Bananas Incorporated

Analysis

Bananas Incorporated is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in November 1974, 52 years ago. Its declared purposes cover human services, 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, Bananas Incorporated reported income of $28.4m and spending of $27.6m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.7m to $28.4m (+70%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 28%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bananas Incorporated 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 CA. Charities of a similar size with the same main cause include Sentara Life Care Corporation ($28.4m), Quality Care for Children Inc ($28.4m) and Human Concern International ($28.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $424k (1.5% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $9.5m against liabilities of $5.2m, net assets of $4.4m. It reported 68 employees.