Food Bank of Alaska Inc

Analysis

Food Bank of Alaska Inc is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in December 1979, 47 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, Food Bank of Alaska Inc reported income of $23.1m and spending of $19.5m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.2m to $23.1m (+34%), an average of +7.5% a year. The sharpest change came in the year to June 2022, when income dropped by 46%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Food Bank of Alaska Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within AK. Charities of a similar size with the same main cause include Rockland Independent Living Center Inc ($23.1m), Insight Housing ($23.1m) and Opengate Inc ($23.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $223k (1.1% of expenses). Other salaries and wages came to $2.0m. It paid $64k in professional fundraising fees. At year end it held assets of $21.6m against liabilities of $274k, net assets of $21.4m. It reported 56 employees.