Sharenet Food Bank

Analysis

Sharenet Food Bank is a registered charity in United States, based in Kingston, WA. It received its IRS tax-exemption ruling in March 2019, 7 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, Sharenet Food Bank reported income of $427k and spending of $409k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $465k to $427k (-8.1%), an average of -2.1% a year. The sharpest change came in the year to December 2020, when income rose by 46%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sharenet Food Bank sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 66th percentile within WA. Charities of a similar size with the same main cause include Friends of Kenyan Orphans ($427k), Nevada Paralyzed Veterans of America ($427k) and Ohio County & Independent Agricultrual Societies ($427k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $43k (11% of expenses). Other salaries and wages came to $55k. At year end it held assets of $749k against liabilities of $8,318, net assets of $741k. It reported 7 employees.