Lake Stevens Community Food Bank Association

Analysis

Lake Stevens Community Food Bank Association is a registered charity in United States, based in Lake Stevens, WA. It received its IRS tax-exemption ruling in March 1986, 40 years ago. 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, Lake Stevens Community Food Bank Association reported income of $4.1m and spending of $1.8m, leaving 55% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $4.1m (+261%), an average of +38% a year. The sharpest change came in the year to June 2023, when income rose by 71%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Stevens Community Food Bank Association sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WA. Charities of a similar size with the same main cause include East Hill Christian School Inc ($4.1m), St Johnland Assisted Living Inc ($4.1m) and Siskiyou Child Care Council Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $67k (3.6% of expenses). Other salaries and wages came to $49k. At year end it held assets of $4.2m against liabilities of -$705, net assets of $4.2m. It reported 6 employees.