Soap Lake Food Bank

Analysis

Soap Lake Food Bank is a registered charity in United States, based in Soap Lake, WA. It received its IRS tax-exemption ruling in April 1990, 36 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 December 2023, Soap Lake Food Bank reported income of $71k and spending of $70k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $60k to $71k (+18%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Soap Lake Food Bank sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 23rd percentile within WA. Charities of a similar size with the same main cause include Oelwein Area United Way Inc ($71k), Humble Bicentennial Museum Inc ($71k) and PTA Pennsylvania Congress ($71k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. At year end it held assets of $88k against liabilities of $0, net assets of $88k.