Carteret Local Food Network

Analysis

Carteret Local Food Network is a registered charity in United States, based in Gloucester, NC. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover food, agriculture and nutrition, 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 2023, Carteret Local Food Network reported income of $123k and spending of $128k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $146k to $123k (-16%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carteret Local Food Network sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 40th percentile within NC. Charities of a similar size with the same main cause include Pipers Group Home Association Inc ($123k), National Hook-Up of Black Women Inc ($123k) and Kraja Association Inc ($123k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. At year end it held assets of $10k against liabilities of $397, net assets of $10k.