Kenai Peninsula Food Bank Inc

Analysis

Kenai Peninsula Food Bank Inc is a registered charity in United States, based in Soldotna, AK. It received its IRS tax-exemption ruling in March 1990, 36 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, Kenai Peninsula Food Bank Inc reported income of $4.2m and spending of $3.8m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.2m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Kenai Peninsula Food Bank Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within AK. Charities of a similar size with the same main cause include Charity Cars Inc ($4.2m), Sa Christian Hope Resource Center Inc ($4.2m) and Foster Children Safe Haven ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $93k (2.4% of expenses). Other salaries and wages came to $398k. At year end it held assets of $3.1m against liabilities of $83k, net assets of $3.0m. It reported 16 employees.