Palm Beach County Food Bank Inc

Analysis

Palm Beach County Food Bank Inc is a registered charity in United States, based in Lake Worth, FL. It received its IRS tax-exemption ruling in August 2012, 14 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 (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, Palm Beach County Food Bank Inc reported income of $34.5m and spending of $29.0m, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $23.7m to $34.5m (+46%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 68%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Palm Beach County Food Bank Inc 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 FL. Charities of a similar size with the same main cause include Lift to Rise ($34.5m), Direction Home of Eastern Ohio Inc ($34.5m) and Helping Hands Ministries Inc ($34.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $349k (1.2% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $26.0m against liabilities of $8.8m, net assets of $17.2m. It reported 48 employees.