Matsu Food Bank

Analysis

Matsu Food Bank is a registered charity in United States, based in Wasilla, AK. It received its IRS tax-exemption ruling in November 1994, 32 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 December 2023, Matsu Food Bank reported income of $2.8m and spending of $1.3m, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.8m (+99%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 63%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Matsu Food Bank sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within AK. Charities of a similar size with the same main cause include Angels Guarding Youth Services Inc ($2.8m), Foundations Child Care Center Inc ($2.8m) and Paige Company Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $75k (5.6% of expenses). Other salaries and wages came to $122k. At year end it held assets of $2.9m against liabilities of $16k, net assets of $2.9m. It reported 5 employees.