Food, Agriculture & Nutrition
(K31Z)
IRS Verified
DX Registered
990 on File
FOOD BANK OF SOMERSET COUNTY INC
Financial strength (30%)
76/100
Reliability (20%)
55/100
Effectiveness (25%)
81/100
Impact (25%)
No data yet
CharityAI™ Score
Not yet evaluated
Mission Statement
The Mission of The Food Bank Network of Somerset County is to distribute food and to provide other basic needs to those in the community facing the risk of hunger. We are committed t assist our recipients in a manner which recognize and advances self-worth and human dignity. Our mission focuses on treating everyone with respect, courtesy and understanding. The success of the Food Bank is dependent of the trust, support and cooperation of the community. Our major programs are geared to provide families and individuals with food assistance necessary to meet basic needs.
Financial Overview — FY 2024
$5.2M
Total Revenue
$4.9M
Total Expenses
$3.1M
Net Assets
7
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio
95.2%
Fundraising Efficiency
0.0%
Operating Reserve
7.70x
Liability-to-Asset
1.2%
Revenue Diversification
97.2%
Executive Compensation
$110K
Compared with Peers
FY 2024
Compared with 768 similar organizations
(United States, Food, Agriculture & Nutrition, $1M–$10M in expenses), FY 2024.
This organization
Middle half of peers (P25–P75)
Peer median
| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
95.2% | 90.1% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
4.8% | 6.7% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.7% |
P10P90
|
Top quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
0.0% | 132.8% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
7.7 mo | 7.1 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
1.2% | 7.1% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
97.2% | 95.5% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
15.7% | 8.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
11.7% | 9.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
7.1% | 1.9% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $5.2M | $4.9M | $3.1M | 95.2% | 7 |
| 2023 | $4.5M | $4.4M | $2.8M | 95.3% | 5 |
| 2022 | $2.9M | $3.1M | $2.6M | 94.6% | 5 |
| 2021 | $2.8M | $2.4M | N/A | — | 5 |
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