemption ruling in September 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Community Food Bank of Citrus County Inc reported income of $1.6m and spending of $1.4m, spending 93% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $885k to $1.6m (+76%), an average of +21% a year. The sharpest change came in the year to December 2020, when income rose by 46%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Food Bank of Citrus County Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Family Services Inc ($1.6m), Ozarks Family YMCA Inc ($1.6m) and Families Inc ($1.6m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 32% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $90k (6.2% of expenses). Other salaries and wages came to $253k. At year end it held assets of $1.7m against liabilities of $383k, net assets of $1.4m. It reported 11 employees.