Milford Food Bank Inc

Analysis

Milford Food Bank Inc is a registered charity in United States, based in Milford, IN. It received its IRS tax-exemption ruling in January 2022, 4 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, Milford Food Bank Inc reported income of $582k and spending of $467k, spending 80% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $360k to $582k (+62%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 54%. 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, Milford 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 72nd percentile, and in the 72nd percentile within IN. Charities of a similar size with the same main cause include Rowe Family Charitable Foundation Inc ($582k), Broken Wings Ministry Inc ($582k) and White County Domestic Violence Prevention Inc ($582k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $51k. At year end it held assets of $283k against liabilities of $1,919, net assets of $281k. It reported 1 employees.